‘Job Paradox’ Baffles Economists as U.S. Employers See Shortage
Bloomberg 7 hrs ago
(Bloomberg)
As the U.S. job market comes roaring back, there’s a growing debate about whether there are enough workers to power faster economic growth.
Companies from fast food chains like Chipotle Mexican Grill Inc. to chicken producer Pilgrim’s Pride Corp. and MGM Resorts International say they can’t find or entice enough workers. In earnings calls and business surveys, executives often blame stimulus checks and generous unemployment benefits for hampering hiring efforts.
But economists and policy makers are unclear about what’s really causing this gap and how long it will last. Hiring remains robust for now, indicating these labor disparities aren’t necessarily a problem. The worry is if labor shortages do persist especially in the leisure and hospitality industry that could slow demand and possibly lead to price increases.
May 05 2021, 3:17 PM
May 05 2021, 10:19 AM
May 05 2021, 3:17 PM
(Bloomberg) Indonesia is setting its sights on a sharp turnaround starting this quarter as it assembles more stimulus programs to lift stubbornly weak domestic demand.
(Bloomberg) Indonesia is setting its sights on a sharp turnaround starting this quarter as it assembles more stimulus programs to lift stubbornly weak domestic demand.
Gross domestic product declined 0.74% in the first quarter from a year ago, the statistics bureau said Wednesday, worse than the median estimate of -0.65% in a Bloomberg survey of economists. Still, it represented an improvement from the 2.19% contraction in the final quarter of 2020.
Indonesia is setting its sights on a sharp turnaround starting this quarter as it assembles more stimulus programs to lift stubbornly weak domestic demand.
May 05 2021, 3:09 AM
May 04 2021, 10:08 AM
May 05 2021, 3:09 AM
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(Bloomberg)
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Australiaâs central bank upgraded its economic outlook and said policy makers will review its bond programs in July, while maintaining interest rates will remain at emergency levels until at least 2024.
Reserve Bank Governor Philip Lowe kept the cash rate and three-year yield target at 0.10% on Tuesday. He said the board will decide at its July 6 meeting on a third tranche of quantitative easing and whether to shift yield curve control to target the November 2024 maturity from the current April 2024 bond.
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(Bloomberg) The U.S. economy probably notched up another bumper month of hiring in April, tallying with other reports that suggest growth momentum is building in the wake of the coronavirus crisis.
Payrolls may have risen by 978,000, according to the median estimate of economists, above the 916,000 gain in March, while unemployment is seen falling below 6%. The Labor Department report on Friday will wrap up another busy week of data that also includes April surveys of manufacturers and service providers.
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