How sexism makes the economy worse

Betsy Stevenson, a professor at the University of Michigan and former chief economist for the US Department of Labor, told me that when she hit her mid-40s, she had an “aha moment.” “I was thinking, It’s great that I’ve reached this point in my career where I’m becoming more established. It’s very liberating,” she told … Read more

Western sanctions affect Russia’s wartime economy

Comment on this story Suspension When Russian President Vladimir Putin last month launched a new council to coordinate supplies for the Russian military, he seemed to understand the scale of the economic problems facing the country, and his sense of urgency was evident. “We have to be quicker in deciding issues related to supplying the … Read more

Inflation is declining. Here’s what that means for your annual salary increase

Physics | iStock | Getty Images Inflation and annual wages are not in a one-to-one relationship. This became apparent to many workers last year when annual merit increases in salaries and wages were nowhere near the highest levels of inflation in four decades. Many employees stuck, even as wages increased by more than has been … Read more

Economies booming with Russian wealth and immigration

Russians cross the border between Russia and Georgia days after President Vladimir Putin announced a mobilization campaign on September 21. Daru Solakuri | Getty Images News | Getty Images While many economies are suffering from the impact of Russia’s invasion of Ukraine, a select few countries are benefiting from the influx of Russian immigrants and … Read more

Holiday shopping begins as inflationary sentiment drops

NEW YORK (AP) — While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty remains. The US labor market remains strong, consumer spending is resilient and inflation is slowing. But higher prices for food, rent, gasoline and other household costs have weighed on shoppers. As a result, many are reluctant to spend … Read more

Falling home prices is coming. High unemployment could make it much worse

London CNN Business – Last year, Auckland’s largest real estate company was unable to sell properties fast enough to meet demand in New Zealand’s largest city. Homes were “flying out the door,” said Grant Sykes, a principal at the Barfoot & Thompson real estate agency. “There were chin-breaking moments when agents would stand across the … Read more

China may have ‘passed the point of no return’ with soaring rates of Covid infection

Macquarie’s chief China economist, Larry Hu, said surging Covid infections across mainland China was making it difficult for the government to achieve zero Covid without returning to a harsh lockdown. In the past few days, the number of daily cases has risen to around 28,000 or more — close to levels seen in April during … Read more