Last Friday (September 3, 2022), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – September 2022 – which reported a total payroll employment rise of only 315,000 jobs (a major slowdown) and an official unemployment rate rose 0.2 points to 3.7 per cent. The participation rate also rose (somewhat reversing last month’s decline) and the broad labour underutilisation rate (U6) rose by 0.3 points, largely due to the rise in unemployment. The other interesting aspect of this data is that real wages continued to decline in all industry sectors – they have systematically fallen each month since March 2022.
Atoning for their mortgage and pension mis-selling scams has cost the UK banks billions, but their payouts perversely kept consumer spending alive. What happens now? Read here
As voters are flocking to the far-right party Alternative for Germany, the other political parties are realising that their neo-liberal policies have alienated voters. In Berlin hundreds of thousands of citizens have demanded this measure. […]
Interviews with Zelenskiy, Keir Starmer and Sam Harris strip away the illusion that we control our political system rather than it controls us Read Here