The fast-rising wages could lead the Fed to raise higher interest rates. The Labor Department data released on Friday stated the average hourly earnings soared to 0.7% in January. In the previous 12 months, the average hourly earnings ran at a 5.7% pace. Going back to 2007 the fast-rising wages is the fastest-move by a
Bangladesh recently celebrated its 50th founding anniversary. In 1972, Henry Kissinger, the US Secretary of State, described Bangladesh as a “bottomless basket” for an independent country. On the other hand, in 1976, Norwegian economist Just Faland and American economist JR Parkinson published a book from London called ‘Bangladesh the Test Case for Development. The book
New Zealand (NZ) is hit by a bad wave of inflation. According to reports New Zealand inflation rate hit 5.9 percent recently, experiencing the fastest growth rate since 1990. This is a very rapid increase as the inflation rate just in September, 2021 was at 4.9 percent. “Rising inflation leads to rising interest rates which
The Commerce Division on Thursday introduced that the U.S. economy surged by 1.7% in the 4th quarter. Despite the pandemic and severe inflation, the financial growth soared to 5.7% — deemed the most important since 1984. A surge in the U.S. Economy The Commerce Division said, “primarily mirrored a rise in companies, led by well-being
A new report by International Monetary Fund (IMF) shows reduced rate of global economic growth at 4.4 percent, lower than its earlier prediction of 4.9 percent. The report states that the larger than expected lockdowns in United States (U.S) and China are responsible for this reduction. “We project global economic growth this year at 4.4
The smartphone market in India bounced back strongly in 2021. According to a report by research firm Canalys, Indian smartphone market registered 12 percent growth in 2021 compared to 2020. The reports states that smartphone manufacturers shipped 162 million devices in 2021 despite the chaos brought on of the pandemic. “Following a strong comeback in
India’s unemployment crisis has increased due to Covid-19. According to the Centre for Monitoring Indian Economy and International Labour Organisation, the unemployment crisis has existed for six years. Furthermore, India’s youth is frustrated with the job crisis and opting to migrate to Canada. Last month India’s unemployment rate slumped to 7.9% from a 23.5% peak
There is visible evidence that the recovery of Indian economy is becoming wider in the third quarter of 2022 as per recent report by rating agency Investment Information and Credit Rating Agency of India (ICRA). ICRA states that it expects the GDP to increase 6-6.5 percent in the third quarter of 2022 (Q3 of FY22) but
The global job market is unlikely to recover before 2023. The global employment rate will take time to recover to pre-pandemic levels. The International Labour Organisation (ILO) warned that economies across the globe would suffer an equivalent of fifty-two million fewer jobs. Why will the global job market take longer to recover? Compared to 186
Covid exploded inequality, boon for billionaires: Oxfam report
More than 16 crore humans were pushed into poverty and roughly 99 percent of people around the globe had diminished income during the pandemic. But it was a stark opposite scenario for the rich. The pandemic saw the 10 richest people of the world more than double their fortune to 1.5 trillion USD, at a