U.S. Economy Shedding Workforce
Total nonfarm payroll employment in the United States declined by 301,000 in January, largely missing out on market expectations, Automatic Data Processing Inc. (ADP) revealed in its report released on Wednesday.
Total nonfarm payroll employment in the United States declined by 301,000 in January, largely missing out on market expectations, Automatic Data Processing Inc. (ADP) revealed in its report released on Wednesday. Last year was a historic one for American jobs. A record number of workers quit their jobs.
In December, 4.3 million Americans quit their jobs, down slightly from the record 4.5 million in November, the Bureau of Labor Statistics reported recently.
While millions of workers left jobs for cash incentives, better pay or better benefits, people also left the labor market to care for children or elderly relatives during the pandemic. Meanwhile, older workers retired early either because they could or because age discrimination forced them out of the labor market.
U.S. Inflation Tends to Be More Urban than Rural
Consumer prices in the U.S. accelerated last year predominantly in large U.S. metropolitan areas seeing an influx of new residents than in the nation overall, while inflation was milder in large coastal cities with less population growth.
Germany’s International Fiscal Standing Keeps Worsening
Germany’s trade surplus shrank for the fifth year in a row in 2021 to €6.8 billion in December from €15.1 billion in the same period last year and €10.9 billion in November, as a global supply crunch hampered exports, including in its key auto sector.
Amazon, Nike, and Other Bidders Are Reportedly Eying Peloton
After crashing investors' expectations by a lockdown-fueled elevated demand during the pandemic, Peloton (PTON) is now in deep trouble.
