Israel plans to bring in 70,000 workers from abroad, including 10,000 from India, to boost its construction sector. A labour shortage has emerged after 80,000 Palestinian workers were barred from entering the country after the October 7 Hamas-led attacks. Figures suggest that India is one of the fastest-growing economies in the world. Between July and […]
Young people are lukewarm about Biden – and giving them more information doesn’t move the needle much
Recent polling for the November 2024 election shows that President Joe Biden is struggling with young voters, who have traditionally supported Democrats. A December 2023 poll showed that 49% of young people supported former President Donald Trump, while just 43% of 18- to 29-year-olds said they preferred Biden. Biden is even struggling with young people […]
There’s a glimmer of hope in the mid-year budget update, but inflation is still a big challenge
The federal government knows people are doing it tough. Inflation and interest rate pressures have put the cost-of-living at the forefront of voters’ minds. As the national accounts data shows, disposable income has fallen. Households have been forced to run down their savings. The household savings ratio has hit its lowest level in 16 years. […]
Budget update forecasts deficit of $1.1 billion this financial year
The federal budget is headed for a small $1.1 billion deficit this financial year, according to the update released by Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Wednesday morning. This is an improvement of $12.8 billion compared to the deficit forecast in the May budget. It suggests the final figure for the financial […]
Wages up as Americans are encouraged back to work and into the office – 3 takeaways from the latest jobs report
After a lackluster jobs report in September 2021, the latest news on employment gives Americans plenty of cheer about ahead of the holiday season. In total, 531,000 jobs were added in October – outstripping the already optimistic predictions of economists. This caused the unemployment rate to fall 0.2 percentage points to 4.6%. Even with those […]
Bongo’s rule ended by failed promises and shifting alliances
The Bongo family’s 56 year hold on power in Gabon was abruptly brought to an end with a military coup on 30 August. The military takeover happened hours after election results were announced that gave Ali Bongo Ondimba a third term. Gyldas Ofoulhast-Othamot, a professor of public and international affairs with published research on Gabon, […]
Americans are returning to the labor force at a quickening rate – do they just really need the work?
The U.S. economy surprised analysts by adding 467,000 jobs in January, overcoming omicron concerns and continuing a long streak of gains, the Bureau of Labor Statistics reported on Feb. 4, 2022. Yet at the same time, the unemployment rate ticked up a notch, from 3.9% to 4%. Confused? Shouldn’t a large increase in jobs drive […]
Tinubu inherits Nigeria’s high debt – an economist analyses what this means for the country’s future
As the 16th president of Nigeria, Bola Ahmed Tinubu inherits an economy that is grappling with inflation, chronic unemployment, extreme poverty, crumbling infrastructure and insecurity. Nigeria’s debt profile stands out among these problems like a sore thumb. The country’s external debt stock – what it owes non-residents – was US$41.69 billion in 2022. Multilateral lenders […]
Why stagflation is an economic nightmare – and may already be here
The economy is cooling while inflation remains elevated. And that is raising alarm bells among economists who worry it means “stagflation” is on the way. But what is stagflation exactly? We asked Veronika Dolar, an economist at SUNY Old Westbury and a visiting professor at Stony Brook University, to explain what it is, what causes […]
6 ways Canadians can prepare for the upcoming recession
Although it certainly feels like it, and many people believe it, we are not in a recession yet. While a recession is defined as two successive quarters of negative GDP growth, it is essentially a period where economic growth falls significantly and unemployment rates rise. Given the lack of a precise definition, there is not […]