Economy

Job Openings Report Shows Record Number of Workers Quit in November

There are signs that the worst of the turbulence was beginning to ease late last year. The number of job openings posted by employers fell in November, the Labor Department said Tuesday, though it remained high by historical standards. Hiring picked up, too. Earlier data showed that more people returned to the labor force in November, and various measures of supply-chain pressures have begun to ease.

But that was before the explosion in coronavirus cases linked to the Omicron variant, which has forced airlines to cancel flights, businesses to delay return-to-office plans and school districts to return temporarily to remote

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Inflation and the ‘Experience Economy’

With inflation at its highest rate since 1982, the topic seems to be on everyone’s minds, from policy makers to shoppers. The worry is especially acute as inflation appears to be rising still.

Inflation tends to be understood as higher prices resulting either from increased costs—global supply-chain issues and hard-to-find workers—or from increased demand, such as pent-up purchases, as well as easy monetary policy from the Federal Reserve and blowout spending from Congress. But there’s another significant factor at play: Price increases also arise from growth in the perceived value of economic offerings.

Consumer values have shifted greatly over the

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Economy faces more virus-related risks


A man passes walks past a billboard on the Covid-19 coronavirus in Ho Chi Minh City on Dec 4, 2021. (Photo: AFP)

Vietnam’s Prime Minister Pham Minh Chinh warned his country’s economy will continue to face pandemic-related risks ranging from a widening state budget deficit to rising bank bad debts this year, according to the government’s website.

Chinh said the challenges will require “very skillful” measures, the website reported, citing the premier during a meeting with local government officials on Wednesday.

The difficulties facing the economy include struggling businesses, disbursement of public investments at a multi-year low, the state budget’s

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China economy: the fallout from the Evergrande crisis

Last month, China’s State Council, the government’s most powerful organ, unleashed its wrath on an unusually small target, accusing officials in a county of just 660,000 people of effectively extorting private sector businesses.

In a long and detailed statement issued on December 17, the State Council said the local government in Bazhou, situated just 90km south of Beijing in Hebei province, had seriously violated both government and Chinese Communist party orders by embarking on a fee-collection spree from small and medium-sized enterprises in order to offset its own declining land-sale and tax revenues.

Like many jurisdictions across the country, Bazhou

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On Politics: After a year of financial bad news, Gov. David Ige has a budget built on a stronger economy

Mahalo for supporting Honolulu Star-Advertiser. Enjoy this free story!

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Childcare worker, teacher shortage ripples across economy – InForum

EDITOR’S NOTE: It’s called “The Great Resignation,” a seismic upheaval in the workforce that is reshaping today’s economy. This week, Forum Communication Co. reporters will look at The Great Resignation’s profound effects on workers and businesses across the region in our multi-part series, “Help Wanted.”

SILVER BAY, MINN. – Before this year, a child care center was a new concept for Silver Bay.

The town of 1,700 about 55 north of Duluth, Minnesota, had one or two home daycares, and once had a daycare in a church basement. Parents largely depended on their family members or friends to take care

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Opinion | What’s wrong with Turkey’s economy? ‘Erdoganomics.’

What economy could survive the revolving door Turkey’s top bureaucracy has become? After being elected president under the new system in 2018, Erdogan first made his son-in-law, Berat Albayrak, finance minister but eventually fired him. In March, Erdogan fired his third central bank governor in less than two years, replacing him with a newspaper columnist who shares his unorthodox views. Soon after, he fired the deputy governor, and months later his new finance minister is gone, replaced with a loyalist with no economics degree on his résumé. Erdoganomics may not always be coherent, but it always values loyalty

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Economy Week Ahead: Home Prices, Unemployment Claims

Tuesday

The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, is expected to decelerate for the year ended in October, but still remain historically elevated. Economists surveyed by The Wall Street Journal estimate that the 20-city Case-Shiller index rose by 18.6% in the year ended in October, down from the 19.1% annual rate the month prior.

A limited supply of homes coupled with robust home-buying demand has contributed to some buyers being pushed out of the market—a trend that has persisted throughout the year in hot real-estate markets

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Utah economy boomed in ‘21 but inflation, other concerns dim the glow

The year’s biggest Utah economic stories were dominated by the state’s nation-leading recovery from the worst impacts of COVID-19 but issues emerging toward the end of 2021 could cast shadows into the year ahead.

Utah was at or near the top of best performing states when it comes to unemployment, job creation and economic growth throughout 2021 but as the year nears its end, leaders are keeping a close eye on a changing landscape.

Utah’s chief executive is decidedly bullish when talking about the state’s 2021 economic achievements but within that glowing review lurks a darker concern — how rising

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