Wall Street Journal (January 22)
“Employees say AI isn’t saving them much time in their daily work so far, and many report feeling overwhelmed by how to incorporate it into their jobs. Companies, meanwhile, are spending vast amounts on artificial intelligence, betting that the technology’s power to speed everything from sales to back-office functions will usher in a new era of efficiency and profit growth.”
Tags: AI, Artificial intelligence, Back-office functions, Daily work, Efficiency, Employees, Jobs, Overwhelmed, Power, Profit growth, Sales, Speed, Technology
Wall Street Journal (June 25)
Steel and aluminum :”are trump’s worst tariffs.” They “will hit consumers, jobs and national security.” On June 3, President Trump announced that U.S. tariff rates on steel and aluminum would double to 50%, effective the next day.“ This move constitutes “the most reckless trade action of the Trump presidency.” The tariffs on these crucial manufacturing materials “will drive up the cost of U.S. manufactured products dramatically.” They may “drag the economy into a recession” and “will increase the probability of retaliation against American exports and an all-out trade war.” On top of that, the tariffs “will harm national security by increasing the cost of two essential components of defense procurement.”
Tags: 50, Aluminum, Consumers, Defense procurement, Economy, Exports, Jobs, Manufacturing, National security, Recession, Reckless, Retaliation, Steel, Tariffs, Trade war, Trump, U.S.
The Economist (April 26)
“Africans need jobs. The rest of the world needs workers. Migration from Africa is a mega-trend that transcends today’s populist surge” and it is already taking place on a colossal scale. Over 20 million emigrants from Africa now “live outside the continent, a three-fold increase since 1990. That is higher than the number of Indian migrants outside India or Chinese migrants outside China—two big diasporas from countries with populations of similar size to the African continent.”
Tags: 1990, 20 million, Africa, China, Diasporas, Emigrants, India, Jobs, Mega-trend, Migrants, Migration, Populations, Populist surge, Workers
Washington Post (March 14)
President Trump may be hoping to copy Argentinian President Javier Milei’s success at beating inflation and rejuvenating an economy. Trump now seems “willing to risk a recession to see his vision come to pass,” but his approach is more likely to “backfire and harm the economy for years to come. Recessions hurt. They have long-lasting effects.” On top of that, the President is focused on restoring yesteryear’s jobs. He “is fixated on returning to the economy of the 1990s — or even the 1890s. The only thing worse than undergoing a forced recession would be a forced recession that leaves America less competitive.”
Tags: 1990s, Argentina, Backfire, Economy, Inflation, Jobs, Less competitive, Milei, Recession, Risk, Trump, Vision
Reuters (November 8)
“The unique exposure of Ireland’s low-tax business model to the United States could place its public finances at significant risk under a Donald Trump presidency.” The president-elect has promised “to incentivise industries to bring production back to the United States, and to slash the corporate tax rate to Irish levels.” This could “prove existential for Ireland’s decades-old model of attracting jobs and tax dollars from U.S. multinationals.”
Tags: Business model, Corporate tax rate, Existential, Exposure, Ireland, Jobs, Low-tax, Production, Public finances, Risk, Slash, Trump, U.S., Unique
Bloomberg (October 7)
“The ‘no landing’ scenario–a situation where the US economy keeps growing, inflation reignites and the Federal Reserve has little room to cut interest rates–had largely disappeared as a bond-market talking point in recent months.” After “setting up for slowing growth,” traders are undergoing another “wrenching recalibration” on the heels of a “blowout” jobs report “showing the fastest job growth in six months, a surprising drop in US unemployment and higher wages.” Treasury yields surged and investors are “furiously reversing course on bets for a larger-than-normal half-point interest-rate reduction.”
Tags: Blowout, Bond market, Economy, Fed, Growing, Inflation, Interest rates, Jobs, No landing, Recalibration, Scenario, Traders, Treasury yields, U.S., Unemployment, Wages
Washington Post (March 20)
“The proposed purchase of U.S. Steel by Japan’s Nippon Steel has done something few issues can do in Washington: forge a bipartisan consensus…. Members of both parties are absolutely molten about the prospects of a 123-year-old American manufacturer flying a Japanese flag.” They shouldn’t be. This is electioneering. “As long as the plant and the jobs there are protected, as Nippon Steel has promised, who owns it doesn’t really matter — unless you’re a politician.”
Tags: Bipartisan, Consensus, Electioneering, Japan, Jobs, Nippon Steel, Plant, Politician, Protected, Purchase, U.S. Steel, Washington
Reuters (February 5)
“Prolonged factory deflation is threatening the survival of smaller Chinese exporters who are locked in relentless price wars for shrinking business as higher interest rates abroad and rising trade protectionism squeeze demand.” Fifteen months of falling producer prices have crushed “profit margins to the point where industrial output and jobs are now at risk,” further “compounding China’s economic woes, which include a property crisis and debt crunch.”
Tags: China, Demand, Economic woes, Exporters, Factory deflation, Interest rates, Jobs, Output, Price wars, Producer prices, Profit margins, Prolonged, Property crisis, Relentless, Risk, Survival, Threatening, Trade protectionism
Financial Times (December 1)
“Something weird is happening in America. GDP growth for Q3 was just revised up from an already scorching 4.9 per cent to 5.2 per cent, more Americans have jobs than at any time in history, but the public is up in arms about economic conditions, with consumer confidence dropping to a six-month low. There really is no pleasing some people.”
Tags: 5.2%, Consumer confidence, Economic conditions, GDP growth, Jobs, Low, Pleasing, Q3, U.S., Weird
Wall Street Journal (September 11)
“For every American employed making steel or aluminum in 2018, 36 were employed by firms that used steel or aluminum as inputs. By raising the prices of these metals, Mr. Trump’s tariffs destroyed far more manufacturing jobs than they created. Overall manufacturing employment fell in each of the four quarters of 2019…. Under Mr. Trump’s protectionist policy, total manufacturing output was 2% lower by the start of the pandemic than it was when he raised tariffs.”
Tags: 2018, Aluminum, Destroyed, Employment, Fell, Inputs, Jobs, Manufacturing, Metals, Output, Pandemic, Prices, Protectionist policy, Steel, Tariffs, Trump
