Tag #Economic Slowdown

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cnbc.com

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Jan 15, 01:07

Microsoft Pauses Hiring in U.S. Consulting Division to Cut Costs

Microsoft's U.S. consulting division is pausing hiring and cutting spending through June 2025 to reduce costs, following recent layoffs and slower growth compared to other sectors; the company is still investing in AI.

Microsoft Pauses Hiring in U.S. Consulting Division to Cut Costs

Microsoft's U.S. consulting division is pausing hiring and cutting spending through June 2025 to reduce costs, following recent layoffs and slower growth compared to other sectors; the company is still investing in AI.

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What are the immediate consequences of Microsoft's hiring pause in its U.S. consulting division?

Microsoft is pausing hiring in its U.S. consulting division to cut costs, impacting an unknown number of employees. This follows recent layoffs affecting less than 1% of its workforce and is part of a broader cost-cutting strategy. The pause will last through June 2025.

us.cnn.com

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Jan 13, 16:11

US Job Market Slowdown Disproportionately Impacts Young Workers

The US job market's slowdown, particularly impacting young adults (20-34), is due to decreased hiring and job switching, causing prolonged job searches and financial strain, with potential improvement if the Federal Reserve continues cutting interest rates but with delayed benefits for vulnerable gr...

US Job Market Slowdown Disproportionately Impacts Young Workers

The US job market's slowdown, particularly impacting young adults (20-34), is due to decreased hiring and job switching, causing prolonged job searches and financial strain, with potential improvement if the Federal Reserve continues cutting interest rates but with delayed benefits for vulnerable gr...

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How does "The Great Stay" phenomenon contribute to the challenges faced by young workers seeking employment?

This trend is linked to "The Great Stay," where workers are less likely to quit their jobs, reducing job openings. The decreased churn disproportionately affects younger workers lacking experience, competing with more experienced candidates. The tech sector, in particular, presents persistent challenges for recent graduates and those laid off from roles.

smh.com.au

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Jan 13, 07:07

Weak Consumer Spending Slams Myer and Premier Profits

Myer and Premier Investments reported significantly lower sales and profits for the first half of 2025, reflecting weak consumer spending during the Christmas period and Black Friday sales, driven by a challenging macroeconomic environment and high interest rates.

Weak Consumer Spending Slams Myer and Premier Profits

Myer and Premier Investments reported significantly lower sales and profits for the first half of 2025, reflecting weak consumer spending during the Christmas period and Black Friday sales, driven by a challenging macroeconomic environment and high interest rates.

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What is the immediate impact of the weak consumer spending on Myer and Premier Investments, and what does it signal about the broader Australian retail landscape?

Myer's total sales for the first five months of the year were down 0.8 percent, while earnings before interest and tax fell by 25 percent. Premier Investments, owner of Just Jeans and Portmans, saw a similar decline, with earnings before interest and tax expected to fall more than 30 percent in the first half of 2025. This resulted in significant stock price drops for both companies.

welt.de

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Jan 11, 04:07

German Job-Switching Willingness Decreases Amidst Economic Uncertainty

A recent Indeed survey reveals that 55 percent of German employees want to change jobs, down from 61 percent last year, primarily due to economic uncertainty and fear of job losses in a declining job market. The survey, conducted by Appinio, involved 549 employees aged 18-65.

German Job-Switching Willingness Decreases Amidst Economic Uncertainty

A recent Indeed survey reveals that 55 percent of German employees want to change jobs, down from 61 percent last year, primarily due to economic uncertainty and fear of job losses in a declining job market. The survey, conducted by Appinio, involved 549 employees aged 18-65.

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What is the primary reason for the decline in job-switching willingness among German employees despite high dissatisfaction levels?

More than half of German employees (55 percent) want to change jobs, according to a survey by Appinio for Indeed, but this number is down from 61 percent last year. The worsening job market and increased uncertainty due to economic downturn and potential job cuts are the main reasons for the decrease in job-switching willingness.", A2="The survey of 549 German employees shows a discrepancy between desire and action. While many are dissatisfied, fewer are actively seeking new jobs because of economic uncertainty. This is especially true in manufacturing, where job losses are anticipated. The fear of worsening job security is a significant factor influencing employees' decisions to stay.", A3="The high job dissatisfaction coupled with economic downturn creates a vicious cycle for employers. Staff shortages increase workload and dissatisfaction, fueling employee turnover, which in turn exacerbates the shortage. This trend poses a significant challenge, especially for sectors like education already facing staff shortages.", Q1="What is the primary reason for the decline in job-switching willingness among German employees despite high dissatisfaction levels?", Q2="How does the current economic climate affect employees' decisions to switch jobs, and what are the most significant contributing factors?", Q3="What are the long-term implications of this trend for German businesses and the overall labor market, considering the interplay between employee dissatisfaction, staff shortages, and turnover?", ShortDescription="A recent Indeed survey reveals that 55 percent of German employees want to change jobs, down from 61 percent last year, primarily due to economic uncertainty and fear of job losses in a declining job market. The survey, conducted by Appinio, involved 549 employees aged 18-65.", ShortTitle="German Job-Switching Willingness Decreases Amidst Economic Uncertainty")) 66 percent of those reporting significant staff shortages are considering leaving their jobs in the new year. The combination of dissatisfaction, high workload due to staff shortages, and the resulting increased willingness to change jobs could become a vicious circle for employers. If employees leave the company, the staff shortage will increase, the dissatisfaction of the remaining employees will increase, and with it their willingness to change jobs." , A2="The survey of 549 German employees shows a discrepancy between desire and action. While many are dissatisfied, fewer are actively seeking new jobs because of economic uncertainty. This is especially true in manufacturing, where job losses are anticipated. The fear of worsening job security is a significant factor influencing employees' decisions to stay.", A3="The high job dissatisfaction coupled with economic downturn creates a vicious cycle for employers. Staff shortages increase workload and dissatisfaction, fueling employee turnover, which in turn exacerbates the shortage. This trend poses a significant challenge, especially for sectors like education already facing staff shortages.", Q1="What is the primary reason for the decline in job-switching willingness among German employees despite high dissatisfaction levels?", Q2="How does the current economic climate affect employees' decisions to switch jobs, and what are the most significant contributing factors?", Q3="What are the long-term implications of this trend for German businesses and the overall labor market, considering the interplay between employee dissatisfaction, staff shortages, and turnover?", ShortDescription="A recent Indeed survey reveals that 55 percent of German employees want to change jobs, down from 61 percent last year, primarily due to economic uncertainty and fear of job losses in a declining job market. The survey, conducted by Appinio, involved 549 employees aged 18-65.", ShortTitle="German Job-Switching Willingness Decreases Amidst Economic Uncertainty"))

dailymail.co.uk

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Jan 8, 16:09

UK Borrowing Costs Surge to 25-Year High, Threatening Fiscal Rules

The yield on 30-year gilts hit a 25-year high of 5.25 percent yesterday, increasing government borrowing costs and potentially forcing Chancellor Rachel Reeves to break her fiscal rules following her October budget that included £40 billion in tax hikes and increased spending and borrowing.

UK Borrowing Costs Surge to 25-Year High, Threatening Fiscal Rules

The yield on 30-year gilts hit a 25-year high of 5.25 percent yesterday, increasing government borrowing costs and potentially forcing Chancellor Rachel Reeves to break her fiscal rules following her October budget that included £40 billion in tax hikes and increased spending and borrowing.

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What is the immediate impact of the record-high borrowing costs on the UK government's fiscal plans and economic stability?

Yesterday, the yield on 30-year gilts reached 5.25 percent, the highest since 1998, significantly increasing government borrowing costs. This surpasses even the levels seen after Liz Truss's mini-Budget in 2022, jeopardizing Chancellor Rachel Reeves's fiscal rules.

cnn.com

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Jan 7, 19:09

US Job Quits Hit Pandemic Low Amidst Cooling Labor Market

The November 2024 Job Openings and Labor Turnover Survey revealed a drop in quits to 3.1 million—a pandemic-era low—and decade-low hiring, despite 8.1 million job openings and low layoffs; economists anticipate the incoming administration's policies to significantly impact future labor market trends...

US Job Quits Hit Pandemic Low Amidst Cooling Labor Market

The November 2024 Job Openings and Labor Turnover Survey revealed a drop in quits to 3.1 million—a pandemic-era low—and decade-low hiring, despite 8.1 million job openings and low layoffs; economists anticipate the incoming administration's policies to significantly impact future labor market trends...

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What is the immediate impact of the decreased quit rate and low hiring on the US labor market and economy?

In November 2024, the number of people quitting their jobs fell to 3.1 million, the lowest since the pandemic's peak. Hiring also hit a decade low, suggesting a cooling labor market. However, key metrics like unemployment and wage growth remain strong.

smh.com.au

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Jan 15, 22:08

Sydney House Prices Fall Amidst High Interest Rates

Sydney house prices fell 0.1 percent in December, marking the first back-to-back quarterly decline in two years due to high interest rates and reduced borrowing capacity; however, unit prices reached a record high.

Sydney House Prices Fall Amidst High Interest Rates

Sydney house prices fell 0.1 percent in December, marking the first back-to-back quarterly decline in two years due to high interest rates and reduced borrowing capacity; however, unit prices reached a record high.

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What is the immediate impact of high interest rates and reduced borrowing capacity on Sydney's housing market?

Sydney's housing market experienced its first consecutive quarterly price decline in two years, with a 0.1 percent drop in December, following a 0.3 percent decrease in September. This downturn, reflected in Domain's House Price Report, is attributed to high interest rates and reduced borrowing capacity among buyers, leading to decreased demand and increased housing choices.

cnbc.com

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Jan 13, 19:09

India's Economic Slowdown: Projected Growth and Investment Strategy

India's economy is projected to grow at 6.4% in fiscal year 2024-2025, slower than previous years but still faster than major global economies; factors include reduced corporate investment, high inflation, and external factors; the government plans economic stimulus measures.

India's Economic Slowdown: Projected Growth and Investment Strategy

India's economy is projected to grow at 6.4% in fiscal year 2024-2025, slower than previous years but still faster than major global economies; factors include reduced corporate investment, high inflation, and external factors; the government plans economic stimulus measures.

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What are the key factors contributing to India's economic slowdown, and what is its projected growth rate compared to other major global economies?

India's economy is projected to grow at 6.4% in fiscal year 2024-2025, the slowest pace in four years but still faster than major global economies. Despite this slowdown, the UN forecasts 6.6% growth in 2025, exceeding other major economies. The Indian government aims for a $10 trillion economy by 2034, requiring about 6.3% annual growth.

edition.cnn.com

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Jan 13, 16:11

Slow US Job Market Disproportionately Impacts Young Workers

The US job market's slowdown disproportionately affects young workers (20-34) due to decreased hiring in 2024, causing financial hardship and prolonged job searches, as exemplified by two individuals' experiences. Economists predict this trend may persist for some time.

Slow US Job Market Disproportionately Impacts Young Workers

The US job market's slowdown disproportionately affects young workers (20-34) due to decreased hiring in 2024, causing financial hardship and prolonged job searches, as exemplified by two individuals' experiences. Economists predict this trend may persist for some time.

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How does the "Great Stay" phenomenon contribute to the challenges faced by recent graduates and young professionals?

This slowdown, termed "The Great Stay," is characterized by lower employee turnover and reduced hiring, especially in white-collar sectors and manufacturing. The resulting competition disadvantages younger workers with less experience, pushing them to accept lower-paying jobs or face prolonged unemployment, leading to financial instability and mental health consequences, as highlighted by Tangalakis-Lippert's experience. This trend follows a pattern of younger workers being disproportionately affected by economic downturns.

forbes.com

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Jan 10, 13:09

Freeport-McMoRan Stock Drops 25% Amidst Weak Copper Demand

Freeport-McMoRan's (FCX) stock has fallen 25% in three months, mirroring industry trends due to weak copper demand amid global economic slowdown concerns; despite Q3 2024 revenue rising 17% to $6.7 billion, copper sales fell 7% year-over-year.

Freeport-McMoRan Stock Drops 25% Amidst Weak Copper Demand

Freeport-McMoRan's (FCX) stock has fallen 25% in three months, mirroring industry trends due to weak copper demand amid global economic slowdown concerns; despite Q3 2024 revenue rising 17% to $6.7 billion, copper sales fell 7% year-over-year.

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What are the primary factors driving Freeport-McMoRan's recent stock underperformance, and what are the immediate implications for the company?

Freeport-McMoRan's (FCX) stock price has dropped 25% in the last three months, mirroring declines in peer companies due to weakening copper demand and global economic slowdown concerns. This decline is coupled with a 7% drop in copper sales in Q3 2024 compared to the previous year, despite a 17% rise in overall revenue to $6.7 billion.

welt.de

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Jan 8, 19:08

German Office Vacancy Rates Rise to 6.8 Percent

Office vacancy rates in seven major German cities – Berlin, Hamburg, Munich, Frankfurt, Düsseldorf, Cologne, and Stuttgart – rose to 6.8 percent in 2024, up from 5.8 percent in 2023, due to decreased demand from companies, a shift towards smaller, sustainable offices, and economic uncertainty.

German Office Vacancy Rates Rise to 6.8 Percent

Office vacancy rates in seven major German cities – Berlin, Hamburg, Munich, Frankfurt, Düsseldorf, Cologne, and Stuttgart – rose to 6.8 percent in 2024, up from 5.8 percent in 2023, due to decreased demand from companies, a shift towards smaller, sustainable offices, and economic uncertainty.

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What is the impact of the rising office vacancy rate in major German cities on the overall economy and real estate market?

Office vacancy rates in seven major German cities are rising despite some companies encouraging a return to the office. The JLL report shows that while the market saw slight recovery in 2024, new lettings were 30 percent below the ten-year average, totaling 2.7 million square meters. Available space increased to 6.7 million square meters, resulting in a 6.8 percent vacancy rate.

zeit.de

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Jan 3, 16:09

Saxony Unemployment to Rise Above 7 Percent in 2025

Saxony's unemployment rate is projected to rise above 7 percent in 2025 due to economic uncertainty, impacting Chemnitz and Görlitz the most; while Ukrainian refugee integration is progressing rapidly, challenges persist for long-term unemployed and younger workers.

Saxony Unemployment to Rise Above 7 Percent in 2025

Saxony's unemployment rate is projected to rise above 7 percent in 2025 due to economic uncertainty, impacting Chemnitz and Görlitz the most; while Ukrainian refugee integration is progressing rapidly, challenges persist for long-term unemployed and younger workers.

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What are the projected impacts of economic uncertainty and global factors on unemployment rates in Saxony in 2025?

Unemployment in Saxony, Germany, is expected to rise significantly in 2025, exceeding 7 percent, according to Klaus-Peter Hansen, head of the regional directorate of the Federal Employment Agency. Chemnit and Görlitz may experience double-digit unemployment rates. This contrasts with 2024's relatively stable 6.5 percent rate.

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