Economy

There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates.That sounds like a good thing — and it is for Americans who are facing higher prices on everything from groceries to rent. But the Federal Reserve isn't very happy about it. In order to…

Comment on this storyCommentDestroy a seed, erase a future.On May 16, 2022, tens of thousands of rare seed samples were destroyed in the Russian shelling of Kharkiv’s Yuriev Institute, which houses Ukraine’s National Gene Bank.The Yuriev Institute has a storied past — its predecessor was founded in 1908, a time when Eurasian grain was feeding…

Financial markets investors worry the U.S. is on the brink of an economic downturn as central bankers in Jackson Hole reaffirmed their determination to raise interest rates to bring inflation under control.  Steve Hanke, a professor of applied economics at Johns Hopkins University, said that he believes the U.S. is heading…

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comRegisterBest Buy sales beat estimates as discounts spur demandJobs openings in July rises sharplyIndexes down: Dow 0.58%, S&P 0.71%, Nasdaq 0.72%Aug 30…

Consumers who have been squeezed by higher prices may be experiencing a little relief.Fewer adults now say they are living paycheck to paycheck, according to a new LendingClub report. As of July, 59% of Americans said they lived paycheck to paycheck, down from 61% in June but still higher than a year ago, when the number of adults who felt…

A general view of pipelines on the gas storage facility at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. REUTERS/Annegret Hilse/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterBERLIN, Aug 28 (Reuters) - Germany's gas storage facilities are filling up faster than planned, Economy Minister Robert…

NEW YORK (AP) — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties. Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped. More…

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterFed will keep tightening until inflation controlled: PowellCore PCE increases 0.1% in July vs. 0.6% rise in JuneIndexes down: Dow 1.29%, S&P…

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.IZHEVSK, Russia, Aug 25 (Reuters) - Russia's record employment signals a surprisingly smooth decoupling from the West. Its rapid replacement of McDonald's and Starbucks says business as usual. Yet pressures are building inside its…

The U.S. needs to return to the kind of economic and productivity growth it saw in mid-20th century to boost public spirits, according to a Nobel Prize-winning economist. "We badly need to get back to economic growth," Edmund S. Phelps, director of the Center on Capitalism and Society at Columbia University, told CNBC's "Squawk Box Europe" on…