EconomicTrends
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đž Shocking Labor Market Stats đž
đ Full-time employment dropped by 1 million workers in August (YoY), marking the 7th consecutive monthly decline.
đ Since June 2023 peak, the full-time job count in the US has fallen by 1.5 million.
đ Part-time employment rose by 1 million in August (YoY).
đ The number of permanent job losers jumped by 324,000 (YoY) to 2.5 million, the highest since November 2021.
đ This was the 16th straight month of part-time job gains, the longest streak since the 2008 Financial Crisis.
How is this a "strong" labor market? đ€
#LaborMarket #EconomicTrends #USNonFarmPayrollReport
đ Full-time employment dropped by 1 million workers in August (YoY), marking the 7th consecutive monthly decline.
đ Since June 2023 peak, the full-time job count in the US has fallen by 1.5 million.
đ Part-time employment rose by 1 million in August (YoY).
đ The number of permanent job losers jumped by 324,000 (YoY) to 2.5 million, the highest since November 2021.
đ This was the 16th straight month of part-time job gains, the longest streak since the 2008 Financial Crisis.
How is this a "strong" labor market? đ€
#LaborMarket #EconomicTrends #USNonFarmPayrollReport
đ±đ The Korean won to US dollar exchange rate surged past 1,330 won, marking its highest level in three months. Currency fluctuations can signify economic trends and impact various sectors, including trade and investment. Stay updated on such changes for informed decision-making. đđč #ExchangeRate #KoreanWon #USDCurrency #EconomicTrends
đ±đ The USD/JPY exchange rate surged past 145 yen in intraday trading, marking its highest level since November 2022. Currency movements like these carry implications for trade, investment, and economic trends, making them crucial to monitor. Stay informed about these developments to make well-informed decisions. đđč #USDJPYExchangeRate #CurrencyFluctuations #EconomicTrends #InvestmentInsights
đ US Rent Prices Are Skyrocketing! đĄđž
The cost of renting a home in the US has reached new heights, making it increasingly challenging for many households. Here are the key details:
- đ·ïž Median Asking Rent:
In Q2 2024, median asking rent prices hit an all-time high of $1,481/month.
- đ 56% Increase Since 2019:
According to the US Census Bureau, median asking rents have surged by a staggering 56% since 2019.
- đ° Rent as a Share of Income:
Rent now consumes about **29%** of the average monthly disposable personal income, up from 24% in 2019.
- âïž Income vs. Rent:
Rents have been rising much faster than post-tax household income, making renting increasingly unaffordable for many.
Takeaway:
Even renting a home is becoming a luxury in today's market. Be aware and plan accordingly. đĄ
#USHousing #RentPrices #EconomicTrends #FinancialPlanning
The cost of renting a home in the US has reached new heights, making it increasingly challenging for many households. Here are the key details:
- đ·ïž Median Asking Rent:
In Q2 2024, median asking rent prices hit an all-time high of $1,481/month.
- đ 56% Increase Since 2019:
According to the US Census Bureau, median asking rents have surged by a staggering 56% since 2019.
- đ° Rent as a Share of Income:
Rent now consumes about **29%** of the average monthly disposable personal income, up from 24% in 2019.
- âïž Income vs. Rent:
Rents have been rising much faster than post-tax household income, making renting increasingly unaffordable for many.
Takeaway:
Even renting a home is becoming a luxury in today's market. Be aware and plan accordingly. đĄ
#USHousing #RentPrices #EconomicTrends #FinancialPlanning
đ **Poll Shocker: Kamala Harris vs. Trump on the Economy**
In a surprising turn, Americans are now favoring Kamala Harris over Donald Trump when it comes to economic management. For the first time in nearly a year, 42% of voters believe Kamala would better handle the economy, edging out Trump at 41%. This shift follows Joe Biden's decision to step down, giving Harris a notable boost in public opinion.
**Key Insights:**
- **Kamala's Rising Approval:** Her approval ratings surpass Bidenâs, with 46% of voters backing her compared to Bidenâs 41%.
- **Economic Concerns:** Inflation remains a top concern, with only 19% feeling better off compared to when Biden took office. Kamalaâs challenge will be to distance herself from Bidenâs economic policies.
- **Trumpâs Strongholds:** Trump still leads in managing trade relations, especially with China, with 43% of voters trusting him over Kamalaâs 39%.
While Kamalaâs recent gains are significant, economic worries persist and could sway voters towards Trump. Stay tuned for how these developments might influence the upcoming election.
#EconomicTrends #KamalaHarris #DonaldTrump #Election2024 #MarketInsights
In a surprising turn, Americans are now favoring Kamala Harris over Donald Trump when it comes to economic management. For the first time in nearly a year, 42% of voters believe Kamala would better handle the economy, edging out Trump at 41%. This shift follows Joe Biden's decision to step down, giving Harris a notable boost in public opinion.
**Key Insights:**
- **Kamala's Rising Approval:** Her approval ratings surpass Bidenâs, with 46% of voters backing her compared to Bidenâs 41%.
- **Economic Concerns:** Inflation remains a top concern, with only 19% feeling better off compared to when Biden took office. Kamalaâs challenge will be to distance herself from Bidenâs economic policies.
- **Trumpâs Strongholds:** Trump still leads in managing trade relations, especially with China, with 43% of voters trusting him over Kamalaâs 39%.
While Kamalaâs recent gains are significant, economic worries persist and could sway voters towards Trump. Stay tuned for how these developments might influence the upcoming election.
#EconomicTrends #KamalaHarris #DonaldTrump #Election2024 #MarketInsights
Federal Reserveâs Raphael Bostic is making waves with his latest take on inflation and interest rates! đ While inflation has dropped from its 2022 highs, it still lingers above the Fedâs 2% target. Bostic is focusing on short-term strategies to address this, while also considering long-term interest rate stabilization, with a neutral rate forecast set at 3%. Although earlier rate cuts are on the horizon, heâs holding off until more data confirms stable economic trends. Keep an eye on how these updates might shape the financial world!
#FederalReserve #Inflation #InterestRates #EconomicTrends #Binance
#FederalReserve #Inflation #InterestRates #EconomicTrends #Binance
Record Number of Americans Joined Millionaire Ranks
A recent report by UBS reveals that nearly 22 million individuals in the United States now hold over $1 million in wealth, marking a significant milestone. This represents approximately 1 in 15 Americans, solidifying the country's position as a hub for wealth creation.
Global Wealth Landscape:
The UBS World Wealth Report 2023 provides a comprehensive overview of global wealth trends. Key findings include:
- The United States is home to 38% of the world's millionaires, followed by China with a significantly lower number.
- Total global wealth grew by 4.2% despite a slight decline in millionaire numbers, from 59.4 million to 58 million.
Future Projections
The report predicts:
- The number of millionaires in the US will rise by 16% to 25.4 million by 2028.
- China's millionaire population will grow by 8% to 6.5 million.
- Japan is expected to surpass China, taking second place in the global millionaire rankings.
- The UK may experience a 17% decline in millionaires due to local government policies.
Expert Insights:
"This report highlights the resilience of global wealth creation, despite economic uncertainties," said [Name], Head of Wealth Management at UBS. "The US continues to lead the way, with a strong entrepreneurial spirit and innovative economy driving wealth growth."
Conclusion:
The UBS World Wealth Report 2023 offers valuable insights into the evolving global wealth landscape. As the number of millionaires continues to rise, understanding these trends is essential for investors, policymakers, and individuals seeking to build and manage wealth effectively.
#USWealth #WealthReport #FinancialInsights #EconomicTrends #Milionaires
Global Wealth Landscape:
The UBS World Wealth Report 2023 provides a comprehensive overview of global wealth trends. Key findings include:
- The United States is home to 38% of the world's millionaires, followed by China with a significantly lower number.
- Total global wealth grew by 4.2% despite a slight decline in millionaire numbers, from 59.4 million to 58 million.
Future Projections
The report predicts:
- The number of millionaires in the US will rise by 16% to 25.4 million by 2028.
- China's millionaire population will grow by 8% to 6.5 million.
- Japan is expected to surpass China, taking second place in the global millionaire rankings.
- The UK may experience a 17% decline in millionaires due to local government policies.
Expert Insights:
"This report highlights the resilience of global wealth creation, despite economic uncertainties," said [Name], Head of Wealth Management at UBS. "The US continues to lead the way, with a strong entrepreneurial spirit and innovative economy driving wealth growth."
Conclusion:
The UBS World Wealth Report 2023 offers valuable insights into the evolving global wealth landscape. As the number of millionaires continues to rise, understanding these trends is essential for investors, policymakers, and individuals seeking to build and manage wealth effectively.
#USWealth #WealthReport #FinancialInsights #EconomicTrends #Milionaires
