Connect with us

Business

The jobs report suggests President Biden is right about a recession.

Published

on

The strong jobs report was welcome news for President Biden, who has insisted in recent weeks that the United States is not in recession, even though it has suffered two consecutive quarters of economic contraction.

But the report also defied even the president’s own optimistic expectations about the state of the labor market — and appeared to contradict the administration’s theory of where the economy is headed.

Mr. Biden celebrated the report on Friday morning. “Today, the unemployment rate matches the lowest it’s been in more than 50 years: 3.5 percent,” he said in a statement. “More people are working than at any point in American history.”

He added: “There’s more work to do, but today’s jobs report shows we are making significant progress for working families.”

The president has said for months that he expects job creation to slow soon, along with wage and price growth, as the economy transitions to a more stable state of slower growth and lower inflation.

“If average monthly job creation shifts in the next year from current levels of 500,000 to something closer to 150,000,” Mr. Biden wrote in an opinion piece for The Wall Street Journal in May, “it will be a sign that we are successfully moving into the next phase of recovery — as this kind of job growth is consistent with a low unemployment rate and a healthy economy.”

White House officials prepped reporters this week for the possibility that job growth was cooling, in line with Mr. Biden’s expectations. The expectations-busting job creation number appeared to surprise them, again.

But Mr. Biden will almost certainly cite the numbers as evidence that the economy is nowhere near recession. He and his aides have repeatedly said in recent weeks that the current pace of job creation is out of step with the jobs numbers in previous recessions, and proof that a contraction in gross domestic product does not mean the country is mired in a downturn.

Read the full article here

Advertisement

A journalist since 1994, he also founded DMGlobal Marketing & Public Relations. Glover has an extensive list of clients including corporations, non-profits, government agencies, politics, business owners, PR firms, and attorneys.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

OAKLAND: Safeguarding Your Business

Published

on

OAACC partners with PNC Bank offering a variety of topics for business owners. FREE event, but please RSVP NOW for planning purposes.

By Oakland African American Chamber of Commerce (OAACC)

(OAKLAND – April 10, 2023) – OAACC is pleased to invite members of local multicultural chambers of commerce to a business networking mixer and presentation entitled “How to Safeguard Your Business in 2023”. Sponsored by PNC Bank, the presentation will cover a variety of topics top of mind of business owners and professionals in the current business climate, including:

  • Assessing the safety and security of banks and financial institutions,
  • Diversifying investments in inflationary times
  • Protecting your business against fraud

Our moderated panel will feature Megan Schoettmer, Regional President, PNC Bank, Christian Dean, OAACC Board of Directors and Business Center Manager, PNC Bank, Charles Kwan, Investment Advisor, PNC Investments, and Dhaval Shah, Business Banking Manager, PNC Bank.

Light refreshments will be served.

The event is complimentary, but please RSVP NOW for planning purposes.

Continue Reading

Business

Benefits Of A Side Hustle During Bad Economic Times

Published

on

@paratynka via Canva

“Good things happen to those who hustle.”

– Anais Nin

(WASHINGTON, D.C. – March 13, 2023) – The COVID-19 pandemic has adversely affected the global economy. Many people have lost their jobs and businesses have closed down as well. The pandemic has highlighted the importance of having multiple sources of income and that is where side hustles come into play. A side hustle is a job or business that someone does in addition to their regular job. Let’s explore three benefits of having a side hustle during bad economic times.

One significant benefit of having a side hustle during bad economic times is the additional income it provides. Side hustles offer a great way to earn extra money, which can be used to supplement one’s regular income. With side hustles, individuals can generate additional revenue streams, which can help cover bills and expenses. Moreover, side hustles can help individuals save up for future investments and retirement.

Another benefit of having a side hustle during bad economic times is the development of new skills. Starting a side hustle requires individuals to learn new skills or improve existing ones. These skills may include marketing, customer service, or time management, among other types of skills. The development of new skills can help individuals become more valuable in their regular jobs, making them more marketable and competitive in the job market.

A third benefit of having a side hustle during bad economic times is another layer of a sense of security. Side hustles offer individuals a backup plan in case they lose their regular job. In the event of a job loss, a side hustle can provide some income until a new job is found. Having a side hustle can also help individuals feel more in control of their financial situation, reducing the stress and anxiety that comes with financial uncertainty.

Having a side hustle during bad economic times offers several benefits. It provides additional income, helps develop new skills and offers a sense of security. Side hustles have become increasingly popular in recent years and the COVID-19 pandemic has highlighted their importance. It is essential for individuals to explore side hustles that align with their interests and skills to maximize the benefits they offer.

Continue Reading

Business

The Benefits of an Online Education – For Working Professionals

Published

on

(MONTGOMERY VILLAGE, MARYLAND – November 18, 2022) – Are you a working professional looking for the convenience and flexibility of an online education? An online education can be a great way to further your knowledge, increase job opportunities and even earn you additional credentials without sacrificing your current commitments. In this article, we will explore various benefits of an online education for working professionals.

FURTHERING YOUR KNOWLEDGE

With the flexibility that comes with an online education, you are able to fit study into your existing schedule and take classes at times that are convenient for you. You also have access to many resources that might not be available in traditional classrooms such as webinars, lectures, and tutorials.

In addition to the convenience of studying from home, developing a fundamental understanding of concepts is often easier since online courses provide an interactive learning environment. You can easily connect with peers and professors to ask questions or get help when needed. Additionally, online courses allow you to practice digital literacy skills such as research, problem-solving, online communication, and critical thinking which are important for success in today’s digital world.

INCREASE JOB OPPORTUNITIES

An online education can open up a variety of job opportunities that may not have been available otherwise. Employers are looking for individuals who possess digital literacy skills and may prefer someone with additional credentials earned through online courses. This is especially true in the tech industry where employers often look for candidates who possess specific skills that can be acquired through practicing in an online program. Furthermore, many employers offer incentives such as tuition reimbursement to employees seeking to further their education or gain additional qualifications.

Additionally, an online education allows you to easily access resources from around the world, increasing your chances of finding a job in a different country or region. With ever-evolving technology and globalization, it’s becoming increasingly important for professionals to be able stay ahead of the curve and online education can help you do just that.

CURRENT COMMITMENTS

An online education is a great way to earn additional credentials without sacrificing your current commitments. With its flexibility and convenience, you are able to fit study into your existing schedule and take classes at times that are convenient for you. Furthermore, there is no need to worry about commuting or finding parking as you would with a regular class. So, if you’re looking for a flexible way to pursue higher education and gain additional credentials without sacrificing your current commitments, then an online education could be the perfect option for you! With ever-evolving technology and globalization, it’s becoming increasingly important for professionals to stay ahead of the curve and an online education can help you do just that.

Advertisement

In conclusion, an online education can be a great way to further your knowledge and increase job opportunities. With its flexibility and convenience, you are able to fit study into your existing schedule and take classes at times that are convenient for you. Additionally, you have access to many resources from around the world which may not be available in traditional classrooms. Furthermore, employers often offer incentives such as tuition reimbursement to those pursuing higher education or gaining additional qualifications. So if you’re looking for a flexible way to pursue higher education or gain new skills without sacrificing your current commitments, then an online education could be the perfect option for you! Take advantage of this opportunity today and begin learning something new! Good luck!

Continue Reading

Trending