ECONOMY & MARKETS

Nevada saw the highest unemployment rate in May at 5.4% similar to April, followed by the District of Columbia (5.1%) and California (4.5%), according to statistics released by the bureau on June 16.

In May, 11 states saw low unemployment rates, while 39 others observed a stable development.

In its regular June meeting last week, the Fed sent a clear and loud message to markets: Fighting inflation isn't done. Interest rate hikes will continue for the rest of the year until inflation reaches the official goal of 2%.

In the last decade, China's role as the factory of the world has been undermined by several factors, including the rising of the country's labor costs due to the Lewis point, the rising geopolitical tensions between China and the U.S. and its allies over several issues and the flaring tech war.

The U.S. has more than 146,000 public EV chargers distributed across over 57,000 charging stations.

The surprise data indicates that consumer spending has remained resilient despite an elevated inflation rate and the headwinds in the economy.

In its regular June policy meeting on Wednesday, the FOMC left interest rates unchanged. Nonetheless, it reaffirmed that price stability remained its top priority goal and that it would do whatever it takes to reach it.

It is the 11th consecutive month witnessing a slowdown in inflation and is seen as a welcome respite from the gut-wrenching high inflation suffered by Americans over the past two years.

With its innovative solutions and omnipresent adoption of digital payments, India is dominating the market landscape and is on its way to becoming a cashless economy.

That's a new dilemma the nation's bank is facing as the U.S. economy has moved closer to its dual pursuit of maximum employment and steady prices.

Hiring in the United States heated up again in May, according to government data released Friday, with the strong labor market defying expectations of a slowdown amid efforts to cool the economy.

Nigerians are struggling with surging fuel prices after newly elected President Bola Tinubu declared an end to popular subsidies, a move analysts and experts said was long overdue.On his first day in office, Tinubu kept to his campaign promise and announced an end to the long-running arrangement, which has given Nigerians access to cheap petrol.

The U.S. Congress averted a catastrophic debt default by the country, with the Senate passing the bill late Thursday evening and sending it to President Joe Biden's desk.

The bill to suspend the deb ceiling passed the U.S. House of Representatives on Wednesday with bipartisan support.

The average Chinese citizen is much better off today than four decades ago when the country's economy was mired in stagnation.

Kiyosaki said gold, silver and Bitcoin are the best hedge against the incoming crash.

Greek equities got a boost from the continued decline in the country's sovereign debt yields, which have dipped below 4% in recent weeks.

S&P 500 companies with more than 50% overseas sales reportedly underperformed those with less than 50% sales presence.

The U.S. economy continues to churn out more jobs at a healthy rate, according to the U.S. Bureau of Labor Statistics.

On Wednesday afternoon, the nation's central bank announced another rise in the Federal Funds Rate by 25 basis points and pledged more hikes if needed to achieve price stability, meaning bringing inflation to the official target of 2%.

The Fed's decision Wednesday is the 10th rate hike in a span of 14 months.

Compounding the Fed's dilemma is a wave of regional bank failures, which raises the prospect of a credit crunch that could further limit liquidity and push a weakening economy into a recession.

China's manufacturing activity contracted in April, official figures showed Sunday, due to tapering global demand and slow domestic recovery after Covid-related curbs were lifted.

There is little doubt the central bank will hike borrowing costs for the seventh consecutive time as consumer price increases are still way above its two-percent target.

Nasdaq futures rose on Wednesday buoyed by upbeat earnings from technology major Microsoft, though S&P 500 and Dow contracts came under pressure from worries about the impact of rising interest rates on the U.S.

Zimbabwe is just one of the many countries whose central bank is planning to launch its own digital currencies.

"The implications for earnings are not great news: the Financials sector is still expected to drive earnings growth in 2023," Amanda Agati, chief investment officer at PNC Asset Management Group, said.

Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday the U.S.

U.S. economic activity was little changed in recent weeks as employment growth moderated somewhat and price increases appeared to slow, according to a Federal Reserve report published on Wednesday.