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foreign policy and global economy

Archive for the tag “jobs”

A Long, Uneven And Uncertain Ascent

The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting. As a result of eased lockdowns and the rapid deployment of policy support at an unprecedented scale by central banks and governments around the world, the global economy is coming back from the depths of its collapse in the first half of this year… This crisis is however far from over.

Read Here | IMF Blog

The Great Lockdown Through A Global Lens

The Great Lockdown is expected to play out in three phases, first as countries enter the lockdown, then as they exit, and finally as they escape the lockdown when there is a medical solution to the pandemic. Many countries are now in the second phase, as they reopen, with early signs of recovery, but with risks of second waves of infections and re-imposition of lockdowns.

Read Here – IMF Blog

The Strong Economy Didn’t Make Trump, But Coronavirus Collapse Could Break Him

The U.S. Labor Department last week reported unemployment at 14.7%, with 20 million jobs lost in April. Administration economists warn US output may plummet at a 40% annual rate in the second quarter. Those staggering measures of economic suffering do not guarantee that President Donald Trump will meet the same one-term fate as Bush, who lost to Bill Clinton. But they underscore the uphill fight Trump faces, and explain his abrupt shift from coronavirus containment to economic reopening.

Read Here – CNN

The State Of Employment In Pandemic America, in 6 Charts

While many early indicators suggested that the coronavirus pandemic and efforts to contain it would be damaging to the labor economy, we’re now getting a fuller picture of just how bad the situation is in the United States.

Read Here – Vox

US Unemployment Spikes To A Depression-Era Level Of 14.7%

The U.S. unemployment rate rocketed to 14.7% in April, a level last seen during the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record — stark evidence of how the coronavirus has brought the economy to its knees…And they rob President Donald Trump of the ability to point to a strong economy as he runs for reelection.

Read Here – APNews

Also Read: Political Fantasy Battles Economic Reality After Tens Of Millions Of Jobs Lost

Some Countries Prise Open Lockdowns, But UK Doesn’t Budge

Countries from Italy to New Zealand have announced the easing of coronavirus lockdowns but British Prime Minister Boris Johnson, back at work on Monday after being in intensive care with the disease, said it was too soon to relax the restrictions. Nearly 3 million people have been infected by the coronavirus across the world and 205,948 have died, according to a Reuters tally of official figures. But many countries are looking to ease lockdowns as rates of infections fall and fears of economic ruin rise.

Read Here – Reuters

Virus Pushes US Unemployment Toward Highest Since Depression

Unemployment in the U.S. is swelling to levels last seen during the Great Depression of the 1930s, with 1 in 6 American workers thrown out of a job by the coronavirus, according to new data released Thursday. In response to the deepening economic crisis, the House passed a nearly $500 billion spending package to help buckled businesses and hospitals.

Read Here – APNews

India’s PM Modi Seeks ‘Forgiveness’ Over Lockdown

India’s prime minister has asked for his country’s forgiveness after imposing a sweeping lockdown that he said had hurt millions of poor people. Criticism has mounted over the lack of planning ahead of the coronavirus shutdown, which was introduced with less than four hours’ notice. Many of India’s 1.3 billion citizens have been left jobless and hungry. Tens of thousands of migrant labourers have been forced to walk hundreds of kilometres to their native villages.

Read Here – BBC News

How Long Will China’s Soaring Growth Last?

To present and future Chinese leaders, managing economic change while maintaining social stability is much more important than figuring out how to respond to the social media rumblings of a sitting US president. For an economy as much as an individual, too much of a good thing can be detrimental. In the run-up to the global financial crisis, China’s economy, and more importantly, Chinese jobs, depended on exports.

Read Here – Chatam House

America’s Unusual Recovery Is Now Also its Longest

After overcoming significant political and economic headwinds during the past decade, the US economy now appears to have undergone its longest sustained expansion in history. Yet, behind the data showing historically low unemployment and long-awaited wage growth lie vulnerabilities that cannot be ignored.

Read Here – Project Syndicate

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