In many low- and middle-income countries, economic growth has been stronger than job creation. Output is increasing, firms are investing, and labor participation remains high, but fixed income employment is growing slowly. The informal system is still prevalent, and the working hours are often short. Recent evidence from different countries shows that GDP-employment elasticity in … Read more
The United States and Israel launched their attacks on Iran last month. As a result of Iran’s retaliatory actions, the world oil market has a supply shortage greater than the oil crises of 1973 and 1979 combined. The full panic hasn’t been felt in the United States, even as US gasoline prices hit $4 a … Read more
NEW YORK — Consumers increased their spending in February, particularly on cars and clothing, after pulling back earlier in the year due to severe winter storms. Retail sales rose a more than expected 0.6% in February, from a 0.1% decline in January, the Commerce Department said Wednesday. But there is concern that the war in … Read more
NEW YORK — US gas prices rose above an average of $4 a liter for the first time since 2022 on Tuesday as the war in Iran pushed up global fuel prices. According to the AAA motor group, the national average for a gallon of regular gasoline is now $4.02 – a dollar more than … Read more