The U.S. economy is showing mixed signals as job growth far surpassed expectations in December, yet more companies look ready to scale back amidst weak demand. In December, non-farm payrolls rose 292,000, versus expectations of an increase by 200,000, according to the Bureau of Labor Statistics. That sharp increase in jobs left the unemployment rate unchanged at 5 percent.
In his latest speech addressed to party supporters, President Jacob Zuma vowed certain reforms in 2016, such as enhancing living standards for the nation’s poor and instilling a national minimum wage, according to Bloomberg Business. Zuma has faced considerable heat from the public for multiple shortcomings, including the failure to improve the economy or upgrade the electric grid. South Africa also suffers from a 25.5 percent unemployment rate.
When you want to improve your credit rating, you make sure to pay your bills on time, check for incorrect information on your credit statement, and avoid making too many new credit inquiries. When you are a South American country, you join the Organization for Economic Cooperation and Development. At least, that is what Peru’s Finance Minister, Alonso Segura, said was Peru’s motivation for joining the OECD.
While those in the developed world often complain about the price of petroleum, the markups experienced in nations like the United States and Germany may pale in comparison to the fees charged by a particular developing nation in Africa.
Barclay’s analysts Apolline Menut and Antonio Pascual dispel the mainline narrative of a Spanish recovery, highlighting long-term unemployment, waning productivity and a high unemployment rate as unsustainable liabilities, according to Business Insider.
The job market gained a great deal of traction in 2015, but analysts note that Spain’s current status would prove catastrophic in other nations. Spain is one of the fastest-growing economies in the European Union, but unemployment stands at over 20 percent, with youth joblessness remaining over 55 percent.
Three separate studies show improvement in the U.S. job market, but investors globally express concern that growth expectations extend far beyond reality. The Gallup Good Jobs index, which measures jobs that offer 30+ hours per week of employment and a regular paycheck, saw a small improvement. According to new data released Thursday, the index rose 0.1 point to 45.3 percent in December, above the 44.9 percent reading in November.
On Wednesday, the World Bank once again downgraded its global economic growth forecast for 2016. The downgrade resulted from the World Bank’s prediction of weak performance from major emerging market economies, like China and Brazil. The reduced performance of these economies will reduce overall performance of the global economy and perpetuate the sluggish improvement of more advanced economies such as the United States.
President Nicolas Maduro replaced key figures of his cabinet in response to congressional losses, according to Bloomberg Business. Maduro removed certain people to address the dire state of the economy, which has long suffered due to a 40-percent drop in oil prices. Venezuela relies on oil revenue for 95 percent of its exports.
A structural decline in the American economy looms as several economic indicators weaken significantly at the same time. In November, the United States trade balance weakened by $42.4 billion, with exports falling to $182.2 billion.
The Minamata Convention on Mercury, a global treaty adopted in 2013, did not intend to serve as a major economic treaty. Its aim was to reduce mercury pollution around the world. However, according to a recent MIT study, that treaty, and several others, may have a significant positive impact on the U.S. economy.
