The American job market is hardly booming, but it is ambling along despite an energy shock caused by Trump’s war with Iran.
The American job market is hardly booming, but it is ambling along despite an energy shock caused by Trump’s war with Iran.Open
For a mega-refinery in Ulsan, South Korea, a top exporter of jet fuel to the West Coast of the United States and other places, weaning off Middle Eastern oil is no small feat.
U.S. applications for jobless aid rose modestly last week, but remain at a historically low level despite economic headwinds brought on by the war in Iran
The 1970s oil-shock playbook needs an update: The inflation costs remain, but the employment risks appear far smaller than they did 50 years ago. Why it matters: As the Iran war continues, there are early signs of renewed strength in the labor market. - If energy disruptions pose less of a risk to jobs, the challenge for central banks shifts from managing stagflation risks to guarding against renewed price pressures. That's the takeaway from new Federal Reserve Bank of Boston research that finds an oil shock the size of what the Iran war has produced would push inflation materially higher while having essentially no effect on national employment. What they're saying: "The U.S. economy's vulnerability to oil shocks has not been…
The 1970s oil-shock playbook needs an update: The inflation costs remain, but the employment risks appear far smaller than they did 50 years ago. Why it matters: As the Iran war continues, there are early signs of renewed strength in the labor market. - If energy disruptions pose less of a risk to jobs, the challenge for central banks shifts from managing stagflation risks to guarding against renewed price pressures. That's the takeaway from new Federal Reserve Bank of Boston research that finds an oil shock the size of what the Iran war has produced would push inflation materially higher while having essentially no effect on national employment. What they're saying: "The U.S. economy's vulnerability to oil shocks has not been…Open
Soaring oil prices and a surging dollar are testing Asia’s foreign-exchange reserves, which were built up after the 1997 crisis.
An analysis of oil export data offers clues about which nations have benefited from higher prices, and which have lost a lot of revenue.
Data: Bureau of Labor Statistics; Chart: Neil Irwin/Axios The U.S. labor market has found its footing: A yearlong pattern of whipsawing between job gains and losses is finally breaking, a sign that stabilization is taking hold. Why it matters: The labor market is holding up despite a wall of headwinds, including an energy shock stemming from the Iran war and the uncertainty that comes with the conflict. So far, the damage that was expected to ripple through hiring simply hasn't shown up. - But this isn't the gangbusters hiring environment of 2022. It's something steadier and possibly more fragile, with warning signs in the underlying data. - Still, the firming evident in a range of data lessens the chances for further interest rate cuts…
Data: Bureau of Labor Statistics; Chart: Neil Irwin/Axios The U.S. labor market has found its footing: A yearlong pattern of whipsawing between job gains and losses is finally breaking, a sign that stabilization is taking hold. Why it matters: The labor market is holding up despite a wall of headwinds, including an energy shock stemming from the Iran war and the uncertainty that comes with the conflict. So far, the damage that was expected to ripple through hiring simply hasn't shown up. - But this isn't the gangbusters hiring environment of 2022. It's something steadier and possibly more fragile, with warning signs in the underlying data. - Still, the firming evident in a range of data lessens the chances for further interest rate cuts…Open
Royce White and Professor Penn break down rising global instability, focusing on OPEC fractures, oil markets, and how conflict in the Middle East could trigger widespread economic ripple effects like rising costs across everyday goods. They connect these shifts to broader concerns about global power structures, war economics, and how profits are concentrated while costs are pushed onto citizens. The conversation moves into domestic politics, highlighting distrust in party establishments, debates over sovereignty, and frustrations with performative leadership versus substantive policy. They also explore deeper philosophical and theological themes, including morality, sin, and the role of faith in shaping individual and national direction.…
BOLLING: Vance walked after 21 hours. That’s bad. This is global oil, global economy at risk. I called major brokers, they said $110 “very soon.” Betting markets agree. Levin says it’s a temporary gas bump. That’s BS. Everything is fuel driven. This isn’t temporary. Inflation is coming hard.
Inflation surged in March after an oil shock triggered by the U.S.-Israeli war with Iran, government data showed on Friday. The inflation report matched economists' expectations.