Editorial Roundup: United States
Excerpts from recent editorials in the United States and abroad: Aug. 2 The Washington Post says high interest rates could be killing job gains The post-pandemic hiring surge is over. Job seekers in nearly every industry are having a harder time finding employment. As the latest jobs report showed on Friday, the unemployment rate has ticked up to 4.3 percent. Though that is low by historical standards, it’s a significant jump from 3.5 percent a year ago. More than 7.1 million people — each of them requiring housing, food and security — are now out of work. That’s up by more than 1 million from last summer. Americans without college degrees have been especially hard-hit. Since the post-pandemic inflation spike, the Federal Reserve has elevated interest rates to restrain price increases so rapid they poison the economy. For a year, rates have been near 5.5 percent. Miraculously, the big trade-off of high rates leading to sluggish growth and unemployment failed to manifest. No...
Excerpts from recent editorials in the United States and abroad:
Aug. 2
The Washington Post says high interest rates could be killing job gains
The post-pandemic hiring surge is over. Job seekers in nearly every industry are having a harder time finding employment. As the latest jobs report showed on Friday, the unemployment rate has ticked up to 4.3 percent. Though that is low by historical standards, it’s a significant jump from 3.5 percent a year ago. More than 7.1 million people — each of them requiring housing, food and security — are now out of work. That’s up by more than 1 million from last summer. Americans without college degrees have been especially hard-hit.
Since the post-pandemic inflation spike, the Federal Reserve has elevated interest rates to restrain price increases so rapid they poison the economy. For a year, rates have been near 5.5 percent. Miraculously, the big trade-off of high rates leading to sluggish growth and unemployment failed to manifest. No...
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