Economy

Wednesday, July 29th 2020 - 09:40 UTC
Brazil's labor market improving: 16% layoffs decrease and 24% increase in hires

Brazil's economy lost 1,198,363 formal jobs in the first half of the year, the Economy Ministry said on Tuesday. The figure is the result of 6,718,276 new hires and 7,916,639 layoffs over the six-month period due to the impact of the novel coronavirus on Latin America's largest economy.
Monday, July 27th 2020 - 09:38 UTC
In Argentina, 55% of all registered workers are employed by government

Public sector jobs have soared in recent years in Argentina, and from a relation of 42 every 100 registered workers, white and blue-collar, back in 2012, it has jumped to 55 currently. This means that in the 2012/2017 period, the creation of government-paid jobs was larger than the overall employment in the Argentine economy.
Monday, July 27th 2020 - 09:07 UTC
White House advisor predicts US economy will recover 20% in III and IV quarters

The US economy will grow on the order of 20% in the third and fourth quarters, a top White House economic adviser predicted on Sunday, despite reopening setbacks linked to a coronavirus resurgence.
Saturday, July 25th 2020 - 08:34 UTC
Washington announces nominee for next head of OECD

White House advisor Chris Liddell will be Washington's nominee to be the next head of the OECD, an administration official said on Friday, putting a Trump ally in the running to lead the association of advanced economies.
Friday, July 24th 2020 - 09:10 UTC
Argentine economy slides 13,2% in five months, despite a slight moderation in May

Argentina's economic activity experienced an annual 20,6% fall in May moderating the collapse in April, following the quarantine measures implemented because of the pandemic. The data was released this week by Indec, the official stats office, and shows that economic activity in May actually recovered 10% compared to April.
Friday, July 24th 2020 - 08:42 UTC
An estimated 40,000 tourism related businesses permanently closed in Spain

Devastated by the loss of customers during the virus crisis, around 40,000 bars, hotels, and restaurants in Spain have permanently closed, the hotel and catering industry said. The figure amounts to 13% of such establishments in Spain, a country in which tourism plays a major role in the economy, and where the population tends to eat out very often, Spain's hostelry federation said.
Friday, July 24th 2020 - 08:39 UTC
Filing for unemployment benefits in the US rose for the first time in four months

The number of Americans filing for unemployment benefits unexpectedly rose last week for the first time in nearly four months, suggesting the labor market was stalling amid a resurgence in new COVID-19 cases and depressed demand.
Thursday, July 23rd 2020 - 09:54 UTC
Chilean private pensions' funds divestment anticipates major political challenge for the Piñera administration

Chilean senators on Wednesday voted to approve a controversial bill that allows citizens to withdraw 10% of their pension savings to help ease the economic impact of the coronavirus outbreak.
Wednesday, July 22nd 2020 - 08:10 UTC
Argentine debt negotiations: Cristina Fernandez praises Minister Guzmán's performance

Argentine vice-president Cristina Fernandez de Kirchner praised Minister of Economy Martin Guzmán statements during a television program in Buenos Aires and described he was “clear as crystal water”, in his replies
Wednesday, July 22nd 2020 - 08:06 UTC
Putin approves a US$ 4bn loan to Venezuela

Russian President Vladimir Putin has signed a law ratifying the protocol to the intergovernmental agreement on providing a loan to Venezuela by Moscow, which guarantees timely debt repayment to Russia.