Job Losses Mounted In October As Employers 'Struggled'—And Wall Street Projects Grim Job Markethttps://t.co/MtWSktberg https://t.co/tYAsnWS3et ...

Employers said they cut more than a million jobs so far this year, a sharp rise in job losses compared with the same period last year, according to a new report https://t.co/3OeBXnVEsy ...

The adoption of labor-saving artificial intelligence technology could help push down inflation to pre-pandemic levels, but it could also lead to job losses along the way, at least one economist predicts. https://t.co/hikG9BaMx6 ...

Core Viewpoint - The proposed increase in business rates by the Chancellor is expected to jeopardize approximately 120,000 jobs in the retail and hospitality sectors, as businesses face higher costs and potential closures [1][2][4]. Group 1: Impact on Employment - The British Retail Consortium (BRC) and UK Hospitality estimate that hundreds of sites could close due to the business rate changes, leading to around 120,000 job losses [2]. - Retail and hospitality leaders have expressed concerns that the changes will force large "anchor" stores and entertainment venues to shut down, further impacting employment [4]. Group 2: Business Rate Changes - The proposed overhaul of business rates will increase levies on larger premises to alleviate costs for smaller sites, set to take effect next April [2][3]. - Labour argues that the reform aims to revive city centres by leveling the playing field between high street retailers and online giants [3]. Group 3: Industry Concerns - Retail and hospitality executives have called for exemptions from the higher business rates to protect jobs and anchor stores [4][5]. - Tesco and Sainsbury's have warned that increased business rates could accelerate the decline of high street businesses [5]. Group 4: Consumer Spending and Economic Pressure - Businesses are facing additional pressure as consumer spending declines, with retailers reporting a 27% drop in sales year-on-year as of October [6]. - Consumer confidence remains low, exacerbated by caution ahead of the upcoming Autumn Budget [6]. Group 5: Rising Costs - The planned changes to business rates could lead to increased food prices, which have already risen by nearly 5% over the past year [7]. - Retailers are also dealing with higher costs from previous budget measures, including increased employer National Insurance rates and minimum wage [7].

"It felt like the floor fell out." Work in L.A.'s entertainment economy is evaporating, and the city's creative class is hanging on by a thread. 🔗 https://t.co/f21e6tzJ7G https://t.co/oeK8kyHz5D ...

Economic Overview - The U.S. economy is showing mixed signals with strong GDP growth and record stock market highs contrasted by weak job reports and rising inflation [1] - President Trump's tariffs are causing concerns regarding their impact on consumer prices, GDP growth, and the labor market [1] GDP Growth and Economic Projections - Tariffs could lead to a GDP growth decline of approximately 0.9 percentage points by 2025, with long-term effects potentially reducing annual real GDP by about 0.6% [3] - A long-run GDP drop of around 6% is projected, along with wage reductions of roughly 5% [3] Inflation and Consumer Prices - Tariffs are expected to raise inflation by about 0.4 percentage points in both 2025 and 2026, reducing household and business purchasing power [4] - Tariffs are described as functioning like taxes, leading to higher business costs that are typically passed on to consumers [4] Labor Market Trends - There is a sustained slowdown in job creation, with only 22,000 jobs added in August 2025 and a decline of 12,000 manufacturing jobs [5] - Unemployment rose to 4.3%, the highest level since 2021, indicating ongoing job losses in sectors such as manufacturing, mining, and construction [5][6] Financial Market Reactions - Stock markets reacted sharply to the announcement of broad tariffs in April 2025, with significant declines in both the S&P 500 and Nasdaq [7] Revenue vs. Economic Costs - While tariffs are generating significant federal revenues, economic models suggest that the losses in GDP and wages outweigh these gains [8]

Economic Overview - The U.S economy experienced job losses in June [1] Political Context - Joe Biden is the only U.S president on record who never presided over job losses during his term in office [1]

Trade War Impact - ECB research indicates potential job losses in Europe due to Trump's trade war, as China may redirect goods to Europe [1] - Hundreds of thousands of European jobs are at risk [1]

A recent study showed that by 2034, the annual economic impact of cuts to Medicaid are estimated to result in more than 400,000 jobs lost and $183 billion in reduced economic output. https://t.co/ZPgFhFPA8o ...