Month: January 2020

According to Beaulieu, an economics cycle forecasting expert “The first quarter of 2020 will come with a slim growth rate but won’t go negative while by the second half of the year, the economy should regain momentum in U.S. growth.” There is much reason behind this conjecture. The first and foremost reason behind this is the trade disagreement with China. Tariffs on U.S. exports to China disrupted exports demand which eventually shrunk U.S. exports volume to China, left manufacturing and other sectors into a recession. Retaliate to U.S. tariffs on the U.S. export, China has levied bulk of tariffs amounting $110 billion.

Output growth in both countries braked down since the trade dispute, two years ago. However, the U.S. has been facing more worsen circumstances since then. In the U.S., the manufacturing PMI developed by the Institute for Supply Management revealed factories output diminishing since August. Retail services in both countries were on steady-state as no bigger enhancement was witnessed. Stock markets witnessed enlargement and record double-digit yield before it went into in-depth recession in mid-February this year. Job market demonstrates little improvement, accumulation number of additional payroll job creations but missed his target throughout the trade war period.

What is ahead?

Despite the anxiety of COVID-19 which is fast-spreading and held over half of the world, will not let the growth rate improve in the current year. Observing previous month statistics the forecast looks like dramatically. A presumption, that expecting enhancing growth in upcoming months as trade dispute is leveled, isn’t look realistic. The spreading of COVID-19 had spoiled and still aching world growth. Border protectionism due to COVID-19 fear, travel ban, stock markets collapse, energy dispute between OPEC plus and commodities market collapse have demoted world economic growth. Economist predicting a new phase of economic recession by the mid of the current year.

People are been fears COVID-19 and interdicted in their homes. This interdiction weakening consumer spending and output growth ultimately. Major cultural, social and financial events have been disrupted, where a further boost in unemployment is anticipated and this time may be more severe.

Hours cut or laid off of worker is a more common theme under the recessionary situation. Workers are fears of hours cut or completely layoffs. Under such condition, it is more imperative for workers to get information regarding their status of the job. Any hours cut or laid off will definitely make them in trouble. “LaborAlert” developed by Kiwi Application-LLC (play store URL: https://play.google.com/store/apps/details?id=com.labouralerts and app store URL:  https://apps.apple.com/us/app/labor-alerts/id1113045391) provides an amazing platform to its user to get timely updates regarding the status of their job.  This information is provided to the user prior to 60 days of any layoffs, plant closure, or complete shutdown.

Labor Alerts also provides filtered statistics for companies in a given State. This tool helps the user analyze layoff data from the past and follow trends as well as forecast how the employment situation may change in the future.

To summarize, the LaborAlerts application allows you to:

• Create company layoff alerts by simply searching for the company and tapping on their “bell” symbol.
• See what companies or states are the largest affected by the layoffs or closings
• Share through social media or text.

To get started, the application need only be installed and asks for no personal data on the user. Although the application is free to use, the following subscription criteria makes for several options to suit your needs.

Download LaborAlerts on the App Store

Download LaborAlerts on the Google Play Store

Sync your devices such as your phone, and tablet to have easy access to your account and the information on the application.

A year behind, 2019, was a dramatic year. Full of manufacturing collapse, yield-curve overturns. Stock markets dropped initially and then start to recapture at the end. Gross domestic product (GDP) enlarged by 2.1 per cent in the final quarter of 2019. Nondurable goods production; retail trade, professional, scientific and technical services were the foremost funders to the upsurge in U.S. growth. The US current account shortfall lessened by $1.1 billion and touched $124.1 billion in the third quarter of 2019.

Is this motion will persist in 2020? It is still uncertain and ambiguous. The bulk of the economist forecasting another recession this summer. They foresee that COVID-19 epidemic to descend the US and European economies into a profound recession by July this year. The U.S. growth rate is likely to contract by 2 per cent first quarter and 3 per cent in the second quarter of the current year. European GDP could diminish by 1.8 per cent and 3.3 per cent in the first and second quarter correspondingly. Another foremost economy, Canada is rising at a sluggish rate of 0.3 per cent currently and further shrinking is expected. Accredited by COVID-19, the terminations of the main sporting, cultural, and business events will additionally cut into consumer spending. This dwindling in consumer spending will further diminish consumer demand and will donate to the recession.

The stock market, which was performing somehow, better till mid-February, was pushed back by the fast-spreading COVID-19. Stocks were at the height by mid-February, shrunk and touched the record low in March. The indexes are still about 20 per cent beneath record highs hit in mid-February.  Whereas each saw the deterioration of at least 8 per cent in the third week of March. Since striking the highs, markets have been overwhelmed with huge swipes in the market.

The unemployed rate which was standing-up about 3.6 per cent for the past 6 months was little altered and plunged to 3.5 per cent in February. The likely increase arose in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial services. Will this gain may persist? Definitely not, the fast-spreading COVID-19 making it tougher to continue with this speed. Layoffs are predictable and even with larger-scale. The most common theme during the recession is cut-up working hours or layoffs of workers. No one can accurately foresee the gravity of downturn but there is joint consensus amongst expert that workers layoffs are very likely. The time and magnitude of such cut-up working hours and layoffs is still not anticipatable. However, historical data and LaborAlart can provide useful insight.

The LaborAlerts Application is available on the App Store for iOS and Andriod (Google Play) devices.

To get started, the application need only be installed and asks for no personal data on the user. Although the application is free to use, the following subscription criteria makes for several options to suit your needs. Download LaborAlerts on the App Store Download LaborAlerts on the Google Play Store Sync your devices such as your phone, and tablet to have easy access to your account and the information on the application.