American’s new reservation wage increased by 5.7% relative to last year. The most recent labor-market survey conducted by the Federal Reserve Bank of New York shows that American workers want a minimum of $72,873 a year to accept a new job. Experts believe the substantial increase in the reservation wage is due to the current high level of inflation.
Tag: markets
Oil Slides Under $90 to Fresh Six-Month Lows on Demand Worries (Micro News for August 6, 2022 – August 12, 2022)
Oil traders sold oil after determining gasoline demand was falling. U.S. Brent crude oil prices fell to $88.54 per barrel after a government report showed crude oil and gasoline inventories were moving higher. The unexpected news triggered a selloff and world price of Brent crude fell by about 3%. Oil prices are 28% below their closing price on March 8, 2022.
Gas Prices Skyrocket as the Global Energy Crisis Worsens (Micro News for October 9, 2021 – October 15, 2021)
Strong energy demand is back as the global economy continues to recover from the Covid-19 pandemic. U.S. oil prices are $120 a barrel higher than they were in April 2020 when they fell to a negative $40 a barrel. Now U.S. crude is over $80 a barrel which is a price not seen since October 2014.
One Reason House Prices Could Stay Sky-High (Micro News for September 4, 2021 – September 10, 2021)
As recently as last month, some experts believed the housing market was beginning to cool down. Higher prices were limiting buyers and home improvement spending slowed down indicating that many homeowners were no longer getting homes ready to sell. However, these experts could have called the top too soon.
Pearson Economic News 