New research shows that the ranks of the higher earners have grown markedly over the last 50 years, while the lower rungs of the middle class have shrunk.
The labor market is holding together, but the hopeful story of reacceleration has given way to a narrower question: How much damage will the Iran war do?
S&P Global’s purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February as a rise in energy prices brought on by the war in the Middle East eroded confidence.
Developments with the war in the Middle East will remain at the center of investors’ minds as heightened uncertainties remain over when the war will end.
The central bank last month left its key interest rate unchanged at 2%, but set out a number of ways in which developments in the Iran War might affect the eurozone’s economic outlook.
U.S. jobless claims declined last week, with little sign so far that the rise in global energy prices prompted by the conflict in the Middle East is scarring employment.
Swiss inflation last month rose to its highest level since March last year and imported oil-and-gas price increases are expected to raise inflation in the coming year.
South Korea’s headline inflation accelerated in March—the first reading since the Middle East conflict began—highlighting the early effects of surging energy costs on the trade-reliant economy.