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Business Recorder
2 days ago
- Business
- Business Recorder
Gold falls as strong US payrolls data douses rate cut hopes
NEW YORK: Gold fell 1% on Thursday as stronger-than-expected US payroll data cemented expectations that the Federal Reserve is unlikely to cut interest rates as early as previously anticipated, denting the metal's appeal. Spot gold fell 1% to $3,325.48 per ounce as of 1303 GMT, while US gold futures were down 0.7% to $3,336.00. The dollar and US stock index futures rose after non-farm payrolls increased by 147,000 jobs last month, the Labour Department's Bureau of Labour Statistics showed. Economists polled by Reuters had forecast payrolls rising 110,000. Stronger dollar makes bullion more expensive for overseas buyers. 'The better than expected jobs number means we see a lesser likelihood of a Fed rate cut earlier than currently anticipated. As a result, the dollar strengthened which is adding pressure to the gold market,' said David Meger, director of metals trading at High Ridge Futures. 'The key is the fact that the idea or possibility of a July rate cut is off the table.' Investors are now pricing in 53 basis points of Federal Reserve rate cuts by the end of the year, starting in October, down from around 66 basis points expected prior to the report. Non-yielding gold tends to perform well in a low-interest-rate environment. On the trade front, an agreement between the United States and Vietnam was announced on Wednesday ahead of a July 9 deadline when US tariffs are set to take effect. Meanwhile, Republicans in the US House of Representatives advanced Trump's massive tax-cut and spending bill, estimated to potentially add $3.4 trillion to the nation's debt, toward a final yes-or-no vote. 'As the indebtedness of the US continues to grow, investors might become more concerned about the US dollar, which should benefit gold in the longer-term,' said Carsten Menke, an analyst at Julius Baer. Spot silver edged down 0.2% to $36.51 per ounce, platinum lost 2.9% to $1,376.80 and palladium shed 2.3% to $1,128.78.
Economist
7 days ago
- Business
- Economist
America's economic data are becoming murkier
EVERY DAY HUNDREDS of Americans take to the streets to collect prices for the Bureau of Labour Statistics (BLS), the government's economic-data agency. Enumerators in 75 urban areas track fluctuations in the costs of a 'market basket' of goods and services, from blood tests at doctors' offices to rental fees for two-bedroom apartments and cinema tickets. The numbers they gather feed into the Consumer Price Index (CPI), a statistical tool used to calculate inflation.
Time of India
27-06-2025
- Business
- Time of India
Degrees that pay: 5 courses to secure a fat paycheck by 2030
College degrees with high ROI For decades, the pursuit of a college degree has been sold as the golden ticket to financial security and upward mobility. But in today's world, where a four-year college education in the United States can cost over $153,000, that golden ticket is looking increasingly expensive. For many students and families, the question is no longer just "Should I go to college?" but rather, "What should I study to make it worth the price tag?" In response to this growing concern, a new study conducted by Student Choice, drawing from data by the Bureau of Labor Statistics, has turned the spotlight on academic degrees with the highest financial return after just five years in the workforce. At a time when nearly 43 million Americans are weighed down by federal student loan debt, this analysis is more relevant than ever. If you're looking to future-proof your finances, here are the top degrees that promise not just knowledge, but a lucrative return on your educational investment, according to the data presented by the Bureau of Labour Statistics. 1. Engineering Top Role : Aerospace Engineer Highest ROI Job : 326% Engineering continues to be the cornerstone of high-value education. From designing aircraft to building the next green city, engineers are in demand across industries. With a median ROI exceeding 326%, engineering majors see their tuition costs not just recouped, but more than tripled, within five years of entering the workforce. Aerospace engineers, in particular, enjoy some of the loftiest returns, both figuratively and literally. 2. Computer Science & IT Top Role : Computer and Information Systems Manager Highest ROI Job : 310% If there's one field redefining 21st-century success, it's technology. Majoring in computer science or IT doesn't just open doors, it flings them wide open. With roles in cybersecurity, software development, and data analytics booming, graduates can expect a five-year ROI north of 310%. Those who rise to managerial positions in IT lead the pack with a staggering 553.7% return, making tech not just cool but incredibly profitable. 3. Nursing Top Role : Registered Nurse / Advanced Practice Nurse Highest ROI Job : 280.9% The healthcare sector's heartbeat is strong and growing stronger. With an ROI close to 281%, nursing offers a financially stable and emotionally rewarding career path. Demand for skilled nurses continues to climb, especially in the wake of global health challenges, making this a smart and sustainable investment. 4. Accounting Top Role : Financial or Accounting Manager Highest ROI Job : 261% While numbers may not be everyone's passion, they certainly pay off. Accounting majors, especially those who pursue certification and managerial roles, enjoy steady income growth and a 261% ROI. In a world where financial oversight is more crucial than ever, skilled accountants remain indispensable across industries. 5. Biochemistry Top Role : Pharmaceutical or Biotech Researcher Highest ROI Job : 248% For those fascinated by the science behind life, biochemistry offers a fulfilling and financially viable future. With emerging fields like genomics and personalized medicine gaining traction, biochemists are playing central roles in innovation. A 248% ROI ensures that this career choice is as strategic as it is scientific. Highest-Paying Jobs by ROI A separate look at specific professions (regardless of degree) reveals even more eye-opening numbers: Job Title Five-Year ROI Computer & Information Systems Manager 553.7% Marketing & Advertising Manager 511.4% Aerospace Engineer 427.0% PR & Fundraising Manager 426.2% Software Developer 425.1% These numbers highlight the immense earning potential of not only choosing the right degree—but also leveraging it into a strategic career path. A word of caution: ROI is not the only metric While these figures paint a promising picture, Student Choice reminds future students to consider other crucial variables, loan interest rates, repayment models, housing and living expenses, and most importantly, personal fit. High ROI is attractive, but unsustainable if you're burnt out or disinterested in the work. Education, after all, should be both empowering and economically sound. Final takeaway: The smarter way to spend $153K By 2030, the landscape of employment and education will continue to evolve, but one truth remains constant: choosing the right degree can mean the difference between thriving financially and merely surviving debt. Whether your path lies in coding, caregiving, accounting, or chemistry, make sure your degree not only aligns with your interests but also pays you back for the investment you've made. Because in the end, a great education should not just open your mind, it should open doors. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
Yahoo
06-06-2025
- Business
- Yahoo
Europe ends largely higher after US jobs report
European blue-chip stocks ended largely higher on Friday, growing in confidence after a stronger-than-expected US nonfarm payrolls reading. The FTSE 100 index rose 26.87 points, 0.3%, at 8,837.91. The FTSE 250 ended up 87.90 points, 0.4%, at 21,157.28, and the AIM All-Share climbed 2.42 points, 0.3%, at 756.88. For the week, the FTSE rose 0.8%, the FTSE 250 added 0.6%, and the AIM All-Share shot up 1.4%. In Paris, the CAC 40 rose 0.2%, while Frankfurt's DAX 40 ended 0.1% lower. The pound was quoted at 1.3522 US dollars late on Friday afternoon in London, lower compared to 1.3596 dollars at the equities close on Thursday. The euro stood at 1.1387 dollars, lower against 1.1456 dollars. Against the yen, the dollar jumped to 144.93 yen compared to 143.57 yen. The US economy added more jobs than expected last month, although the pace of hiring eased, numbers on Friday showed. According to the latest nonfarm payrolls from the Bureau of Labour Statistics, 139,000 more jobs were added to the US economy in May, topping the FXStreet-cited consensus of 130,000. The pace of job creation abated from 147,000 in April, a figure which was downwardly revised from 177,000. March's figure was revised down to 120,000 from 185,000. It means that in April and March combined, 95,000 fewer jobs were created than previously reported. The unemployment rate in May was 4.2%, in line with consensus and unmoved from April. The BLS said the jobless rate has been in a narrow range of 4.0% to 4.2% over the past year. Schroders analyst George Brown said: 'While it is premature to conclude the US economy will weather the tariff turmoil, the early signs remain encouraging, with a respectable 139,000 jobs created in May. Evidently there is a risk that the hit to confidence eventually leads to a sharp retrenchment. But we view this as unlikely given Donald Trump's first presidency demonstrated this is just part of his unconventional approach to deal-making. 'And while recent court rulings lower the risk of tariffs being raised to prohibitive rates, elevated inflation expectations will mean the Federal Reserve will be wary of falling behind the curve again. As such, our base case remains that the Fed will keep rates on hold for the rest of the year.' The yield on the US 10-year Treasury was quoted at 4.48%, stretching from 4.39% a day prior. The yield on the US 30-year Treasury was quoted at 4.94%, widening from 4.89%. In New York, the Dow Jones Industrial Average was up 0.8%, the S&P 500 climbed 0.9% and the Nasdaq Composite sat 1.1% higher at the time of the closing bell in London. Tesla shares perked up 5.9%, after a 14% slump on Thursday. Nonetheless, the spat between the electric carmaker's chief executive Elon Musk and US president Donald Trump continued. The White House squashed speculation that Mr Trump and Mr Musk would patch up their stunning public feud, saying the US president had no plans to call his billionaire former aide on Friday. Mr Trump lobbed fresh insults at the South African-born Mr Musk a day after the fiery implosion of their unlikely political marriage, saying the tech tycoon had 'lost his mind'. In a telling symbol of how their relationship had deteriorated, the president was even considering selling or giving away a Tesla he had bought to show support for Mr Musk amid protests against the company. On the move in London, banking shares helped support the FTSE 100. StanChart rose 2.9%, while Barclays added 1.9%. Defence stocks, which have enjoyed a strong week, returned some progress. BAE Systems shed 2.6%, snapping a five-day winning streak. Babcock lost 4.3%. Elsewhere, Dr Martens extended gains, adding another 8.7% after a more than 25% jump on Thursday. The boot maker had signalled a return to growth in the year ahead and a refreshed strategy on Thursday. Pinewood Technologies shot up 11%. The Birmingham-based provider of software to the automotive retailing sector said it has agreed to buy out a 51% stake in its joint venture, Pinewood North America, from Lithia UK for 76.5 million dollars in shares. Lithia UK is a wholly owned subsidiary of Oregon, US-based car dealer Lithia Motors. Pinewood said that it will enter a five-year contract with Lithia to roll out its software to all Lithia's current and future sites across the US and Canada by the end of 2028 at the latest. The company said it expects to generate around 40 million dollars in annual recurring revenue from Lithia in North America once its platform has been fully deployed. The biggest risers on the FTSE 100 were Standard Chartered, up 33.50 pence at 1,186.00p, 3i Group, up 115.00p at 4,265.00p, Hiscox, up 25.00p at 1,351.00p, Barclays, up 6.15p at 333.20p, and Aviva, up 11.20p at 626.80p. The biggest fallers on the FTSE 100 were Babcock International, down 48.00p at 1,057.00p, Anglo American, down 76.50p at 2,217p, Endeavour Mining, down 74.00p at 2,312.00p, Antofagasta, down 52.00p at 1,895.50p, and BAE Systems, down 51.50p at 1,930.50p. Brent oil rose to 66.21 dollars a barrel late in London on Friday afternoon, from 65.51 dollars late on Thursday. Gold was quoted lower at 3,330.06 dollars an ounce against 3,364.84 dollars. Monday's economic calendar has a Chinese consumer price inflation reading overnight. As the week progresses, there is UK unemployment data on Tuesday and a gross domestic product reading on Friday. Stateside, there is consumer price inflation data on Wednesday, before the producer price index on Thursday. Next week's UK corporate calendar has trading statements from housebuilder Bellway on Tuesday and grocer Tesco on Thursday. Contributed by Alliance News. Sign in to access your portfolio
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Business Standard
05-06-2025
- Business
- Business Standard
US trimming collection of consumer price data, raising reliability fears
The Bureau of Labour Statistics stated that the cuts would have 'minimal impact' on estimates of the overall inflation rate, though they could "increase the volatility" of more detailed measures NYT The Bureau of Labour Statistics is cutting back its collection of data on consumer prices, raising questions about the reliability of federal economic statistics under President Trump. Every month, a small army of government workers visits stores and other businesses across the country to check prices of eggs, underwear, haircuts, and tens of thousands of other goods and services. The data collected is the basis for the inflation measures that determine cost-of-living increases in union contracts and Social Security benefits and that guide policymakers at the Federal Reserve when they set interest rates, among other applications. The agency said the cuts would have 'minimal impact' on estimates of the overall inflation rate, though they could 'increase the volatility' of more detailed measures, such as price indexes for individual categories or regions. But economists said the cuts were the latest blow to a statistical system that was already struggling to maintain the quality of its data in the face of tight budgets and declining response rates to government surveys. Those issues predate the Trump administration. In a major report last year, the American Statistical Association warned that the reliability of economic data and other government statistics was in jeopardy. But those concerns have grown since Mr. Trump returned to office. In March, Howard Lutnick, the commerce secretary, suggested that he planned to change the way the government calculated gross domestic product. The administration also disbanded several advisory committees that provided input on statistical issues. And numerous government data sets were taken offline early in Mr. Trump's term, although most have been restored. But many are worried about a gradual erosion in the quality of government data. Mr. Trump has proposed further budget cuts at the statistical agencies, and his freeze on federal hiring, combined with the buyouts he offered early in his term, has led to increased staff attrition. In May, the Bureau of Labour Statistics said it was discontinuing publication of some data on wholesale prices. The cuts in the consumer price data could be another example of that erosion. Jed Kolko, who oversaw economic statistics at the Commerce Department during the Biden administration, said the pullback in data collection was 'collateral damage rather than intentional harm, but still damage.' 'This isn't the moment when we want our read on inflation to get fuzzier,' Mr. Kolko wrote in a text message. Any loss in reliability could be a particular problem for policymakers at the Fed, who use inflation data — as well as government statistics on unemployment, consumer spending and other areas of the economy — to decide how to set interest rates. Ryan Sweet, chief U.S. economist for Oxford Economics, said the bureau's announcement was 'very concerning.' William Beach, who led the Bureau of Labour Statistics during Mr. Trump's first term, said there was also a longer-run concern. If the public loses faith in government data, people and businesses will be less likely to provide the information the agencies rely on — further eroding the quality of the data. 'It has to be gold standard — everything you produce has to be that way,' he said. 'When you start to work around cost issues or personnel issues or political issues from the White House, the numbers begin to suffer and trust drops.'
