Tag Archives | unemployment

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Young populations lead social unrest in MENA

Revolution and unrest have many causes. Very often, as now in the Middle East and N Africa (MENA), their strength is due to a wide range of economic, social and political factors combining to create a coalition of angry people. Age profile is also a key factor. As shown in the above chart, based on […]

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Unemployment hits US auto sales in 2010

As the chart shows, December’s US auto sales (orange line) were the highest monthly level since August 2009′s ‘cash for clunkers’. But it was only achieved via a massive 7% jump in purchase incentives, which were back at Q2 2009 levels of $2700/vehicle. And 2010 was still the second worst year for sales since 1982, […]

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EU unemployment remains at 10%

EU governments have spent enormous sums of money to support the economy over the past year. Yet in terms of a key indicator such as unemployment, the situation has got worse rather than better. This is bound to restrain consumer spending, a key factor for domestic EU chemical demand. Eurozone unemployment hit 10% in February, […]

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US consumer demand growth stalls

The American Chemistry Council has recently updated its invaluable work on US polymer chain inventories. Last December this led the blog to conclude that we would see “a strong H1“, as inventories were low, whilst demand was likely to rise supported by seasonal and stimulus factors. But the ACC’s latest analysis (above) leads to a […]

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Western retailers rely on luxury or budget sales

Consumer spending, particularly in the developed economies, is critical to the chemical industry. And there is increasing evidence that a two-tier pattern is developing: • Wealthier consumers are maintaining their spend, helped by lower interest costs on mortgages and recent stock market gains • Lower and middle-income consumers remain under pressure, as they are more […]

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China focuses on domestic issues, risks US anger

China is a very difficult country for foreigners to understand. The blog suspects that the best approach is to apply Winston Churchill’s insight on Russia, namely “I cannot forecast to you the action of Russia. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is […]

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Another “unexpected” economic report

Every day, the word “unexpected” appears next to a downbeat economic report. The latest example was yesterday’s US employment report, where the consensus forecast was for a jobs gain of 180k. Yet it has been clear for months that this has been a ‘jobless recovery’, and so the actual figure of only 41k new jobs […]

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Eurozone unemployment hits 10%

The rate of unemployment is an important leading indicator for chemical industry demand. It measures the number of people who currently don’t have much spare cash to spend on discretionary purchases. And when the jobless rate is rising, it also impacts the spending patterns of those still in work, as they often choose to save […]

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US job losses hold back consumer spending

SOURCE: WWW.CHARTOFTHEDAY.COMUS consumers were responsible for 16% of total world GDP in 2008. But their spending is taking a battering from the combination of high unemployment and high oil prices. Both are reducing end-user demand for chemical products. New government estimates suggest US employment has fallen by 8.4m jobs since the downturn started in December […]

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1 in 4 US children on food stamp aid

Wall Street may be paying out $bns in bonuses. But in the rest of the USA, rising unemployment and foreclosure are having a major impact. In a new analysis, the New York Times reveals that the Federal food stamp programme “now helps feed one in eight Americans and one in four children“. Renamed the Supplemental […]

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