For many years, the state pension funds like CalPERS have invested money that has been earned by different government employees, teachers and firefighters with private equity firms. But till now people did not have a clear picture about the expenses they are incurring or how much were earning.
In October, the unemployment rate in Mississippi dropped lower than six percent and that's the first time it has been so, since late 2007. More number of people was reported to find jobs bringing the jobless rate to 5.9 percent compared to September's 6.1 percent. In October 2014, the jobless rate was at 7.3 percent rate with this Octobers figures showing a greater optimistic outlook.
San Francisco Fed President John Williams sees a “Strong Case” for an Interest Rate Hike in December
On Saturday, one of the top Federal Reserve official said that, raising of interest rate when the policy makers meet next month looks to be a "strong case". But that depends on the U.S. economic data and as long as it remains healthy the chances of a hike stay optimistic.
This month, some U.S. Federal Reserve officials said the short term interest rate hike in nearly a decade could be a possibility in December. One of the key central bankers opined that the time is now right where the risk of waiting for a very long time was appropriately in balance with the risk of making the rates normal too soon, after it has been close to zero for seven years.
Slow Growth in GDP Predicted in the Fourth Quarter; Retail Sales Climb 0.1Percent in October in the U.S
In the United States, compared to the expected numbers, the retail sales statistics grew at a sluggish pace in October. In the same month the automobile sales numbers made an unforeseen decline. The lukewarm retail scenario, slowed by less spending and warmer weather serves as the main factor which could bring down the economic growth results in fourth quarter of 2015.
The economists' predictions turned out to be true for Japan as the country's economy fell into a recession. In the third quarter, the economy contracted with a drop in business investments. It's the second time the nation is facing a recession after Prime Minister Shinzo Abe joined office in 2012 end.
The October trade figures of China disappointed the analyst as the margin between the expectations and reality was quite wide. The weak figures reinforce views that the second-largest economy in the world needs to do more in order to boost its domestic demand while there is a softness noted in the markets overseas.
The Lehigh Valley facility of Kraft has been for forty years making cheese slices, Grey Poupon mustard and for some years single-serve coffee pods. Its long history is coming to an end in the coming two years. The Upper Macungie Township will be left vacant and 415 employees will lose their jobs.
After all, an interest rate hike may be on the cards by the end of this year. On Wednesday, two of the officials of the Federal Reserve said the central bank could raise its short term benchmark interest rate in December if the economic growth shows a steady growth and that once again hammers the message, which has kept the market optimistic.
On Sunday, an official survey revealed that in October, China's activity in the manufacturing sector dropped suddenly. It's the third consecutive month when the activities contracted in the second largest economy of the world. The contraction is factory activities injects further fears that the economy might further cool down in the last quarter of the year.
Fed officials have the kept the optimism and the hopes high on, with a likely chance of interest rate increase at the end of this year. But that will depend on certain factors like the global market conditional, the job gains or the employment rate and the inflation in the country.