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Economy
US Unemployment Rate Fell 6.3% in January as Hiring Picks Up
February 05, 2021 07:44 AM PST| By Team Kalkine Mediaanxious on Congress pending verdict on Biden’s USD 1.9 trillion relief plan. US unemployment rate fell to 6.3 per cent in January as employers resumed hiring, but the job market would still take time to nurse back to health fully. Accordi...
Positive Labor Report lifts hopes of US Economic Recovery
February 04, 2021 09:42 AM PST| By Team Kalkine MediaSource:wrangler, Shutterstock Summary US Labor Department reports a third consecutive decline in unemployment benefits claim. The current number is still higher than the previous figures recorded since 1967. The job market is expected t...
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Construction sector in the driver’s seat as employment rises in NZ
February 03, 2021 06:38 PM PST| By Kunal SawhneyLabour market is slowly coming out of the shadow of COVID-19 pandemic. Employment is seen picking up in New Zealand as the unemployment rates dropped to 4.9% in the quarter ended December 31,2020 as against 5.3% in the previous quarter of September.....
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Why NZ’s Q4 2020 new home approvals are in record numbers
February 03, 2021 05:50 PM PST| By Kunal SawhneyResidential construction continues to be on a rise. New homes consented reached a record high in Q4 of 2020. As per Stats NZ, 11,291 new homes were consented in the fourth quarter of 2020, beating the earlier record of 10,713 set in December 1973......
Why private house approval hit a new high in December 2020
February 02, 2021 06:38 PM PST| By Team Kalkine MediaThe private sector house approvals surged for the sixth straight month in December and hit a record high amid robust demand due to stimulus measures and low-interest rates. While the approvals for private houses jumped 15.8 per cent in December, dw.....
New Zealand’s trade balance positive for first time in 10 years
January 31, 2021 05:23 PM PST| By Mark O'DonnellThe value of imports that made into New Zealand in 2020 was $7.4 billion lower than in 2019. Total imports fell from $64.4 billion to $57.0 billion as supply chains were disrupted by COVID-19 and demand in NZ for exports dropped as well. Goods tha.....
Republicans Downsize Biden’s Covid Package to USD 618 Billion
January 31, 2021 09:38 AM PST| By Team Kalkine MediaSource:bluebay, Shutterstock Summary Senate Republicans propose USD 618 billion in a toned-down version of Biden’s USD 1.9 trillion stimulus plan. Republicans exclude funding for state governments and local government and minimum wage hi...
US Economy Sees Largest Decline Since WWII But Recovery On Track
January 28, 2021 07:34 AM PST| By Team Kalkine MediaSource: Natee K Jindakum, Shutterstock Summary US economy contracts by 3.5 percent in 2020, biggest plunge since WWII. Number of jobless claims reduced to 847,000 in the week ending January 23. The International Monetary Fund (IMF) forec...
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Auckland’s average Housing rent expected to crack $600 per week
January 27, 2021 05:56 PM PST| By Mark O'DonnellAccording to latest report, the average Auckland rent increased to $595 per week in December 2020. This represents a 2.1% increase on the average rent a year prior, or an extra $12 a week. Rent freeze comes to an end The government initiated a re.....
Brexit rules prompt Amazon to restrict alcohol sale in Northern Ireland: Report
January 27, 2021 07:18 AM PST| By Kunal SawhneyUK-based broadcaster ITV PLC (LON: ITV) reported that US multinational company Amazon has stopped the sale of beers, wines, and spirits in Northern Ireland because of the new Brexi.....
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Why Australia’s consumer prices climbed in December quarter
January 26, 2021 06:47 PM PST| By Hina ChowdharyThe consumer prices soared 0.9 per cent in the December quarter even as the Australian economy suffered the economic fallout from the COVID-19 pandemic in 2020. In the September quarter, inflation stood at 0.7 per cent. Image Source: Shutt.....
Biden eyes long-term gain over short-term pain from drilling freeze
January 26, 2021 07:15 AM PST| By Team Kalkine Media9 percent of the total Industry weighs legal options to reverse order President Joe Biden’s order to halt new oil and gas leasing on federal land will have a rippling effect on the industry but it is part of his larger plan to make the U....
Graeme Hart made NZ$3.5 bn during pandemic, Oxfam study suggests wealth tax
January 25, 2021 12:00 AM PST| By Team Kalkine MediaThe fact that Graeme Hart, New Zealand’s richest man, made fortunes of NZ$ 3.5 billion during COVID-19 pandemic alone, the inequalities in the economic system were highlighted once again. This also brought forth the need for a wealth tax.&nbs.....
What will be the impact of Brexit on NZ’s primary industry exporters?
January 23, 2021 11:27 PM PST| By Team Kalkine MediaThe United Kingdom (UK) broke off from the European Union completely on January 1, 2021. In the transition period between declaring breakaway from Brexit and actually exiting, there were months of arduous negotiations and certain conclusions were r.....
Annual CPI inflation reaches 1.4% in December 2020 quarter
January 21, 2021 06:10 PM PST| By Hina ChowdharyNZ CPI inflation struck 1.4% in December 2020 quarter compared to the same quarter in 2019, as per Stats NZ figures, released on 22 January. Economists had anticipated inflation to slide to 1.1%. In the December 2020 quarter, CPI increased 0.5% comp...
PM Ardern confirms above 18K state homes to be built by 2024; Will it end NZ’s housing crisis?
January 21, 2021 12:48 AM PST| By Mark O'DonnellPrime Minister Jacinda Ardern has affirmed the Labour Government’s promise to build more state homes as the waiting list for them grows to around 22,500 people. A total of 8,000 new homes were promised by Labour during its campaign in the le.....
On Day One, Biden reverses a raft of Trump decisions
January 20, 2021 06:58 AM PST| By Team Kalkine MediaSource:Stratos Brilakis, Shutterstock President Joe Biden has begun his first day in Oval Office by signing a flurry of executive orders to overturn his predecessor Donald Trump’s controversial decisions that had raised political storms at hom...
What is New Zealand government’s plan to counter housing crisis?
January 18, 2021 09:18 PM PST| By Mark O'DonnellNZ housing crisis appears to be too enormous for the government to solve without risking the whole economy, or perhaps, it is apathy or a political strategy. It might be a mixture of all the things mentioned above. The Housing Crisis The housing .....
Property values in NZ witness strong price growth in last 10 years
January 18, 2021 07:53 PM PST| By Team Kalkine MediaThe average asking price rose in nearly every NZ district between 2011 and 2020, as per REINZ data. Property owners made some extravagant returns from the value gains witnessed in the last 10 years. Vanessa Taylor, the property consultant spokespe.....
Bitcoin A Currency Reserve? Ex-Canadian PM Stephen Harper Says Yes
January 18, 2021 10:44 PM AEDT| By Kunal SawhneyCan bitcoin, the world’s largest cryptocurrency, become a reserve currency? While many analysts are concerned over the crypto’s volatile nature, former Canadian Prime Minister Stephen Harper claims it is certainly a possibility. While ad...
