— In August, 263,000 new jobs were created in the U.S. and the unemployment rate ticked down to 3.5%; markets sank on the good news since more interest rate increases are likely to flight inflation by slowing the economy.
— In September, job layoff announcements increased by 46% from August, according to data from employment agency Challenger, Gray & Christmas.
— The ISM Manufacturing Index for the U.S. fell more than expected to 50.9, the lowest level since the worst of the pandemic recession in May 2020.
— OPEC said it will cut oil output by 2 million barrels/day, adding to U.S inflation concerns, despite the Biden Administration’s efforts to dissuade the move.
— Louisiana will pull $794 million in pension money from BlackRock Investments because the company’s push for ESG investing is harming the fossil fuel industry.
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