Be Well: How Global Events Are Impacting the U.S. Economy
Marty Cantor, CPA and economic development consultant, joined Cheddar News to talk about how global events continue to impact the U.S. economy. Cantor cited a range of topics, including Moscow's decision to halt the safe export of Ukrainian grain and rising oil prices as a result of Saudi Arabia scaling back on the number of daily barrels it puts into production.
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
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