
US Layoffs, Hiring Freezes Are Tip of Labor Market Slowdown
The US labor market is stronger today than many thought possible. But cracks are emerging, signaling that it’s not going to last.
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The US labor market is stronger today than many thought possible. But cracks are emerging, signaling that it’s not going to last.
Business activity in Europe and the US stumbled this month as high inflation, lingering supply constraints and rising borrowing costs took a bigger toll.
Chevron Corp. plans to sell its campus in San Francisco Bay area and give employees the option of moving to Houston in the latest corporate relocation to Texas.
(Bloomberg) -- Nobel Prize-winning economist Paul Krugman questioned the lure of abortion-restrictive states such as Florida and Texas after the US Supreme Court on Friday overturned the 1973 Roe v. Wade decision and wiped out the constitutional right to the procedure.
Former Treasury Secretary Lawrence Summers said that it will be important for policy makers to allow any coming US recession to do the job of quelling inflation, and to avoid mistakes made in the 1970s, when surging prices became entrenched.
Jun 19, 2019
BNN Bloomberg
,Toronto has quickly become a global hub for shared work spaces, a new report says.
Canada’s largest city ranks third behind London and New York in the rate of new shared office openings, according to research by CoworkingResources. A new space opens every 13 days in Toronto, compared with every five days in London and 7.5 days in New York, the report says.
Vancouver was the only other Canadian city to crack CoworkingResources’ top 50 markets for new shared offices, coming in at number 31 with a new space opening every 40.7 days.
The report by CoworkingRescources tracked all coworking office openings from June 2018 to April 2019.
Coworking spaces have become increasingly popular in recent years as companies look to cut costs. CoworkingResources says rising real estate prices have pushed many small- to mid-sized businesses to explore shared spaces. In Toronto, demand for office space has outpaced supply, leading prices to surge to more than $35 per square-foot in the fourth quarter of 2018, according to CBRE. That’s a $2.50 increase year-over-year, making it the second priciest market in Canada, behind Vancouver.
The report adds that shared work spaces are at an all-time high and growing rapidly globally. The number of spaces has nearly tripled worldwide since 2015 and is expected to surpass 20,000 offices soon.
WeWork Cos., the industry’s largest player with more than 600 global locations, recently filed for an IPO. Analysts believe the listing could end up being the year’s largest behind Uber Technologies Inc.