News 

Morgan Stanley is cutting 1,500 jobs. Expect more as banks cull before bonus season.

“Wall Street giant Morgan Stanley is cutting 1,500 jobs or roughly 2% of its workforce, in an efficiency drive to help combat economic uncertainty” writes Finanzen Net Gmbh for businessinsider.com. Morgan Stanley smashed expectations in its most recent earnings results, as sales and trading revenue rose 10%.Among US banks, Citibank announced job cuts in July, although on a much smaller scale.Elsewhere in Europe, Commerzbank announced cuts of roughly 4,300 jobs, Santander roughly 3,700 and HSBC a further 10,000.”Morgan Stanley is the first known instance of this, but other firms will…

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Explosion of U.S. tech jobs concentrated in just five metro areas, study finds

“For much of the past century, lower-income states and metro areas saw faster wage gains and bigger growth than higher-income ones” writes Reporter Covering National for washingtonpost.com. A third of innovation jobs are concentrated in just 16 counties, the report found, and half are compressed in 41 counties.The result is a growing concentration of high-paying jobs that accelerates wage growth and, by extension, socioeconomic disparities.The share of those jobs shrank dramatically in would-be hubs such as Chicago, Durham, N.C., Philadelphia, Dallas and Wichita, researchers found, with the bottom 90 percent…

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News Regulators 

EUR/USD caught in no man’s land to start the new week

“Looking back to Friday, the US jobs report was indubitably great but in the sense that it shows that the US economy remains more resilient” reports forexlive.com. Price action remains caught in between both key hourly moving averages – which suggests that the near-term bias is more neutral for now – and with the 100-day moving average @ 1.1066 also resting in between, it’s making for tepid trading to start the week.The dollar gained strongly after the US jobs report on Friday and that pushed the pair to test the…

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News 

Jobs of the future are clustering in a handful of U.S. cities, study finds

“Concerns that the United States is separating effectively into two economies has sparked support for localized efforts to spread the benefits of economic growth” writes Midwest Communications Inc for 95kqds.com. Divergence in job growth, incomes and future prospects between strong-performing cities and the rest of the country is an emerging focus of political debate and economic research.Combined, these mostly coastal cities captured an additional 6% of ‘innovation’ jobs – some 250,000 positions.Muro and Atkinson propose a concerted push involving federal research grants, tax breaks, and loosened regulations to encourage research…

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News 

Govt ‘not doing enough’ to transition workers away from coal industry

“Labor has “always” supported jobs in the coal industry, including the Adani project, according to Opposition frontbencher Matt Thistlethwaite” reports news.com.au. Mr Thistlethwaite told Sky News while Labor supports coal workers, it is also helping them transition away from the industry. “We have to accept that (coal) is a changing industry and there has been no support given by this government for people in this industry in the context of that change,” he said. “That’s why you have got record unemployment in areas like Townsville and other areas. “What has…

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Markets News Stocks 

Asian stocks pulled higher by Wall Street jobs rally but China caution prevails

“Analysts said Friday’s much better-than-expected jobs report offset mixed signals from recent economic data and validated the Federal Reserve’s wait-and-see stance on interest rates after three “insurance cuts” this year” writes Midwest Communications Inc for 95kqds.com. “This economy is still climbing and shattering the records for longevity,” said Chris Rupkey, chief financial economist at MUFG Union Bank.”Right now, the clouds of recession still remain well offshore despite troubled economies elsewhere in the world and a trade war.”. SYDNEY (Reuters) – Asian stocks edged up on Monday, catching some of Wall…

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Markets News 

Strong U.S. jobs data supports dollar as market looks to U.S.-China trade deal

“The Canadian dollar traded at C$1.3255 to the U.S. unit “ writes Midwest Communications Inc for 95kqds.com. TOKYO (Reuters) – The dollar held firm on Monday after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war.The dollar index stood almost flat at 97.704 in early Asian trade on Monday, after rising 0.3% on Friday.It had lifted to 108.92 yen on the U.S. jobs data before losing momentum.Those figures suggested the Trump administration’s…

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Markets News 

Invest in trade relationships to navigate an uncertain economy | Op-Ed

“More than 40% of jobs throughout Washington state are tied to international trade, and trade with China contributes to nearly 200,000 jobs and $7 billion in wages” writes Special To The for seattletimes.com. Additionally, changing global trade routes that benefit East Coast ports could mean fewer imports coming through our gateway as production shifts from China.Our state’s success as a great place to work and live stems from a shared determination to make our state globally competitive.A long trade war could mean more shipping time for western producers and fewer…

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News Stocks 

Strong jobs report is a disaster for doomsayers and Democrats

“The November jobs report showed that the U.S. economy remains strong, even as the rest of the world slows down” reports washingtonexaminer.com. Friday’s jobs report poses a serious problem for the prophets of doom, but it bodes well for Americans, rich and poor, of all political stripes.Friday’s November jobs numbers offered another example of why they cannot discuss the issue with any credibility — and also why their challenge to Trump is an uphill climb.Not only were an astounding 266,000 net jobs added to the economy last month — far…

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