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U.S. job growth slowed in July and wages picked up moderately, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
The Labor Department’s closely watched monthly employment report on Friday came a day after President Donald Trump announced an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, a move that led financial markets to almost fully price in a rate cut in September.
The U.S. central bank on Wednesday cut its short-term interest rate for the first time since 2008. Fed Chairman Jerome Powell described the widely anticipated 25-basis-point monetary policy easing as insurance against downside risks to the 10-year old economic expansion, the longest in history, from trade tensions and slowing global growth.
Nonfarm payrolls increased by 164,000 jobs last month, the government said. The economy created 41,000 fewer jobs in May and June than previously reported. July’s job gains were in line with economists’ expectations. The average workweek fell to its lowest level in nearly two years. Before the release of the employment report, fed funds futures implied traders saw a 96% chance of the Fed cutting rates again next month, according to CME Group’s FedWatch tool.
The U.S.-China trade war is taking a toll on manufacturing, with production declining for two straight quarters. Business investment has also been hit, contracting in the second quarter for the first time in more than three years and contributing to holding back the economy to a 2.1% annualized growth rate. The economy grew at a 3.1% pace in the first quarter.
July payrolls marked a further deceleration in job growth from an average of 223,000 per month in 2018. Economists say it is unclear whether the loss of momentum in hiring was due to ebbing demand for labor or a shortage of qualified workers.
Still, the pace of job growth remains well above the roughly 100,000 needed per month to keep up with growth in the working-age population. The unemployment rate was unchanged at 3.7% in July.
Despite the lowest jobless rate in nearly 50 years, wage growth remains moderate, contributing to a tame inflation environment, which could be supportive of another rate cut next month. Inflation has undershot the Fed’s 2% target this year, rising 1.6% on a year-on-year basis in June after gaining 1.5% in May.
Average hourly earnings rose 8 cents, or 0.3% in July, after the same increase in June. That lifted the annual increase in wages to 3.2% in July from 3.1% in June. The trend in wage gains has slowed from late 2018 when wages were rising at their fastest rate in a decade.
Even with the step-down in job and wage gains, the labor market is supporting the economy as the stimulus from last year’s $1.5 trillion tax cut package fades. Economic growth in the third quarter is seen at around a 1.5% rate.
Construction payrolls increased by 4,000 jobs after shooting up by 18,000 jobs in June. Manufacturing employment rose by 16,000 jobs after increasing by 12,000 in June. The strong manufacturing job gains are at odds with weakening activity in the sector. A survey on Thursday showed manufacturing employment hit its lowest level since November 2016 in July.
The sector, which accounts for more than 12% of the U.S. economy, is being hobbled by trade tensions, weakening global growth, an inventory bulge – concentrated in the automotive industry – and design problems at aerospace giant Boeing Co . Factory workers put in fewer hours last month.
The manufacturing workweek dropped 0.3 hour to 40.4 hours, the lowest since November 2011. That contributed to the overall average workweek falling to 34.3 hours, the fewest since September 2017, from 34.4 hours in June. Government employment increased by 16,000 jobs in July, adding to June’s gain of 14,000. (VOA)
By Aishwarya Jain
Also, lowering down the crime level would act as a major factor towards a happy society. People who witness crimes, or come across evidence of a crime in their local area, can suffer anxiety and may feel demoralised or powerless. We should also teach them to stop judging people by materialistic things and accept everyone with all their flaws. Media plays an important role in making society happy because they have the power of reaching out to billions of people and helping them out through a solution-based approach.
As per Aishwarya Jain, the Founder of IM Happiness, a social community that works to increase awareness of mental well-being, "Every great leader always talks about building a happier society from Chanakya to J.R.D. Tata. As J.R.D Tata said, "I do not want India to be an economic superpower. I want India to be a happy country". Happiness makes good things happen. It actually promotes positive outcomes. It's high time corporates start taking importance of mental well-being like it's happening around the world. Last week, Nike became the latest company to close its offices for a week to give employees a mental health break. That's after LinkedIn, Bumble, and Hootsuite have all shut down their offices for a week this year to address mental health. I think the global revolution of happiness has started."
Our brains are literally hardwired to perform at their best not when they are negative or even neutral, but when they are positive. Yet in today's world, we ironically sacrifice happiness for success only to lower our brain's success rate . When we are happy -- when our mindset and mood are positive -- we are smarter, more motivated, and thus more successful. Happiness is the centre, and success revolves around it. IM Happiness is a community that believes happiness is a skill to be enhanced by training and practice. The team works day and night to help the sufferers get rid of their mental chaos and teach them the skill of being optimistic and happy in every situation, either favourable or adverse. They work on the aim of the United Nations Goals of promoting good health and well-being and have worked closely with the organisation. The team is utilizing the power of Science and Spirituality in achieving this aim.
IM Happiness is initiating a new campaign, 'Hello Happiness'. | Photo by Dylan Sauerwein on Unsplash
IM Happiness is initiating a new campaign, 'Hello Happiness'. The campaign unites 30+ celebrities from across the country to have a surprise conversation with selected people in India. Ranveer Brar, Daniel Weber, Masoom Minawala Mehta and Ash King are some of the celebrities who will be a part of this campaign. With this campaign, the community wants to help people deal with their emotions and to motivate them. The campaign is free of cost and the nominee just has to register, wherein the unique algorithm will connect the nominee with a celebrity or other mentors on a call according to their keywords.
The community is trying to bring a change but it is the society's accumulative effort to spread awareness and to make oneself happy. We should try to start small and it will eventually make a great difference because a better society allows us to lead a better life.
(Article originally published on IANS by N. Lothungbeni Humtsoe) (IANS/ MBI)
Keyowrds: Happiness, society, IM happiness, campaign, India, community
By- Jake Melnik
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In the era of computers and smartphones, it is hard to imagine a task that hasnt been made easier by some sort of technology. You all may know how harmful the blue light emitted by computers, smartphones, tablets, televisions, and other electronics is for your eyes. Since the inception of the pandemic, the use of these electronic devices has increased, and we all know it can have multiple undesirable effects on the eye.
Dark circles are formed mostly due to the reflection of the dark maroon underlying orbicularis oculi, a circular muscle around our eye. The dark pigmentation gives you an exhausted look which makes you seem sick or sleep-deprived. The skin around the eye is the thinnest, results in reflection of the said dark maroon underlying orbicularis oculi. The artificial light from the screen of your electronic devices causes a lot of drying, as it steals the moisture from the skin and also causes a breakdown of collagen
Reduce overhead lighting to minimize screen glare. | Photo by Quinten de Graaf on Unsplash
How can you deal with the undesirable effects?
*Follow a proper skincare regimen, use a moisturiser rich in vitamins especially C,E, and K. Massage it gently in clockwise and anticlockwise gentle circular movements.
*Apply under-eye cream 40 minutes before going to bed.
*Green tea bags can also help to shrink the blood vessels that will lessen dark circles.
*Catching up on sleep can help reduce the appearance of dark circles.
*Take frequent breaks while using digital devices.
*Reduce overhead lighting to minimize screen glare.
*Keep your eyes an arm's distance away from the screen.
Vivek Singh, CEO and Co-founder of Anveya Living says, "People spend a large portion of the day straining their eyes on computers, phones or tablets. Our eye muscles try to focus and refocus on and off screens which causes strain. There are a few solutions to this problem. Dehydration plays a big role, especially in the area around the eyes. Make sure you pick an eye cream that suits your eye concerns. For example, Anveya has an under eye cream with Vitamin C that helps to reduce puffiness, wrinkles and pigmentation. It basically provides intense hydration, nourishes and protects the thin skin around the eyes".
Apply under-eye cream 40 minutes before going to bed. | Photo by Humphrey Muleba on Unsplash
Commenting on the same, Shilpa Rathi Maheshwari, Founder of I AM LOVE, a Nutraceutical Health and Skincare Brand, said, "Screen time is the latest plague that has been going around and everyone has fallen victim to it; the young and the old. Too much eye strain affects the skin around the eyes, it causes them to age at an accelerated rate. While curbing screen time is one solution, it can't be a solution for people whose livelihood depends on it. Well, you don't have to worry when you have enough protein and collagen in your body. You might need to supplement your body with an increased amount of collagen and protein to negate the damage being done."
(Article originally written by: N. Lothungbeni Humtsoe) (IANS/ MBI)
Keywords: under-eye, skin, treatment, eye-cream, dark circles, sleep, routine, self-care