US job openings sink as economy slows, cost to borrow rises
The number of available jobs in the U.S. plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation. There were 10.1 million advertised jobs on the last day of August, down a huge 10% from 11.2 million openings in July. In March, job openings had hit a record of nearly 11.9 million. The sharp drop in job openings will be welcomed by the Federal Reserve. Fed officials have cited the high level of openings as a sign of strong labor demand that has compelled employers to steadily raise pay to attract and keep workers.
Treasury creates racial equity committee to narrow disparities
The Biden administration is deepening its effort to focus on reducing racial inequity with the formation of a new advisory committee that will help the Treasury Department carry out policies that aim to narrow economic disparities faced by communities of color. The Treasury Advisory Committee on Racial Equity will include 25 members from academia, business and advocacy groups. It will convene four times a year to evaluate and offer guidance to the Treasury Department and its leadership on an array of programs that touch nearly every corner of the economy. Biden administration officials say the focus on equity will help unlock economic potential that has for decades gone untapped.
White House unveils new measures to protect abortion access
President Joe Biden unveiled new measures Tuesday to protect access to abortion, 100 days after the Supreme Court ended the constitutional right to terminate a pregnancy, and called on Americans to pressure Congress to pass legislation that would ensure abortion is legal across the United States. The actions came as reproductive rights have become a central issue in political campaigns across the nation before next month’s midterm elections. Democrats have seized on the court’s decision to overturn Roe v. Wade to motivate voters to elect lawmakers who will expand abortion rights nationally and block Republicans from imposing further restrictions. Most abortions are now banned in at least 14 states.
Journalist who criticized Marcos is fatally shot in the Philippines
A news radio host who had been a prominent critic of President Ferdinand Marcos Jr. of the Philippines was fatally shot in his car during an ambush near his home, authorities said Tuesday. Percival Mabasa was killed Monday night outside the capital, Manila, by two men on motorcycles who later escaped, said Brig. Gen. Roderick Augustus Alba, a spokesperson for Philippine National Police. A search was underway Tuesday as authorities investigated the killing, Alba said. In recent weeks, Mabasa had criticized the Marcos government for what he said was corruption involving anomalies in sugar imports through a state agency.
Retreating Russians leave their comrades’ bodies behind
Russian troops abandoned a key Ukrainian city so rapidly that they left the bodies of their comrades in the streets. The scene offered more evidence Tuesday of Moscow’s latest military defeat as it struggles to hang on to four regions of Ukraine that it illegally annexed last week. Russia’s upper house of parliament rubber-stamped the annexations Tuesday after “referendums” that Ukraine and its Western allies dismissed as fraudulent. Responding to the move, Ukrainian President Volodymyr Zelenskyy formally ruled out talks with Russia. Meanwhile, the U.S. announced it would provide an additional $625 million in military aid to Ukraine, including more of the advanced rocket systems credited with helping Ukraine’s military momentum.
S. Korea missile crash during drill with US panics wary city
A South Korean ballistic missile has malfunctioned and crashed into the ground during a live-fire drill with the United States, panicking residents of a coastal city already uneasy over increasingly provocative weapons tests by North Korea. The sound of the blast and fire early Wednesday led many in Gangneung to believe it could be a North Korean attack, concern that only grew as officials provided no explanation about the explosion for hours. No injuries from the crash have been reported. The military said it was investigating what caused the “abnormal flight” of the short-range Hyumoo-2 ballistic missile, which is a key weapon in South Korea’s preemptive and retaliatory strike strategies.
Haiti at breaking point as economy tanks and violence soars
Haiti, the poorest country in the Western hemisphere, is in the grips of an inflationary vise that is squeezing its citizenry and exacerbating protests that have brought society to the breaking point. Violence is raging and making parents afraid to send their kids to school; fuel and clean water are scarce; and hospitals, banks and grocery stores are struggling to remain open. Daily life in Haiti began to spin out of control last month just hours after Prime Minister Ariel Henry said fuel subsidies would be eliminated, causing prices to double. Protesters vow to keep up the pressure until Henry resigns.
By wire sources