Microeconomics Current Events News (Essay Sample)

Microeconomics Current Events News Student’s Name Institution Affiliation Instructor’s Name Course Details Due Date Microeconomics Current Events News First Current Event News: USA Unemployment Benefits The number of Americans filing new unemployment claims decreased more than predicted in February 2022, signaling that the employment market resurgence is gaining momentum. The weekly unemployment claims figures released on Thursday revealed unemployed rolls dropping to levels not seen since 1970, highlighting strengthening labor market conditions (Mutikani,2022). Despite a relatively close number of job vacancies, there is a severe labor shortage, which keeps layoffs to a minimum. For the week ending Feb. 19, the number of the country’s unemployment benefits plummeted by 17,000 to 232,000(Mutikani,2022). This nearly erased the preceding week's rise, which analysts attributed to 5-day buoyancy in the statistics and the slowed-down effect of early-month winter weather. Numerous Fed Officials believe market conditions have either reached or are approaching full employment. The US central bank is expected to raise the rate of interest in March in order to curb inflation, which is expected to reach up to 7% this year (Mutikani,2022). The positive job market news was overshadowed by Russia's incursion of Ukraine, which economists said might harm the US economy by driving inflation higher and stifling consumer spending. However, it is expected the number of new unemployment applications will continue to plummet. Second Current Event News: Russian Central Bank Raises Limits on Banks On Thursday, 25th February 2022, the Russian central bank said it would extend the limit on banks' outstanding loans at repurchase agreements operations to $50 billion from $15 billion as part of a series of financial stability interventions (Staff,2022). The central bank increased liquidity in the banking sector. It began selling foreign currency on the currency market on Thursday after the state resources an...