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Payrolls and wages blow past expectations and flying in the face of Fed rate hikes

Job growth was much better than expected in November despite the Federal Reserve’s aggressive efforts to slow the labor market and tackle inflation. Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for an increase of 200,000 on …

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Communication lines zapped on Gabriola Island following Tuesday snow storm | NanaimoNewsNOW

According to BC Hydro, power is unaffected on the Island by the issues, despite the communications line using a shared pole on Gabriola with other infrastructure. Gabriola Volunteer Fire Department have told residents if they’re unable to connect to 911, they should try and contact the department directly at 250-247-9677, or visit their hall on …

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Key inflation measures that the Fed follows rose 0.2% in October, less than expected

Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday. The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5% …

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Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON – Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements from other central bank officials and comments at the November Fed meeting, Powell said he sees the central bank in position to …

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Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports

Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP. Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October and well below the Dow Jones …

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VIDEO: ‘It’s just not sustainable, they’re exhausted:’ nurses rally at Nanaimo hospital for more resources | NanaimoNewsNOW

During a one-on-one interview with NanaimoNewsNOWCharters said the emergency room in Nanaimo is operating without a full contingent of nurses most days. She said it’s getting to the point where workers can’t cope. “Nurses are leaving the profession in droves. The pandemic didn’t help, our opioid crisis didn’t help, the demands being put on them …

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Call for action to ease Ontario health-care crisis

Leaders from five of Ontario’s largest health care unions are issuing an urgent appeal to the Doug Ford government, citing years of inaction and a lack of investment as factors in the province’s current hospital crisis. Speaking at Queen’s Park on Thursday, the unions said the current government’s plan is “failing miserably.” They also said …

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Webb telescope captures first look at an exoplanet’s atmospheric breakdown

(CNN) — The James Webb Space Telescope has captured a detailed molecular and chemical portrait of a faraway planet’s skies, scoring another first for the exoplanet science community. WASP-39b, otherwise known as Bocaprins, can be found orbiting a star some 700 light-years away. It is an exoplanet — a planet outside our solar system — …

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Kim Jong Un’s sister makes insulting threats to South Korea over sanctions

Hyung-Jin Kim, The Associated Press Published Wednesday, November 23, 2022 7:58PM EST Last Updated Wednesday, November 23, 2022 10:29PM EST SEOUL, South Korea (AP) – The powerful sister of North Korean leader Kim Jong Un made insult-laden threats against South Korea on Thursday for considering unilateral sanctions on the North, calling the South’s new president …

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