Economic News Investigations

Brittany Grendler

Twitter Cuts 8% of its Workforce

Twitter recently hired a new CEO named Jack Dorsey. Jack Dorsey announced that his first major action was to cut 8% of twitters workers. That ends up being 336 people who are out of their job.

The article said that the email they sent the workers so they would know about the cuts subject line was "A more focused Twitter". Dorsey stated "This isn't easy, but it's right. The world needs a strong Twitter, and this is another step to get there."

I believe that this article relates to class because it is about big business. This shows how businesses have to to what is best for the company and often may not take into consideration the position they are putting their workers in. I'm not nessesairley saying that twitter doesn't care about their workers but there are definatley businesses out there like that. This had to do with Economics because it will cause some people to be unemployed potentially.

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China's New Growth Target Is...

China has set a new economic growth goal of 6.5% over the next five years. The have to reach this to be considered a "moderately prosperous society" by 2020. This is a lot different then when they were growing at 10% a year. It should be enough to keep unemployment from dipping too low. Economists believe that this could gravley effect the housing market. This is related to our class because we have discussed China in particular when talking about national economies.

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2008: Worse than the Great Depression?

Ben Bernanke, the former head of the Federal Reserve stated the the 2008 financial crisis was the worst in history, even worse than the Great Depression. The financial shocks were worse but the government responded a lot better to the Great Recession with different policies so the affect was not nearly as grave. It is stated that if the Feds would not have taken the action that they did then the crisis's affects would have been even worse than the great depression. It is weird to think that we could have been alive during a situation that could potentially of been that bad. This relates to class because we actually touched a little on this subject.

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Ebola Survivors are utilizing the Black Market

Ebola is a deadly disease that affects a lot of the poor countries in Africa. We all know about it because of the scare over here in North America. While in Africa the biggest outbreak killed at least 2,400 victims alone. Desperate victims are starting to turn to the Black Market to buy the blood of Ebola survivors. They believe that there are antibodies in the blood from the medicine. This has not been proven weather or not it works. This dangerous trade could cause the spread of other blood infections such as HIV and other blood-relaited ailments. This rates to class because we talked about black markets.
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Strong Hiring Drives Unemployment Rate to 5%

In October alone America gained 271,000 jobs alone. It recently came out that the unemployment came out that the unemployment rate fell to 5%. This is phenomenal thing compared to 2008's 10%. Before this information was released there was fear that economic slowdown would cause unemployment rates to raise. I think that this is a great thing because obviously it means that our economy is doing better than it was during the Great Recession. It makes me feel comfortable because I know that as of right now I won't be living in a time of economic struggles.

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