#38 Daily Financial News Round Up - Dec 8,2021
What news caught my attention?
Cryptoexecutives defended the industry using the typically promised phrases that “the industry has a potential to improve people’s lives” and improve “financial inclusion” in front of Congress. Meanwhile, Congress is wrestling with the form of regulation they intend to put forth for this $2 trillion industry with zero consumer protection in place. The irony lies in the aversion of crypto executives for consumer protection regulation when they claim that this industry is good for consumers.
The job openings are at their record high while the high rate of people resigning continues. Unemployment filings are also at their lowest levels. The critical factors for resignations include higher wages in other positions, greater flexibility in working conditions and better benefits. Low-wage sectors are finding it hard to attract and retain their workers. Economists predict that the quit rate could rise even further in the coming months as labour imbalances persist.
My Takeaways:
While claiming that cryptocurrencies help consumers, crypto companies don’t want regulations intended to protect consumers.
Job openings are at a record high. Resignation rates are at a record high, while unemployment claims are at a record low. For a change in the past 20-30 years, it is a great time to be a worker with higher wages, greater flexibility and better working conditions.