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WEATHER ALERT

4 advisories in effect for 3 regions in the area

ECONOMISTS


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Asian stocks surge after oil falls, easing inflation fears

Read full article: Asian stocks surge after oil falls, easing inflation fears

Tokyoโ€™s stock benchmark soared 4% and other Asian markets have surged after oil prices dropped, easing fears inflation was set to accelerate.

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US jobless claims rise to 286,000, highest since October

Read full article: US jobless claims rise to 286,000, highest since October

The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market.

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UK raises interest rates as central banks focus on inflation

Read full article: UK raises interest rates as central banks focus on inflation

The United Kingdomโ€™s central bank has become the first in a major advanced economy to raise interest rates since the coronavirus pandemic began.

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U-M economists: 5 things to watch (and watch out for) in President Bidenโ€™s first year

Read full article: U-M economists: 5 things to watch (and watch out for) in President Bidenโ€™s first year

President Joe Biden signs his first executive orders in the Oval Office of the White House on Wednesday, Jan. 20, 2021, in Washington. Researchers at University of Michiganโ€™s Research Seminar in Quantitative Economics are seeing some signs for optimism as they make forecasts looking ahead. โ€œWith the ongoing vaccine roll-out, the end of the pandemic is in sight, letting us focus on how the post-pandemic economy might look like.โ€Below are the U-M expertsโ€™ โ€œfive things to watchโ€ and โ€œfive things to watch out forโ€ in the countryโ€™s economy this year. Five things to watch for:Getting the vaccines out quickly is the most important economic/social task. Five things to watch out for:

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Michigans tax revenues this fiscal year will plummet severely, economists predict

Read full article: Michigans tax revenues this fiscal year will plummet severely, economists predict

LANSING, Mich. Economists project Michigans tax revenues this fiscal year will plummet between $3.1 billion and $3.6 billion below prior estimates due to the coronavirus pandemic. The numbers were released Thursday before a Friday meeting at which legislative experts and Gov. Gretchen Whitmers administration will try to get a handle on the budget outlook two months after the crisis hit the state. One-third of the workforce has filed for unemployment benefits at a time schools and businesses are closed and travel is restricted to curb the spread of COVID-19. The number of confirmed cases of the coronavirus (COVID-19) in Michigan has risen to 50,079 as of Saturday morning, including 4,825 deaths, state officials report.

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