Economics in the News – Jan. 6-12
Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news.
- The United Kingdom continued its course for a Jan. 31 exit of the European Union when the House of Commons approved a bill Thursday to authorize the country’s departure. The New York Times reports that lawmakers voted by a 330-221 margin to pass the Withdrawal Agreement Bill. The bill will next go through the Parliament’s House of Lords, which can delay but not overturn the result in the House of Commons.
- The Dow Jones Industrial Average briefly crossed the 29,000 threshold for the first time last week before pulling back slightly. The Wall Street Journal reports that the index posted an all-time high at 29,009.07 before closing the day at 28,823.77.
- Women now outnumber men in the workforce for the first time since the Great Recession, according to Markets Insider. The latest jobs report released Friday by the Department of Labor showed that women held 50.04% of jobs. The last time that women held the majority of jobs in the United States was a 10-month stretch from June 2009 to April 2010.
- Do you use a streaming platform like Netflix and share your password with others? If you do, you are not alone. According to USA Today, password sharing has been common among users with 42% of all consumers admitting to share a password. It’s costing companies like Netflix, Hulu and Disney billions of dollars in revenue.
- The deadly wildfires in Australia have been costly. According to the BBC, the blaze could cause Sydney as much as $50 million a day. Insurers have received claims worth $240 million since October.
- Do you use an app to help you stay on top of your finances? USA Today has three apps that could help users in assisting with their finances.