As the weekend approaches, it’s always a good idea to stay on top of the latest news in the business world. The 680 News Weekend Business Report has made this task easier for many by providing market updates and trends that impact various industries.
One of the most significant stories this week was the report on the US job market. The Labor Department announced that employers had added 943,000 jobs in July, exceeding the expectations of economists. This increase in job growth has been attributed to the rise in vaccination rates and the end of pandemic-related restrictions, signaling a return to pre-pandemic levels of employment.
Another important piece of news is related to the ongoing chip shortage affecting the tech industry. Qualcomm, the largest designer of smartphone chips, reported that it expects the shortage to persist well into 2022, causing disruptions in the production of smartphones and other electronic devices. This trend has also led to an increase in the prices of the affected products, causing concerns for consumers and businesses alike.
The report also highlighted an unexpected decline in Canadian exports, dropping by 1.7% in June as compared to the previous month. This decrease has been attributed to the disruptions caused by wildfires and heatwaves, impacting supply chains and production in various parts of Canada.
Looking at the energy sector, the price of oil has been a hot topic of discussion, with Brent crude oil reaching a six-week high of $71.75 per barrel. However, the recent increase in Covid-19 cases and concerns about new restrictions have caused uncertainty in the market, leading to a slight decrease in oil prices.
In summary, keeping up with the latest business news and market trends is crucial for staying informed in today’s fast-paced world. The 680 News Weekend Business Report provides an excellent platform for professionals and enthusiasts to stay on top of the latest developments, from job market statuses to technological supply chain hiccups and oil prices.
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