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economy

For several years, Oxfam International has released an annual report on global wealth inequity. The numbers were startling: In the 2016 report, Oxfam said the world's richest 62 people owned as much wealth as the poorest 3.6 billion.

Britain's prime minister said Tuesday that the United Kingdom will walk away from the European Union's single market and unified court system, making a sharp break with its largest trading partner.

In a speech delivered about six months after voters passed a referendum requiring Britain to leave the EU, Prime Minister Theresa May laid out a plan for what that split would look like, emphasizing limits on migration into the country.

Amazon announced on Thursday that it’s adding 100,000 jobs nationwide by the middle of 2018.

It's a huge growth spurt for the Seattle-based company. The hiring will boost Amazon's U.S. workforce from 180,000 to 280,000 people in just 18 months time. The company had just 30,000 workers back in 2010.

One of the most stressful questions a new parent confronts is, "Who's going to take care of my baby when I go back to work?"

Figuring out the answer to that question is often not easy. When NPR, along with the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, surveyed more than 1,000 parents nationwide about their child care experiences, a third reported difficulty finding care.

Are Uber, Lyft and other internet-connected car services the missing link for transit agencies? In the Puget Sound region, we're about to find out.
Flickr photo/Jason Tester Guerrilla Futures (CC BY-ND 2.0) https://flic.kr/p/kAYh8Z

Uber and Lyft drivers will decide this spring on whether to form a union. This week, the city of Seattle finalized which drivers will get to voice their opinion.

Uber officials aren't happy.

The Great Recession ended 7 1/2 years ago, and job gains have been steady since, but greater demand for workers is only starting to increase pay.

The increases are still relatively modest, and the data are still mixed. In October, for example, the Labor Department reported average hourly earnings increased at a 2.8 percent rate — the highest since mid-2009, but wage growth slowed in November. A separate report this month showed the cost of labor — another measure of wage growth — increased especially during the spring of this year.

Patricia Murphy speaks with Seattle Times economics columnist John Talton about how President-elect Donald Trump's economic polices will affect the Puget Sound region. 

The widening gap between rich and poor Americans has pushed the chances of children earning more money than their parents down to around 50 percent, economic researchers say. That's a sharp fall from 1940, when 90 percent of kids were destined to move up the income ladder.

Unemployment dropped by 0.3 percentage points, to 4.6 percent, last month — the lowest rate since 2007 — according to the monthly jobs report from the Bureau of Labor Statistics.

Presidential candidate Donald Trump, pictured here 2013 Conservative Political Action Conference.
Flickr Photo/Gage Skidmore (CC BY SA 2.0)/https://flic.kr/p/e41ELr

Deb Wang speaks with Seattle Times economics columnist Jon Talton about the economic promises President-elect Trump made during the campaign and how local businesses like Boeing and Amazon might be affected by them.

President-elect Donald Trump has pledged a $1 trillion infrastructure spending program to help jump-start an economy that he said during the campaign was in terrible shape.

Speaking on Capitol Hill Thursday, Federal Reserve Board Chair Janet Yellen warned lawmakers that as they consider such spending, they should keep an eye on the national debt. Yellen also said that while the economy needed a big boost with fiscal stimulus after the financial crisis, that's not the case now.

Brian Wahlberg gives daughter Luciena a good view of the proceedings as the crowd sings at Cal Anderson Park in Seattle.
KUOW photo/Gil Aegerter

In the liberal bastion that is Seattle, the response to the election was acute. People cried openly on buses and in cafes. Some took time off work to mourn in bed. It wasn't that their candidate had lost, we heard again and again, it was that they feared for the future.

The Dow Jones Industrial Average closed up more than 1 percent Thursday at an all-time high of 18,807.88, as investors bet that the Donald Trump presidency will mean less regulation and more potential stimulus spending.

Updated 10:28 a.m. ET

On Tuesday night, as the presidential election's outcome headed toward an unexpected Trump victory, stock futures plunged. Investors had bet heavily Monday on Democrat Hillary Clinton. As Republican Donald Trump picked up many more votes than polls had predicted, markets reacted violently to the change in expectations.

The last time Zimbabwe went into economic freefall, in 2009, inflation was a mind-boggling 200 million percent. Shoppers had to carry the colorful bank notes, in billion- and trillion-dollar denominations, in bags to pay for basics.

To address the crisis, President Robert Mugabe's government abandoned Zimbabwe's own currency and adopted the U.S. dollar as legal tender. That helped end hyperinflation and helped stabilize Zimbabwe's economy.

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