It’s time for the Indicators Of The Week! Joining us today are Soumaya Keynes from The Economist magazine and MIT economist Chris Knittel.
Keynes’s indicator is 15%, which is the Biden Administration’s proposed global corporation tax rate. The upcoming G7 meeting will cover this proposal. Multinational corporations are important to countries like Ireland and the Cayman Islands which already have low corporate tax rates, so they are watching the development closely.
Knittel’s indicator is $70, the latest price per barrel for crude oil. In comparison to the drastic price decline last year, this recovery is staggering. The shift to electric vehicle is gaining momentum, with examples like the new Ford F-150 pickup truck. But Knittel thinks oil is not going away in the near future.
Stacey’s indicator is the latest JOLTS number, or Job Openings And Labor Turnover Survey. Near 4 million people quit their jobs in April, a record high. Yet 9.3 million jobs are open as of now. What does this mean for the state of our job market? What about the Kardashian family?