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That is the highest level since the end of 2021. Economists had only expected 245,000, following 242,000 in the previous week. “The impact of the 2022 and 2023 US rate hike cycle may finally have an impact on what has surprisingly been a tight labor market and also bolster the Fed’s plans to suspend further rate hikes,” Validus Risk Management’s Ryan Brandham said.

The most recent US initial claims are no longer far below the critical 270,000 mark. This is considered a tipping point that signals a deterioration in the labor market. Recently, the job creation on the job market had shown itself to be robust: in April, 253,000 new jobs outside of agriculture were added. However, job growth in March was not as strong as originally reported – the figure was revised down by the ministry to 165,000 from 236,000.

In addition to inflation, the development on the labor market also determines how the US Federal Reserve acts in terms of monetary policy. It has raised interest rates from near zero to a range of 5.00 to 5.25 percent since early 2022. It may now be heading for a pause in interest rates, especially as inflationary pressure has surprisingly eased somewhat recently.

Goods and services rose 4.9 percent in April following 5.0 percent in March. Many economists had expected an unchanged value. It is possible that the pressure in the inflation pipeline will continue to ease: Producers of food, energy and other goods did not raise their prices as much in April.

Producer prices only increased by an average of 2.3 percent compared to the same month last year, as the Ministry of Labor announced. Economists had expected an increase of 2.4 percent following the inflation rate was 2.7 percent in March. The prices apply from the factory gate – i.e. even before the products are further processed or traded. They are therefore regarded as an early signal for the development of consumer prices.

Vienna – European companies have recently felt the economic pressure: High inflation, lack of energy and macroeconomic problems have led to a significant increase in corporate insolvencies. In Western Europe (EU-14, Great Britain, Switzerland and Norway) there were 139,973 insolvencies in 2022 – 24.12 percent more than in 2021. And in Eastern Europe the number of insolvencies rose by 53.5 percent to 60,010 cases, according to a study of the credit reform.

The latter is increasingly critical of the Kremlin in the face of the latest routs of the Russian army and, more recently, the withdrawal of the army from the city of Bakhmout.

Sergei Jirnov, a former KGB spy, told La Dépêche du Midi in an interview that Prigozhin had gained the upper hand over Putin in public opinion. “The words spoken once morest the Minister of Defense Shoigu or the Chief of Staff of the Armed Forces Gerasimov for some time show that all symbols have been exceeded. Prigozhin is the interim president, Putin no longer exists. And if he is not killed before, Prigozhin will be president in 2024“, he confides to La Dépêche du Midi.

Before continuing: “To be a candidate, he must take Bakhmout and he hasn’t been able to do so for 8 months. He knows that he will be called to account and his excuse is the failure of the Russian army which would not provide the equipment. Prigozhin is at the front and creates his own propaganda lamenting the loss of his men“.

An imminent Ukrainian counter-offensive? The signals multiply

“Putin is an outdated man”

And this, to the detriment of Vladimir Putin who is increasingly weakened. To the point that he never did anything once morest Prigojine. Previously, those who criticized the Russian regime did not come out unscathed. But Vladimir Putin can’t do anything once morest Prigozhin, according to Sergei Jirnov: “How can he punish a man who has fifty thousand men in arms? He can no longer do anything in a war he himself has provoked. Putin is an outdated, crazy man who has delegated the right to legitimate violence to a private person”.

The former KGB spy also spoke regarding the future of the war. “Prigojine knows that if there is a counter-attack (note: from Ukraine), he will lose. But he will blame the defeat on the Russian army. And on Putin’s side, the conventional war cannot be won because Ukraine is now armed to the teeth. He has three options left: suicide, an end to the war, or the use of nuclear weapons. And the more Ukrainians earn, the more likely the last option seems”, he worries.

Pharmacy prices commonly mean disproportionately high prices. Florian Fritsch, owner of Welser Richter Pharma AG, is upset. “I won’t take the word anymore,” he said at the balance sheet press conference on Thursday. 70 percent of medicines sold in pharmacies cost less than the prescription fee (EUR 6.85) and the next price reduction is due in October.