Created by: Sam Tenney
- The third largest real estate developer in China, Kaisa, has missed a payment on its 2022 bonds, which are currently trading at around 50% of par. The firm has listed $13 Billion worth of Shenzhen city real estate in a “fire sale”, citing immediate liquidity needs.
- Job hiring’s for non-traditional work hours, the “night shift” hours of 12am – 8am, have increased 1400% since the start of the year according to data from popular online job sites. These positions now make up 15% of all available hiring. This is likely due to many companies, notably major retailers like Walmart, increasing hours of operation to meet the ongoing surge in demand from consumers.
- Hourly wage earnings for US workers are up 4.9% year over year as of October, according to JP Morgan, a significant increase in wages given low wage growth for the preceding decade. This has been largely driven by hiring in the hospitality and leisure sectors.
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