Getty ImagesThe gap between open jobs and unemployed workers is about as wide as the one between the kinds of positions open and the qualifications that the workforce collectively has to fill them. That has come as the Labor Department reports that there are still about 670,000 more job vacancies than there are unemployed potential workers. “The labor market just gets tighter,” said Becky Frankiewicz, president of Manpower Group North America. The skills gap issue is most talked about in the U.S

The refinance boom took a step back last week, bringing down total mortgage applications. Refinance demand had been driving the volume of mortgage applications up, but refinance applications decreased 8% for the week, according to the MBA’s seasonally adjusted tally. Mortgage rates began falling more than a month ago as fears of the coronavirus hit financial markets. Mortgage rates loosely follow the yield of the 10-year Treasury. “And while lower mortgage rates have improved housing affordabili

Businesses need more cashflow, costs support from Singapore budget: ASME presidentAlthough Singapore’s budget 2020 was largely “comprehensive,” businesses were hoping for “more substantial” support measures from the government to tide over the coronavirus crisis, says Kurt Wee, president of the Association of Small and Medium Enterprises.

Doctors in medical masks and protective suits at the Munsu-dong diplomatic compound in North Korea amid the COVID-19 outbreak. There are no indications that there are cases of the new coronavirus in North Korea, a World Health Organization (WHO) official said, despite South Korean media reports suggesting the outbreak had spread to the isolated country. Some South Korean media outlets have reported multiple cases and possible deaths from the virus in North Korea, but there has been no independen

Longer term, this could make online tutoring more acceptable to once hesitant parents and potentially contribute longer term to online tutoring penetration in China, in our view. “Obviously, almost all online schools would see a rise of enrollment during the outbreak, although there is no public data available yet,” Lü Tao said, according to a CNBC translation of her Mandarin-language remarks. After-school tutoring company TAL Education, which operates online and offline courses, claims more tha

Malaysia has so far managed to contain the spread of the new coronavirus, with limited local transmissions, the country’s health minister told CNBC on Wednesday. Malaysia has reported 22 cases of the new coronavirus as of Tuesday — the third-highest number in Southeast Asia behind Singapore and Thailand, according to data compiled by Johns Hopkins University. “I think it’s very contained right now and there’s … no cause for panic at all, but we cannot be complacent about this and we’ll continu

European stocks opened higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data. The pan-European Stoxx 600 climbed 0.5% at the start of the trading session, with basic resources adding 1.2% to lead gains as all sectors except utilities entered positive territory. China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died. Asian stocks recov

China’s economic growth in the first quarter could fall to as low as 3.5% if the spread of the new coronavirus is not contained fast enough for manufacturing production to resume to normal levels, Morgan Stanley analysts wrote in a Wednesday report. Manufacturing activities around China have been disrupted as authorities shut down cities in a bid to contain the virus, now called COVID-19. While factories have started to come online, checks by Morgan Stanley analysts found that production had onl

China’s government is “confident” of handling the coronavirus crisis in a way that will not damage the leadership, historian Wang Gungwu said on Wednesday. Known for his expertise in Chinese history and civilization, Wang acknowledged that there is disappointment and dissatisfaction among some in China about how Beijing is handling the COVID-19 crisis, but that would not likely seriously hurt the leadership. President Xi Jinping also “acted the way (that is) to be expected” as the news makes its

It’s “fair” to say that countries such as Oman and Bahrain are vulnerable to a potential rating downgrade if the coronavirus outbreak lasts longer than expected, according to the chair of sovereign ratings at a credit rating firm. That’s because the two countries have high fiscal breakeven oil prices, Frank Gill of S&P Global Ratings told CNBC’s “Capital Connection” on Tuesday. Oil prices have been under pressure due to concerns about the economic impact of the coronavirus, with both Brent and U

U.S. government debt prices were lower Wednesday morning, as investors awaited a fresh batch of economic data. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.5695%, while the yield on the 30-year Treasury bond was also higher at around 2.0125%. The Treasury curve remained inverted on Wednesday, with yields on three-month bills trading above yields on 10-year notes for the second consecutive session. On Wednesday, China’s National Health Commission

U.S. stock index futures were slightly higher Wednesday morning. ET, Dow futures rose 81 points, indicating a positive open of more than 74 points. Futures on the S&P and Nasdaq were both marginally higher. China’s National Health Commission on Wednesday reported an additional 1,749 cases of the coronavirus nationwide, with 136 deaths. Last month, the World Health Organization (WHO) declared the outbreak a global health emergency.

Last year, China’s growth dropped to its slowest pace in nearly three decades. The Chinese government could face an “economic crisis” if the outbreak doesn’t abate, The Economist Intelligence Unit (EIU) wrote in a note last Friday, before the Xi speech was published. Public frustration could “escalate dangerously” if the outbreak proves to be uncontrollable by the end of March, EIU wrote. “Besides a health crisis, the authorities could face an economic crisis, with implications for incomes and j

Asia markets were set to be subdued on Wednesday, as investors will be closely monitoring China’s progress in returning to work as the country deals with the coronavirus outbreak. Futures pointed to a subdued open for Japan’s Nikkei 225, after it fell more than 1% on Tuesday. Apple closed 1.8% lower, with the news sparking a selloff in stocks of its Asia suppliers the day before. Moody’s Investors Service yesterday lowered the growth forecast for China from 5.8% to 5.2% for 2020. The Southeast A

You can also typically call your bank or credit card company and ask to defer your payment. Put it on a credit cardWith credit card interest rates sitting at about 17%, racking up a balance can get expensive quickly. While not everyone has access to a credit card, banks have done a pretty good job of increasing the availability. Nearly 1 in 4 payday loans are reborrowed nine times or more, research conducted by the Consumer Financial Protection Bureau found. But Aponte-Diaz say that payday loans

Apple’s coronavirus warning drives interest rates down, hurting the banks: Jim Cramer”The banks do better in a rising interest rate environment, not a lower one,” the “Mad Money” host says, explaining why bank stocks dropped during the session.

Here’s what five experts say investors should watch regarding Apple’s expectations of a financial hit because of the coronavirus outbreak in China. Jim Cramer, host of CNBC’s “Mad Money,” says long-term believers of Apple’s bull case should buy in here. Mike Volpi, general partner at Index Ventures, says a stock reaction is to be expected as Apple gets squeezed on the supply and demand side. Gene Munster, founder of Loup Ventures, says this stock reaction is less than other warnings in the past.

As the number of confirmed coronavirus cases and deaths around the world continues to rise, small business owners that import from China are on edge. Kyle Kirshner has been doing business in China for several years, and knew to stock up on supplies ahead of the Lunar New Year. The owner of Kyndley sells outdoor products online via Amazon and imports 90% of his goods from China. The owner of the Anderson Group works with distributors who import the products she sells on Amazon from China. The cor

Democratic presidential candidate Mike Bloomberg gives the thumbs up as he embarks on his bus after speaking to supporters at the Viva Villa restaurant in San Antonio, Texas on January 11, 2020. Mike Bloomberg would sell the financial data and media company he created in the 1980s — which bears his name and made him a multibillionaire — if he is elected U.S. president, a top adviser said Tuesday. Bloomberg would put Bloomberg LP into a blind trust, and the trustee would then sell the company, ad

Traders work on the floor at the New York Stock Exchange. The major averages were under pressure for most of Tuesday’s session after a stark warning from Apple. That warning initially sent the broader market lower, but the major averages regained some of their losses in afternoon trading. Bottom line, market volatility could be on the rise is more companies issue warnings like Apple’s. The latest reading on the producer price index and housing starts data are set for release on Wednesday.