🚀 Unemployment spikes in Washington DC

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Unemployment claims in Washington, D.C., have surged as President Donald Trump’s administration, alongside an Elon Musk-led advisory board, moves to slash the federal workforce through layoffs and buyout programs. Nearly 4,000 workers in the city have filed for unemployment since Trump took office, with claims jumping 36% in a single week and more than quadrupling year-over-year. While the national labor market remains stable, D.C.’s jobless rate—already one of the highest in the country—could climb further as federal cuts deepen. However, workforce analysts suggest many displaced employees may find opportunities elsewhere, depending on their industry and skill set.

2. Chinese President Xi Jinping called on private entrepreneurs to “show their talents” and contribute to economic growth in a rare closed-door symposium, signaling renewed government support for the private sector. Amid a sluggish economy weighed down by weak consumption, a real estate downturn, and rising U.S. tariffs, Xi pledged to protect business rights, curb arbitrary government actions, and promote tech innovation. High-profile attendees, including Alibaba’s Jack Ma and Huawei’s Ren Zhengfei, suggest a shift in Beijing’s stance after years of regulatory crackdowns. Analysts say this could mark a turning point, boosting investor confidence and signaling potential policy easing.

3. India’s NTPC plans to invest $62 billion in expanding its nuclear power capacity to 30 GW over the next two decades, tripling its original target after the government opened the sector to private and foreign investment. The state-run power giant is securing land across eight states, despite historical resistance to such projects, and is exploring partnerships with global firms like France’s EDF and U.S.-based General Electric. With India aiming for 100 GW of nuclear power by 2047, proposed legal changes could pave the way for private participation, marking a significant shift in the country’s energy strategy.

4. Headlines

   1. Trump’s government cuts have reached the FDA, where employees responsible for food safety, medical devices, and tobacco products are being let go.

   2. Zelensky is calling for a “European Army” to fight against Russia.

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Onwards and Upwards,

Liam Gill