Americans work an average of 1,767 hours per year, ranking among the highest in the developed world.
This average includes regular hours and paid overtime, placing the United States near the top of the OECD rankings compared to most other developed nations. Countries like France, Germany, and the United Kingdom typically average around 1,400 hours annually, reflecting different labor regulations and cultural attitudes toward work.
Finding the right balance between productivity and quality of life remains a critical challenge for policymakers.
Market Wrap
Budget Blueprint and Qatar Deal Boost Sentiment
House Advances Sweeping Budget Package: On May 14, the House pushed forward President Trump’s budget blueprint, which includes large tax cuts for higher earners, $18 billion in NIH cuts, $3.6 billion from the CDC, stricter SNAP work requirements, and Medicaid spending reductions. Investors noted that these fiscal changes could reshape healthcare-sector profitability and overall consumer spending.
Interview with Chicago Fed President Austan Goolsbee on Data Uncertainty (May 14, 2025): In an NPR “Morning Edition” interview, Goolsbee emphasized that April’s modest 2.3% annual inflation rise remains “noisy,” warning that volatile food prices and the lagged effects of U.S. import tariffs complicate interpretation and reinforce the Fed’s wait-and-see approach to future rate moves.
OPEC Non-OPEC+ Supply Forecast Cut (May 14, 2025): In its May report, OPEC trimmed its 2025 supply growth forecast for non-OPEC+ producers to 800,000 barrels per day—down from 900,000—citing lower exploration spending, a move that helped stabilize oil prices and buoy energy stocks.
Historic US–Qatar Economic Deals: The White House announced that agreements signed on May 14 will generate about $1.2 trillion in “economic exchange” with Qatar, spanning aerospace, defense, and energy investments—news that lifted sentiment in related export-oriented sectors.
Nvidia Corp. shares gained more than 4% on Wednesday, buoyed by reports that the US was weighing a deal to allow the UAE to import over a million advanced Nvidia AI chips, potentially opening a large new market.
Advanced Micro Devices Inc. shares rose after the company unveiled a $6 billion share repurchase program, signaling confidence in its strategic direction and cash flow generation.
Super Micro Computer Inc. shares surged 16% on Wednesday after announcing a $20 billion deal with Saudi firm DataVolt to fast-track delivery of ultra-dense GPU platforms and rack systems.
American Eagle Outfitters Inc. shares plunged after the apparel retailer withdrew its 2025 financial guidance and took a $75 million inventory write-down amid macroeconomic uncertainty.
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