Bitcoin News Australia

Beyoncé fans argue that their favorite artist is the center of the universe and, well, it’s getting harder to disagree every day.

Case in point: Government agency Sweden Statistics released numbers this week showing Swedish inflation exceeding expectations.

You may think Beyoncé isn’t at the heart of this Swedish economic data; you would be very wrong.

Wait, Beyoncé really sent a whole-ass nation’s inflation numbers off target?

That’s what Danske Bank economists told the Financial Times, yes. Let’s explain:

• Last month, the singer kicked off her hotly anticipated world tour in Stockholm, playing two sold-out shows in front of 46k attendees each night.
• With ticket prices far more reasonable in Sweden compared to later tour dates — tickets that were running $2k+ in New York and Los Angeles were going for under $200 in Stockholm, per Vulture — hordes of international fans swooped in.
• Economists say the accompanying surge in hotel prices led to an estimated 0.2% rise in Sweden’s inflation rate.

The Riksbank, one of the final western central banks to fight inflation by raising interest rates, forecast a figure of 8.1% for May. Beyoncé’s, uh, halo effect helped the overall number land at 8.2%.

So, this means Beyoncé runs Sweden now?

Basically, yes — but technically, no. If only because there’s another Boss already.

Bruce Springsteen’s three-night run in Gothenburg later this month is worrying Swedish economic forecasters — Swedbank told FT the shows may similarly catapult the nation’s inflation numbers.

We recently explored astronomically priced, and themed, summer camps. Here’s a tip, teen readers: Get in on the action.

In April, the Department of Labor reported 5.7m unemployed job seekers and 10.1m job openings. The shortage is helping pump wages, especially for teens, whose median weekly summer pay rose 7% between 2019 and 2022, more than any other age group.

Shift happens

In May, 36.8% of US teens were working or seeking work, up from a pre-pandemic low of 32.5% in 2014, but far from the consistent 50%+ seen up until 2001.

Economists attribute the dip to priority shifts — e.g., schooling, unpaid internships, and extracurriculars, according to WSJ.

One place these trends are noticeable: Pools and beaches, where lifeguard shortages are leading to limited openings.

• Seattle’s lifeguard staffing levels are so dire, the city has raised the starting wage to $21+/hour.

BTW: Nebraska had America’s highest teen employment rate in summer 2022, at 65.9%. Hawaii had the lowest, at 23.7%, and we’re honestly not sure who deserves bragging rights.