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Magna (TSX: MG; NYSE: MGA)* said this week that it is increasing its presence in China with a new facility in the Jiujiang Economic Development Zone, Wuhu to support the growing demand of electric drive systems—starting with Chery but ultimately capable of supplying additional automakers in the future.
“This expansion reflects Magna’s commitment to supporting our customers’ electrification strategies and advancing sustainable mobility,” said Diba Ilunga, President Magna Powertrain. “Wuhu offers a strong industrial foundation and an environment conducive to innovation. We are excited to bring our world-class electric drive technologies closer to Chery and other partners in China.” Continue reading
September 2025 Unemployed People and Rate Up Under Trump
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Both the unemployment rate, at 4.4%, and the number of unemployed people, at 7.6 million, changed little in September, the U.S. Bureau of Labor Statistics posted yesterday. These measures are higher than a year earlier under Trump 2.0, when the jobless rate was 4.1%, and the number of unemployed people was 6.9 million. Job losses occurred in transportation and warehousing and in federal government. (Read AutoInformed.com on: Trump Economics – Growth Slowing, Unemployment Rising)
Among the major worker groups, the unemployment rates for adult women (4.2%) and Asians (4.4%) increased in September. The jobless rates for adult men (4.0%), teenagers (13.2 %), Whites (3.8%), Blacks (7.5%), and Hispanics (5.5%) were stagnant with little or no change over the month. Continue reading →