The rise in nonfarm payrolls for the month was 223,000, exceeding estimate of 200,000. The wage growth was lower than anticipated. The Fed’s main goal is to close the gap between supply and demand. However, the increase in employment was slightly less than the 256,000 increase in November, which was revised downward by 7,000 from … Read more
US consumer confidence reached its lowest level in more than a year due to rising food and fuel prices. Discretionary expenditure is anticipated to decline in the coming months. Consumers were more negative about present business conditions and the labour market, but more concerned about the prospects for the next six months. According to a … Read more
Net employment surged 60,600 in May from April when it edged up just 4,000. That far surpassed market forecasts of a 25,000 rise and brought gains for the year to 386,100. The jobless rate held at 3.9% in May, but only because the participation rate unexpectedly jumped to a record high. The Reserve Bank of … Read more
LONDON: Britain’s unemployment rate has fallen below four percent to reach its pre-pandemic level, official data showed Tuesday. The UK unemployment rate dropped to 3.9 percent in the three months to the end of January from 4.1 percent in the final quarter of last year, “returning to pre-coronavirus pandemic levels”, the Office for National Statistics … Read more
JOHANNESBURG: South Africa is the most unequal country in the world, with race playing a determining factor in a society where 10 per cent of the population owns more than 80 per cent of the wealth, a World Bank report said on Wednesday. “South Africa… is the most unequal country in the world, ranking first … Read more
LONDON: The Bank of England policymaker Michael Saunders, who voted for an interest rate hike last month, said on Friday he wanted more information about the impact of the new Omicron coronavirus variant before deciding how to vote this month, Reuters reported. Saunders said Omicron might slow Britain’s economy but it could also add to inflation pressures … Read more
