The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise,.
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The U.S. Bureau of Labor Statistics on Tuesday released its report on job gains and losses in the state’s private sector between June and September of 2020.
According to the bureau, more than 29,000 positions were added during that time. But at the same time, 51,000 jobs were lost, for a net loss of nearly 22,000 positions.
That loss was caused by a continued decline in the leisure and hospitality industry, as well as in retail and trade, the BLS said.
However, there are some signs of recovery.
The BLS said overall nearly 23,000 jobs were restored at existing businesses, and another 6,000 positions were created in new establishments between last June and September.
How weak US jobs data could hurt emerging markets, but boost China’s exports
Weak US jobs data for April, which fell far below expectations, have sparked concerns among some economists that the US may pursue more radical stimulus measures that could pose risks for emerging markets as capital may flow into the US from struggling economies such as India.
However, the impact on China’s financial system would be limited as the country has the world’s largest foreign currency reserves and a healthy export system, analysts said, adding that the US stimulus measures, based on Modern Monetary Theory (MMT) that tends to directly spur consumption, could even be beneficial for China’s exports to the US.
How weak US jobs data could hurt emerging markets, but boost China s exports
Wang Bozun Published: May 09, 2021 08:23 PM
A delivery worker rolls packages across Wall Street in New York, United States, Jan. 8, 2021. (Photo by Michael Nagle/Xinhua)Weak US jobs data for April, which fell far below expectations, have sparked concerns among some economists that the US may pursue more radical stimulus measures that could pose risks for emerging markets as capital may flow into the US from struggling economies such as India.
However, the impact on China s financial system would be limited as the country has the world s largest foreign currency reserves and a healthy export system, analysts said, adding that the US stimulus measures, based on Modern Monetary Theory (MMT) that tends to directly spur consumption, could even be beneficial for China s exports to the US.
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