Biden Will Need to Wait Longer for a U.S. Jobs Rebound: Eco Week
Bloomberg 2/28/2021 Olivia Rockeman
(Bloomberg) The first full month of Joe Biden’s presidency of the U.S. looks likely to have featured limited progress for the labor market as the coronavirus kept a lid on growth.
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Economists surveyed before data on Friday anticipate an increase in the unemployment rate to 6.4%, with a tally of about 180,000 new jobs. Private payrolls will be watched closely after pandemic-related restrictions eased in many states in recent weeks, likely allowing for increased hiring at service businesses like restaurants.
Australia Central Bank Girds for All-Out Defense of Yield Target msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama.
“This is a really big, complicated, brand new proposal.
Japan’s Factory Output Shows Resilience Despite Emergency
Bloomberg 2/26/2021 Toru Fujioka and Yoshiaki Nohara
(Bloomberg) Japanese factories increased output in January for the first time in three months, signaling the country’s economic recovery is continuing despite a renewed state of emergency to contain the coronavirus.
Industrial output rose 4.2% from the previous month, with production of memory chips and semiconductor equipment climbing, the trade ministry reported Friday. Economists had projected a 3.8% overall gain amid rising exports, especially to China.
Separate figures showed retail sales fell at less than half the predicted pace in January compared with the prior month. Declines eased in Tokyo consumer prices, a bellwether for national inflation.