ADVERTISEMENT

U.S. Payrolls, British Wages, Central Bank Paths Ahead: Eco Day

U.S. Payrolls, British Wages, Central Bank Paths Ahead: Eco Day

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The latest reading of the U.S. labor market due Friday comes at a time of more worker upheaval than the country has seen in decades
  • Bloomberg Economics sees the pace of U.S. job growth to likely be an improvement from the last two months of disappointment
  • Meanwhile, demand for staff in the U.K., driven by a lack of applicants for jobs, led to a record pay increase for workers starting new jobs in October
  • Bank of England Governor Andrew Bailey said it wasn’t his job to guide financial markets on interest rates, hitting back against criticism that he misled investors in the weeks leading to Thursday’s policy decision
  • Global central bankers are turning toward tighter monetary policy, yet still indicating they will take longer and follow different paths
  • The Fed has had a lot of trouble over the years deciding how hot to let the job market run before raising rates
  • President Joe Biden’s call for companies to enact Covid-19 vaccine or testing requirements is likely to exacerbate the labor shortage at some U.S. firms
  • Japan’s household spending rose for the first time in five months
  • The Reserve Bank of Australia sounded an optimistic note on the economy, while maintaining that faster wages growth and inflation will take some time
  • Indonesia’s economy decelerated in the third quarter as harsh lockdowns to contain a record spike in Covid-19 cases outweighed higher commodity prices and trade
  • Unprecedented trade surpluses and record inflows into its bond market are giving China a stockpile of dollars unseen since the days of the ‘Asian savings glut’
  • Finally, check out this week’s Stephanomics podcast: Should central banks try to save the world? Listen here

©2021 Bloomberg L.P.