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by Chris Stein WASHINGTON, United States (AFP) — The key US government jobs report Friday is expected to show American businesses added hundreds of thousands of jobs last month as vaccines helped the economy return to normal — but with Covid-19 still keeping some people away from the workplace, strong rehiring is no sure thing. Economists expect the Labor Department data will show the world’s largest economy added 720,000 jobs and the unemployment rate ticked […]
HONG KONG, China (AFP) — Most Asian markets rose Thursday, with focus on the upcoming release of key US jobs data, while traders were also trying to gauge when the Federal Reserve will begin reconsidering its ultra-loose monetary policies in light of a robust economic recovery. Oil prices also extended gains, fuelled by growing optimism that the reopenings and coronavirus vaccine rollouts will lead to a surge in activity over the coming months and ramp […]
HONG KONG, China (AFP) — Asian investors on Monday struggled to build on last week’s gains as profit-takers stepped in while awaiting the next buying catalyst, with eyes on the upcoming release of key US jobs data. Still, despite worries that the expected surge in economic activity this year will send prices soaring and force central banks to tighten monetary policy, a forecast-beating jump in a closely watched US inflation gauge was taken in stride. […]
HONG KONG, China (AFP) — Asian markets rose again Friday, putting them on course to end an upbeat week on a healthy note, with traders welcoming another forecast-beating reading on US jobless claims that reinforced optimism about the recovery in the world’s top economy. There was also some cheer from reports that Joe Biden is planning a $6 trillion budget proposal for later in the day that includes his vast infrastructure deal and spending on […]
WASHINGTON, United States (AFP) — States across America are moving to cut pandemic unemployment benefits, a painful blow for millions of people who will soon be left without income. With punishing jobless levels during the Covid-19 pandemic, unemployment benefits had been extended — especially to the self-employed — and extended further until September 6, even for those who had reached the maximum duration. But now 21 out of 27 states governed by Republicans — including […]
LONDON, United Kingdom (AFP) — British unemployment dipped to 4.8 percent in the first quarter, official data showed Tuesday, helped by the UK government’s jobs furlough scheme keeping millions in work during the pandemic. That compared with 4.9 percent in the three months to the end of February, the Office for National Statistics (ONS) said in a statement. Britain’s government is paying the bulk of wages for millions of private-sector workers during the coronavirus pandemic, […]
BANGKOK, Thailand (AFP) — Thailand’s economy shrank in the first quarter, official data showed Monday, as it was battered by coronavirus restrictions that have hit the key tourism sector hard. The kingdom last year suffered its worst full-year performance since the Asian financial crisis of 1997 with a 6.1 percent contraction. The Office of the National Economic and Social Development Council (NESDC) said gross domestic product shrank 2.6 percent on-year in the first three months. […]
HONG KONG, China (AFP) — Asian markets were mixed Monday as optimism about the global recovery was offset by concerns about a spike in new infections in several countries that have officials battling to avert new lockdowns. Wall Street provided another strong lead after data showed US retail sales were flat last month, which helped ease traders’ fears that a surge in inflation could force the Federal Reserve to wind back its ultra-loose monetary policies […]
HONG KONG, China (AFP) — Fears about surging inflation continued to trouble Asian markets Wednesday, with investors nervously awaiting crucial US price data later in the day that could ramp up expectations the Federal Reserve will have to taper its monetary policy earlier than flagged. Global equities have had a torrid start to the week as traders bet that stimulus measures, the rollout of vaccines and the reopening of businesses will fan a blockbuster recovery […]
LONDON, United Kingdom (AFP) — Britain’s economy contracted by 1.5 percent in the first quarter as the country suffered a fresh coronavirus lockdown, official data showed on Wednesday. The UK however is currently exiting lockdown at a gradual pace, allowing the economy to recover from pandemic fallout. “As we cautiously reopen the economy, I will continue to take all the steps necessary to support our recovery,” finance minister Rishi Sunak said in reaction to the […]
WASHINGTON, United States (AFP) — Americans filed 92,000 fewer applications for unemployment aid last week, the government reported Thursday, in the latest sign the widespread job losses caused by the Covid-19 pandemic was ebbing as businesses reopen. The Labor Department data showed there were 498,000 initial claims for jobless benefits made in the week ended May 1, seasonally adjusted, far fewer than expected and a new low since the pandemic began in March 2020 and […]
JAKARTA, Indonesia (AFP) — Indonesia’s economy shrank for the fourth consecutive quarter in January-March, data showed Wednesday, as the country’s leaders struggle to overcome a recession wrought by the coronavirus pandemic. The 0.74 percent on-year contraction was a big improvement on the 2.19 percent in the previous three months but slightly worse than expected, with the tourism sector among the worst-affected industries. However, statistics bureau Suhariyanto told reporters: “It is still negative, but it […]
