July 7, 2023
United States:
US Adds Below-Forecast 209,000 Jobs as Labor Market Cools
US job gains moderated in June while wage growth remained firm, showing a strong enough labor market to keep the Federal Reserve on track to raise interest rates this month.
Nonfarm payrolls increased 209,000 — the smallest advance since the end of 2020 — after downward revisions in the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate fell to 3.6%.
Europe:
Russia Is Disregarding IAEA Advice to Power Down Ukraine Reactor
Russian operators at an occupied nuclear plant in southern Ukraine continue to ignore requests from safety regulators to bring the last partly-operational reactor under their supervision into a state of full shutdown.
Ukraine nuclear-safety officials have repeatedly called in recent days on operators at the Zaporizhzhia nuclear plant to stop producing heat and steam at the sole reactor that hasn’t entered so-called cold shutdown. Water supplies needed for cooling have become increasingly tenuous following the June destruction of a hydropower dam that held water in a neighboring reservoir.
Asia:
China Weighs More Local Bond Sales to Help Pay Risky Hidden Debt
Chinese authorities are weighing plans to support cash-strapped cities and counties by allowing additional local bond issuance to help pay down hidden debt in higher-risk areas, according to people familiar with the matter.
The proposals, which were submitted to senior leaders for discussion and are subject to change, could help address one of the biggest financial worries in the world’s second-largest economy: strains in debts at local-government financing vehicles. Provincial governments would be allowed to tap unused bond quotas and use the cash to help pay the hidden debts of local borrowers, the people said, asking not to be identified discussing private deliberations.
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