October 29, 2024
United States:
Storms and Strike Will Complicate Last Jobs Report Before Fed Meeting, Election
Friday’s employment report is the last the Federal Reserve will see before its policy meeting next week. But the data will be tough to parse.
Flooding and power disruptions from Hurricanes Helene and Milton that crippled many business operations risk a hit to the October employment count. In addition, 44,000 workers, a majority at Boeing Co., were on strike as of Oct. 12 — a date that marks the survey week for the report — the Bureau of Labor Statistics said last week.
Europe:
Two Euro-Zone Bellwether Economies Expanded Last Quarter
Ireland’s economy rebound in the third quarter while Belgium kept expanding, positive omens for euro-zone data due this week.
Irish gross domestic product rose 2% in the three months through September, after a contraction of 1% in the prior period, the statistics agency in Dublin said on Tuesday. Belgian momentum slowed slightly, with a reading of 0.2% — down from 0.3%.
Asia:
Japan’s Job Market Tightens in Positive Sign for Wages, BOJ
Japan’s labour market tightened in September, indicating sustained pressure on companies to raise wages ahead of the Bank of Japan’s policy meeting this week.
The job-to-applicant ratio edged up to 1.24 from 1.23 in August, meaning that there were 124 jobs offered for every 100 applicants, the labour ministry reported Tuesday. Economists had forecast no change from 1.23.
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