July 2, 2025
United States:
US Private Payrolls Fall for First Time in Two Years in ADP Data
Employment at US companies fell in June for the first time in more than two years, reflecting a drop in services payrolls that may raise concerns about a more pronounced labor market slowdown.
Private-sector payrolls decreased 33,000 last month after a downwardly revised 29,000 gain in May, according to ADP Research data released Wednesday.
Europe:
ECB’s Rehn Worried About Effects of Lengthy Inflation Undershoot
European Central Bank Governing Council member Olli Rehn is worried that inflation staying below 2% for a lengthy period could shift the price outlook of euro-zone consumers.
The ECB is projecting 18 months of inflation below its goal as US tariffs dent confidence and the 20-nation economy struggles to expand.
Asia:
Japan’s Record Tax Haul Leaves Questions Over Ishiba’s Pledge
Japan’s tax revenues hit a record of around ¥75.2 trillion ($524 billion) in the fiscal year ended March, surpassing government forecasts by ¥1.8 trillion. But the windfall still left questions over how Prime Minister Shigeru Ishiba will fund his cash handouts, a key election pledge.
The total marks a fifth consecutive year of record tax receipts, up from ¥72.1 trillion the previous year and ahead of the earlier estimate of ¥73.4 trillion, the Finance Ministry said Wednesday.
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