July 3, 2025
United States:
US Job Growth Picks Up With Help From Public Education Hiring
US job growth exceeded expectations in June as an unusual surge in public education hiring masked a slowdown in employment across the rest of the economy.
Payrolls increased 147,000 last month, driven by a jump in state and local government employment, according to a Bureau of Labor Statistics report out Thursday. The unemployment rate fell to 4.1% as both participation and the number of out-of-work people declined.
Europe:
ECB Officials Flagged Danger of Strong Euro at June Meeting
European Central Bank officials highlighted potential dangers for exporters from gains in the euro, according to an account of their June meeting that brought an eighth cut in interest rates.
The ECB saw uncertainty over trade already clouding the outlook for the euro zone’s 20-nation economy, weighing particularly on investment, a summary published Thursday showed. “Higher tariffs and the recent appreciation of the euro should weigh on exports,” the account said.
Asia:
Japan’s 2025 Wage Talks Conclude With Highest Gain in 34 Years
Japan’s annual wage negotiations concluded with the largest pay increase in 34 years, an outcome that supports the central bank’s view that a cycle of higher wages and prices is emerging.
Workers at 5,162 companies affiliated with the nationa’s largest union federation Rengo secured an average wage increase of 5.25% in this year’s negotiations, according to the final update of pay deals announced by the union group on Thursday.
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