Overseas Headlines – April 7, 2021

United States:

U.S. Jobs Come Roaring Back, Surprising Employers and Economists

“A resurgent job market is creating more opportunities at a faster clip than many economists and employers expected. What’s more, too few people are applying for positions that are reopening, and that’s setting up a battle for talent. Restaurants and hotels are raising wages, offering bonuses for worker referrals or luring people from other states to cope with the shortage.”



ECB’s Wunsch Predicts Healthy Rebound But Bumpy Crisis Exit

“The euro-area economy is headed for a healthy rebound once coronavirus restrictions come to an end, but investors still need to brace for a bumpy exit from unprecedented stimulus, European Central Bank Governing Council member Pierre Wunsch said. “A lot of the conditions are met for a sustained recovery when we get out of lockdown, and if it’s not enough then we’ll have to do more,” Wunsch said in an interview on Tuesday. “I hope that at some point we’re going to discuss an exit, because it will show that our policy is effective. But exit is never a piece of cake.”



China’s Growth Set to Drive World Economy in Post-Pandemic Years

“China will drive global economic growth in the coming years as the world recovers from an pandemic that’s killed 2.9 million people, the International Monetary Fund predicts. China will contribute more than one-fifth of the total increase in the world’s gross domestic product in the five years through 2026, according to Bloomberg calculations based on IMF forecasts published Tuesday. Global GDP is expected to rise by more than $28 trillion to $122 trillion over that period, after falling $2.8 trillion last year in the biggest peacetime shock to output since the Great Depression.”



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