U.S. Jobs Recovery Cools in Shadow of Delta Variant: Eco Week
“A likely moderation in U.S. hiring in the monthly employment report on Friday will give policy makers a measure of the health of the labor market and the threat posed by the delta variant of the coronavirus. The U.S. probably added 750,000 jobs in August, a slowdown from June and July but well above the pace seen earlier this year, according to the median of economists’ forecasts.”
German Inflation Climbs to Highest Since 2008 on Energy Costs
“German inflation jumped to its highest level since 2008, driven by energy and higher costs passed on by businesses. Consumer prices rose 3.4% in August, significantly faster than the 2% the European Central Bank aims to achieve sustainably for the euro area. Earlier on Monday, Spain reported a rate of 3.3%.”
China Sees Skilled Labor Shortages Worsening Amid Tech Push
“China expects shortages of skilled workers will worsen over time as the government develops its high tech industries, focusing attention on the need for better training and education. The mismatch between jobs and skills will become the main problem in the labor market, Gao Gao, deputy secretary general of the National Development and Reform Commission told reporters Monday following the release of a new five-year employment plan through 2025. While the share of skilled workers has risen to about 30% of workforce, it remains low compared with other manufacturing powerhouses, he said.”
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