United States:
U.S. Companies Add Far Fewer Jobs Than Forecast, ADP Data Show
“U.S. companies added far fewer jobs than expected in July, indicating persistent hiring obstacles despite broader improvement in the economy. Businesses’ payrolls increased by 330,000 last month, the smallest gain since February, after a revised 680,000 gain in June, according to ADP Research Institute data released Wednesday. The figure fell short of all economists’ estimates in a Bloomberg survey. The median estimate was for a 690,000 rise.”
Europe:
U.K. House Prices Ease as Tax Cut Starts to Phase Out
“U.K. house prices fell unexpectedly in July, signaling a loss of momentum in the property market after a tax break on purchases began to be phased out. The average value of a home fell 0.5% to 244,229 pounds ($338,800), the first decline in four months, Nationwide Building Society said Wednesday. It followed an average gain of 1.6% between April and June. The annual pace of increase slowed to 10.5% https://www.bloomberg.com/news/articles/2021-07-28/u-k-house-prices-fell-in-july-as-tax-cut-starts-to-phase-out?srnd=economics-vp&sref=FmvzgEwg from a 17-year high of 13.4%.”
Asia:
Singapore Central Bank Head Takes On Thorny Political Issues
“In the last few weeks, the managing director of the Monetary Authority of Singapore has gained attention for his personal views on some politically charged topics, echoing a similar evolution among his central banking peers as they address the world beyond money supply. In a series of recent lectures as a visiting scholar at a local university’s think tank, Ravi Menon has tackled several top issues facing policy makers in the city-state and globally: a possible wealth tax and minimum wage to address inequality; the economic case for foreign labor and immigration; and the need for a higher carbon tax to meet climate-change commitments.”
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