Overseas Headlines – December 9, 2021

United States:

U.S. Job Openings Near Record, Quits Rate Sees First Drop Since May

“U.S. job openings jumped in October to the second-highest on record, underscoring the ongoing challenge for employers to find qualified workers for an unprecedented number of vacancies. The number of available positions rose to 11 million from an upwardly revised 10.6 million in September, the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday. Meanwhile, the quits rate fell to 2.8% from a record 3% in the prior month, the first decline since May, suggesting employers are having some more success retaining workers.”



Time to Ask for U.K. Pay Rise? These Workers Stand to Gain

“The fastest wage gains since the 2008 global financial crisis are throwing up opportunities and obstacles throughout the U.K. economy, leaving workers to wonder how much they’ll ultimately benefit. Underlying wages, adjusting for distortions caused by lockdowns and the furlough program, are rising 4.5%, according to Bank of England policy maker Michael Saunders. He expects them to pick up again over the next year as companies battle one of the rich world’s worse labor shortages.”



China Factory Inflation Slows in November From 26-Year High

“China’s factory inflation moderated in November from a 26-year high, with the slowdown providing more room for policymakers to support the economy. The producer price index rose 12.9% from a year earlier, above economists’ forecasts of a 12.1% gain, data from the National Bureau of Statistics showed Thursday. The consumer price index increased 2.3%, the fastest pace since August 2020 but below the projected 2.5% gain.”



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