February 2, 2024
United States:
US Jobs Report to Show Slower Hiring Pace After Annual Revisions
A monthly US jobs report due Friday will probably show a slower pace of hiring in 2023 following annual revisions, according to Bloomberg Economics.
The report is also likely to show employers added 160,000 workers to payrolls in January, with hiring continuing to be concentrated in government and health care, Bloomberg economists Anna Wong and Stuart Paul wrote Thursday in a preview of the release.
Europe:
European Banks’ $62 Billion Record Year Will Be Hard to Repeat
European banks generated record profits last year thanks to a rapid succession of interest rate increases. It’s a feat many will struggle to repeat.
Analysts surveyed by Bloomberg expect the combined net income for 11 of the biggest European banks to fall 6.3% this year from €56.5 billion ($61.5 billion) posted for 2023. That would still be the second-highest on records going back almost two decades.
Asia:
Korea Inflation Eases More Than Expected as Concerns Linger
South Korea’s inflation slowed more than expected to a range sought by policymakers, but they remain wary of a potential resurgence in price growth due to global conflicts that could spur energy costs.
Consumer prices advanced 2.8% in January from a year earlier, decelerating from 3.2% in December, the statistics office reported Friday. Economists surveyed by Bloomberg had forecast the pace would moderate to 2.9%.
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