February 7, 2025
United States:
US Job Growth Slowed in January After 2024 Downward Revision
US job growth moderated in January after annual revisions from the government revealed less vigor in the labour market last year than previously thought.
Nonfarm payrolls increased by 143,000 last month after a revised 307,000 gain in December, a Bureau of Labor Statistics report showed Friday.
Europe:
ECB Paper Suggests Two More Cuts Can Take Rates to Neutral
Economists at the European Central Bank said the neutral rate of interest, a concept that may help determine where cuts in borrowing costs will end, is probably between 1.75% and 2.25%.
That would mean the top of the range could be reached with two more quarter-point reductions in the deposit rate, which currently stands at 2.75%.
Asia:
Japan’s Household Spending Jumps Most Since 2022 as Wages Rise
Japan’s households boosted consumption at the fastest pace since August 2022, as strong wage gains led by bonuses helped loosen consumers’ purse strings.
Outlays adjusted for inflation gained 2.7% in December from a year earlier, the Ministry of Internal Affairs reported Friday.
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