Overseas Headlines – January 08, 2021

United States:

Sharp U.S. Hiring Downshift Projected With More Risks On Horizon

“U.S. job growth probably suffered a sharp slowdown in December, with further weakness expected until Covid-19 vaccines reach a larger swath of Americans and restore broader economic activity. Economists project the government jobs report on Friday will show the unemployment rate increased for the first time in eight months with employers hiring 50,000 workers, the fewest since payrolls started to recover in May. That pace, typically insufficient to reduce the jobless rate, would be lackluster growth even in pre-pandemic times, and more than a quarter of forecasters surveyed expect employment to decline amid soaring infections that have spurred states to tighten restrictions.”



Brexit Means U.K. Eateries Fight Harder for Authentic Fare

“Like many other Italian restaurants in London, the eatery Olivo is very much a product of the European Union’s single market. Its staff is mostly from Sardinia, able to work in the U.K. without special papers or visas. And its gourmet meals are made possible by a supply chain that extends across national borders to the island in the Mediterranean. Every week for the past 10 years, pallets loaded with fresh produce, cheese, cured grey mullet eggs and many other Sardinian specialties have left a small warehouse in the town of Elmas to be transported to the restaurant some 1,900 kilometers (1,181 miles) away.”



Japan’s Suga Risks More Economic Pain if Limited Emergency Fails

“Japanese Prime Minister Yoshihide Suga’s bet that a less-stringent state of emergency will limit the economic damage of virus containment runs the risk of compounding the pain if it proves insufficient. More analysts now see the economy shrinking again for the first time since the summer, as they recalculate projections in light of Suga’s emergency declaration covering great Tokyo and requests on Friday by Osaka and other prefectures to be added to the list.”



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