United States:
Normalizing But Not Back to Normal: The U.S. Job Market in 2022
“The mixed picture of the U.S. labor market that emerged in 2021 isn’t going anywhere this year. While the unemployment rate has been falling for months, the labor force participation rate has barely budged. Wages are rising, but not enough to offset inflation. Job openings remain well above pre-pandemic levels and employers are struggling to find qualified workers. And the virus itself continues to disrupt child care arrangements and raise health concerns, keeping many Americans on the sidelines.”
Europe:
Euro-Area Inflation Unexpectedly Hits Record in Test for ECB
“Inflation in the euro region accelerated beyond already record levels, defying expectations for a slowdown and complicating the task for European Central Bank officials who insist the current spike is temporary. The euro strengthened. Consumer prices jumped 5% from a year earlier in December — faster than the previous month’s 4.9% gain and more than the 4.8% median estimate in a Bloomberg survey of economists.”
Asia:
China Says Stable Economy Is ‘Crucial’ Political Issue in 2022
“Ensuring that China’s economy remains stable before a twice-a-decade meeting of the ruling Communist Party is “crucial,” a top policymaker says, a sign of the outsize role the event will play in the nation this year. “All regions and departments must take responsibility for stabilizing the economy,” Han Wenxiu, executive vice minister of the party’s central financial and economic affairs commission, wrote Tuesday in state-run Outlook Weekly.”
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