Overseas Headlines – June 3, 2020

United States:

Firms Cut Fewer U.S. Jobs Than Forecast in May, ADP Data Show

“U.S. companies shed fewer workers in May than expected, offering some hope that the worst of the coronavirus-related hit to the labor market is over The 2.76 million decline in business payrolls last month followed a revised 19.6 million decrease in April, according to ADP Research Institute data released Wednesday.”



Europe’s Virus Aid Stems Mass Jobs Destruction in Labor Shock

“Jobless claims across Europe have surged under widespread lockdowns of economies, but the devastation pales in comparison with the shock to the U.S. labor market from the coronavirus.”



Hong Kong Can Get U.S. Dollars From China If Needed, Chan Says

“China’s central bank can provide U.S. dollars to back Hong Kong’s currency peg should the Trump administration impose sanctions on the territory, according to the city’s financial chief.”



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