U.S. Job Growth Picks Up in Sign of Progress on Filling Openings
“U.S. job growth picked up in May — along with worker pay — and the unemployment rate fell, signaling firms are making some progress filling a record number of openings as the economy powers up. Payrolls increased by 559,000 last month after a revised 278,000 gain in April, according to a Labor Department report Friday. The median estimate in a Bloomberg survey of economists was for a 675,000 rise. The jobless rate dropped to 5.8%, while the labor participation rate was little changed.”
U.K. Agrees Trade Deal With Norway in Latest Post-Brexit Accord
“The U.K. agreed a new trade accord with Norway, Iceland and Liechtenstein, its latest post-Brexit deal which cuts tariffs on agricultural products and fish. The agreement, which builds upon a roll-over deal that Britain had signed with Norway when it left the European Union at the end of 2020, also reduces paperwork on commerce and will make it easier for high-skilled professionals to travel from the U.K. to the respective countries, the Department for International Trade said in a statement.”
Japan Household Spending Jumps by Double Digits in April
“Japanese household spending jumped by double-digits in April as consumers got a temporary reprieve from virus restrictions and the data got boosted by comparison with 2020’s pandemic-hit figures. Spending surged 13% from a year earlier, the ministry of internal affairs reported Friday in figures that beat the median estimate from economists by a wide margin.”
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