June 6, 2025
United States:
US Jobs Report Points to Gradual Moderation in Labor Market
US job growth moderated in May and the prior months were revised lower, indicating employers are cautious about growth prospects as they weigh the Trump administration’s economic policy.
Nonfarm payrolls increased 139,000 last month after a combined 95,000 in downward revisions to the prior two months, according to Bureau of Labor Statistics data out Friday. The unemployment rate held at 4.2%, while wage growth accelerated.
Europe:
Euro-Area Growth Jumped at Start of Year Thanks to Ireland
The euro-area economy expanded twice as much as previously reported at the start of 2025, as countries including Ireland and Germany saw exports surge in anticipation of US trade tariffs later this year.
First-quarter output rose 0.6% from the previous three months, above the second estimate of 0.3% from mid-May, Eurostat said Friday.
Asia:
US Treasury Calls on BOJ to Hike Rates to Correct Yen Weakness
The US Treasury called on the Bank of Japan to raise interest rates to strengthen the yen, stepping much deeper into policy recommendations for Tokyo than before in its semiannual currency report.
“BOJ policy tightening should continue to proceed in response to domestic economic fundamentals including growth and inflation, supporting a normalization of the yen’s weakness against the dollar and a much-needed structural rebalancing of bilateral trade,” the Treasury Department said in a report released Thursday in Washington.
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