U.S. Job Growth Quickens as Gain of 531,000 Outstrips Estimates
“The U.S. labor market got back on track last month with a larger-than-forecast and broad-based payrolls gain, indicating greater progress filling millions of vacancies as the effects of the delta variant faded. Nonfarm payrolls increased 531,000 last month after large upward revisions to the prior two months, a Labor Department report showed Friday. The unemployment rate fell to 4.6% while the labor force participation rate was unchanged.”
U.K. Job Recruiters Say Wages Rising Because of Fewer Applicants
“Demand for staff in the U.K., driven by a lack of applicants for jobs, led to a record pay increase for workers starting new jobs in October. The Recruitment & Employment Confederation and KPMG, whose survey of 400 recruiters and employment consultancies is a closely-watched indicator of the labor market, found that candidate availability dropped at one of the fastest paces on record in the report’s 24 year-history. That drove a record increase in starting pay during the same period.”
Indonesia’s Economic Growth Slows as Delta Disrupts Recovery
“Indonesia’s economy decelerated in the third quarter as harsh lockdowns to contain a record spike in Covid-19 cases outweighed higher commodity prices and trade. Gross domestic product in the quarter rose 3.51% from a year ago, the statistics bureau announced Friday, down from 7.07% growth in the second quarter, as the virus wave peaked in July and August. That undershot both the median estimate of 3.88% in a Bloomberg survey of economists and the government’s projection of 4.5%.”
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