Overseas Headlines – October 22, 2020

United States:

U.S. Jobless Claims Decline After California Resumes Reporting

“The number of Americans filing for unemployment benefits fell for the third time in four weeks, suggesting the labor market is still gradually recovering while remaining far from its pre-pandemic health. The improvement last week was broad-based across states and California resumed reporting after a pause, offering figures that improved the overall jobs picture.”



Sunak Boosts U.K. Aid Again as Economy Reels Under Virus Curbs

“Chancellor of the Exchequer Rishi Sunak announced a significant increase in U.K. government support for businesses hamstrung by the resurgent coronavirus, his third push in less than a month to stop a wave of job losses. He raised government contributions to workers’ wages, and reduced the hours they have to work in order to qualify for state support. He also stepped up help for the self-employed and announced a package of grants to businesses suffering because of pandemic restrictions.”



Hong Kong Consumer Prices in Worst Deflation Run Since 2009

“Hong Kong’s consumer prices contracted for a third month in September, matching the longest deflationary stretch in more than a decade largely because of government relief measures to combat the coronavirus and recession. The city’s composite consumer price index fell 2.2% last month compared with year-ago levels, according to a government report. That’s more than the -0.3% median forecast among economists surveyed by Bloomberg.”




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