United States:
U.S. Jobless Claims Drop to Pandemic Low of 281,000
“Washington (AP) — The number of Americans applying for unemployment benefits fell to a pandemic low last week as the job market continues to recover from last year’s coronavirus recession. Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels just above 200,000.”
Europe:
U.K. Budget Signals Sunak Embracing Inflation to Erode Debt
“U.K. Chancellor of the Exchequer Rishi Sunak appears to have embraced surging inflation. With a budget that increased wages, cut taxes for low income households and pumped investment into public services, Sunak on Wednesday laid out plans to add 75 billion pounds ($103 billion) of stimulus across the next six years.”
Asia:
Japan’s Retail Sales Beat Estimates as Shoppers Defy Virus Fears
“Japan’s retail sales regained ground in September following a sharp drop the month before, an indication that shoppers felt more comfortable spending as virus infections started to fall from August’s peak. Higher outlays on clothing, accessories and general merchandise helped receipts at retailers rise 2.7% from the previous month, the economy ministry data reported Thursday. Analysts had expected a 1.5% increase from August.”
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