U.S. Companies Add Most Jobs in Three Months, ADP Data Show
“U.S. companies added more jobs than forecast in September, the most since June, suggesting that ongoing hiring challenges are beginning to ease as more Americans return to the workforce. Businesses’ payrolls increased by 568,000 last month, led by leisure and hospitality, after a revised 340,000 gain in August, according to ADP Research Institute data released Wednesday. The median forecast in a Bloomberg survey of economists called for a 430,000 rise.”
U.K. Inflation Expectations at 13-Year High Lift Rate-Hike Bets
“A market-based measure of expected inflation in the U.K. over the next decade topped 4%, bolstering wagers for tighter monetary policy. The so-called 10-year breakeven rate climbed as much as 10 basis points to 4.08%, the highest since 2008. The move was spurred by a spike in energy costs with U.K. natural gas prices surging to a record, threatening to fuel higher consumer prices.”
Korea Inflation Exceeds Estimate, Backing Further Rate Hike
“South Korea’s inflation came in faster than expected in September, adding support to the view that the central bank will raise interest rates again this year. Consumer prices rose 2.5% from a year earlier, the statistics office reported Wednesday. Economists had expected the rate to edge down to 2.4% from 2.6% in August.”
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