Overseas Headlines – October 7, 2021

United States:

U.S. Initial Jobless Claims Fell More Than Expected Last Week

“Applications for U.S. state unemployment benefits retreated last week to the lowest in a month in a broad-based decline, pointing to ongoing improvement in the labor market. Initial unemployment claims in regular state programs totaled 326,000 in the week ended Oct. 2, a decrease of 38,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a decrease to 348,000 applications.”



BOE’s New Chief Economist Sees Prolonged Jump in U.K. Inflation

“The Bank of England’s new chief economist says the current spike in U.K. inflation looks set to last longer than originally thought, in comments that may boost speculation that interest rates may be about to rise. In his first public remarks since taking up the role, Huw Pill said that risks to the economy are far more two-sided than they have been for some time, and as a result policy decisions will become more finely balanced. U.K. government bonds briefly dipped after the questionnaire was published, boosting yields.”



Thousands of Vietnamese Flee Industrial Areas After Virus Restrictions Ease

“Millions of migrant workers in Vietnam could flee the country’s factory heartland — home to suppliers for companies including Abercrombie & Fitch Co., Nike Inc. and Adidas AG — in the latest blow to the world’s troubled supply chains. Tens of thousands of workers have already left the nation’s commercial hub of Ho Chi Minh City and nearby provinces of Binh Duong, Dong Nai and Long An, the government said on its website. As many as 2.1 million workers in the industrial belt want to return to their home provinces, the government reported, citing data from the public security ministry.”




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