September 1, 2023
United States:
US Payrolls Rise by More Than Forecast While Wage Growth Cools
US hiring picked up in August and wage growth slowed, offering a mixed picture of both resilience and moderation in the labor market.
Nonfarm payrolls rose by 187,000 after the prior two months were revised significantly lower, a Bureau of Labor Statistics report showed Friday. The unemployment rate climbed to 3.8%, the highest since early last year and largely reflecting a pickup in participation.
Europe:
ECB’s Options Remain Open With Rate Peak Close, Villeroy Says
The European Central Bank hasn’t yet decided what to do this month but the end of its interest-rate hiking cycle is near, according to Governing Council member Francois Villeroy de Galhau.
“Our options are open at this meeting, as they will be at the following ones,” the Bank of France governor told journalists in Paris on Friday.
Asia:
China Ramps Up Campaign to Boost Fragile Economy, Currency
China intensified efforts to stimulate the economy and support its currency, as investor concerns over the growth outlook persist.
The central bank will trim the amount of foreign currency deposits banks are required to hold as reserves for the first time this year, the People’s Bank of China said Friday. The move came hours after authorities announced fresh stimulus for the beleaguered property sector and unveiled plans to expand tax breaks for child and parental care and education.
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