United States:
U.S. Initial Jobless Claims Decline to Fresh Pandemic Low
“Applications for U.S. state unemployment benefits fell last week to a fresh pandemic low amid a recovering economy. Initial unemployment claims in regular state programs fell 14,000 to 340,000 in the week ended Aug. 28, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a slight decrease to 345,000 new applications.”
Europe:
Europe’s Waning Crisis Sparks ECB Debate on Ending Stimulus
“The euro-area economy’s rebound and a dramatic inflation surge has reignited the sparring among European Central Bank policy makers about when to shift the institution away from its crisis mode. While euro-area central bankers were mostly united behind the measures taken to guide the economy through the Covid-19 recession, the return toward normality is fraying that consensus. Two hawkish Governing Council members, Austria’s Robert Holzmann and Klaas Knot of the Netherlands, kicked off a public exchange of views this week when they said that the inflation outlook now warrants stepping back stimulus.”
Asia:
Bank of Korea’s Lee Sees Solid Recovery as Data Beat Estimates
“Bank of Korea Governor Lee Ju-yeol’s optimism on the strength of the recovery and the latest inflation and growth data add support to views that the central bank will raise rates again this year. In a speech at a local conference on Thursday, Lee said South Korea’s “solid recovery trend will continue” amid the spread of the delta variant as increasing vaccination rates and resilient exports offer support.”
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