Breaking News
China’s Economic Growth Projected at 7.9% in 2021
...
Pakistan Procures COVID-19 Vaccine from China
...
China to Build Over 600,000 5G Base Stations Next Year
...
China Builds The World’s Fastest Freight Train
...
WTO To Be Led By A Woman For The First Time In 25 Years
...
The Secret Behind Swiss Economic Success
...
The US Labor Market Thundered in June
Although economists had forecast 160,000 jobs, 224,000 jobs were created in the USA in June. This eradicated the idea that America’s economy was heading for a recession.
The business sector added 51,000 jobs to the economy, with healthcare, transportation, and warehousing being major contributing factors of employment.
Jobs rose in an exponential rate in June but the wage growth rate only increased by 0.2%.
Since the economy is doing so well, the Fed might lower interest rates after their meeting in 30th July.
Employment rates have increased gradually and even though the US has been churning poor manufacturing data, it is possible that the Fed will loosen policy later and decrease interest rates much later until September, according to Andrew Hunter, a senior US economist.
Related Articles
Libor Scandal: Seven banks summoned for questioning
Seven banks, including HSBC and Citigroup, have been summoned to be questioned in the US for the alleged manipulation of
Chinese Telecom Firms Deny US Spying Charges
Huawei and ZTE, the world’s two biggest makers of telecom networking equipment, denied US charges that some of their equipment
Barclays Website Discloses Phone Conversation Regarding Libor Rate Setting
Barclays reveals a phone conversation between then CEO Bob Diamond and the Deputy governor of the Bank of England. In
