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Financial Times (January 9)

2024/ 01/ 09 by jd in Global News

“Unemployment in the eurozone fell back to a record low of 6.4 per cent in November, defying recent economic gloom after the number of jobless people fell almost 100,000 from a month earlier.” With the job market “proving more resilient than expected,” the ECB may worry more “about the timing of a potential cut in interest rates” as “rapid wage growth could keep price pressures elevated.”

 

ABC New (December 26)

2023/ 12/ 27 by jd in Global News

Due to unexpectedly high migration, “fears that Australia would enter a technical recession during 2023 didn’t eventuate.” Still, “for many, life in 2023 certainly felt recession-like as Australians faced more interest rate hikes, a rising tax bill and a still-increasing cost of living that again outpaced wage growth.”

 

Bloomberg (September 21)

2023/ 09/ 23 by jd in Global News

“The value of the yen has slumped to the lowest on record, as measured against a broad basket of its peers and adjusted for inflation,” the Bank for International Settlements found based on data from 1970 onward. This serves to “underscore the pressure on the Bank of Japan to normalize its ultra-easy monetary regime, which continues to weigh down the nation’s interest rates and weaken the currency. The drop in the so-called real effective exchange rate means Japanese have to pay more for imported goods and services at a time when wage growth is failing to compensate for inflation.”

 

Investment Week (September 12)

2023/ 09/ 14 by jd in Global News

“Annual growth in employees’ average total pay, including bonuses, was 8.5%; which was boosted by the NHS and Civil Service one-off payments made in June and July. Due to the strong momentum in wage growth, the Bank of England is expected to push ahead with a 25 basis point interest rate rise at its Monetary Policy Committee meeting later this month.”

 

Morningstar (June 3)

2022/ 06/ 06 by jd in Global News

“Job and wage growth” finally appear to be “moderating, and that’s good news.” This can get hidden by monthly volatility. However, the three-month rolling average of job gains “stood at a lofty 602,000” in February. “It’s now 408,000.” The economy looks to be “shifting to a steadier, healthier pace of growth.”

 

Reuters (April 27)

2017/ 04/ 28 by jd in Global News

For “the first time since March 2008 the BOJ used the word ‘expansion’ to describe the state of the economy, signaling its conviction that the recovery was gaining momentum.” Still, some “analysts doubt inflation will accelerate as quickly as the BOJ projects, with slow wage growth keeping households from boosting spending.”

 

Wall Street Journal (March 18)

2015/ 03/ 18 by jd in Global News

“Major Japanese manufacturers lined up Wednesday to give their employees bigger pay raises starting in April.” This could provide a boost to Abenomics, but “the diverging fortunes of Japan’s big and small firms suggest that Mr. Abe may have more work to make wage growth spread.”

 

Institutional Investor (July 23)

2014/ 07/ 25 by jd in Global News

However you look at it, “positive inflation momentum is apparent” in the U.S. From the top down, unemployment has fallen. As slack lessens, “we may begin to see signs of this tightening appear in the form of wage growth.” And from the bottom up, there were “multiple factors that pushed inflation lower over the past 12 to 18 months: predominantly, disinflation from medical and core goods components.” But these were driven by unique events like the sequester and the strength of the U.S. dollar. “Neither the medical nor the core goods component is likely to be a drag on inflation going forward.”

 

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