It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
The US job market is expected to continue growing in March, with around 200,000 new jobs created. However, recent revisions have raised concerns about the accuracy of initial job growth numbers. Economists will also be looking at the composition of the job growth and signs of potential weakening, such as a decline in full-time employment and an increase in part-time and temporary work.
The US economy created 303,000 jobs in March, exceeding expectations. The unemployment rate remained low at 3.8%, despite an increase in the participation rate. Wages rose 0.3% for the month, consistent with forecasts. Healthcare, government, hospitality, and construction sectors contributed significantly to job gains. Despite positive overall trends, the unemployment rate among Black individuals increased. The strong job market could influence the Federal Reserve's decision on interest rates.
Black Americans' unemployment rate has jumped to 6.4% in March, largely due to a surge in joblessness among Black women, whose rate climbed to 5.6%. This increase is concerning, as it has been rising since December. The higher unemployment rate among Black workers persists despite an overall decline in the U.S. unemployment rate. Economists caution that continued monitoring of the situation is essential.
Inflation in the euro zone has slightly decreased to 2.4%. This has led to expectations that the European Central Bank will begin reducing interest rates in June. While some sectors remain inflationary, overall price pressures have eased. A low unemployment rate and the recent messaging of ECB officials support the likelihood of rate cuts in the near future.
The Federal Reserve is meeting this week to discuss interest rates. They are expected to maintain the current range and project three rate cuts later this year. The meeting will focus on the "dot plot," which shows individual members' interest rate expectations, and could indicate a shift in the outlook on cuts. The Fed will also release economic projections for GDP, inflation, and unemployment, likely reflecting a revised inflation outlook and a slightly upgraded GDP forecast.
China's economy is doing better than expected. Retail sales, industrial production, and investment all grew more than analysts predicted in the first two months of the year. Online retail sales also increased significantly. However, consumer demand is still weak, and investment in real estate has fallen. The government is considering further policy easing measures to boost growth.
