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Two big data hinted that non-farmers were disappointing in August, and the United States was afraid to test the support level of 92.23.
Huitong, Sept. 2 (Xinhua)-- Dutch International released an article on Sept. 2 that the ADP data in August were much lower than market expectations, and the ISM manufacturing employment index fell sharply in August, all of which were worrying or hinted at disappointing non-farm workers in August. The market expects the US non-farm rise to reverse, to just 750000 in August, and the unemployment rate will fall further to 5.3 per cent. In addition, the market hopes that the average annual rate of hourly wages will stabilize at 4%. The U.S. Bureau of Labor Statistics will release key employment data such as non-farm work and unemployment in August at 20:30 Beijing time. Dutch International said that for a period of time in the past, the market focus was mainly Wachovia.
In the United States, there is a shortage of labor force. Middle school students who work during the summer vacation are in demand.
With the arrival of the summer vacation, the labor shortage in American catering and other industries has been temporarily alleviated, and the owners of many restaurants, amusement parks and retail stores have issued unusual thanks: thank you, teenagers who work during the summer vacation! As the US economy recovers and customer demand intensifies, high school students are filling jobs that older people are unable or unwilling to do. Many older Americans have been slow to respond to a record number of job openings, exacerbating labor tensions. Some people have health problems or have difficulties in taking care of their children, but others just don't bother to look for a job because of the epidemic.
Powell: the Fed will not pre-emptively raise interest rates and inflation will exceed expectations, but temporarily.
Federal Reserve Chairman Colin Powell said Tuesday that the Fed will not pre-emptively raise interest rates and will not raise interest rates for fear that the unemployment rate is too low. Powell testified on "the Fed's response to the coronavirus pandemic" before the House of Representatives Special Subcommittee on Coronavirus crisis on Tuesday afternoon. Powell said that the best way for the Fed to ease inequality is to focus on employment and will take measures to deal with the substandard unemployment rate. Labor supply and employment are expected to be good this year. On the question of inflation, which is of general concern to the market, Powell is answering the question of "is 5% inflation acceptable?" When asked, he said that 5% inflation is, of course,
Bank of America and Credit Suisse advance expectations of UK interest rate hikes due to unexpected soaring inflation and strong economic performance
BofA and Credit Suisse believe the UK will raise interest rates for the first time since the outbreak sooner than previously expected. The two banks had previously thought the Bank of England would not act until 2023, but are now expected to raise interest rates for the first time in the second and third quarters of next year, respectively. Earlier, UK inflation soared unexpectedly, breaking the central bank's 2 per cent target for the first time in nearly two years, while economic growth accelerated and more jobs were being created. The expectation reflects optimistic expectations of a rapid recovery after the UK economy suffered its worst recession in 300 years. The Bank of England's policy makers slowed the pace of economic stimulus last month and may be after next week's meeting.