Bloomberg Daybreak: Asia Edition
Daybreak Weekend: US Jobs, Special European Council, Australia Eco
Feb 28, 2025
Mary Ross Gilbert, a Senior Equity Analyst at Bloomberg Intelligence specializing in retail, shares insights on Macy's and Gap's fourth-quarter earnings and their recovery strategies amid economic uncertainties. Swati Pandey, an Asia EcoGov reporter, discusses the Australian economy's resilience, highlighting consumer behavior and labor market dynamics. They also explore potential impacts of U.S. tariffs on trade with China and the cooling inflation trends that are shaping economic policies in Australia.
38:41
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Quick takeaways
- The upcoming February jobs report in the US is expected to show job growth amid concerns about the impact of administration policies on employment.
- Europe's political landscape is evolving with discussions on defense spending and security cooperation in light of diminishing American support due to the Ukraine conflict.
Deep dives
US Labor Market Insights
The February jobs report is anticipated to reveal an addition of approximately 158,000 jobs, up from last month's gain of 143,000. The unemployment rate is expected to remain stable at 4%, but uncertainties surrounding employment numbers due to recent administration policies create caution among economists. Analysts have noted that average hourly earnings might show a slight month-over-month drop, although they are expected to be higher year-over-year. The overall confidence in these projections is tempered by the unknown impacts of upcoming layoffs and how they will reflect in future jobless claims.
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