Bloomberg Daybreak: US Edition
Daybreak Weekend: US Jobs, Special European Council, Australia Eco
Feb 28, 2025
Michael McKee, Bloomberg's International Economics and Policy Correspondent, shares insights on the February jobs report and its implications for Fed policy. Mary Ross Gilbert, Senior Equity Analyst, analyzes Macy's and Gap's fourth-quarter earnings amidst retail challenges. Swati Pandey, Australia EcoGov reporter, discusses the effects of the RBA's recent rate cut on the Australian economy and the recovery of consumer spending. The conversation also highlights key global economic trends, making it a must-listen for investors.
38:41
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Quick takeaways
- The U.S. job market shows steady growth with an expected rise in non-farm payroll numbers, reflecting economic stability amid evolving policies.
- Australia's economy is recovering from stagnation as interest rates are cut, yet many Australians remain financially squeezed despite signs of increased consumer spending.
Deep dives
Labor Market Insights
Recent data regarding the U.S. labor market is indicating a steady job creation trend, with expectations for February showing an increase in non-farm payroll numbers from 143,000 to around 158,000. Despite this growth, the unemployment rate is expected to remain unchanged at 4%, signaling stability in employment. Average hourly earnings are projected to show slight fluctuations, with a potential decrease month-over-month, but an increase year-over-year. Overall, there remains uncertainty regarding how the new administration's policies will ultimately impact employment figures, as these changes may not be immediately apparent.
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