Bloomberg Daybreak: Europe Edition
Daybreak Weekend: US Jobs, UK Food and Culture, China Economy
Jan 4, 2025
Jenny Marsh, Bloomberg's Greater China EcoGov team leader, shares her insights on China's economic outlook as it faces significant challenges heading into the new year. She discusses the potential for government stimulus and the need for increased domestic consumption amidst rising debt and threats of deflation. The conversation also touches on the impact of trade wars and the strategies necessary to foster growth. Additionally, listeners get a preview of emerging food and culture trends in the UK and the resilience of its economy.
38:37
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Quick takeaways
- The U.S. job market is showing signs of a slowdown, with expectations of rising unemployment rates despite recent growth in jobs added.
- China is pivoting towards consumer spending initiatives and fiscal stimulus to rejuvenate its economy, amid challenges like rising debt and deflation.
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Labor Market Trends and Predictions
Job growth in the U.S. labor market showed a rebound in November, with 227,000 jobs added. However, expectations for December indicate a slowdown, with only about 155,000 jobs anticipated, leading to concerns over rising unemployment rates. The decline in hiring rates and the increasing duration of unemployment suggest a cooling labor market that may not sustain the current unemployment levels. Economists predict that the unemployment rate could rise to around 4.5% by mid-2025, emphasizing the need for a robust job market to support population growth.
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