Bloomberg Daybreak: Asia Edition Daybreak Weekend: US Jobs, ECB Decision, Vietnam Eco
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May 30, 2025 Katya Dmitrieva, an Asia economy reporter at Bloomberg in Hong Kong, brings her expertise on Vietnam's economy to the discussion. She delves into the impact of tariffs on Vietnam’s economic landscape and trade dynamics with the U.S. amid ongoing negotiations. Dmitrieva highlights the challenges of diversification and technological growth amid scrutiny on exports. The conversation also touches on how external pressures influence Vietnam's strategic adaptations in trade relations, providing a captivating look at a rapidly evolving economy.
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Signs of Cracks in U.S. Labor Market
- The U.S. labor market is showing its first material signs of slack since the pandemic.
- A slowdown in hiring and an increase in unemployment indicate widening cracks that will impact Fed policy.
Travel Drop Impacts Service Jobs
- Hiring in leisure and hospitality slowed sharply due to reduced international travel.
- Trade tensions and travel retalitations have directly affected U.S. service sector job growth.
Rising Jobless Claims Reflect Caution
- Jobless claims have risen recently, especially continuing claims, signaling tougher job market conditions.
- Businesses are cautious about hiring amid economic policy uncertainties.