Bloomberg Daybreak: Asia Edition Daybreak Weekend: US Jobs, UK Food and Culture, China Economy
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Jan 3, 2025 In this discussion, Jenny Marsh, Bloomberg's team leader for Greater China EcoGov, unpacks the pressing challenges facing China's economy. She emphasizes the urgent need for stimulus to combat rising debt and trade tensions. Marsh also delves into the impact of consumer confidence on recovery by 2025. The conversation highlights the grim economic sentiment among the Chinese populace and the overcapacity plaguing the electric vehicle sector, underscoring a critical juncture for China as it navigates its complex economic landscape.
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December Jobs Report Significance
- The December jobs report, released Friday at 8:30 a.m. Wall Street time, offers insights into the US labor market.
- This data is crucial for understanding Fed policy moving forward.
November Jobs Report Overview
- November job growth rebounded to 227,000 added jobs, influenced by holiday retail staffing.
- The absence of major storms or strikes contributed to this rebound.
December Job Growth Estimate
- December's job growth is estimated around 155,000, slower than the yearly average of 180,000.
- The establishment survey might have overstated 2024 hiring, suggesting a true average closer to 75,000-80,000 jobs per month.