Bloomberg Daybreak: Europe Edition
Daybreak Weekend: US CPI, Paris AI Summit, Trade War
Feb 7, 2025
Join Parmy Olson, Bloomberg's tech opinion columnist, as she explores the buzz around the AI Action Summit in Paris, emphasizing the competitive global AI landscape. Meanwhile, Karishma Vaswani delves into the fallout of Donald Trump's trade war with China, discussing how tariffs could impact both economies. The conversation also addresses the evolving nature of AI governance and the urgent need for regulatory frameworks amid rapid advancements.
38:46
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Quick takeaways
- The U.S. labor market shows signs of cooling with only 143,000 jobs added, despite a slight dip in the unemployment rate.
- Upcoming U.S. retail sales are expected to decline due to adverse weather and falling auto sales amid rising economic pressures.
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Mixed economic indicators from the U.S. labor market reveal a slowing trend, with only 143,000 jobs added in January compared to earlier estimates of 200,000. Additionally, there were downward revisions in past employment figures, with 610,000 fewer workers on payrolls than previously thought. While some sectors, such as professional services and leisure, demonstrated a decline in employment, the overall unemployment rate did dip slightly due to an increase in population estimates and adjusted household survey data. This presents a complex picture of the labor market, indicating signs of cooling despite a minor decrease in the unemployment rate.
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