Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. How will China respond to the Trump ‘chaos’? We might get some clues this week The world has been thrown into deeper uncertainty since the US-Ukraine talks collapsed last…
WASHINGTON — U.S. employers added just 143,000 jobs last month, but the jobless rate fell to 4% to start 2025. What You Need To Know U.S. employers added just 143,000 jobs last month, but the jobless rate slipped to 4% to start 2025 and the government revised November and December payrolls higher The first job…
Amid a worsening unemployment crisis, China has seen the rise of an unusual trend where companies offer “pretend to work” services to help jobless individuals hide their situation from family and friends. For a daily fee of around 30 yuan (Rs 290), these services provide office space, lunch, and even fake workstations, complete with computers…
Resilience has become a hallmark of China’s economic strength in the face of challenges to recent growth targets. It has stood it in good stead once again in 2024, going by yearly economic figures from the National Bureau of Statistics. This sets a positive tone for the final year of the 14th five-year plan and…
Financial markets waited all week for the jobs data, and that data did not disappoint. Like in the Goldilocks tale, the jobs numbers weren’t too hot, nor too cold. They were just right! As a result, the S&P 500 and the Nasdaq both closed a record high on Friday (December 6th). The S&P 500 was…
US stocks ended Friday mixed, with the S&P 500 rising to an all-time-high. Investor optimism rose after jobs data fueled optimism about the economy and future rate cuts. Traders see higher odds of another rate cut in December, the CME FedWatch Tool shows. US stocks ended mixed on Friday, though the S&P 500 rose to…
China’s judges and prosecutors must pay more attention to solving conflicts and ensuring fairness rather than just closing cases, a senior judicial official said in a rare commentary, as authorities reflect on a string of mass killings in recent weeks. Wang Chengguo, secretary of the Political and Legal Affairs Commission of Zhejiang province, wrote in…
A record number of college students will graduate in China next year as Beijing strives to put the world’s second-largest economy on firmer ground. The education ministry anticipates a record 12.22 million graduates, a figure larger than the population of Ohio and 430,000 more than the number of graduates this year, which also set a…
Global stock markets faced a downturn for the third straight session on Thursday, as recent U.S. economic data depicted a steady labor market while highlighting challenges in controlling inflation. The Labor Department reported a decline in initial unemployment claims, coming in below economists’ expectations at 217,000 for the last week. Inflation concerns mounted with…
JPMorgan’s trading desk has some ideas on how much the stock market might move following Friday’s all-important jobs report. Friday’s data on nonfarm payrolls, the unemployment rate and wages are the last major economic release before next week’s presidential election and Federal Reserve policy meeting. Economists polled by Dow Jones expect jobs to have grown…