Economic News

The dollar fell more than a cent on Friday against the euro after a much weaker than forecast May United States employment report softened expectations for the future pace of monetary tightening. // The US economy generated 75,000 jobs in May compared with a downwardly revised 126,000 in April. The median forecast was 175,000, according to Reuters. The jobless rate fell unexpectedly to 4.6 per cent from 4.7 per cent in April. “Today’s disappointment over the non-farm payrolls report reinforc ...

WASHINGTON (Dow Jones) -- Economists, looking for an end to uncertainty over the immediate path for Federal Reserve monetary policy, are on the hunt for something that will "seal the deal" for either the 17th straight rate hike or pause at the next policy meeting on June 28-29. At the moment, "the outcome is close to an even bet between no action and further tightening," said Mike Moran, chief  ...

WASHINGTON (Dow Jones) -- Although many Wall Street economists are saying the anemic May unemployment report is reason for the central bank to move to the sidelines, one top Fed official seemed to downplay any sign of weakness report on Friday. Michael Moskow, the president of the Chicago Fed bank, said that although the pace of job growth "has moved up and down," on balance it has been "solid" ...

Government bonds around the globe perked up on Friday after surprisingly weak US employment data eased fears of another interest rate rise in the world’s largest economy. // Non-farm payrolls in the US rose by 75,000 in May, less than half the 175,000 expected. Typically, about 150,000 jobs need to be created each month to swallow up workers entering the labour force. Adding to the soft tone were downward revisions to the previous two months, which reduced the level of employment by a further 3 ...

Turkey’s leading businessmen have launched a fierce attack on the government, accusing it of undermining the country’s secular traditions and of losing interest in joining the European Union. // In Friday’s unusually pointed broadside that will have wide political repercussions, they said the government, which has its roots in political Islam, was eroding Turkey’s prestige by pursuing a religious ...

The US economy created 75,000 jobs in May, considerably below expectations, US Labor Department data shows. The figure was nearly half April's original figure of 146,000 new jobs, though that was later revised lower. In separate data, the non-farms payroll brought the US unemployment rate to 4.6% in May, from 4.7% in April. While the job creation data points to a cooling economy, some economists welcome it because they believe that it makes an interest rate rise unlikely. 'Pressure off' In  ...

WASHINGTON (Dow Jones) -- U.S. job growth was fairly anemic in May, but the unemployment rate slipped to its lowest level in almost five years, the Labor Department said Friday. Nonfarm payrolls increased by a seasonally adjusted 75,000 in May, well below the 174,000 expected by economists. Revisions reduced job gains in the past two months by 37,000. There was a sharp reaction in financial  ...

WASHINGTON (Dow Jones) -- A pause in the Federal Reserve's monetary-policy- tightening campaign is back in play, following the release Friday of a disappointingly weak U.S. payrolls report for May While most analysts had been expecting the Federal Open Market Committee to take its 17th consecutive opportunity to lift interest rates at the June 28-29 meeting, the FOMC now has to be concerned tha ...

By Christopher Swann in WashingtonPublished: June 2 2006 14:04 | Last updated: June 2 2006 14:10The US economy generated just 75,000 jobs in May, breaking a long stream of strong employment growth and reducing the chances of an interest rate increase this month. // Official data from the US labour department, released on Friday, also showed the official unemployment rate falling to 4.6 per cent. The disappointing figure for May, showing the slowest employment growth in seven months, was accomp ...

This is Money2 June 2006 THE cost of borrowing is not expected to rise until at least March next year, according to a poll of economists. WANT TO KNOW MORE? DEAL FINDER: Best mortgage rates DEAL FINDER: Best credit card rates DEAL FINDER: Best loans rates DEAL FINDER: Best savings rates TABLES: Best savings rates TABLES: Best Cash mini Isas TABLES: British economic data POLL: What do you ...