China’s economic recovery tested as coronavirus outbreaks persist - BusinessMirror

Jobs figures are gaining increasing attention as top leaders downplay the country’s GDP growth target of “around 5.5 percent,” in favor of attaching greater significance to stability in employment and prices.

China’s unemployment rate likely remained heightened in July, with economists expecting the surveyed jobless rate to stay unchanged at 5.5 percent. That’s theInvestors should also be looking under the hood for signs of any improvement in the jobs rates for the most vulnerable groups. Summer months usually see a seasonal spike in unemployment as graduates enter the job market.

The pressure is especially great this year with the number of students graduating hitting a record 10.76 million. The frequent Covid outbreaks also bode ill for migrant workers, as authorities might shut down construction sites and restaurants once there’s a flareup.The People’s Bank of China will have an opportunity to drain funds from the banking system through policy loan operations on Monday, which would help rein in risks created by excessive liquidity.

Eight out of 12 analysts polled by Bloomberg forecast the PBOC will roll over only part of the 600 billion yuan of maturing one-year medium-term lending facility, with the median estimate at 400 billion yuan. That would be the first monthly drainage since December 2021. The interest rate for the MLF will likely remain unchanged at 2.85 percent, according to the consensus estimate, as rising inflation risksin the market for the past few months, and has struggled to turn into loans that benefit the real economy. Seven-day interbank borrowing costs have slumped to a two-year low and are far below the short-term policy rate.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How minimum wages compared across regions in July - BusinessWorld OnlineThis infographic compares the current daily minimum wages set by the country’s Regional Tripartite Wages and Productivity Board and the inflation-adjusted minimum wages as of July based on latest preliminary data by the Philippine Statistics Authority (PSA).
Source: bworldph - 🏆 9. / 68 Read more »

Peso climbs vs dollar on slower US CPI in July, stock index’s rise - BusinessWorld OnlineTHE PESO rebounded versus the greenback on Thursday on slower-than-expected US inflation and as the local stock market posted gains. READ:
Source: bworldph - 🏆 9. / 68 Read more »

Obiena heads list of July honor roll - BusinessMirrorTHE Philippines celebrated amazing achievements in various sporting fronts in the jolly month of July. Pole vault ace Ernest John “EJ” Obiena, the women’s football team Filipinas, karate stalwart Junna Tsukii and new professional world boxing champ Dave “The Doberman” Apolinario took turns bringing honors to the country to earn the nod of the Philippine
Source: BusinessMirror - 🏆 19. / 59 Read more »

Unregistered drugs during health emergencies - BusinessWorld OnlineAs the coronavirus (COVID-19) pandemic continues to impact the daily lives of Filipinos, threats of other highly infectious diseases spreading to the Philippines loom on the horizon. The threat seemed imminent when the Department of Health (DoH) confirmed the first case of monkeypox in the country in July.
Source: bworldph - 🏆 9. / 68 Read more »

India clarifies: No plans to restrict sale of budget China smartphones
Source: GIZGUIDEPH - 🏆 17. / 59 Read more »

South Korea says missile shield ‘not negotiable’ with China - BusinessMirrorSouth Korea said the possible operation of a controversial American-made missile shield was “not negotiable,” pushing back at China’s efforts to hold President Yoon Suk Yeol to his predecessor’s policy to freeze its deployment. Decisions on the deployment of Lockheed Martin Corp.’s Terminal High-Altitude Area Defense (Thaad) system was a matter of South Korea’s self-defense,
Source: BusinessMirror - 🏆 19. / 59 Read more »