ADP Report Shows US Lost 693,000 Jobs in December
Companies in the US are shedding workers at an increasing rate with 693,000 positions eliminated in December according to the privately-produced ADP Employer Services report. The Labor Department will release official Non-Farm Payroll and Unemployment Rate reports on Friday. More
Germany Records First Increase in Unemployment in Three Years
For the first time in nearly three years, unemployment in Germany is on the increase. Unemployment for the month of December rose by 18,000 – considerably more than the 10,000 expected by industry watchers. More
UK Chancellor Admits Recession “Far from through”
In an interview published in the Financial Times, Alistair Darling – Chancellor for the Bank of England – notes that the Treasury’s assessment of the economy issued last November was overly optimistic and may be revised when the spring budget is formed. More
US Dollar Falls on Weak Employment Numbers
With analysts predicting a dreadful result for December employment reports due on Friday, the buck fell from its three-week high against the euro. More
