Labour
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power
More older people and women joining labour force, RBNZ paper finds
New Zealand’s labour force participation has grown since 2000 and reached an all-time high in 2017
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
Fehmi Mehmeti confirmed as Bank of Kosovo governor
Parliament narrowly votes to approve the interim governor for the full-time role
Denmark is entering a boom – central bank
The Nordic country is benefiting from the growth in export markets, including the US and eurozone
Higher inflation in the US pushes up yields
The headline consumer price index rose by 2.1% year on year
World does not have to be ‘hostage’ to technology – Wilkins
Finding a way to control the market power of tech giants will be important, the Bank of Canada deputy says
Menon warns of Singapore's ‘demographic trilemma’
MAS chief says Singapore “must accept” slower growth of the labour force, but should also face up to the need for solutions
New US tax plan promising for growth – Fed minutes
FOMC members revise the growth outlook upwards for next 12 months, as tax cuts promise to provide “some boost” to consumer spending
Demographic changes reduce US labour participation rate
As the baby boomer generation retires, the recovery cannot offset their absence
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed
Chicago Fed’s Evans sees little risk of inflation surge
Study by the Chicago Fed finds little evidence there could be a threshold in unemployment beyond which inflation may surge
Momentum towards inflation target is strengthening, says BoJ board member
Rising household income and productivity are positive signs, Takako Masai says
Wage growth may be stronger than headline figures suggest
San Francisco Fed researchers point to evidence that headline figures may overstate wage weakness; UK figures provide a positive surprise
Goodhart and Pradhan: demographics will reverse ‘multi-decade’ trends
Ageing population is likely to put upward pressure on real interest rates and inflation, and push down inequality, economists say
IMF research flags technology’s role in falling labour share of income
Automating routine tasks is cheaper for companies, which reduces jobs for middle-skilled workers and contributes to higher inequality in advanced economies, paper finds
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
BoE’s Haldane examines changing nature of work
Rise of “gig economy” and self-employment may have weakened wage-setting power among workers, the BoE chief economist says; he indicates a willingness to vote for a hike later this year
Wage growth remains a concern for Australia – Lowe
Governor warns low wage growth is hindering household consumption; there are some signs the labour market is recovering, with employment growth registering stronger in recent months
Inflation is preventing interest rates from rising faster, says Powell
Labour market progress points towards a faster pace of normalisation for the Fed, but below-target inflation is preventing rates from rising above the current “gradual pace”
Bank of England threatened with strike action over pay
Union members to be balloted on strike after being awarded a “derisory” 1% pay rise; UK inflation currently running at 2.7% and forecast to rise further
Sterling depreciation will increase pace of tightening, BoE says
Inflation will overshoot target for longer period, reveals latest Inflation Report, but raising rates will not help, BoE says; “extraordinary circumstances” call for delicate balancing act
BoJ paper sketches ‘vicious circle’ behind productivity traps
“Lacklustre” economic reforms and firms’ unwillingness to innovate may create a “negatively reinforcing” loop, the authors warn