US job growth exceeds forecasts, may delay Fed interest-rate cut; global economy faces challenges.

Fresh US jobs figures suggest the Federal Reserve may delay an interest-rate cut, with job growth exceeding forecasts in June. Meanwhile, Asia’s manufacturing slowdown deepens, and Euro-area inflation settles at the ECB’s target. In the UK, economic growth increases before tax hikes hit, while Swedish retail sales plunge, pressuring the central bank.

In the US, an unusual surge in public education employment masks a slowdown in hiring in other sectors, with private payrolls rising the least since October. Unsold houses are piling up in Sun Belt areas, as homeowners flee soaring insurance costs and investors cull rental properties. Euro-area inflation remains steady, supporting a pause on interest-rate cuts.

Japan sees the largest pay increase in 34 years following annual wage negotiations, signaling a potential cycle of higher wages and prices. President Trump discusses keeping tariffs on Japan’s cars, as trade talks continue. In emerging markets, cargo thefts in Mexico exceed 24,000 in 2024, making it the worst in the world in loss-ratio terms.

Poland’s central bank unexpectedly cuts interest rates, anticipating easing inflation. Tanzania cuts rates, while Ethiopia and the Bank of Central African States hold borrowing costs steady. The global economy faces challenges as trade tensions persist and growth prospects dim in key regions.

Read more at Yahoo Finance: US Jobs Data Eases Pressure on Fed