Group 1 - The core viewpoint of the articles highlights a significant decline in U.S. consumer confidence, reaching its lowest level in over three years due to economic uncertainties stemming from government shutdowns and persistent high prices affecting household finances [1][2] - The University of Michigan's preliminary consumer confidence index dropped from 53.6 in October to 50.3 in November, marking a new low since June 2022 and falling short of most economists' expectations [1] - The index measuring current economic conditions fell by 6.3 points to 52.3, the lowest recorded level, indicating rising public concern over the potential impact of government shutdowns on economic activity [1] Group 2 - A continuous increase in the number of consumers reporting rising living costs and high prices has been observed for five consecutive months, underscoring the ongoing inflationary pressures on household spending [1] - Long-term inflation expectations have eased slightly, with consumers anticipating an average inflation rate of 3.6% over the next 5 to 10 years, which is the lowest in three months; however, short-term inflation expectations have risen slightly [1] - In November, 71% of consumers expect the unemployment rate to rise in the next year, double the proportion from a year ago, reflecting heightened concerns about job security [2] Group 3 - The index reflecting personal financial conditions has dropped to its lowest level in six years, while the purchasing conditions for commodities have worsened to the worst level since mid-2022 [1] - The index measuring future expectations has fallen to 49, a six-month low, indicating a pessimistic outlook among consumers regarding the economy [2] - The ongoing government shutdown is causing delays in the release of key economic data, leading to a lack of clarity about the true state of the economy, making consumer confidence surveys a limited reference point [2]

Group 1 - The Canadian labor market showed strong performance in October, with a net addition of 66,000 jobs and a decrease in the unemployment rate from 7.1% to 6.9%, marking the second consecutive month of improvement [1][2] - The job growth significantly exceeded market expectations, which anticipated a loss of 20,000 jobs and an increase in the unemployment rate to 7.2% [1] - The increase in employment was primarily driven by part-time positions, while full-time jobs remained relatively unchanged. The private sector added 73,000 jobs, indicating a recovery in hiring intentions among businesses [1] Group 2 - Job growth was predominantly concentrated in Ontario, which accounted for 55,000 of the new positions, representing over 80% of the national job increase [2] - Average hourly wages rose by 3.5% year-on-year to CAD 37.06, although the growth rate is still below the peak wage increases seen during inflationary periods [2] - The Canadian job market has experienced significant volatility this year, with a total of 127,000 jobs added in September and October, offsetting a loss of 106,000 jobs in July and August [2]

Group 1 - The unemployment rate in Canada decreased to 6.9% in October, which is lower than the market expectation of 7.1% [1]

Group 1 - The U.S. federal government shutdown has led to a pause in the release of official inflation data, raising concerns among some Federal Reserve officials regarding future monetary policy direction [1] - Chicago Fed President Goolsbee expressed unease about continuing interest rate cuts due to the lack of key price data, stating that the Fed has less clarity on price trends compared to employment indicators during the government shutdown [1] - Goolsbee emphasized the need for caution among policymakers in the face of data shortages and reduced economic visibility, suggesting that they should slow down their decision-making process [1] Group 2 - Despite the temporary interruption of official labor data, a real-time unemployment rate indicator based on private sector data from the Chicago Fed shows an October unemployment rate of approximately 4.36%, nearly unchanged from August's 4.35%, indicating that the labor market has not deteriorated further [2] - As the gap in inflation data widens and internal disagreements among officials increase, the market is beginning to bet that the Federal Reserve may slow down the pace of interest rate cuts, particularly ahead of the next rate decision in December [2] - Goolsbee's recent comments indicate a strengthening of hawkish voices within the Federal Reserve, contrasting with the dovish perspective that has recently advocated for continued policy easing to support employment [2]

Core Insights - Chicago Fed President Goolsbee expressed concerns about the lack of inflation data during the government shutdown, which may hinder the ability to assess price trends accurately [1] - The unemployment rate in the U.S. is projected to rise slightly to 4.4% in October, marking a potential four-year high, due to a decrease in employment rates among the unemployed and an increase in layoffs [1][2] - Goolsbee noted that while the unemployment and layoff rates are objectively low, there are signs of a slight cooling in the labor market, indicating a gradual rather than sharp slowdown [2] Inflation Concerns - The September inflation rate remains high at 3%, significantly above the Federal Reserve's target of 2%, raising concerns among officials about the timeline for inflation returning to target levels [2] - Core service inflation has increased, with core service prices rising 3.5% year-over-year in September, indicating persistent price pressures even in sectors not directly affected by tariffs [2] Interest Rate Outlook - Goolsbee does not hold a hawkish view on interest rates in the medium term, suggesting that the "stable point" for rates may be significantly lower than current levels, indicating a potential for future rate decreases [2]

Core Insights - The unemployment rate in the Philippines decreased to 3.8% in September, marking a 0.1 percentage point decline from August, and representing the second consecutive month of decline [1] - The number of unemployed individuals fell to 1.96 million, a reduction of 70,000 from August [1] - The labor force participation rate dropped to 64.5%, down from 65.1% in August and 65.7% year-on-year, indicating a weakening in labor market activity [1] Employment Sector Analysis - The services sector remains the largest employer in the Philippines, with 30.4 million jobs, accounting for 61.3% of total employment [1] - Agriculture and industry represent 20.9% and 17.8% of total employment, respectively [1] - Notable year-on-year employment growth was observed in construction, fisheries, aquaculture, and accommodation and food services [1] - Month-on-month, significant employment increases were seen in education, agriculture and forestry, as well as mining and quarrying [1] Employment Quality - The underemployment rate in the Philippines rose to 11.1% in September, an increase of 0.4 percentage points from August, indicating that workers are seeking more hours or better job opportunities [1] - The youth unemployment rate for individuals aged 15 to 24 slightly decreased to 11.6%, down 0.1 percentage points from August, suggesting continued improvement in employment conditions for the youth demographic [2]

Core Insights - The adjusted unemployment rate in Switzerland for October is reported at 3%, aligning with market expectations of 3% [1]

Core Insights - New Zealand's unemployment rate for the third quarter stands at 5.3%, matching expectations but showing an increase from the previous value of 5.2% [1] Group 1 - The unemployment rate in New Zealand is reported at 5.3% for Q3 [1] - The expected unemployment rate was 5.30%, indicating that the actual figure met market expectations [1] - The previous unemployment rate was 5.20%, showing a slight increase of 0.1 percentage points [1]

Core Viewpoint - The Reserve Bank of Australia (RBA) is likely to maintain the cash rate at 3.60% during its upcoming meeting, with no further rate cuts anticipated before next year due to concerning economic data [1] Group 1: Economic Indicators - Recent inflation data for Q3 has diminished market expectations for a rate cut in the upcoming meeting, with some analysts ruling out the possibility of further cuts [1] - Core inflation has returned to the upper limit of the target range of 2% to 3% [1] - National housing prices have increased at the fastest rate in over two years as of October [1] Group 2: Employment Situation - There has been a significant rise in the unemployment rate, complicating the economic outlook [1] - Despite the rising unemployment, the weakness in the job market is currently considered a secondary issue [1]

Core Insights - The unemployment rate in Chile for Q3 2025 is reported at 8.5%, a decrease of 0.2 percentage points over the past twelve months [1] - Chile has created 170,000 formal jobs in the last year, representing a year-on-year growth of 2.5%, the highest level since March of the previous year [1] - The number of informal jobs has decreased by 34,000, while the unemployment rate has dropped by 1.3%, leading to an employment rate of 56.6% [1]