JOLTS数据较BLS的月度就业报告滞后一个月。作为对照，BLS此前公布的就业形势报告显示，美国11 月新增非农就业岗位6.4万个，增速已明显放缓。 从供需关系来看，职位空缺与失业人数之比是衡量劳动力市场紧张程度的重要指标。11月，美国失业人 口约为783.1万人，职位空缺为714.6万个，意味着每名失业者仅对应0.91个岗位，不仅显著低于疫情前 水平，也创下自2021年3月以来最低值，显示劳动力需求正在降温。 美国劳动力市场再现降温信号。 智通财经APP获悉，根据最新公布的职位空缺与劳动力流动调查(JOLTS)数据，11月职位空缺数意外连 续第二个月下降，降至714.6万个，不仅低于10月水平，也显著不及市场预期的761万个，创下自2024年 9月以来最低水平。 美国美国劳工统计局(BLS)在新闻稿中指出，11月职位空缺总量变化不大，仍约为710万个；当月招聘人 数与人员离职总数均基本持平，均为510万人。在离职结构中，主动辞职人数约为320万人，裁员及解雇 人数约为170万人，整体波动有限。 JOLTS报告是BLS每月发布的重要劳动力调查，涵盖职位空缺、招聘、辞职以及裁员与解雇等指标。与 反映劳动力供给的 ...

Core Insights - Foreign direct investment (FDI) in Bosnia and Herzegovina (BiH) decreased to approximately 780 million marks in the first half of this year, down from 891 million marks in the same period last year, representing a decline of 111 million marks [1] - The top investing countries in BiH for the first half of 2025 were Croatia (203 million marks), Germany (174 million marks), and Serbia (108 million marks) [1] - The primary sectors attracting foreign investment were financial services (503.8 million marks), followed by retail trade (219.8 million marks) and wholesale trade (205 million marks) [1] Investment Trends - The trend of declining foreign investment is not unique to BiH, as other countries in the Western Balkans are experiencing similar challenges [1] - The reduction in investment is attributed to economic stagnation or decline in major EU economies, which are the primary investors in the Western Balkans, and a shift of capital towards more competitive production cost destinations outside Europe [1] - The impact of declining foreign investment on BiH's economic growth is relatively minor, as the country had previously attracted a limited amount of FDI compared to countries like Serbia [1] Future Recommendations - It is essential for BiH to align its foreign investment policies with economic structural transformation to attract investments that provide higher added value, create quality jobs, and enhance economic competitiveness [2] - Investment in vocational education is crucial, as skilled labor is a key factor in attracting investors from technologically advanced sectors [2]

Group 1 - The core viewpoint of the article indicates that Singapore's labor market is performing better than expected, supported by continuous economic growth, with an increase in total employment and stable low unemployment and layoff rates [1][2]. Group 2 - In Q3 2025, total employment (excluding foreign domestic workers) increased by 24,800, significantly higher than the 10,400 increase in Q2 and the 22,300 increase in the same period last year, driven by both resident and non-resident employment [1]. - Resident employment growth is mixed, with strong increases in financial services and health and social services, while sectors like information and communication, professional services, and wholesale trade show weak performance, particularly with a significant decline in wholesale trade employment [1]. - The overall unemployment rate remained stable at 2.0% in September, with resident unemployment at 2.8% and citizen unemployment at 3.0%, all consistent with the previous quarter and within normal ranges for non-recession periods [1]. - The number of layoffs in Q3 remained stable at 3,500, with a layoff rate of 1.4 per 1,000 employees, similar to the previous quarter's figures, primarily due to business restructuring or structural adjustments [1]. Group 3 - Looking ahead to Q4 2025, recruitment sentiment has slightly improved, with 44.1% of surveyed companies indicating a willingness to hire, which is a slight increase from the previous quarter [2]. - However, the proportion of companies planning to increase salaries has decreased slightly to 19.3%, indicating that wage growth is expected to slow down due to cost pressures, and some outward-facing industries may see an increase in layoffs [2].

Core Insights - Singapore's digital economy is experiencing robust growth, projected to reach SGD 128.1 billion in 2024, accounting for 18.6% of GDP, up from 14.9% in 2019 [2] - The growth is driven by advancements in the information and communication sector and the digital transformation of traditional industries, particularly finance, trade, and manufacturing [2] Group 1: Digital Economy Growth - The digital economy's value is significantly contributed by the finance and insurance sector, which is reshaping its ecosystem through innovations like smart risk control and blockchain [2] - Wholesale trade and manufacturing are also leveraging IoT and big data analytics to enhance supply chain efficiency and production [2] Group 2: SME Digitalization - In 2024, 95.1% of SMEs in Singapore adopted at least one digital technology, an increase from 94.5% in 2023, with the average number of technologies used rising from 2 to 2.3 [3] - The government has supported over 90,000 SMEs in their digital transformation, resulting in an average cost reduction of 50% [3] Group 3: AI Adoption - AI usage among SMEs surged from 4.2% in 2023 to 14.5% in 2024, while non-SMEs increased from 44% to 62.5% [3] - 84% of enterprises are utilizing generative AI tools for content creation and customer service, with specific AI solutions in fields like medical imaging and intelligent customer service reaching a 52% application rate [3] Group 4: Workforce Impact - 73.8% of employees in Singapore use AI tools in their daily work, with some job efficiencies improving by over 30% [4] - The digital economy is expected to create 214,000 jobs in 2024, with significant growth in AI, data science, and cybersecurity roles [4] Group 5: Skills Demand - Demand for programming languages like Python and SQL in job postings increased by 25%, while traditional web development skills saw a 9% decline [5] - Educational institutions are adapting their curricula to include AI ethics and quantum computing, addressing the evolving skills gap [5] Group 6: Future Directions - Singapore plans to deepen its "Smart Nation 2.0" strategy, focusing on enhancing digital infrastructure resilience, expanding cross-border digital cooperation, and fostering an AI safety ecosystem [6] - The government aims to invest SGD 5 billion over the next five years to support research and innovation in strategic fields like quantum computing and biomedical engineering [6]

Core Insights - The economic trend indicator in Sweden rose again in September, indicating a sentiment slightly below normal levels [1] - The consumer confidence index increased for the fifth consecutive month, reflecting improved expectations for personal economic conditions and the overall Swedish economy [1] Group 1: Consumer Confidence - The rise in the consumer confidence index is primarily due to improved expectations regarding personal economic conditions and the outlook for the Swedish economy over the next twelve months [1] - Despite the increase, the consumer confidence index still indicates a level of sentiment that is weak [1] Group 2: Business Sector Confidence - The business sector's expectations for sales prices over the next three months remained stable compared to August and are close to historical averages [1] - The manufacturing confidence index has risen, indicating sentiment at normal levels, although production plans for the next three months are less optimistic than usual [1] - The construction confidence index slightly declined, showing sentiment below normal levels, with over 60% of firms citing insufficient demand as a barrier to growth [1] Group 3: Trade and Services Confidence - The trade confidence index continues to rise, indicating the strongest sentiment in the business sector, although the food retail confidence index has decreased but remains above normal levels [1] - Confidence in automotive trade, wholesale trade, and non-food retail trade is hovering around historical averages [1] - The services confidence index has slightly decreased but still indicates sentiment at normal levels, with ongoing dissatisfaction regarding business volume among firms [1]

Core Insights - The number of initial jobless claims in the U.S. saw a significant decline last week, marking the largest drop in nearly four years, which contrasts with the previous week's unusual spike and aligns with lower layoff levels in the economy [1] - The total number of continuing claims for unemployment benefits remains above the critical threshold of 1.9 million, indicating ongoing challenges in the labor market despite the recent decline in initial claims [1] Group 1 - Initial jobless claims decreased by 33,000 to 231,000 for the week ending September 13, which is consistent with levels seen earlier this year and close to pre-pandemic trends [1] - The previous week's surge in initial claims was attributed to volatility around Labor Day and was particularly pronounced in Texas, where officials linked it to fraudulent attempts [1] - The overall decline in initial claims suggests that companies are still retaining employees despite an uncertain economic environment, although signs of labor market weakness persist [1] Group 2 - The four-week moving average of initial jobless claims remained relatively stable at 240,000, indicating minimal change in the underlying trend [2] - The unadjusted initial jobless claims also fell by over 10,000 last week, with Texas accounting for about half of this decline, alongside significant decreases in Connecticut and Michigan [2] - The report challenges theories regarding a sudden surge in layoffs and diminishes calls for more aggressive interest rate cuts from the Federal Reserve [2]

Core Insights - The trade war initiated by Donald Trump has led to significant job losses in industries affected by tariffs, with a net reduction of 90,100 jobs since February [2][4] - The overall employment growth in the U.S. has been positive, with an increase of 385,000 jobs during the same period, driven mainly by sectors less impacted by tariffs, such as healthcare and hospitality [4] - The unemployment rate has slightly increased to 4.3%, marking a four-year high [2] Industry Impact - Industries directly affected by tariffs include manufacturing, mining and logging, construction, wholesale trade, retail trade, transportation, and warehousing [3] - Manufacturing has seen a loss of 41,000 jobs, while wholesale trade has lost 34,000 jobs [4] - In contrast, retail trade has added 19,000 jobs, and construction employment has remained stable [4] Economic Outlook - Despite job losses in tariff-impacted sectors, there are layoffs in other industries due to overall economic uncertainty stemming from the trade war [5] - Moody's Analytics warns that the current trend of more layoffs than new jobs typically occurs during economic recessions [5] - The Trump administration claims that tax cuts and deregulation will stimulate economic growth and ultimately create more jobs [5]

Group 1: Labor Market Overview - The unemployment rate in the U.S. rose to 4.3% in August, marking a new high in nearly four years, which is significantly above market expectations [1] - Non-farm payrolls increased by only 22,000 in August, a sharp decline from the revised 79,000 in July, and well below economists' expectations of 75,000 [1] - The number of permanent job losses increased to 1.915 million in July, indicating a shift from temporary layoffs to long-term structural reductions [3] Group 2: Sector Performance - Job growth in August was primarily driven by the healthcare sector, which added 31,000 jobs, although this is below the average monthly increase of 42,000 over the past year [3] - Manufacturing experienced job losses for the fourth consecutive month, shedding 24,000 jobs, largely due to tariff impacts and supply chain restructuring [3] - Federal government employment decreased by 15,000 in August, with a total reduction of 97,000 jobs since January [3] Group 3: Economic Implications - The weak labor market has raised concerns about the economic outlook, with some economists suggesting that the economy is sliding towards recession [1][4] - The average hourly wage for non-farm employees rose to $36.53 in August, a 0.3% month-over-month increase and a 3.7% year-over-year increase, although reduced working hours have raised concerns about economic growth [7] - The Federal Reserve is expected to lower interest rates in response to the weak employment data, with a potential 25 basis point cut anticipated in the upcoming policy meeting [7] Group 4: Political and Structural Factors - Political factors have influenced economic data, with President Trump dismissing the head of the Bureau of Labor Statistics over alleged manipulation of employment data [4] - Young graduates face a high unemployment rate of 6.6%, the highest in a decade, indicating that entry-level positions now often require several years of experience [5] - The OECD has downgraded the U.S. economic growth forecast for 2025 to 1.6%, warning that tariffs could push the unemployment rate above 4.4% by early 2026 [11]

Group 1 - The core point of the article highlights the significant underperformance of the August non-farm payroll data, which recorded only 22,000 new jobs compared to the expected 75,000, raising concerns about the economic outlook [1][4] - The release of this data is particularly notable as it is the first non-farm report published after the dismissal of the previous Bureau of Labor Statistics director by the Trump administration, which has led to skepticism regarding data reliability [2] - The August data shows a decline of 15,000 federal government jobs, while the private sector added 38,000 jobs, indicating a mixed employment landscape that contrasts with Trump's manufacturing policy goals [4] Group 2 - The weak employment data has intensified fears of an economic recession, leading to a surge in expectations for interest rate cuts by the Federal Reserve, with a 98% probability of a 25 basis point cut in mid-September [4] - Following the release of the non-farm data, Trump criticized Federal Reserve Chair Powell for not acting sooner on interest rate cuts, indicating a shift towards a more accommodative monetary policy [6] - The broad money supply (M2) in the U.S. has also been increasing, surpassing $22 trillion in June 2025, suggesting a dual easing environment that could stimulate economic activity [6][7] Group 3 - Investors are facing challenges to the traditional "cash is king" belief, as inflation may erode the purchasing power of cash holders, while those with ample funds may find opportunities to convert cash into appreciating assets [8] - The current monetary easing cycle is accompanied by risks of asset price bubbles, necessitating a careful balance between opportunities and risks for investors [9] - Market participants are closely monitoring the Federal Reserve's upcoming September meeting for potential interest rate cuts and the implications of subsequent economic data [11]

Core Insights - Chile's Industrial Production Index (IPI) showed a modest increase of only 1% in July, marking the worst performance since February's decline of 3.7% [1] - Mining production decreased by 0.9%, while electricity, gas, and water production increased by 0.9%, and manufacturing rose by 2.7% [1] Trade Performance - Chile's trade growth remained strong, with a monthly increase of 6.5% in July and a cumulative growth of 4.9% from January to July [1] - Wholesale trade (excluding automobiles and motorcycles) grew by 7.6%, while retail trade (excluding automobiles) increased by 5.8% [1] - Automobile and motorcycle trade saw a growth of 4.9%, and the supermarket sales index (ISUP) rose by 2.8%, with a cumulative growth of 1.7% from January to July [1] - The retail e-commerce index (ICEM) experienced significant growth, with a monthly increase of 14.7% in July and a cumulative growth of 13.1% from January to July, driven mainly by transactions in home electronics and technology products [1]