MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI BRIEF: Aussie Unemployment Rises To 4.1% In April

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1020 Thurs; -3.70% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

Inflation Expectations Remain Well Anchored

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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US Has Seen "Pretty Consistent" Progress on Wage Growth

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  • Q: One thing that hasn't normalized in the labor market is wage growth - is that a lagging indicator or something else?
    • A: Wage increases peaked a couple of years ago - they've come down but not to where they were before the pandemic, they're roughly a percentage point higher. We've seen pretty consistent progress, but not uniformly: the ECI reading from Tuesday was expected to have come down and essentially it was flat Y/Y I think, roughly. So that part of it is bumpy.
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  • Q: One thing that hasn't normalized in the labor market is wage growth - is that a lagging indicator or something else?
    • A: Wage increases peaked a couple of years ago - they've come down but not to where they were before the pandemic, they're roughly a percentage point higher. We've seen pretty consistent progress, but not uniformly: the ECI reading from Tuesday was expected to have come down and essentially it was flat Y/Y I think, roughly. So that part of it is bumpy.