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Well as we've heard jobs growth ground to a halt in the United States last month according to the latest unemployment figures, the US economy generated a paltry1 18,000 jobs in June, much lower than expected. The fall in new jobs pushed the overall unemployment rate at 9.2 per cent with employers hiring the fewest number of workers in nine months. The data is dampening hopes the economy was on the cusp of regaining2 momentum3.
It hasn't been announced yet, but the Gillard Government's carbon tax plan is all but certain to pass through Parliament. Independent MP Andrew Wilkie has announced he will support the tax when the legislation eventually hits Parliament.
The Reserve Bank assistant governor Guy Debelle says Australia's account deficits4 are no cause for alarm. Australia's account deficits stood at 10.5 billion dollars at the end of the first quarter, prompting some investors5 and bankers to raise concern. But Mr Debelle says Australia's banks aren't funding the current account.
To the market numbers, mining stocks led the gains on the local share market. The All Ordinaries and the ASX 200 both ended the week higher. In the US, stocks plummeted6 in the wake of that poor jobs data but they did manage to recover, most of those losses by the close. And the Australian dollar is currently hovering7 around 108 US cents.
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1 paltry | |
adj.无价值的,微不足道的 | |
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2 regaining | |
复得( regain的现在分词 ); 赢回; 重回; 复至某地 | |
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3 momentum | |
n.动力,冲力,势头;动量 | |
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4 deficits | |
n.不足额( deficit的名词复数 );赤字;亏空;亏损 | |
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5 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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6 plummeted | |
v.垂直落下,骤然跌落( plummet的过去式和过去分词 ) | |
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7 hovering | |
鸟( hover的现在分词 ); 靠近(某事物); (人)徘徊; 犹豫 | |
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