US Employment Growth Slows Down Amidst Rising Global Price Pressures

The US economy saw a slowdown in employment growth in September, adding only 29,000 jobs and experiencing a significant deceleration in wage increases. This is according to data from the Bureau of Labor Statistics. The sluggish growth suggests that high costs are keeping employers cautious.

Across the globe, price pressures continue to mount, with energy costs being a major driver. Inflation in the euro area accelerated to a three-year peak, bolstering expectations that the European Central Bank will raise interest rates further. Core inflation rose to 2.5%, excluding volatile items like energy.

Meanwhile, China's industrial enterprises saw their earnings grow at the weakest pace since November last year, highlighting the limits of a recovery driven by elevated oil costs and sectors linked to artificial intelligence.