How to Start the Week: Analytics and Forecasts — 12.04.2021


Jobs whiplash may be supplying false hope in employment numbers.

 

Must know

Singapore has an impending power vacuum with the chosen successor abdicating his seat. The pandemic has pushed Singapore, which thrives on open trade and finance, into its worst recession even though it has managed to virtually eliminate the virus with border controls and contact-tracing. The country was already facing an aging population, rising protectionism, and the need to reshape the economy to focus on technology.


US President Joe Biden released his first budget proposal to Congress on Friday, offering a long-awaited glimpse into his policy agenda. Known as a “skinny” budget, Biden’s proposal on Friday provided only cursory figures on programs and departments where Congress has the flexibility to decide what it wants to spend for the fiscal year starting in October.


Canada added 303,100 jobs in March, easily beating expectations, and the unemployment rate fell to 7.5%, its lowest point since the beginning of the pandemic, Statistics Canada data showed on Friday. Many of those new jobs have already been lost due to third-wave lockdown restrictions imposed after a brief relaxing of limitations lead to a hiring spike in the service industry.


German exports rose in February, boosted by surging trade with China in a fresh sign that factories are busy in Europe’s largest economy despite an expected pandemic-related drop in overall output in the first quarter. German manufacturing has been buoyed by foreign and domestic orders giving hope to the eurozone’s most robust economy.


European Central Bank board member Isabel Schnabel has warned against attempts to block the European Union’s Recovery Fund, saying such a step would be an “economic disaster for Europe.” The fact that the fund and national aid programs will lead to significantly growing national debt levels was not a problem provided the spending boosted sustainable economic growth, Schnabel told German magazine Der Spiegel.

 

Fundamental breakdown

Boeing

Boeing on Friday asked some engineers of its 737 MAX jet to fix a potential production issue related to an electrical power system in the aircraft, prompting Southwest Airlines to remove 30 MAX jets from its schedule.

Facebook

According to a study by University of Southern California researchers, in one of three examples that generated similar results, Facebook targeted an Instacart delivery job ad to a female-heavy audience and a Domino’s Pizza delivery job ad to a male-heavy viewership.

Amazon

Roughly 500 ballots submitted in Amazon.com Inc’s landmark union election have been challenged in a contest that will determine whether an Alabama warehouse becomes the online retailer’s first organized workplace in the United States.

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