US jobs data beats expectations for second straight month
US payrolls came in stronger than analysts forecast for the second month in a row, even as gasoline prices climbed and the Iran war fed economic uncertainty. The figures reignited debate over the Federal Reserve's path to lower interest rates.
According to the BBC, the US labour market once again outpaced analyst forecasts, the second strong reading in two months. Non-farm payroll growth came in above estimates, while the unemployment rate stayed close to its recent low.
The strength held up despite climbing gasoline prices and the global market jitters triggered by the Iran war. Continued resilience in consumer demand was reflected in solid services-sector hiring, supported in part by gains in health care and government roles.
The firm data reopened the debate over the Federal Reserve's path on interest rates. Some investors argue the economy can absorb tight monetary policy for longer, while others point to sticky wage growth as a reason the Fed has less room to ease. Treasury yields rose on the report and the dollar firmed against major currencies.
More from Europe
Turkish foreign minister Fidan holds phone call with Iranian counterpart Araghchi
Turkish Foreign Minister Hakan Fidan held a phone call with his Iranian counterpart Abbas Araghchi. The two diplomats discussed regional developments and the ongoing tensions around the Strait of Hormuz.
CBRT April Inflation Assessment: Annual inflation rises to 32.37 percent
The Turkish Central Bank released its April inflation assessment, showing consumer prices rose 4.18 percent month-on-month, while annual inflation climbed to 32.37 percent—up 1.50 percentage points. Energy prices surged 14.4 percent, with the underlying trend moving higher.
Airlines can cancel flights in advance over fuel shortages under new plans
Under new UK government plans, airlines can cancel flights in advance due to fuel shortages rather than wait until the last minute. This allows passengers time to rebook and make alternative arrangements.