November 20, 2025
United States:
US Employers Added 119,000 Jobs in September, Unemployment Rose
US job growth picked up in September, and the unemployment rate ticked higher, suggesting the labor market showed signs of stabilizing before the government shutdown.
Nonfarm payrolls increased 119,000 after declining in the prior month, according to Bureau of Labor Statistics data out Thursday. The unemployment rate ticked up to 4.4%.
Europe:
Germany on Track for Growth in Fourth Quarter, Bundesbank Says
Germany’s economy may return to growth in the final three months of the year as the volatility created by US tariffs subsides, according to the Bundesbank.
After an export surge at the start of 2025 that turned into a drag in the following months, exports and industry are likely to “stabilize in the fourth quarter,” the German central bank said in its monthly report on Wednesday. The services sector should also support activity, “although not necessarily from consumer-related sectors,” it said. That could result in overall output “increasing slightly,” the Bundesbank said.
Asia:
Japan Is Set to Unveil Largest Spending Plan Since Pandemic Era
Japan’s pro-stimulus Prime Minister Sanae Takaichi is set to unveil the largest spending plan since the pandemic era, in a move that adds to her reputation for expansive fiscal policy while putting bond vigilantes on notice.
Her stimulus package will include ¥17.7 trillion ($112 billion) of spending through what will essentially be the extra budget, according to documents seen by Bloomberg Thursday.
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