Us companies added the most jobs in nearly a year in May, a sign that companies are making progress in filling record job openings as the economy strengthens. Private sector employment rose by 978000 in May, the highest since June 2020, reflecting a sharp increase in employment in the leisure and hotel sectors, according to data released by ADP Research Institute on Thursday. Economists surveyed by Bloomberg had a median forecast of 650000 people for the May data. The April figure was revised down to 654000.

The US service sector grew at its fastest pace on record in May, underscoring the rapid improvement in business activity. Data released on Thursday showed that the Institute of supply Management's (ISM) services index rose to 64 from 62.7 in April, the highest level since the index began in 1997 and better than the median estimate of economists surveyed by Bloomberg. An index above 50 indicates an increase in activity. The report reflects a pick-up in social activities and a pick-up in demand for services such as air travel, hotel accommodation and dining out after the relaxation of epidemic prevention restrictions. The release of pent-up consumer demand, coupled with stable business investment, should provide sufficient momentum for the economic recovery in the coming months, but challenges remain.

New York Fed Governor John Williams said now is not the time for the Fed to adjust its bond-buying program, but it is reasonable for US central bankers to discuss future options. "the economy has improved and I think it is on a good track," Williams said in an interview with Yahu Finance on Thursday. But in my view, we still have a long way to go to achieve the 'significant further progress' we are really looking for in terms of adjusting our asset purchase programme. " "even so, we have to think ahead and plan ahead, so I think it makes sense for us to consider the options that may be available in the future-talking about the state of the economy and our expectations of where it is going," he said. and understand how it might develop in the coming months. "

According to people familiar with the matter, Biden proposed to Republicans to set the minimum corporate tax rate at 15%, while strengthening the IRS enforcement efforts to raise funds for the infrastructure package. The Biden administration's latest proposal omits the idea of raising the corporate income tax rate from 21% to 28% because the tax increase is unacceptable to Republican lawmakers, the source said. But Biden may use other ways to achieve this tax increase. In the proposal to Republicans, companies with large tax credits are required to pay a tax rate of no less than 15%. The plan will also increase fiscal and tax revenue by strengthening audits of wealthy taxpayers.

Anton Siluanov, Russia's finance minister, said the country would empty dollars from its national welfare fund and switch to euros, renminbi and gold as the Kremlin tried to reduce its exposure to US assets in the face of threats of sanctions. The transfer, which affects about $119 billion in liquid assets, will be carried out in the huge reserves of the central bank. As a result, its impact on the market, if any, can be hard to track. Russia's central bank has been reducing its dollar holdings over the past few years as sanctions pressure from the United States and the European Union has intensified.

Global food prices have expanded to their highest level in nearly a decade, adding to fears of inflated grocery bills as economies struggle to emerge from the epidemic crisis. A United Nations measure of world food costs rose for the 12th consecutive month in May, the longest rise in a decade. Higher food costs will accelerate broader inflation, complicating efforts by central banks to provide more stimulus. Drought in the main growing areas of Brazil has affected the growth of crops ranging from corn to coffee, and vegetable oil production in Southeast Asia has slowed. This increases costs for livestock producers and is likely to further strain global food stocks, which have been depleted by soaring Chinese demand. Global food prices rose at their biggest month-on-month rise in more than a decade in May, led by a surge in international prices of vegetable oil, sugar and grains, the United Nations Food and Agriculture Organization (FAO) said in a statement on Thursday.

At a time when the world is scrambling to control the COVID-19 epidemic, the global number of vaccinations has reached 2 billion doses. It took just over six months to reach this milestone, and at the current rate, it will take another nine months to vaccinate 75% of the world's population, which is the threshold for achieving mass immunization. The situation among vaccination regions is uneven, with rapid progress in developed countries and difficulties in finding supplies in low-income countries. According to Bloomberg vaccine tracking, the United States and the United Kingdom have the fastest start of vaccination, China has the most doses, and the European Union, which has a slow start, is catching up. At present, the average number of inoculations per day in the world is 35.8 million, with China accounting for about 2/3. Major countries still lagging behind include India, Indonesia, Japan and Russia, as well as most of Africa.

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