Mon, 06 Jul 2020

WASHINGTON -- U.S. Federal Reserve Chairman Jerome Powell said Friday that he is concerned about a second wave of COVID-19 infections, which he believes would dampen consumer confidence and hurt economic recovery.

"So there is clearly a risk of a second outbreak or a second wave. And you know, that will be challenging," Powell made the remarks in a virtual discussion with former Fed Vice Chairman Alan Blinder, held by the Princeton University. (U.S.-Recovery)

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WASHINGTON -- U.S. personal consumption expenditures (PCE) nosedived 13.6 percent in April month-on-month amid widespread shutdowns triggered by the COVID-19 outbreak, the U.S. Commerce Department reported on Friday.

The plunge, following a revised 6.9-percent drop in March, has been the sharpest drop in government records since six decades ago, according to the report released by the department's Bureau of Economic Analysis. (U.S.-Consumption)

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PHNOM PENH -- The World Bank has approved a credit of 15 million U.S. dollars for Cambodia to strengthen pre-service education system for health professionals, said its press statement on Saturday.

The Southeast Asian country faces a shortage of qualified health professionals, especially in the public sector, the statement said. (World Bank-Cambodia)

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HELSINKI -- Finnish government on Friday decided to allow 4,500 additional seasonal workers from non-EU members for harvesting in agriculture, said the Finnish Ministry of Agriculture and Forestry.

Marko Rosqvist, a specialist at the Finnish Industrial Union, told Xinhua on Friday that the starting salary for unskilled agri-workers in Finland is currently somewhat under nine euros per hour. However, the level is 10 times more than what the sector pays in Ukraine. "In Finland, this is a low-wages sector." (Finland-Employment)

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