Indian wages contracted last quarter for the first time since the pandemic. This curbed consumer spending and led to weaker corporate profits among major companies like Maruti Suzuki and Hindustan Unilever. The slowdown poses challenges for the government’s growth goals. Opposition parties criticized the government for ignoring the economic difficulties of the middle class.
Wall Street falls as jobs data stokes inflation fears
A Labor Department report showed job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year
January 11, 2025