Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over ...

The U.S. Department of the Treasury today delivered to its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. In this Report, Treasury reviewed and assessed the policies of major U.S. trading partners, comprising more than 80 percent of U.S. foreign trade in goods and services, during the four quarters through June 2021. In accordance with the Omnibus Trade and Competitiveness Act of 1988 (the 1988 Act), the Report concludes that no major U.S. trading partner manipulated the rate of exchange between its currency and the U.S. dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade. The Report also concludes that both Vietnam and Taiwan continue to meet all three criteria under the Trade Facilitation and Trade Enforcement Act of 2015 (the 2015 Act) during the period under review, and that the currency practices of twelve economies require close attention. Treasury has conducted enhanced analysis of Vietnam and Taiwan’s macroeconomic and foreign exchange policies, as reflected in the Report. “Treasury is working relentlessly to promote a stronger and more balanced global recovery that benefits American workers, including through close engagement with major economies on currency-related issues,” Secretary of the Treasury Janet L. Yellen said today. As a result of discussions through the enhanced engagement process, Treasury and the State Bank of Vietnam (SBV) reached agreement in July 2021 to address Treasury’s concerns about Vietnam’s currency practices.[1] Treasury continues to engage closely wit tweet at 9:00am: US TREASURY FX RPT: NO MAJOR TRADING PARTNER NAMED AS MANIPULATOR; 12 COUNTRIES BEING MONITORED #FX #Treasury #China