Tokyo shares drop as GDP shows record quarterly fall

08:28, August 17, 2020

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  UK employment in Q2 sees largest quarterly drop in decade

  LONDON, Aug. 11 (Xinhua) -- Britain has seen the largest quarterly drop in employment since 2009, as 220,000 fewer people were on the payroll in the second quarter compared with the previous one, official statistics showed on Tuesday.In this file photo taken on June 15, 2020 Commuters wearing face masks walk through the ticket barriers at Waterloo Station in London on June 15, 2020. (Photo: AFP)Estimates for April to June showed 32.92 million people aged 16 years and over in employment, 113,000 more than a year earlier but 220,000 fewer than the previous quarter, according to data from the Office for National Statistics (ONS).A large number of people are estimated to be temporarily away from work, including furloughed workers, approximately 7.5 million in June with over 3 million of these being away for three months or more, the ONS said.It said the youngest workers, oldest workers and those in manual or elementary occupations were those most likely to be temporarily away from paid work during the coronavirus pandemic.The ONS said employment is weakening and unemployment is largely unchanged at 3.9 percent because of increases in economic inactivity, with people out of work but not currently looking for work.Analysts have warned that unemployment will continue to surge when the governments job retention scheme, which pays 80 percent of workers salary up to 2,500 pounds (3,268 U.S. dollars) a month to those furloughed, winds up in October.

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  Tokyo shares open flat

  File photoTokyo shares opened flat Tuesday as investors sat on their hands awaiting the release of minutes from the US Federal Reserve meeting.The benchmark Nikkei fell 0.04 percent or 10.12 points to23,086.63in early trade. The broader Topix index eased 0.11 percent, or 1.83 points, to 1,607.99.

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  Brazilian financial analysts forecast 5.52 pct drop in GDP in 2020

  17 -- For the seventh consecutive week, Brazilian financial analysts forecast a smaller contraction in gross domestic product (GDP) for 2020 than before, adjusting it from 5.62 percent to 5.Regarding the trade balance, analysts expect a trade surplus of 55 billion U.