Top-of-mind economic news as we start the week:
— The U.S. economy added a healthy 199,000 jobs in Nov. but below the 240,000 average for the past 12 months; unemployment fell to 3.7%.
— U.S. consumer expectations for coming year fell from 4.5% down to 3.1%, the lowest level since March 2021.
— U.S. oil prices dropped to under $70/barrel, the lowest level since June, despite OPEC production cuts to raise prices.
— The European Union issued the world’s first government regulations on AI, as use of artificial intelligence takes off.
— U.S. multinational corporations may have to comply with climate reporting rules imposed by Europe, until U.S. rules (due April 2024 from the SEC) are adopted.
