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Yellen expects U.S. can achieve full employment next year, China's Jan.-Feb. exports surge, Brent once breaks $70 barrel on Monday Updated: 2021-03-09 13:52:13 KST


U.S. Treasury Secretary Janet Yellen says she expects the country's labor market to return to full employment next year, with the help of the relief package.
Yellen noted, yesterday local time, the importance of helping the unemployed get back to work.
U.S. payroll numbers have remained more than 9 million lower when compared with the employment peak before the coronavirus pandemic.

"The most important thing is to get our economy back on track and help people get their lives back in order to make sure that this pandemic doesn't permanently scar our workforce. And I think this is what we need. I'm hopeful that next year with the package of this size, we can be back at full employment."

The U.S. Treasury Secretary also stressed the economic hardship on women and minorities due to COVID-19, calling the impact, as she put it, "absolute tragic".

According to the General Administration of Customs, China's exports surged more than 60 percent in dollar terms in the first two months of this year.
The country's exports dropped 17.4 percent during the same period last year.
The country's February exports jumped more than double on year, posting a record surge since the pandemic began.
Continued global demand for medical equipment and work-from-home devices have been said to have largely contributed to the rise.
The customs agency noted that the trade data indicates growing global demand from major trading partners like the U.S., and Europe.

Brent traded as high as 71.38 dollars per barrel in early Asian trade, the highest level since January last year.
The rise came after attacks on Saudi Arabian oil facilities by Yemen's Houthi forces on Sunday.
Saudi Arabia's ministry of energy stated that a petroleum tank farm at one of the world's largest oil shipping ports was attacked by a drone, and Saudi Aramco facilities were targeted by a ballistic missile.
But the ministry noted that neither attack caused any injury or loss of life or property.
SEO Eunkyung, Arirang News.

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