Good morning from the Financial Times.
Today is Friday, July 3rd, and this is your FT News briefing.
The U.S. Labor market is slowing, and the Korean government wants people to cool it on their property investments.
Plus, Germany is struggling to stay on top of industry and football.
Germany was, for decades, undoubtedly one of the powerhouses of both European football and, indeed, global football.
But in the last decade or so, the crown has very much slipped.
I'm Safiya Ahmed, and here's the news you need to start your day.
The U.S. Economy added just 57,000 jobs last month.
Economists expected more than double that.
It's a sign that the labor market is cooling.
But the number is still a lot higher than the 10,000 jobs that the U.S.
Was adding on average each month in 2025. That means that this year,
the Federal Reserve has been less concerned about a weak labor market.
Instead, it's focused on tackling inflation from the Iran war.
So investors were expecting the Fed to raise rates.
But this disappointing jobs report means that traders are scaling back their bets on that.
Now they think it's less likely that the Fed will raise borrowing costs.
Global demand for AI semiconductors has been a big boost for the South Korean stock market.
But there's a problem.
The government can't convince people to keep their money in equities.