Amazon goes on a vast hiring spree

<p>Kia ora, </p><p>Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect New Zealand.</p><p>I'm David Chaston and this is the International edition from Interest.co.nz.</p><p>Today we lead with news that while emerging economies are doing it tough, the main first-world ones are still expanding at a healthy clip.</p><p>We get the US non farms payroll report for August this weekend (NZT) and today's pre-cursor <a href="https://adpemploymentreport.com/2021/August/NER/NER-August-2021.aspx" target="_blank"><strong>ADP Employment Report</strong></a> disappointed. The delta surge is taking the top off their labour market expansion. Analysts expect the official non-farm payrolls report to deliver +750,000 extra jobs. But they had expected the ADP report to deliver +613,000 - but it only delivered +374,000. So those non-farm payrolls estimates are very likely to be downgraded.</p><p>However, we should also note that online retail behemoth Amazon <a href="https://press.aboutamazon.com/news-releases/news-release-details/amazon-announces-career-day-2021-americas-biggest-recruiting" target="_blank"><strong>said</strong></a> it is currently trying to hire 40,000 corporate and tech roles across the US as well as tens of thousands of hourly positions. It claims to be the US's largest 'job creator'. Plus it is on a hiring spree internationally as well, another 15,000 plus.</p><p>There was also some final PMI data released for August. The <a href="https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/august/" target="_blank"><strong>ISM report</strong></a> came in with a good expansion and marginally better than expected. The internationally benchmarked <a href="https://www.markiteconomics.com/Public/Home/PressRelease/cb6af618670b451b98cd0d3f1e41cd31" target="_blank"><strong>Markit one</strong></a> was just a little bit weaker in its final version. But both record healthy expansions. Both recorded strong new order inflows. And both noted severe input