Although the ADP showed that the private sector beat estimates in job creation, the increase of 189,000 jobs reflected a slowdown from August and a report from consultants Challenger, Gray & Christmas estimated that employers planned job cuts of 33,816 in September.
The key to reinventing America’s economy remains innovation, says John Gapper in the Financial Times.
Tensions in the Middle East rose again as Turkey took aim at targets within Syria in response to the deaths of two women and three children killed by Syrian forces. Turkey’s parliament also took steps by planning a vote to establish guidelines for responding to any additional aggressive actions by Syria.
European Financial Crisis
France has stepped away from its plans to implement a massive tax increase following an uproar from businesses. Reality is also setting in as it becomes clearer that while Germany can help, it cannot save the euro on its own.
“Although Germany is, to be sure, the most important European country for overcoming today’s problems, its abilities to project its power at the EU level are substantially restricted — and they will diminish further in the months ahead. Germany’s position as the chief backer of the eurozone’s stabilization arrangements does not necessarily translate into political supremacy,” notes Foreign Affairs magazine.
The Washington Post’s David Ignatius reports on a few ideas on how to ease the transition of power in Afghanistan. The framework for transition stems from ideas put forward by Gen. Ehsan ul-Haq, a former chief of the Pakistani Inter-Services Intelligence directorate.
“Haq sees two baseline U.S. demands: No al-Qaeda forces in Afghanistan, and no return to the Taliban’s oppressive policies toward women; the Taliban, according to Haq, has just one irreducible demand:No more foreign forces in Afghanistan,” says Ignatius.