Madrid, Spain (AHN) – Moody’s Investors Service placed Spain on a credit ranking review Thursday for a possible downgrade. The ratings agency said it needs to go over Madrid’s Aa rating because of challenges to the Spanish government to consolidate the country’s fiscal balance.

On the same day, Moody’s renewed the AAA credit rating of Canada. Moody’s said it renewed Ottawa’s rating because of factors that helped Canada emerge from the global financial crisis relatively strong.

The agency cited Canada’s economic resilience, very high government financial strength and low susceptibility to event risk. In its annual report, Moody’s forecast that Ottawa’s debt load will improve in the next few years because the federal government is on track to fiscal consolidation.

The agency added that Canada’s provinces also enjoy high credit ratings despite their relative large budget deficits.

Among the risks to Canada’s outlook identified by Moody’s were the country’s housing market and Quebec’s continued insistence to be sovereign from the rest of Canada. However, the agency stressed that the chance of both risks affecting Ottawa’s credit rating is low.

The review of Spain’s debt rating comes on the heels of cuts in rating made by major ratings agencies to Greece, Ireland and Portugal, which have been hit badly by the eurozone debt contagion.

The two actions by Moody’s, however, were overshadowed by speculation that the U.S. would be downgraded from its AAA rating because of the deadlock among American political leaders on how to raise the country’s $14.3-trillion debt limit.

A scheduled House vote on a two-step bill proposed by Speaker John Boehner that would increase the cap by $900 billion was postponed Thursday evening as Republican leaders sought more support for the measure from party members.

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Washington, D.C., United States (AHN) – The U.S. postal With the national unemployment rate running at 9.5 percent The U.S. Postal Service announced Thursday it is offering buyouts to eligible employees in an effort to cut 7,500 administrative jobs.

Postal officials hope the $20,000 buyout packages encourage enough workers to retire early to achieve the reduction of 7,500 employees.

The Voluntary Early Retirement plan and financial incentives is being made available only to employees who work as career nonbargaining personnel at “headquarters, headquarters-related field units, area offices and administrative personnel at customer service district offices,” USPS officials said in a statement.

Employees can choose to leave by May 31. But with the nation’s unemployment rate running at 9.5 percent, this buyout might not achieve its target, which was the case in 2009 when a buyout expected to encourage 30,000 workers to voluntarily retire only drew 21,000 takers.

USPS officials also said they wanted to close seven struggling district offices located around the country.

The postal service has seen a decline in mail volume and revenue as it competes with use of the Internet, as well as competition from companies such as UPS and FedEx.

Postmaster General Patrick Donahoe put the situation into perspective.

“It’s critical that we adjust our workforce to match America’s changing communications trends as mail volumes continue to decline,” Donahoe said. “At every step and with every change, our focus remains on our customers and continuing to provide outstanding customer service.”

The district offices are not used for mail delivery or collection. The offices slated for closing are located in Columbus, Ohio; Troy, Mich.; Carol Stream, Ill.; Providence, R.I.; Macon, Ga.; Big Sky, Mont.; and Albuquerque, N.M.

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Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Shanghai, China (AHN) – Some Chinese factories and other service establishments are experiencing a serious shortage of labor due to the high cost of living and an unchanged salary base.

Manufacturing hubs in the Yangtze and Pearl River deltas that surround the city of Shanghai and Guangzhou province are experiencing an acute shortage of migrant workers in their respective home and customer service sectors.

The labor shortage, which has already affected several companies’ expansion plans, occurred in the busiest season of the year–Christmas and New Year. Manufacturing firms were forced to decline orders because of the worker shortfall that is estimated to be more than 900,000 in Guagdong province.

On average, 40 percent of job vacancies in the Yangtze and Peal River Delta areas remain unfilled.

Stagnant salaries and the steadily increasing high cost of living have been blamed for the crisis. This has caused workers to remain in their hometowns where, although they earn little, they do not have to spend as much on living costs.

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