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The Latest Breaking News from Unemployment

Thanks, Philip: jobless numbers set for big rise, according to NAB

Australia is looking at hundreds of thousands more jobless as the economy slows down dramatically. That will have real costs for the federal government.

Crikey

Michael Hiltzik: Wage growth doesn't drive inflation. So why is the Fed out to crush workers?

Federal Reserve Chairman Jerome Powell and his colleagues have made major mistakes in their battle with inflation.

Los Angeles Times

Michael Pascoe: In defence of the RBA (no, seriously)

The RBA and whoever happens to be in government right now want unemployment up above 4 per cent to 4.25 or 4.5 per cent.

The New Daily

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"Minnesota Appeals Court Decides 4 Cases on Religious Exemptions from Vaccine Mandates"

A post by Prof. Howard Friedman (Religion Clause), which he kindly allowed me to pass along: Yesterday, the Minnesota Court of Appeals decided four separate appeals from decisions of Unemployment Law Judges who denied unemployment benefits because an applicant refused on religious grounds to comply with an employer's Covid vaccine…

Reason

If Employee Is Fired for Off-the-Job Political Speech, Can He Be Denied Unemployment Compensation

on the grounds that the firing was for "misconduct" (such as violation of a social media policy)?

Reason

UK borrowing costs soar above levels of Liz Truss premiership

Stronger than expected job and pay data makes interest rate rise more likely, driving up two-year bond yields

The Guardian - UK

Scotland’s employment rate falls

85,000 people aged 16 and over in Scotland were unemployed between February and April

Insider UK

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UK short-term borrowing costs surge above Truss-era highs; US inflation falls to 4% – as it happened

UK interest rates expected to hit 5.5% by December after regular pay grows by a record, sending two-year bond yields soaring

The Guardian - UK

North East unemployment falls to record low, new figures show

Unemployment in the North East is lower than the national average for the first time since the figures began

Chronicle Live

FTSE 100 Live: Shares rise; US inflation falls to 4%; gilt yields soar beyond mini-Budget high

A return to growth for the UK economy in April was today offset by caution in the recruitment sector after staffing firm Robert Walters warned on profits.

Evening Standard

How universal basic income's impact on people's finances could transform the nation's health

In October 1936, 200 men marched from South Tyneside to London to protest against the poverty and unemployment in their town, Jarrow.

The Conversation

It’s a struggle to leave behind the wealth or poverty of our birthplace

Research reveals the extent to which our earnings and values are determined by where we are born

The Guardian - UK

West Lothian unemployment figures at 'record' low levels

The figures reflect a pre-pandemic historic low in the county

Daily Record

Inflation, unemployment, interest rate hikes: is it any wonder Australia’s misery index is rising?

Alleviate supermarket blues by performing a funky dance in the canned veg section

The Guardian - AU

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Barchart

Dollar Slides as T-note Yields Fall on U.S. Jobless Claims Jump

The dollar index (DXY00 ) on Thursday tumbled to a 2-week low and finished down by -0.72%. The dollar retreated Thursday after U.S. weekly initial unemployment claims jumped to a 19-month high and knocked T-note yields lower. Also, expectations for the Fed to pause its rate hike campaign at next...

The Independent UK

US applications for jobless benefits highest since October 2021

The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy

Edinburgh Live

West Lothian unemployment figures being kept down by new businesses

New start businesses are worth £16m to local economy councillors hear as 308 firms launch in last year alone.

Crikey

A very Philip Lowe guide to making a not-inevitable recession inevitable

The Reserve Bank governor is making sense of a confused economy by stifling the emergence of a new one.

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Barchart

Crude Inventories, Unemployment Claims and Other Key Things to Watch This Week

Markets breathed a sigh of relief last week as it appears the debt ceiling drama has come to an end (at least for now). Even with that behind us, there are still plenty of things to watch in the upcoming weeks

Fortune

Why is inflation still so bad? Extreme-low unemployment rates in these states are a major factor

Historically low joblessness is one reason inflation is still a thorny problem.

Radio France Internationale

Global employment gap grows as poor countries struggle to recover like rich ones

A report from the UN's International Labour Organisation predicts that global unemployment will finally fall below pre-pandemic levels in 2023 – but only in high-income countries, which have recovered faster from Covid and other crises.

ABC News

Halls Creek TAFE struggles amid staff shortages as leaders call for more training

Halls Creek has high unemployment despite a huge worker shortage, prompting leaders to aim frustration at the town's often empty and padlocked TAFE campus.

The Hindu

GOs issued on Yuva Nidhi, Anna Bhagya

A day after the Cabinet approved the implementation dates for the five pre-poll guarantees of the Congress, the State government on Saturday notified a Government Order fixing eligibility criteria for seeking benefits from Yuva Nidhi scheme that promises unemployment benefits for graduates and diploma holders.

WEKU

Amazingly, the U.S. job market continues to roar. Here are the 5 things to know

Employers added a whopping 339,000 jobs last month, a stunningly strong number. Here are some of the key takeaways of the country's red hot labor market.

Bangkok Post

China's youth unemployment problem

This month, China released official statistics showing that its unemployment rate for young people (16-24 years old) reached a record high of 20.4% in April. Worse, the news comes just one month before another 11.6 million students will graduate from college and vocational schools and enter the job market.

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