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The Latest Breaking News from Unemployment

Job Market Stress Deepens Ahead of March Payroll Report; Stocks Turn Higher

A surprising surge in weekly unemployment claims filings is the latest suggesting the Fed rate hikes, and a simmering bank crisis, have cracked the red-hot jobs market.

The Street

Rising interest rates have put some borrowers in trouble, but the RBA says the banks will be fine

A significant group of borrowers are at serious risk of default, but Australian banks will be able to comfortably survive any losses, argues the Reserve Bank.

ABC News

U.S. weekly unemployment insurance claims rise to 198,000

New applications for U.S. unemployment insurance benefits rose 7,000 for the week ending March 25 to a seasonally adjusted 198,000. The previous week’s figure was unrevised at 191,000. The four-week moving average as of March 25 rose to 198,250 from an unrevised 196,250 as of the week ending March 18.

Ballotpedia

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More than 3,000 West Lothian residents claiming unemployment benefit

Jobless figures higher than elsewhere in south east Scotland but government backed schemes run by the council are having success

Edinburgh Live

How This Payroll Processor Could Buck The Storm If Jobless Rate Rises

Ceridian's Relative Strength Rating is higher than rivals Automatic Data Processing and Paychex amid worries U.S. unemployment could rise.

Investors Business Daily

COVID created an expanded social safety net; activists are now quietly working to bring it back

In March 2020, the economy grinded to a halt as the COVID-19 pandemic forced widespread shutdowns of businesses. As Congress watched the economy collapse, it responded by doing something lawmakers have resisted since the 1960s: a large expansion of the social safety net.

Tribune News Service

The late resignation? One third of Australian workers are considering quitting their jobs

Australians have been biding their time when it comes to big career moves, but with burnout rising and low unemployment, a change could be coming

The Guardian - AU

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Workers call for safety net benefits for undocumented Californians. ‘It’s a human right’

Since last fall, agricultural workers in California's Central Valley have had less work due to prolonged rain storms and the resulting flooding.

Tribune News Service

America's unemployment could be much higher than it seems

America's layoff situation isn't adding up. New government data reveals that the number of unemployed Americans could be much higher than it seems.

Fortune

S&P Futures Tick Higher Ahead of Key U.S. Inflation Data

June S&P 500 futures (ESM23) are trending up +0.16% this morning after three major U.S. benchmark indices closed higher on Thursday as technology-related shares continued to shine, while investors braced for crucial inflation data for more clues on Federal Reserve’s next rate moves.

Barchart

Saudi Unemployment Hits Record Low, Approaches ‘Vision 2030’ Target

In the last quarter of 2022, the unemployment rates in Saudi Arabia hit a historical low of 8%, which is only one percentage point away from the targeted rate of 7% specified in the country's national transformation plan, “Vision 2030.” The decrease in joblessness in the Kingdom can be attributed…

Asharq Al-Awsat

U.S. weekly unemployment insurance claims fall to 191,000

New applications for U.S. unemployment insurance benefits fell 1,000 for the week ending March 18 to a seasonally adjusted 191,000. The previous week’s figure was unrevised at 192,000. The four-week moving average as of March 18 fell to 196,250 from an unrevised 196,500 as of the week ending March 11.

Ballotpedia

Finland needs welfare cuts, opposition leader says ahead of election

Finland should cut spending on unemployment benefits and other welfare programmes to stop public debt from creeping up, opposition leader Petteri Orpo told Reuters ahead of a closely fought election at the weekend.

Reuters

A recession in 2023 is now inevitable. Layoffs in tech and finance will spread to other sectors

Don't let a seemingly strong jobs market fool you–the data today is reminiscent of the early days of past recessions, according to Murray Sabrin.

Fortune

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The Guardian - UK

68% of Muslims in England and Wales live in areas with high unemployment

Findings prompt fresh calls from campaigners for levelling up agenda to focus on young British Muslims

Tribune News Service

US jobless claims unexpectedly decline for a second week

Applications for U.S. unemployment benefits unexpectedly eased for a second week, underscoring a still-tight job market in which employers are reluctant to reduce headcount.

The Independent UK

US jobless claims inch down as labor market remains tight

The labor market continues to defy the Federal Reserve’s attempts at loosening it, with U.S. applications for unemployment benefits down again last week and remaining at healthy, historically low levels

Ballotpedia

U.S. weekly unemployment insurance claims fall to 192,000

New applications for U.S. unemployment insurance benefits fell 20,000 for the week ending March 11 to a seasonally adjusted 192,000. The previous week’s figure was revised up from 211,000 to 212,000. The four-week moving average as of March 11 fell to 196,500 from a revised 197,250 as of the week…

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Ballotpedia

Arkansas enacts law reducing length of unemployment insurance benefits

A new Arkansas law effective March 6, 2023, will limit the maximum length of unemployment insurance benefits from 16 weeks to 12 weeks starting Jan. 1, 2024. The bill passed with veto-proof majorities in both chambers (29-3 in the Senate and 79-15 in the House).

Belfast Live

NI Census 2021 results: Unemployment figures show 'status quo is not delivering' says SDLP leader

Both Sinn Fein and SDLP highlight Derry and Strabane unemployment rate

Tribune News Service

Why does Texas labor market just keeps surging in 2023?

The hiring spree just keeps on going.

Tribune News Service

US jobless claims drop by most since July, led by New York

Applications for U.S. unemployment benefits fell last week by the most since July, unwinding most of the prior week’s jump as claims in New York plunged.

The Conversation

Unemployment rate back down to 3.5%. It's anyone's guess when things will turn

The latest labour force data from the Australian Bureau of Statistics shows employment in February increasing by 64,600, and the (seasonally adjusted) unemployment rate declining from 3.7% to 3.5%.

The New Daily

Watch: Unemployment falls, Albanese responds, Gas shortfall

Watch: Australia's seasonally-adjusted unemployment rate has decreased to 3.5 per cent. Prime Minister Anthony Albanese has rejected Paul Keating's

The Guardian - AU

Unemployment rate in Australia falls back to 3.5% despite interest rate rises

Economy adds almost 64,000 jobs, a figure that will be closely examined by the RBA as it decides whether to pause further interest rate increases

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