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The Latest Breaking News from Unemployment

US Unemployment Claims Fall Slightly Amid Healthy Labor Market

Latest Labor Department report shows slight decrease in jobless claims, hinting at a healthy U.S. labor market despite rising interest rates.

Top News

Why Nvidia’s Earnings Report Could Be More Important Than the Fed’s Next Move

In August 2023, the U.S. Federal Reserve decided to keep interest rates steady at a 23-year high of 5.33%. With inflation slowing down and the unemployment rate slightly rising, many believe that the Fed will cut interest rates in its upcoming meeting on September 17-18.

inkl

Unemployment is rising and Australia’s economy is weak – but don’t hit the recession alarm just yet

Are we headed for a recession? The answer is complex – although for young people it already feels like one

The Guardian - AU

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Starting a business after university: young South African entrepreneurs discuss the highs and lows

South Africa’s youth unemployment rate, at 45.5% (among those aged between 15 and 34), is worryingly high, even in the context of widespread unemployment across the African continent. More than 72 million young people in Africa, most of them women, are neither employed nor pursuing tertiary education.

The Conversation

Africa’s ‘youthquake’: huge numbers of young people have no jobs, the wrong skills and little hope

By 2050, one in every three young people on earth will be of African origin, according to the 2024 International Labour Organisation’s (ILO) Global Employment Trends for Youth report. Africa’s young people will be key players in the direction of future global consumption, culture and even stability.

The Conversation

‘I miss home’: 13-year-old Nigerian girls trapped and exploited in Ivory Coast sex industry

Thousands are being trafficked out of Nigeria, tricked with promises of work by agents taking advantage of record unemployment levels in the country

The Guardian - UK

‘No one has any money’: Israel’s restrictions stifle West Bank economy

Soaring unemployment and poverty are fuelling unrest as Palestinian firms and workers face ‘economic siege’

The Guardian - UK

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Unemployment Benefits Applications Rise Modestly, Remain At Healthy Levels

US unemployment claims show a slight uptick, but experts remain optimistic about the labor market's stability.

Top News

Pandemic's last laugh: Overestimates of jobs recovery

The Labor Department says it's making a sizeable fix to its jobs data.

The Street

South Africa’s competition law has special conditions for company mergers: do they benefit society or hinder business?

Competition is a good thing. This is the common thread through global competition law, which aims to prevent monopolies – when one firm dominates a sector.

The Conversation

Disgraced former congressman George Santos faces prison time after pleading guilty to fraud crimes

Santos was indicted last year on 23 charges, including wire fraud, identity theft and abusing unemployment benefits

The Independent UK

Historic Employment Gains For Minorities Under Trump And Biden

Former President Trump claimed historic employment gains for minority workers, but these records were surpassed during President Biden's presidency.

Top News

US Unemployment Claims Fall, Job Market Remains Resilient

Labor Department report shows a decrease in jobless claims, indicating a resilient job market despite high interest rates.

Top News

China's Underwhelming Data Dampens Hope Of Economic Recovery

Chinese industrial production growth slowed in July while unemployment rose, official data showed Thursday, highlighting an uneven recovery in the world's second-largest economy despite recent government measures to try to stimulate expansion.

International Business Times

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The Guardian - AU

Australia’s unemployment rate rises to 4.2% in July, even as employers add more than 58,000 jobs

Latest data reported by the ABS dims chances of a near-term RBA interest rate cut

The Guardian - AU

The RBA poured cold water on an interest rate cut before Christmas – but its hawkish stance may make inflation even worse

It seems that the lessons of the past on issuing ‘forward guidance’ have been quickly forgotten

Barchart

S&P Futures Tick Higher Ahead of Key U.S. PPI Data, Home Depot Earnings on Tap

September S&P 500 E-Mini futures (ESU24) are trending up +0.11% this morning as investors awaited crucial U.S. producer inflation data, comments from a Federal Reserve official, and an earnings report from home improvement chain Home Depot.

Barchart

S&P Futures Climb Ahead of Key U.S. PPI Data, Home Depot Earnings on Tap

September S&P 500 E-Mini futures (ESU24) are trending up +0.32% this morning as investors awaited crucial U.S. producer inflation data, comments from a Federal Reserve official, and an earnings report from home improvement chain Home Depot.

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The Guardian - UK

Nigel Farage ‘deeply irresponsible and dangerous’ during riots, says Tory leader contender – as it happened

Tom Tugendhat criticises Reform UK leader’s attempt to amplify ‘false information’ and for his failure to condemn the riots

The Guardian - UK

UK unemployment falls as wages growth hits lowest in two years

Rachel Reeves says there is more to do in supporting people into employment and she will take action in budget

The Guardian - UK

AstraZeneca hits £200bn valuation as ambitious plans pay off – as it happened

Pharmaceuticals giant has hit a £200bn stock market valuation, a decade after fighting off Pfizer’s takeover approach

Newslaundry

A herbal firm’s handbook of ‘abuse’: ‘Drugs, fraud, and youngsters confined to rooms’

At a hotel in Bihar’s Begusarai on March 21, union minister and MP Giriraj Singh thundered on stage before a crowd of youngsters in suits. “A leader doesn’t mean a political leader…you’ve reached here by battling unemployment. So you are the real leader…If I wasn’t an MP, I would’ve worked…

The Street

Analysts debate if a recession is likely in 2024

Is a recession coming in 2024?

Barchart

Dollar Boosted by Higher T-note Yields

The dollar index (DXY00 ) on Thursday rose slightly by +0.03%. The dollar Thursday erased overnight losses and turned slightly higher after US weekly initial unemployment claims fell more than expected, which pushed T-note yields higher and was hawkish for Fed policy. The dollar gave up most of its advance...

Barchart

Stocks Rally as Economic Concerns Ease and Chip Stocks Climb

The S&P 500 Index ($SPX ) (SPY ) today is up +1.70%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +1.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +2.24%. US stocks are trading higher today after US weekly initial unemployment claims fell more...

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