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The Latest Breaking News on Economy

Kwasi Kwarteng admits he and Liz Truss ‘blew it’ with economic reforms

Former Chancellor has admitted he and Liz Truss got ‘carried away’ with their economic reforms that caused a crisis

Evening Standard

What are the dates of additional benefit payments in December?

Help is out there for those on low incomes struggling with rising prices and high bills as the weather gets colder

The Independent UK

'Staff cuts, council tax hikes and services slashed' as budget black hole widens by £10m in just four months

Councillors will have to consider cutbacks in staffing, hikes in the council tax and diminished services across

Daily Record

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Sri Lanka's Parliamant approves budget amid economic crisis

Sri Lanka’s Parliament has approved a budget that includes reforms aimed at improving the country’s finances as it attempts to recover from its worst economic crisis

The Independent UK

Hunter businesses 'downbeat', new survey results show

Businesses in the Hunter region are more concerned than the NSW average when it comes to rising interest rates and energy costs, according to the latest Business Conditions Survey.

Newcastle Herald

Dems try new child tax credit tactic

Progressives threaten to block Republican tax break for companies unless they can lift more kids out of poverty

Salon

Warning signs in jobs data

Beneath the surface of a job market that appears exceptionally strong, things might be getting bumpier.

Axios

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Commentary: House Republicans must change course on wasteful spending

This holiday season, working families across America are struggling through the worst bout of inflation in decades. A typical household has lost more than $7,000 in purchasing power since January 2021 due to prices rising faster than incomes.

Tribune News Service

DWP benefits claimants to be disrupted by staff strike this Christmas

Universal Credit, PIP, ESA and other claimants could see their interviews impacted

Liverpool Echo

Australia wants international students to stay and work after graduation. They find it difficult for 4 reasons

International students are flooding back to Australian universities. Some predictions say 2023 could even see record numbers of overseas students in the country.

The Conversation

Why did so many US men quit working? Social status may hold the key, study says

A decline in social status relative to better-paid peers is a key reason why so many American men have dropped out of the labor force, according to the latest paper to examine a conundrum that’s baffled economists for decades.

Tribune News Service

China Is the Wild Card for Global Inflation in 2023

The country’s long-awaited emergence from Covid Zero would ignite its economy and put upward pressure on prices around the world.

Businessweek

Thousands of Australians locked out of employment as entry-level jobs dry up, survey suggests

Anglicare says there are 15 applicants per position but many often stand little chance of success due to lack of experience, age and other barriers

The Guardian - AU

The RBA keeps slamming on the brakes, but the economy has already very much slowed down

GDP figures show wages and not just profits are starting to generate growth. Still, disposable income is going backwards

The Guardian - AU

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The Guardian - UK

Tories are still repeating the myth of the workshy poor

Letter: The idea that there is a ‘culture of worklessness’ has been debunked, but Conservatives keep making such claims to justify punitive welfare reforms, writes Carolyn McAllister

Dublin Live

Social welfare Ireland: Major restructuring could see Jobseekers' Benefit doubled

A new plan which would radically change how payments are made to workers who have lost their jobs will be introduced to Cabinet tomorrow

ABC News

Youth allowance will go up by the largest amount since 1998 — but it remains stuck below the inflation rate

Youth and student payments will go up by 6.1 per cent on January 1 — but the increase still won't be enough to cover the cost of living amid rising inflation.

Tribune News Service

US job data were robust though business response rate was poor

There’s one caveat to keep in mind about Friday’s surprisingly large U.S. payrolls and wage gains: the response rate from businesses was the poorest since January 2002.

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Al Jazeera

US hiring stays strong in November

US labour market has defied sceptics, adding hundreds of thousands of jobs, month after month despite rising rates.

Bangkok Post

Hot US job market a challenge for Fed

WASHINGTON: US employers added more jobs than forecast in November and wages surged by the most in nearly a year, pointing to enduring inflationary pressures that boost chances of higher interest rates from the Federal Reserve.

ABC News

Australian wool price plummets as China COVID lockdowns, Ukraine war, floods, inflation take toll

It's a grim week for woolgrowers as prices tumble to their lowest on the world market in 12 years. And that may not be the last of the bad news.

Tribune News Service

Continuing US jobless claims rise to highest since February

Recurring applications for U.S. unemployment benefits rose to the highest since February, suggesting that Americans who are losing their job are having more trouble finding a new one in a labor market that’s gradually cooling.

The Independent UK

Applications for jobless benefits declined last week

The number of Americans applying for unemployment benefits came back down last week and continue to hover around levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve’s aggressive interest rate hikes

Irish Mirror

Unemployment rate in Ireland at 20-year record low

Despite the bleak economic forecast, more people are employed in Ireland than ever

Daily Mirror

Poorest students more than £1,000 worse off this year as inflation outstrips support

Students are facing real terms cuts to their maintenance loans due to inflation forecast errors - as well as 'falling through the cracks" of the Government's cost of living support'

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