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The Latest Breaking News from Unemployment

US added 172,000 jobs in May as labor market shows signs of resilience

Government figures show unemployment rate at 4.3% amid rising inflation and economic uncertainty from Iran war

The Guardian - US

America’s job market has a surprising problem: Nobody’s hiring, nobody’s firing

While unemployment is projected to hold steady at a low 4.3% in May, according to FactSet, the pace of job creation remains significantly slower than the boom experienced in the wake of pandemic lockdowns

The Independent UK

Trump promised deportations would protect American jobs. Brookings said ICE raids have cost the economy over 668,000 of them

A recent study from Brookings found that ICE arrests shocked local economies and drove unemployment.

Fortune

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The US just had its highest number of people file for unemployment benefits since the Iran war started

The war in Iran has injected significant uncertainty into the broader US economy and its labor market

The Independent UK

US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February

The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historically low despite ongoing economic uncertainty brought on by the war in Iran

AAP

AI is getting too much of the blame for graduate hiring prospects, and there could be a job perk that is actually behind it all

New York Federal Reserve Bank data shows that graduate unemployment started rising before AI was really a thing.

TechRadar

May Jobs Report Comes In Hot, Keeps Fed Focused on Inflation

The May jobs report was released Friday morning and came in much higher than economists expected..

Kiplinger

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The graduate job market is grim right now – but the data says university is still worth it

Spend ten minutes talking to a soon-to-be graduate about their job search and you might come away convinced that a university degree has become a confidence trick.

The Conversation

New York Fed research is just one of many saying remote work is behind the real Gen Z hiring nightmare

Graduates are blaming AI for their employment woes, but the real culprit may be the pandemic’s most sought-after workplace perk

Fortune

Warning unemployment could hit 2m under Labour, with young people worst hit

IN FULL

The Independent UK

Unemployment to hit 2m under Labour, business group warns

Lack of jobs worst for the 16-24 year olds

The Independent UK

Unemployment falls to lowest since May 2007 as employment hits record high in Spain

The start of the summer season boosts the labour market: jobless total falls by 36,323, Social Security gains nearly 232,000 members, with hospitality driving job creation.

Euronews

Study identifies primary driver of high unemployment rates for recent college grads

IN FULL

The Independent UK

Gen Z is losing the most in the AI economy—and Goldman warns it's about to get worse

Goldman has good news on the AI job-killing story, until you look closely at the numbers.

Fortune

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International Business Times UK

UK Labour Govt Tells Jobless Youth to Consider the Army as Worklessness Hits Record High

With youth unemployment hitting a record high of 1 million, the government is promoting the Armed Forces as a 'gold standard' alternative to university.

The Economic Times

Young and unemployed? Remote work, not AI, may be the problem, study finds

Remote work is making companies hesitant to hire young graduates. A New York Fed study shows this is a key reason for increased unemployment among recent college leavers. Businesses find it harder to train and mentor new staff remotely. This trend predates AI tools. The job market shows fewer layoffs…

The Independent UK

Remote work blamed for rise in unemployment rate for recent college grads

These findings align with the current ‘low-hire, low-fire’ state of the job market

Barchart

Stocks Set to Open Higher as AI Optimism Overshadows Fresh U.S.-Iran Hostilities, Jobs Data Awaited

June S&P 500 E-Mini futures (ESM26) are up +0.31%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.23% this morning as optimism surrounding artificial intelligence helped offset concerns about renewed U.S.-Iran tensions.

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The National (Scotland)

Richard Murphy: Are there too many unemployed young people? If so, it's on Labour

WHY are unemployment and alienation from the workplace such persistent problems among young people that they have consistently existed under…

The Economic Times

USD rate today: Check U.S Dollar against Euro, Yen, Sterling

U.S. nonfarm payrolls data due on June 5 are expected to show an unemployment rate of 4.3 per cent and an increase of 85,000 jobs.

Fortune

Forget the STEM safety net. Peter Thiel warns AI is a bigger threat to technical roles than to creative thinkers

A LinkedIn report supports some of the billionaire’s predictions, showing job postings mentioning “storytellers” doubled over the past year.

The Guardian - UK

The disaster of Brexit is a warning against simple solutions to hard problems

Alan Milburn says youth unemployment has no quick fixes – an idea with an important lesson for those thinking about how to rejoin the EU

The Independent UK

Former M&S boss to help government address youth unemployment crisis

IN FULL

The Independent UK

Starmer hires ex-M&S chief to tackle youth unemployment crisis

Marc Bolland has been tasked with convening business leaders to help address the number of young people not in education, employment or training after a bombshell report revealed the problem costs £125billion a year

The Guardian - UK

Former M&S chief appointed to tackle UK youth unemployment crisis

Part of Marc Bolland’s government advisory role will be to help disabled or depressed young people to find training or job

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