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The Latest Breaking News from Unemployment

Afternoon Update: Morrison ally faces possible Liberal expulsion; first home buyers slash spending; and the 10 highest-paid Australian CEOs

Alex Hawke delayed preselections, harming party’s chances at 2022 election, a motion submitted to NSW Liberal state council claims

The Guardian - AU

New findings show a direct causal relationship between unemployment and suicide

Studies using traditional statistical methods have long indicated a link between unemployment and suicide. But until now it has been unclear if this relationship is causal. That is, even though the suicide rate is higher among the unemployed, can we definitely say unemployment directly leads to suicide?

The Conversation

The RBA wants to raise unemployment to fight inflation – but who will that hurt the most?

Groups who benefited from strong jobs growth will be the first to lose work come a recession

The Guardian - AU

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Israel's judicial reform plans lead to economic uncertainty

As protests against Israeli PM Benjamin Netanyahu's revised plans to reform the courts flare up, we take a look at the impact the controversy has had so far on the country's economy. The Israeli tech sector, which represents 15 percent of GDP, is among those most opposed to the plan.…

France 24

Jobless Claims Climb, Part-time Employment Surges In US

US Unemployment Claims Rise to 248,000, Part-time Workers Increase to 5.4 Million in June.

Zenger

U.S. weekly unemployment insurance claims rise to 248,000

New applications for U.S. unemployment insurance benefits rose 12,000 for the week ending July 1 to a seasonally adjusted 248,000. The previous week’s figure was revised down by 3,000 to 236,000. The four-week moving average as of July 1 fell 3,500 from the previous week’s revised average to 253,250.

Ballotpedia

Unemployment in Scotland rises despite businesses struggling to recruit staff

Neil Gray welcomed the low level of unemployment but warned only "an urgent reassessment" of UK immigration policy could solve the recruitment crisis.

Daily Record

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Unemployment in Wales rises to the highest rate in the UK

It also has the lowest level of employment

Wales Online

Wales has highest unemployment rate in the UK and lowest level of employment

Latest figures from the ONS shows that the unemployment rate in Wales has climbed to 5%

Birmingham Post

UK interest rates likely to rise again despite slowing labour market

Rising unemployment and slowing jobs growth will not counteract strong pay pressure

The Guardian - UK

UK wages rise at record rate as unemployment jumps unexpectedly

Average regular pay, not including bonuses, was 7.3 per cent higher in the three months to May

The Independent UK

Wages rise at record rate as unemployment jumps unexpectedly

Scotland’s estimated unemployment rate rose slightly to 3.2% during the last quarter

Insider UK

Rising mortgage rates will cause ‘financial stress’, MPs hear, as two-year fixed rates hit 15-year high – as it happened

Treasury Committee quiz lenders about mortgage rates, as two-year fixed mortgage rate rises to 6.66%, highest since 2008

The Guardian - UK

North East unemployment falls to record low for second month running

The region now has lower unemployment than regions including London and the South East

Chronicle Live

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Evening Standard

We need to ‘slay dragon’ of high inflation, says Cabinet minister as average pay jumps by record 7.3 per cent

The pay hikes will fuel fears that Britain is in the grip of an inflation spiral

The Guardian - UK

Jack’s Ride review – stylish take on the hardship of former taxi driver’s unemployment

Susana Nobre’s docufiction follows the life of Joaquim Calçada, who spent two decades in the US as an undocumented immigrant

Axios

Black unemployment rate jumps 1.3 percentage points since April

The historic employment gains notched by Black Americans during the pandemic-era recovery may be beginning to reverse — one of the disappointing details of the June jobs report out Friday.

WEKU

The job market is cooling but still surprisingly strong. Is that a good thing?

U.S. employers added 209,000 jobs in June. That's a solid number, but fewer than the month before. Here are the 5 things we took away from the report.

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Fortune

A celebrated jobs miss on Wall Street: Cooler labor market allays fears over red-hot payrolls as White House crows of ‘Bidenomics in action’

Slow and steady wins the race, and a 209,000 jobs number that missed expectations was actually sweet music for the Street.

Kiplinger

Jobs Report Shows Pace of Hiring Slowed Sharply in June: What the Experts Are Saying

A mixed jobs report won't keep the Fed from raising interest rates later this month, the pros say.

The Independent UK

US economy adds 209,000 jobs, unemployment rate stays the same

The economy adds fewer jobs than expected in June as President Joe Biden touts ‘Bidenomics’

Axios

U.S. economy adds 209,000 jobs in June

The unemployment rate edged down to 3.6%.

Fortune

The strategist who called a recession after the regional banking crisis says it already happened and nobody noticed

The catch is it's global. The heated debate about a U.S. recession is a moot point. The much bigger story is that a typical world recession has likely already started."

Tribune News Service

US job market shows fresh strength with ADP and layoff data

The U.S. labor market showed fresh signs of resilience on Thursday, as private hiring surged, layoffs slowed and filings for unemployment benefits stayed relatively low.

Al Jazeera

‘People are dying’: South Africa workers protest economic woes

South Africa is facing rolling electricity blackouts, high unemployment and growing social unrest due to economic woes.

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