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The Latest Breaking News from Unemployment

How low will stocks go? That is the question on everyone’s mind as the recent highs for the S&P 500 (SPY) seem like a distant memory as stocks have been going the wrong direction for the entirety of August. Investment expert Steve Reitmeister the causes of the recent sell off…

StockNews.com

Zimbabwe goes to polls amid deepening economic crisis

Promises to get inflation and unemployment on track after decades of Mugabe rule have failed to materialise

The Guardian - UK

U.S. weekly unemployment insurance claims fall to 239,000

New applications for U.S. unemployment insurance benefits fell 11,000 for the week ending August 12 to a seasonally adjusted 239,000. The previous week’s figure was revised up by 2,000 to 250,000. The four-week moving average as of August 12 rose 2,750 from the previous week’s revised average to 234,250.

Ballotpedia

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AAP announced 10 poll promises for Chhattisgarh, including unemployment allowance and free electricity

AAP unveils 10 poll guarantees for Chhattisgarh, including ₹1,000 for select women, ₹3,000 unemployment allowance, free electricity and ₹1cr for families of security personnel who die on duty. Kejriwal takes dig at Congress government and claims Delhi's schools better. INDIA bloc dynamics allow BJP to question AAP's credentials.

The Hindu

Australian unemployment rate rises to 3.7% as economy sheds 14,600 jobs in July

Latest jobless rate higher than economists predicted, Bureau of Statistics unemployment figures show

The Guardian - AU

Japan has gone its own way on fighting inflation – can NZ learn from a global outlier?

Like most countries over the past three years, New Zealand has tried to manage inflation by increasing interest rates. Japan, on the other hand, has taken a different tack – with clear success.

The Conversation

It’s good news that real wages are no longer falling – but the fall has already been deep

Wages rose modestly in the June quarter but so did inflation. The average wage now buys you the same amount as it did in 2009

The Guardian - AU

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The 'richcession' is real—Unemployment is rising for the 6-figure salary set, BofA data shows

People making $125,000 and more are getting laid off faster than anyone else, in a reversal of the typical recession playbook.

Fortune

The Bank of England won’t stop raising interest rates until unemployment is far higher

City Comment: Andrew Bailey and Co will feel they have no other choice

Evening Standard

China wants people to stop talking about its terrible economy

21.3% of those aged between 16 and 24 were unemployed in June, and July's figure was likely to have been even worse.

Fortune

Scottish unemployment figure up but below UK average

Scotland’s unemployment rate has jumped to four per cent as new figures showed a rise in the number of people out of work.

The National (Scotland)

Congress created new India but KCR and Modi are enjoying the fruits, says Revanth Reddy

Telangana Congress president Revanth Reddy says CM KCR is desperate to win next elections, making false promises. He urges people to remember Mahatma Gandhi, Ambedkar & Nehru who made India what it is today. He accuses BJP of dividing people & Modi of creating new records in unemployment & debt.

The Hindu

UK basic wage growth hits record high; Russia’s central bank lifts rates to 12% – as it happened

UK regular pay growth highest since 2001 while unemployment rate rises unexpectedly; rouble recovers afters Bank of Russia raises rates at extraordinary meeting

The Guardian - UK

Bank of England may hike interest rates after record increase in wages

Regular pay grows by 7.8 per cent in three months – sparking ‘migraine’ for central bank

The Independent UK

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Evening Standard

FTSE 100 Live: ‘Little doubt interest rates rise again’ after record pay growth, unemployment up to 4.2%

The UK unemployment rate rose to 4.2% in June, it was revealed today, despite expectations that it would remain at 4%.

Ballotpedia

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

New applications for U.S. unemployment insurance benefits rose 21,000 for the week ending August 5 to a seasonally adjusted 248,000. The previous week’s figure was unrevised. The four-week moving average as of August 5 rose 2,750 from the previous week’s unrevised average to 231,000.

The Independent UK

South Africa's unemployment is a 'ticking time bomb.' Anger rises with millions jobless

South Africa's official unemployment rate of 33% is the highest in the world, outstripping those of Gaza and the West Bank, Djibouti and Kosovo

The Conversation

We can and should keep unemployment below 4%, says our survey of top economists

Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%.

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Evening Standard

London is a beacon for talent, so why is our unemployment rate higher than the national average?

City Voices: The capital’s skills system needs drastic change to get Londoners into good jobs

Evening Standard

London business groups team up to deliver plan for ‘higher-paying jobs’

Unemployment in London has consistently been higher than the UK average, despite the capital being the main driver of the UK economy

USAFacts

How to use government data

The US government generates data on everything from unemployment rates to the status of endangered marine mammals. Here’s why that’s important.

The Week

Early retirees: should they get on their bikes?

Although for decades he was greeted by cries of “on your bike” wherever he went, Norman Tebbit never told anyone to get on a bike, said John Elledge in The New Statesman. He merely recalled, at the Tory conference in 1981, that during the Depression, his father had pedalled around…

The Guardian - UK

China’s economy is struggling but fears of sustained deflation are premature

Trade with rest of world is shrinking and youth unemployment is at 20% but state interventions are expected

Ballotpedia

Wisconsin governor vetoes unemployment insurance changes

Wisconsin Gov. Tony Evers (D) on August 4 vetoed five bills related to unemployment insurance. The bills in the package included the following proposals:

Fortune

China’s record high 21% youth unemployment could actually be as high as 46.5%. Blame fake jobs and 16 million workers ‘lying flat’

In an attempt to fix misleading unemployment data, China is cracking down on universities that fudge employment numbers for their graduates.

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