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The Latest Breaking News from Unemployment

Up First briefing: Hurricane Lee grows; Danny Masterson sentenced; Maui needs tourism

Forecasters say the Category 5 hurricane could see "remarkable rates of intensification." That '70s Show actor Masterson faces 30 years to life for rape. Without tourism, unemployment surges in Maui.

WEKU

Do subsidies and safety nets take focus away from generating jobs?

The Hindu Parley discussion on whether poll promises are a distraction from providing solutions to what appears to be a systemic concern – jobless growth?

The Hindu

Maui beckons tourists, and their dollars, to stave off economic disaster after wildfires

So few tourists are coming to the Hawaiian island of Maui after last month's wildfires that restaurants and tour companies are laying off workers and unemployment is surging

The Independent UK

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‘The death of this economy was greatly exaggerated’: Initial jobless claims just fell to their lowest level since February, increasing the odds of a soft landing

Strong initial claims data is evidence that a recession in 2023 is looking less likely, many economists say.

Fortune

US applications for unemployment benefits fall to lowest level in 7 months

The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months, another sign that the labor market remains largely unaffected by higher interest rates

The Independent UK

California legislators introduce bill proposing unemployment benefits for striking workers

The California State Assembly advanced a bill in late August that proposed allowing striking workers to claim unemployment insurance benefits after striking for two weeks. The deadline for introducing new legislation had passed, so legislators rewrote Senate Bill 799, which previously related to corrections and criminal rehabilitation, to propose expanding…

Ballotpedia

The odds of a recession are now just 15% because fading inflation and a strong labor market are changing the equation, Goldman Sachs says

Positive inflation and labor data has prompted Goldman Sachs' chief economist to rethink the probability of a recession in the next 12 months.

Fortune

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George Santos plays down talk of plea deal in fraud case

Controversial New York Republican denies embezzling money from his campaign, falsely receiving unemployment funds and lying to Congress about his finances

The Independent UK

PM Modi interview | BJP hails PM’s vision, Opposition flags unemployment

In the interview, Prime Minister Modi said his government’s decision to host G-20 events across the country is an investment in capacity-building among people, cities and institutions.

The Hindu

Are your parkrun times getting slower? Just blame it on the economy

Research into the Saturday 5k events reveals the over-50s run faster in recessions

The Guardian - UK

With Johannesburg's building fire, the misery of gang-hijacked towers comes into focus

People desperate for housing in a country with sky-high unemployment have taken to squatting in squalid conditions in former office buildings that are rented out by criminal gangs.

WEKU

Stocks Mixed as Higher Bond Yields Weigh on Tech Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.26%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.39%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.20%. Stock indexes this morning are mixed, with the S&P...

Barchart

US economy adds 187,000 jobs, beating expectations

The unemployment rate jumps to 3.8 per cent, with the trucking industry hit hard by closure of giant firm

The Independent UK

US applications for jobless claims inch back down as companies hold on to their employees

U.S. applications for unemployment benefits fell slightly last week as businesses continue to retain employees in an economy that has largely withstood rapidly rising interest rates for more than a year

The Independent UK

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Barchart

S&P Futures Tick Higher Ahead of Key U.S. Inflation Data

September S&P 500 futures (ESU23) are trending up +0.06% this morning as market participants looked ahead to a reading on the Federal Reserve’s preferred inflation gauge.

The Hindu

Hooda blames BJP-JJP Government in Haryana for bringing State to a standstill

Bhupinder Singh Hooda, former Haryana CM and current leader of the Opposition, criticized the ruling BJP-JJP govt for failing on all fronts, causing inflation to rise 4x, unemployment 3x, and pushing the state into a debt trap. Unemployment rate is 8.8%, 2.02 lakh govt posts are vacant, and 12 unemployed…

The Guardian - AU

Deloitte joins RBA in tipping 4.5% Australian jobless rate thanks to slow consumer spending

Slowdown in consumer is finally flowing through to Australia’s jobs market, according to the latest forecasts from Deloitte Access Economics

The Hindu

Congress to support SP candidate in Ghosi byelection

Congress supports SP in Ghosi bypolls; RLD extends support. INDIA bloc seeks to protect India's democracy, combat rising unemployment, tensions between communities.

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Fortune

China's $18 trillion economy has indigestion—and the factory of the world could export its deflation and growth problems globally

"If you get a scenario where China is really in crisis and exporting deflation, I can see where that actually filters through the United States," said an international economist at Wells Fargo.

The Independent UK

Nigeria's unemployment rate falls to 4.1%, using new methodology. Analysts say it’s an undercount

Nigeria's statistics agency says the unemployment rate now stands at 4.1%

The Independent UK

California may pay unemployment to striking workers. But the fund to cover it is already insolvent

Some California lawmakers want to make striking workers eligible for unemployment benefits

Reason

California Lawmakers Propose Unemployment Benefits for Striking Workers

Plus: GOP hopefuls debate tonight, Canadian link tax backfires, and more...

France 24

Zimbabwe's economic woes: Hyperinflation, a currency slump and high unemployment

As Zimbabweans head to the polls this Wednesday, we take a look at the dire economic straits the country finds itself in. Inflation has gone from the single digits in 2017 to 77 percent this month, the currency has crashed against the US dollar, and high unemployment has led many…

StockNews.com

Who Wins the Battle Over 4,400?

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…

The Guardian - UK

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

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