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The Latest Breaking News from Unemployment

UK jobs market ‘on the turn’ as unemployment rises; ‘terrifying’ increase in mortgage arrears – as it happened

Total pay jumps by 8.5% in the last year – ahead of inflation – while value of mortgages in arrears is now the highest in almost seven years

The Guardian - UK

FTSE 100 Live: BP boss quits, FTSE closes up 0.4% as interest rate rise fears ease, Apple down

London’s FTSE 100 re-took the 7500-point mark helped by rallying banks as investors absorb jobs and wages data into the Bank of England’s next rate call later this month.

Evening Standard

UK pay rises at record rate despite growth in unemployment

Figures will add to Bank of England’s dilemma over whether to increase interest rates again next week

The Guardian - UK

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AAP leader interacts with youth in Haryana

Anurag Dhanda, AAP senior VP, interacted with youth in Kurukshetra and led a bike rally. He criticized the ruling coalition for alleged corruption in recruitment exams and not conducting elections in colleges/universities. He said youth in Haryana are suffering from unemployment and are forced to go abroad. He accused JJP…

The Hindu

Is the worst behind us? What unemployment data for metro Chicago indicates

For the first time since before the pandemic, metro Chicago posted jobless rates below 4% across three consecutive months.

Chicago Sun-Times

U.S. weekly unemployment insurance claims fall to 216,000

New applications for U.S. unemployment insurance benefits fell 13,000 for the week ending September 2 to a seasonally adjusted 216,000. The previous week’s figure was revised up by 1,000 to 229,000. The four-week moving average as of September 2 fell 8,500 from the previous week’s revised average to 229,250.

Ballotpedia

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

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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

‘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

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

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The Hindu

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 Guardian - UK

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

WEKU

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.

Barchart

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...

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The Independent UK

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

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.

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.

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