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The Latest Breaking News from Unemployment

Liz Truss: are the Conservatives facing an electoral meltdown?

The Conservative party is heading into its annual conference amid the catastrophic fallout from Chancellor Kwasi Kwarteng’s mini-budget. The decision to cut tax without a plan to pay for it caused a sharp fall in the value of the pound on currency markets, which reached an all-time low against the…

The Conversation

Ramesh Ponnuru: The moral case for higher interest rates

Federal Reserve Chair Jerome Powell’s efforts to cool down the economy are causing progressive criticism to heat up. He has been accused of wanting a “brutal” recession, trying to “throw millions of Americans out of work” and using “dangerous” rhetoric. And those are the comments of just one senator, Elizabeth…

Tribune News Service

Lackluster employment numbers signal economic slowdown for Texas, Dallas Fed says

A new report shows the number of employed Texans remained virtually unchanged from July to August, while unemployment ticked up slightly.

The Texas Tribune

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How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Gavin Newsom shoots down bill to offer unemployment help to undocumented Californians

SACRAMENTO, Calif. — Gov. Gavin Newsom late Wednesday vetoed a bill that would have made undocumented immigrants eligible for California unemployment benefits.

Tribune News Service

US jobless claims fall unexpectedly to lowest since late April

Applications for U.S. unemployment insurance dropped unexpectedly to a five-month low, led by a sizable decline in Michigan, suggesting robust demand for workers amid economic uncertainty.

Tribune News Service

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Fewer people seek US unemployment aid amid solid hiring

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy

The Independent UK

Saudi Unemployment Rate Drops to 9.7% in Q2 of 2022

The General Authority for Statistics (GASTAT) said Thursday that the Saudi unemployment rate has decreased to 9.7% in the second quarter, compared to 10.1% in the first quarter of 2022. According to GASTAT’s Labor Market Publication for the second quarter of 2022, the total unemployment rate (for Saudis and non-Saudis)…

Asharq Al-Awsat

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now

The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will also see forecasts for unemployment revised as a "consequence" of a deteriorating global outlook, the treasurer has flagged.

ABC News

'Decarbonisation is too expensive' – how to sell climate change action to bean counters

The three most prevalent myths about tackling climate change allege that transitioning to renewable energy jacks up household bills, requires massive amounts of government subsidy and creates mass unemployment. These concerns are all (thankfully) false.

The Conversation

Caravan pressures Gov. Newsom to extend unemployment benefits to undocumented Californians

SACRAMENTO, Calif. — With hundreds of bills awaiting Gov. Gavin Newsom’s veto or approval, dozens of undocumented immigrant workers and allies are crossing the state in a two-day vehicle caravan to pressure him to sign legislation that would extend unemployment benefits to all Californians regardless of immigration status.

Tribune News Service

Unemployment data shows Kentucky has recovered jobs lost in the pandemic

WEKU

Tunisian Official Arrested over Street Vendor’s Suicide that Sparked Protests

Tunisian security authorities arrested on Monday the mayor of Mornag, a town south of Tunisia, after the suicide of an unlicensed street vendor whose scale was seized by municipal police. The vendor, Mohamed Amine Dridi, 25, hanged himself on Saturday, two days after municipal police prevented him from selling fruits…

Asharq Al-Awsat

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Los Angeles Times

Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

Newsroom.co.nz

An inflation primer: No painless escape route is apparent

Hard times make for bad thinking.

The Independent UK

Boston Fed's Collins says 'higher unemployment' needed

Susan Collins, the new president of the Federal Reserve Bank of Boston, said says that a higher unemployment rate will be needed to bring down inflation from unusually high levels, but suggested any economic downturn would likely be modest

Daily Mirror

UK on 'highway to hell' after 'most unjust' budget in decades says Labour's Jon Ashworth

Labour frontbencher Jonathan Ashworth told the Mirror the Government was “writing off” hundreds of thousands of jobless older people - and pledged to help them find employment

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The Hindu

Bandi creating venomous atmosphere in Telangana: Bhatti

‘State BJP chief did not have answers for rising fuel prices, unemployment’

Chicago Sun-Times

More alarming numbers about the huge scale of pandemic fraud

A new estimate says $45.6 billion in fraudulent unemployment insurance claims were filed between March 2020 and April 2022.

The Hindu

Kavitha asks BJP to check inflation, unemployment

HYDERABAD

Benzinga

Why You Should Care About The Latest Interest Rate Hike: From Mortgages To Personal Loans, Credit Cards And The Job Market

Wednesday marked the last day of summer as well as the confirmation of a new hike to the federal funds rate of 0.75%.

The Hindu

U.P. government has no plans to give unemployment allowance: Employment Minister

The Minister was replying to a question raised by BSP leader Umashankar Singh in the legislative assembly

Tribune News Service

Jonathan Levin: Fed splits the difference on labor market pain

The Federal Reserve is inching toward acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists.

Axios

The Fed says this is going to hurt, but it matters who feels the pain

Higher unemployment could be on the way, the central bank suggests.

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