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The Latest Breaking News from Unemployment

New Jobs Report Shows Unemployment Back to Pre-Pandemic Levels

The better-than-expected employment numbers are fueling investors' inflation fears and causing the stock market to fall.

Reason

Bombshell Jobs Report: All Pandemic Jobs Lost Restored, Flipping Recession Script And Fueling Inflation, Fed Fears

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 0.8% Friday morning after the Labor Department reported encouraging U.S. jobs market numbers from July.

Benzinga

The job market got even better, in a surprisingly positive sign for the economy

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

WEKU

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US unemployment rate drops to 3.5 per cent amid ‘widespread’ job growth

‘Both total nonfarm employment and the unemployment rate have returned to their February 2020 pre-pandemic levels’

The Independent UK

Recession forecast explained: What you need to know

The UK’s central bank has predicted a long recession and eye-watering inflation

The Independent UK

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

The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended

The Independent UK

As recession fears grow, strong US hiring is likely slowing

The American job market has defied raging inflation, rising interest rates, growing recession fears

The Independent UK

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Wearing black clothes, Congress MPs stage protest in Parliament

NEW DELHI: Wearing black clothes, Congress MPs, led by party chief Sonia Gandhi and Rahul Gandhi, staged a protest in the Parliament House complex on Friday as they marched towards the Rashtrapati Bhavan as part of their nationwide stir against price rise, the GST hike on essential items and unemployment.

The Times of India

Congress Protest: Nationwide on issues of inflation, unemployment

The protesters, which include members of the Congress Working Committee (CWC) - the highest decision-making body of the party are expected to participate in "PM House gherao" later in the day. The party's state units will hold similar protests across the country. Full story on Dynamite News:

Dynamite News

India is witnessing death of democracy, says Rahul Gandhi

Congress holds nationwide protests against price rise, unemployment and imposition of GST on essential commodities

The Hindu

U.S. weekly unemployment insurance claims fall to 256,000

New applications for U.S. unemployment insurance benefits fell 5,000 for the week ending July 23 to a seasonally adjusted 256,000. The previous week’s figure was revised up from 251,000 to 261,000. The four-week moving average as of July 23 rose to 249,250 from a revised 243,000 as of the week…

Ballotpedia

US jobless claims climb again, near highest since November

Unemployment claims have been on the rise the last few months, perhaps signaling a slowing labour market.

Al Jazeera

Five reasons why the four-day week won't work

The four-day working week continues to gain momentum, with pilots taking place in the UK, Ireland, US, Canada and Australia. Over six-month periods between February and November, employees at participating businesses are working only 80% of their time but still receiving 100% of their salary and benefits.

The Conversation

Mandurah's homelessness, high unemployment, and mental health battles highlighted in reports

As wet weather lashes Perth's southern regions Kirsty Buchanan is spending her nights on the cold, rainy, streets of Mandurah — one of many in the seaside city doing it tough.

ABC News

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The Guardian - AU

Australia’s economy is set to grow slower than it ever has outside of recession. This is bad news for our standard of living

The economic growth forecasts are truly dire and point to rising unemployment and falling wages growth

The Guardian - AU

Peak unemployment bodies say raising jobseeker rate should take priority over lifting pension income test

‘Completely around the wrong way’ to allow pensioners to work more without losing pay while jobseeker remains unchanged, advocates say

Benzinga

Is It A Good Idea To Get A Mortgage In A Recession? Find Out Now

The home-buying market screamed its way into every publication you read and every dinner-table conversation you participated in for the past year. Not only did people pay the listed price for a home, they fought to outbid each other.

The Times of India

India's unemployment lowest in 6 months at 6.80% in July: CMIE

MUMBAI: The country's unemployment rate in July fell to 6.80 per cent, the lowest level in the last six months, amid rising agriculture activities during monsoon, according to Centre for Monitoring Indian Economy (CMIE) data.

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ABC News

Government flags possible reform of $7b Workforce Australia jobseeker program a month after launching it

The government is creating a parliamentary committee to examine the rollout of Workforce Australia, the new unemployment services program that is barely a month old.

The Hindu

Kejriwal promises jobs and unemployment allowance in Gujarat

Arvind Kejriwal slammed the Gujarat Government for failing to provide jobs or generate employment for the youth of the State

The Hindu

Attempts being made to wind up PDS, says AIDWA

Unemployment among women is a serious problem: Mariam Dhawale

The Times of India

NITI Aayog has dismissed unemployment figures of CMIE, says Haryana CM Manohar Lal Khattar

CHANDIGARH: Haryana chief minister Manohar Lal Khattar said on Monday that the NITI Aayog has dismissed the unemployment figures of CMIE as baseless. In fact, the unemployment rate in Haryana is only 8 percent and in the direction of reducing it, work is being done to hone the skills of…

The Times of India

NITI Aayog has dimissed the Unemployment figures of CMIE, says Haryana CM Manohar Lal Khattar

France 24

Who are the eight economists who decide when the US is in a recession?

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

The Conversation

South Africa is trapped again: what kind of leaders can set the country free

Former South African president Thabo Mbeki recently painted a gloomy picture of the country and its prospects. He said the governing African National Congress (ANC), led by President Cyril Ramaphosa, did not have a national plan to address the country’s many socio-economic problems. These include high and growing unemployment, inequality,…

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