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The Latest Breaking News from Unemployment

Yes, a recession looks inevitable. But it may not be that bad. Here’s why

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.

Los Angeles Times

Tunisia Urges IMF to Consider Social Impact of Reforms

Tunisian President Kais Saied on Tuesday urged the International Monetary Fund to take into account the social impact of any economic reforms it may demand as part of a bailout package. The North African country has been in preliminary discussions with the global lender for a new loan to save…

Asharq Al-Awsat

California has recovered more than $1 billion in fraudulently paid unemployment claims

SACRAMENTO, Calif. — The California Employment Development Department (EDD) has recovered $1.1 billion in fraudulent payments from federal COVID relief programs, Gov. Gavin Newsom’s office announced Tuesday.

Tribune News Service

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Is The US On The Brink Of A Recession?

Nearly 70% of academic economists recently surveyed by the Financial Times in partnership with the Initiative on Global Markets at the University of Chicago’s Booth School of Business expect the US economy to fall into a recession in 2023.

Benzinga

Iowa governor signs law to reduce duration of unemployment insurance benefits

Iowa Gov. Kim Reynolds (R) signed HF 2355 on June 16, reducing the maximum length of unemployment insurance payments from 26 weeks to 16 weeks starting July 3. The law also re-defines suitable work and will require claimants to accept jobs that pay less than their previous jobs after their…

Ballotpedia

The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

The Conversation

PM Modi forced youth to walk on ‘Agnipath’ of unemployment: Rahul Gandhi

The Congress leader said 16 crore jobs were to be given in eight years, but the youth only got knowledge on ‘frying pakoras’

The Hindu

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Federal government looks to fix, rather than dump, controversial changes to unemployment benefits

Employment Minister Tony Burke says it is "too late" to scrap controversial changes to unemployment benefits due to be introduced next month, so the government will look to alter the scheme instead.

ABC News

Thiruvananthapuram: CPM central committee backs call for Agnipath withdrawal

THIRUVANANTHAPURAM: The CPM central committee that met online on Saturday resolved to render all-out support to the call for the withdrawal of the Agnipath scheme announced by the Union government. The central committee meeting concluded that the BJP government’s move to entice the youth by projecting Agnipath as a panacea…

The Times of India

Agony path? Army big employer in Haryana

CHANDIGARH: The central government’s much-touted Agnipath scheme, through which soldiers are to be selected for a short term of four years, has created unrest among the youngsters of Haryana who were already facing the severe employment crunch. As per CMIE data for May 2022, Haryana is the worst off with…

The Times of India

Agnipath: Siddaramaiah asks PM if soldiers will be committed if they are insecure about job

Former Karnataka CM Siddaramaiah urges Modi government to drop the new military recruitment scheme

The Hindu

Waiting for jobs: On Centre’s plan to recruit 10 lakh personnel in 18 months

The Centre’s decision to recruit personnel to fill vacancies is a nod to the festering unemployment issue

The Hindu

Unemployment rate dips in first quarter of 2022: Survey

Periodic Labour Force Survey reports the unemployment rate for urban areas decreased to 8.2% in Jan.-March 2022 from 8.7% in the previous quarter

The Hindu

S African minister suggests foreigners are to blame for no jobs

High unemployment rate in South Africa has led to locals often blaming foreigners for taking jobs ‘meant’ for them.

Al Jazeera

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Tribune News Service

US jobless claims edge lower, reflecting tight labor market

Applications for U.S. unemployment insurance were little changed last week, suggesting the labor market remains exceptionally tight.

The Conversation

An extra 60,600 Australians found work in May. Here's why wages aren't moving much

The rate of unemployment remained steady at 3.9% between April and May.

ABC News

Unemployment remains at 3.9 per cent, as labour market keeps strengthening

Australia's jobs market has continued to strengthen, with unemployment remaining at 3.9 per cent last month and underemployment falling to a 14-year low.

The Guardian - US

‘Slamming on the brakes’: economists react to the Federal Reserve’s rate hike

Some economists say it will take an economic contraction and higher unemployment to bring inflation down

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The Conversation

How we invented 'unemployment' – and why we're outgrowing it

When Labor leader Anthony Albanese couldn’t quote Australia’s unemployment rate in the first week of the election campaign, many said it didn’t matter: the Australian Bureau of Statistics figure was “meaningless”; “fudged”; “manipulated”; and didn’t count all those who had registered for JobSeeker.

Benzinga

Kenyan Presidential Candidate: Legalize Cannabis And Snake Venom To Boost Economy

As Kenya faces inflation, unemployment and exorbitant public debt, George Wajackoyah, one of the four presidential candidates in the upcoming August elections, says he wants to get the economy back on track by legalizing cannabis and farming snakes.

AAP

Labour market tightens as 60,600 find work

The unemployment rate was unchanged at 3.9 per cent in April as 60,600 people joined the workforce, the Australian Bureau of Statistics says.

The Times of India

10 lakh jobs in 1.5 years: Why Varun Gandhi thanked BJP's bete noire Owaisi

NEW DELHI: It could not have been better timed. Just on Monday, dissenting BJP MP from Pilibhit in Uttar Pradesh Varun Gandhi had thanked All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi for reading out his figures on unemployment in government departments during a public rally. The very next day,…

The Conversation

The last two recessions hit young people hardest – here's how you can protect yourself for the next one

After the pandemic and now a cost of living crisis, it seems unthinkable that the economic situation could get worse. But experts are pretty certain that the UK economy will flatline in 2023, and some are even murmuring that a recession could happen this year.

The Guardian - UK

Pound falls to lowest level since pandemic crash

Unemployment rise and prospect of new Scottish independence referendum fuel recession fears

The Hindu

Unemployment has decreased, says latest labour force survey

Data show rate of joblessness fell to 4.2% in 2020-21, compared with 4.8% earlier

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