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The Latest Breaking News from Unemployment

May Jobs Report Keeps Fed on Track for Half-Point Rate Rises

The strong employment figures released Friday keep the Federal Reserve firmly on track to raise interest rates by a half-percentage point at its meeting in two weeks and again in late July to cool high inflation.

Bangkok Post

UK government’s £2.9bn job search scheme has put only 7% of participants in work to date

Intensive ‘Restart’ programme is also struggling to find enough participants to meet predicted caseload

The Guardian - UK

Biden's challenge: Inflation overshadows robust job gains

President Joe Biden came before the television cameras Friday to celebrate yet another month of healthy job growth and low unemployment and the fastest pace of hiring in four decades under his watch

The Independent UK

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Colorado governor signs law to direct federal funds to repay unemployment insurance debt

Colorado Gov. Jared Polis (D) on May 25 signed SB22-234, which will direct $600 million of federal American Rescue Plan Act (ARPA) funds to help pay back the state’s $1 billion unemployment insurance trust fund debt to the federal government.

Ballotpedia

Kansas governor announces start of unemployment insurance modernization effort

Kansas Gov. Laura Kelly (D) announced June 2 that the Kansas Department of Labor (KDL) has started what it describes as its effort to modernize the state’s unemployment insurance system. Kelly said the project will take 26 months and cost roughly $48 million.

Ballotpedia

U.S. weekly unemployment insurance claims fall to 200,000

New applications for U.S. unemployment insurance benefits fell 11,000 for the week ending May 28 to a seasonally adjusted 200,000. The previous week’s figure was revised up from 210,000 to 211,000. The four-week moving average as of May 28 fell to 206,500 from a revised 207,000 as of the week…

Ballotpedia

Growth in US jobs continued in May, continuing a 17-month streak of gains

Unemployment rate holds at 3.6% for third month but rate for Black Americans is nearly twice that of white people

The Guardian - US

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The job market stays red-hot with the unemployment rate near a pre-pandemic low

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

WEKU

‘A certain stigma’: Spain’s hospitality sector hit by waiter shortage

Despite huge national unemployment, restaurants owners are struggling to fill vacancies. Why?

The Guardian - UK

Economic Data Scheduled For Friday

US jobs report for May is scheduled for release at 8:30 a.m. ET. A 325,000 increase is expected for nonfarm payroll growth in May compared with 428,000 April. Analysts expect unemployment rate declining to 3.5% in May from 3.6% in April. US Services Purchasing Managers' Index for May will be released…

Benzinga

Doubts linger over job situation

The government's planning unit, the National Economic and Social Development Council (NESDC), reported on May 23 Thailand's unemployment rate dropped in the first quarter to its lowest level since the start of the pandemic, boosted by higher employment in both the agricultural and non-agricultural sectors, as the economy gradually recovers.

Bangkok Post

Shanghai enters post-lockdown life, but China's COVID-zero policy will haunt the younger generation

From unemployment to lockdowns, China's young people are facing intense challenges, and the pressure is on Xi Jinping to fix the situation before the birth rate plummets any further.

ABC News

South Africa's economy has taken some heavy body blows: can it recover?

Economists are growing increasingly concerned about South Africa’s economy. This is because the country’s three major macroeconomic problems – lacklustre economic growth, growing inflation and very high unemployment – have been exacerbated by a series of major disruptions.

The Conversation

Fewer Americans apply for unemployment benefits last week

Fewer Americans applied for jobless aid last week and the number of Americans collecting unemployment remain at historically low levels

The Independent UK

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Tribune News Service

US job openings decline from record while remaining elevated

U.S. job openings fell in April from a record in the prior month though remained elevated at roughly double the number of unemployed Americans, suggesting little relief for employers struggling to attract and retain workers.

The Conversation

Zimbabwe's 2023 elections: how to judge candidates' social protection promises

Zimbabwe is heading for general polls in 2023 amid an ongoing macroeconomic crisis. In the decade starting from 2001, the state-led economy started to show signs of strain. Unemployment reached 85%. Inflation, which was a staggering 79,000,000% in 2008, came down but has been rising in the past two years.…

Businessweek

China Youth Unemployment Crisis Leaves Tens of Millions Jobless

Covid lockdowns and the government campaign to rein in private tutoring and tech companies have made positions even harder to come by.

The Independent UK

Biden’s Pride month proclamation condemns ‘unconscionable attacks’ from anti-LGBT+ legislation

US president urges nation to address high rates of youth suicides and disproportionate levels of poverty, unemployment and homelessness among LGBT+ Americans

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The Conversation

Wages: why are they not keeping up with inflation?

There has been a huge amount of concern about rising inflation in recent months, and it’s made worse by the fact that wage inflation has not been keeping up. A few workers in high-paid jobs have enjoyed higher bonuses and inflation-busting pay rises – it has just been reported that…

The Hindu

U.P. Assembly: Samajwadi Party MLAs walkout over issue of unemployment

"Our Ministry has nothing to do with the number of government jobs provided in past years," said U.P. Labour Minister Anil Rajbhar

The Independent UK

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation

Tribune News Service

US jobless claims fall more than forecast in tight labor market

Applications for U.S. unemployment insurance declined last week by more than forecast, underscoring a persistently tight labor market.

The Hindu

Eight years of Narendra Modi government marked by eight deceits, says Congress

Acche din only for a select group: Congress

The Independent UK

Fewer Americans apply for jobless benefits last week

Fewer Americans applied for jobless aid last week as the number of Americans collecting unemployment benefits remains near five-decade lows

Tribune News Service

Fragile job gains for Black workers at stake in inflation fight

For Black Americans, job prospects have improved since 2020. That’s the good news.

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