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The Latest Breaking News from Unemployment

Wednesday briefing: Why young people are bearing the brunt of the unemployment crisis

In today’s newsletter: Almost 1.8 million people in the UK class themselves as unemployed, and it’s the youth who are driving it. What can be done to help, and will things get better (or worse)?

The Guardian - UK

Job Market Pessimism Among Americans Hovers At Record Highs: 'Fears of Unemployment Have Never Been This Elevated'

Job market pessimism among Americans has reached alarming levels, with a dramatic surge in fears about unemployment and job security in recent weeks.

Benzinga

Feel like you can’t get a job? You’re not alone — but here’s how to work around it

You did everything they told you to do. You earned the credentials, spent hours on your resume and revised multiple cover letters. You worked side gigs, volunteered, learned new software and perfected your LinkedIn profile. Yet, you can’t get a callback for an interview.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

I Asked ChatGPT What Would Happen If the Government Shutdown Lasted Until 2026: Here’s What It Said

A long federal shutdown could impact everything from GDP and stocks to unemployment and consumer spending. See ChatGPT’s projections and expert warnings.

GOBankingRates

Welcome to the era of 'low-hire, more-fire,' warns top economist—the days of talent hoarding are over

"As the focus among businesses now turns to efficiencies and increasing productivity, we expect layoffs to increase, causing unemployment to rise."

Fortune

Rising unemployment could affect budget, interest rates, pay and more

Rachel Reeves will need to avoid depressing economy and hitting jobs while raising billions in extra tax

The Guardian - UK

Unemployment rate hits highest outside Covid years for almost a decade

Experts said the weaker-than-expected figures reinforce the case for the Bank of England to cut interest rates next month.

Evening Standard

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Jobless rate hits highest since early 2021 amid ‘weakening’ labour market

The ONS said the unemployment rate rose to 5% in the three months to September, up from 4.8% in the three months to August.

Evening Standard

Jobless rate hits highest since Covid in blow to Reeves before Budget

The ONS said the unemployment rate rose to 5% in the three months to September

The Independent UK

London unemployment hits 11-year high as Reeves National Insurance rise batters pubs, shops and hotels

Grim jobless figures make a December interest rate cut from the Bank of England a near certainty

Evening Standard

Tech shares slide after SoftBank sells Nvidia stake; UK interest rate cut expected in December – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

FTSE 100 Live 11 November: Blue-chip record run continues, Vodafone dividend cheer

Weaker-than-expected labour market figures today boosted the chances of a December interest rate cut.

Evening Standard

UK unemployment rises to 5%, the highest level in four years

ONS says jobs market worsening before budget, as HMRC reports falling number of workers on firms’ payrolls

The Guardian - UK

'Yikes': Top investment bank looks under the hood of the economy and finds 'the labor market doesn't look that good'

We've heard the labor market is in a "low-hire, low-fire" kind of environment. The "low hire" part seems to be true, the other not so much.

Fortune

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Bored Panda

Woman Realizes She Doesn’t Need A Jobless Partner Who Costs More Than He Brings In, Kicks Him To The Curb

She was supportive when he first lost his job but it's been months now. Not only is he not contributing financially, or helping out around the house, but he's also turned down three job offers because they weren't quite to his liking. Meanwhile, she's footing the bill for his voluntary…

The Guardian - UK

Review to look at role of mental health issues in UK youth unemployment

Former health secretary Alan Milburn’s review is exploring reasons for rising inactivity among young people

AAP

Economy heads for first major test since RBA rate hold

Australia's volatile unemployment rate is expected to tick back down to 4.4 per cent, which would add little urgency for the Reserve Bank to cut interest rates.

The Guardian - UK

‘A job is like finding a needle in a haystack’: how Dudley became centre of UK’s youth jobs crisis

Almost one in five school-leavers in West Midlands town are not in education, employment or training and chancellor is under pressure to deliver promised ‘youth guarantee’

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news in one place.

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The Independent UK

'No hire' job market leaves unemployed in limbo as threats to economy multiply

The unemployment rate is low and the economy is still growing, but those out of work face the slowest pace of hiring in more than a decade

The Guardian - AU

The RBA predicts inflation will rise faster than wages. Let’s hope it’s wrong

If the Reserve Bank is right, then by the end of 2027 the average wage will only have the same purchasing power as it did at the end of 2011

Reason

Washington's State Capital Just Voted Against Increasing the Minimum Wage, Unemployment

Olympia residents apparently learned from Seattle’s experience that minimum wage hikes do not improve the welfare of the worst off in society.

The Conversation

Sex for money: South African study reveals the harm that ‘blessers’ can do to young women

A “blesser” is typically an older, relatively wealthier man who provides a younger woman with money, gifts, school fees or lifestyle access in exchange for a relationship that includes sex. Similar arrangements exist around the world, often called “sugar-daddy” relationships, but the South African version is closely tied to extreme…

Axios

Unemployment benefits in jeopardy in shutdown, but not as dire as SNAP

The risks are less dire than for food assistance.

AAP

New Zealand unemployment up to nine-year high

It's hoped a soaring 5.3 per cent unemployment figure in New Zealand will be the peak of the pain felt by job-hunting Kiwis.

AAP

Sticky inflation cruels chances of interest rate relief

Borrowers face the possibility of interest rates going up rather than down again after the Reserve Bank held steady following a spike in inflation.

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