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The Latest Breaking News from Unemployment

China wants people to stop talking about its terrible economy

21.3% of those aged between 16 and 24 were unemployed in June, and July's figure was likely to have been even worse.

Fortune

Scottish unemployment figure up but below UK average

Scotland’s unemployment rate has jumped to four per cent as new figures showed a rise in the number of people out of work.

The National (Scotland)

Congress created new India but KCR and Modi are enjoying the fruits, says Revanth Reddy

Telangana Congress president Revanth Reddy says CM KCR is desperate to win next elections, making false promises. He urges people to remember Mahatma Gandhi, Ambedkar & Nehru who made India what it is today. He accuses BJP of dividing people & Modi of creating new records in unemployment & debt.

The Hindu

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UK basic wage growth hits record high; Russia’s central bank lifts rates to 12% – as it happened

UK regular pay growth highest since 2001 while unemployment rate rises unexpectedly; rouble recovers afters Bank of Russia raises rates at extraordinary meeting

The Guardian - UK

Bank of England may hike interest rates after record increase in wages

Regular pay grows by 7.8 per cent in three months – sparking ‘migraine’ for central bank

The Independent UK

FTSE 100 Live: ‘Little doubt interest rates rise again’ after record pay growth, unemployment up to 4.2%

The UK unemployment rate rose to 4.2% in June, it was revealed today, despite expectations that it would remain at 4%.

Evening Standard

U.S. weekly unemployment insurance claims rise to 248,000

New applications for U.S. unemployment insurance benefits rose 21,000 for the week ending August 5 to a seasonally adjusted 248,000. The previous week’s figure was unrevised. The four-week moving average as of August 5 rose 2,750 from the previous week’s unrevised average to 231,000.

Ballotpedia

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South Africa's unemployment is a 'ticking time bomb.' Anger rises with millions jobless

South Africa's official unemployment rate of 33% is the highest in the world, outstripping those of Gaza and the West Bank, Djibouti and Kosovo

The Independent UK

We can and should keep unemployment below 4%, says our survey of top economists

Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%.

The Conversation

London is a beacon for talent, so why is our unemployment rate higher than the national average?

City Voices: The capital’s skills system needs drastic change to get Londoners into good jobs

Evening Standard

London business groups team up to deliver plan for ‘higher-paying jobs’

Unemployment in London has consistently been higher than the UK average, despite the capital being the main driver of the UK economy

Evening Standard

How to use government data

The US government generates data on everything from unemployment rates to the status of endangered marine mammals. Here’s why that’s important.

USAFacts

Early retirees: should they get on their bikes?

Although for decades he was greeted by cries of “on your bike” wherever he went, Norman Tebbit never told anyone to get on a bike, said John Elledge in The New Statesman. He merely recalled, at the Tory conference in 1981, that during the Depression, his father had pedalled around…

The Week

China’s economy is struggling but fears of sustained deflation are premature

Trade with rest of world is shrinking and youth unemployment is at 20% but state interventions are expected

The Guardian - UK

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Ballotpedia

Wisconsin governor vetoes unemployment insurance changes

Wisconsin Gov. Tony Evers (D) on August 4 vetoed five bills related to unemployment insurance. The bills in the package included the following proposals:

Fortune

China’s record high 21% youth unemployment could actually be as high as 46.5%. Blame fake jobs and 16 million workers ‘lying flat’

In an attempt to fix misleading unemployment data, China is cracking down on universities that fudge employment numbers for their graduates.

The Hindu

Adityanath hails U.P. recruitment process in Assembly, counters Akhilesh

CM Adityanath and Opposition Leader Yadav locked in war of words over education, employment. Adityanath highlighted success of BJP rule in conducting cheating-free exams, reducing unemployment rate from 19% to 3-4%. Khanna tabled report of 1983 Moradabad riots, absolving State Police from any blame.

Dynamite News

Highlights Of Dimple Yadav's Speech In Lok Sabha: Attacks Modi Govt on Manipur horror, women issues, unemployment, inflation

Mainpuri MP Dimple Yadav was speaking during the discussion on the no-confidence motion in the Lok Sabha. Must read further on Dynamite news:

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Zenger

Global Markets Today While US Was Sleeping

On Friday, August 4, the U.S. markets ended lower as investors assessed the latest batch of jobs data

The Hindu

Bhatti urges government not to resume assigned lands for any reason

CLP Leader M. Bhatti Vikramarka requested State govt not to resume assigned lands for public/community purpose. 8-10K acres given to multi-nationals & Pharma City. High unemployment & denial of RoFR pattas to tribal families. CM announced ₹5K honorarium to 7K imams & mauzams. BJP suggested writing off ₹10K cr interest…

Chicago Sun-Times

State mismanagement let unemployment insurance fraud run rampant

The recent report by the state’s auditor general makes it clear that the Illinois Department of Employment Security was negligent and incompetent in performing its duties.

WEKU

The case for a soft landing in the economy just got another boost

U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.

Kiplinger

Jobs Report Shows Pace of Hiring Slowed in July: What the Experts Are Saying

A mixed jobs report should keep the Fed on track to leave interest rates unchanged at its next meeting, experts say.

The Conversation

UK interest rates: crashing the economy is no way to bring down inflation

The Bank of England (BoE) has raised interest rates once again to 5.25%, mirroring similar moves by the Federal Reserve and the European Central Bank. The fact that the UK is still suffering from high inflation – higher than either the US or eurozone – made another rate rise appear…

WEKU

The U.S. added jobs at a solid pace in July, reinforcing hopes about the economy

U.S. employers added 187,000 jobs in July, still marking a steady pace of growth. The unemployment rate edged down to 3.5%.

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