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The Latest Breaking News from Unemployment

What are the odds? The RBA has raised interest rates – for no real reason other than to meet the desires of speculators

The prospect of a cash rate increase on Tuesday changed dramatically over the past month. One wonders if the Reserve Bank listened more to the commentariat than the data

The Guardian - AU

Grim forecasts for Aussie inflation and unemployment

The Reserve Bank has revised up its prediction for core inflation, with price growth expected to remain above its midpoint target despite higher interest rates.

AAP

'I just don't have a good feeling about this': Top economist Claudia Sahm says the economy quietly shifted while policymakers wait for the wrong alarm

EXCLUSIVE: The creator of the Sahm Rule on why she’s concerned about the long-term health of America’s economy.

Fortune

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Stock Index Futures Slip as Trump Picks Warsh for Fed Chair

March S&P 500 E-Mini futures (ESH26) are down -0.40%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.47% this morning after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair.

Barchart

The easy thing for the RBA to do next week is raise interest rates. The smart move is to wait

Oh no, inflation went up in one month – we need rates to do something! But first, let’s take a closer look at those figures

The Guardian - AU

Revealed: The UK’s most deprived neighbourhoods where crime and unemployment will rise the most

The report has warned the government against inaction in these communities, largely concentrated in the North of England

The Independent UK

London jobs crisis: Unemployment among young people hits a nine-year high

EXCLUSIVE: Some 88,000 Londoners aged 16 to 24 on average were unemployed in the 12 months to September - a rise of 11,000 in a year

Evening Standard

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England’s most deprived areas to get worse by next election, report for No 10 finds

Exclusive: the 613 most deprived areas will see higher crime rates and worse unemployment under current funding schemes, report says

The Guardian - UK

Australian inflation jumps, adding to chances of an RBA interest rate hike

Inflation has risen further above the Reserve Bank of Australia’s 2–3% target. There is now a very real prospect the Reserve Bank will feel it needs to increase interest rates at its meeting next week, with an announcement due on Tuesday afternoon.

The Conversation

Don’t hold your breath for a Fed rate cut anytime soon. In fact, a hike could be in the cards

“Underpinning this is our belief that the labor market is improving, and that unemployment will decline ahead on a trend basis,” wrote Macquarie economists.

Fortune

Georgia governor suspends lawmaker accused of unemployment fraud

Georgia Gov. Brian Kemp has suspended state Rep. Sharon Henderson from the Georgia House

The Independent UK

Dollar Falls on Stock Strength

The dollar index (DXY00 ) today is down by -0.28%. Today’s stock rally has curbed liquidity demand for the dollar. Losses in the dollar are contained due to today’s stronger-than-expected US economic news on weekly jobless claims and Q3 GDP. US weekly initial unemployment claims rose +1,000 to 200,000, showing...

Barchart

US applications for jobless benefits inch up last week to a still-low 200,000

The number of Americans who applied for unemployment benefits inched up last week but U.S. layoffs remain historically low despite signs of a softening labor market

The Independent UK

Why AI has not led to mass unemployment

People have become used to living with AI fairly quickly. ChatGPT is barely three years old, but has changed the way many of us communicate or deal with large amounts of information.

The Conversation

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AAP

Healthy jobs market spells rate pain for borrowers

Upcoming inflation data will be make or break for a Reserve Bank rate hike decision following stronger than expected jobs figures, economists say.

Evening Standard

OPINION - Let's transfer free transport from oldies to our struggling youth

Youth unemployment in London is at record levels; let’s help by giving discount travel to the young, not 60 year olds

Evening Standard

Jobs crisis for London as unemployment rate doubles in less than two years

Nationally the biggest falls in employment were in retail, where 72,000 jobs were lost, and hospitality, down by almost 70,000.

Evening Standard

Wage growth falls as unemployment stays at highest level for nearly five years

The Office for National Statistics said retail and hospitality sectors have seen some of the biggest falls in payrolled employees.

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The Independent UK

Fears for UK job market as wage growth falls and unemployment stays at 5-year high

Retail and hospitality sectors have seen some of the biggest falls in payrolled employees

The Guardian - UK

Number of employed people in UK falls again as wage growth slows

Shops, restaurants and hotels particularly hit by slowdown in hiring, as unemployment remains at 5.1%

Fortune

Half of veterans leave their first post-military jobs in less than a year, and spouses face sky-high unemployment—This CEO has a $500 million fix

USAA CEO Juan C. Andrade says some veterans lose “their sense of belonging” in transitioning to corporate jobs. The company hopes fellowships, mentorship, and policy advocacy can help them get back on their feet.

AAP

International report to hover over domestic economy

Unemployment data will give fresh insight to Australia's economy, as a major financial institutions releases information on the state of play globally.

Evening Standard

Labour government in Scotland would pose ‘threat to jobs’, SNP claims

SNP economy spokesman Dave Doogan said unemployment has risen since Labour took office at Westminster.

TechRadar

London Mayor Sadiq Khan: AI could become a ‘weapon of mass destruction’ for jobs

The Mayor of London warns AI could bring ‘mass unemployment’.

Fortune

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system'

"We are at a point in history where something amazing is happening, and it may be amazingly good, and it may be amazingly bad."

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