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The Latest Breaking News from Unemployment

Unemployment insurance indexing bill fails in Arizona

The Arizona House of Representatives on June 12 voted against a bill 29-31 that would have indexed the length of unemployment insurance benefits to the state’s unemployment rate. During times when the unemployment rate was at or below 5%, unemployed workers would have been able to collect a maximum of…

Ballotpedia

RBA says jobs market too tight to control inflation

Australia has managed to engineer full employment but the extreme competition for workers risks keeping inflation higher for longer.

AAP

Chalmers trumpets new employment growth numbers

Australia is outperforming major advanced economies on employment growth, with more people – and women – working than ever before.

The New Daily

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Alan Kohler: RBA hasn’t broken its habit of making horribly wrong interest calls

Pessimists fearful of a Reserve-Bank trifecta of runaway inflation, massive unemployment and house-price collapse need to get a grip.

The New Daily

South Africa's ruling party is performing dismally, but a flawed opposition keeps it in power

As power cuts continue, the economy falters, unemployment rises and the currency tumbles, South Africa’s political commentators tend to agree that support for the governing African National Congress (ANC) will fall under 50% in the 2024 national and provincial elections. If the party avoids a defeat, it could lead to…

The Conversation

Sierra Leone gears up for presidential election amid economic crisis, looming protests

Sierra Leoneans are heading to the polls on Saturday, June 24, to select their next president amid mounting frustration due to an ailing economy, rising unemployment and the loom of deadly protests

The Independent UK

Powell to Investors: Do You Feel Lucky Punk?

The “seeming” post Fed meeting rally for the S&P 500 is head scratcher for sure. That’s because as we dig below the surface, the overall market has not really rallied…just the usual suspects in the mega cap space. As you dissect the Fed statements there is a great divide in…

StockNews.com

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Further show of strength for Northern Ireland job market despite gathering headwinds

Both unemployment and employment levels back to pre-pandemic levels, but inflation and rising interest rates temper mood

Birmingham Post

There won’t be a true recession anytime soon—but a ‘growth recession’ is still on the menu next year, BofA warns

Bank of America's chief economist Michael Gapen revised his recession forecast again this week, citing strength in the labor market—but he says a "growth recession" is still coming in 2024.

Fortune

There has to be a better way to measure a recession

Did NZ really dip into recession this year? Not until unemployment starts to rise ... that's the measure that affects real people. Jonathan Milne reports.

Newsroom.co.nz

Number of Americans filing for jobless claims is elevated for second straight week

The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve’s interest rate hikes over the past year may taking hold in what’s been a resilient job market

The Independent UK

Chinese youth unemployment hits record high as Covid recovery weakens

New data shows Chinese economic growth slowing, with property investment in steep decline and youth unemployment at a record high. Also, the US Federal Reserve confirms its "hawkish pause" policy, keeping interest rates steady for now but planning for more hikes. Finally, economists name an unlikely culprit for persistent Swedish…

France 24

Afternoon Update: Thorpe alleges being ‘inappropriately touched’ in parliament; NZ enters recession; and did Beyoncé bump Swedish inflation?

Thorpe tells Senate she had reported experiences to former Coalition government

The Guardian - AU

China's factory, consumer activity weakens in May, youth unemployment rises

China’s factory and consumer activity weakened further in May and surging unemployment among young people in cities broke the previous month’s record as an economic rebound following the end of anti-virus controls slowed

The Independent UK

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The Guardian - AU

Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The New Daily

Unemployment rate falls to 3.6 per cent

The jobless rate has fallen back to 3.6 per cent after 76,000 jobs were added to the economy.

Los Angeles Times

Michael Hiltzik: Wage growth doesn't drive inflation. So why is the Fed out to crush workers?

Federal Reserve Chairman Jerome Powell and his colleagues have made major mistakes in their battle with inflation.

The New Daily

Michael Pascoe: In defence of the RBA (no, seriously)

The RBA and whoever happens to be in government right now want unemployment up above 4 per cent to 4.25 or 4.5 per cent.

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Reason

"Minnesota Appeals Court Decides 4 Cases on Religious Exemptions from Vaccine Mandates"

A post by Prof. Howard Friedman (Religion Clause), which he kindly allowed me to pass along: Yesterday, the Minnesota Court of Appeals decided four separate appeals from decisions of Unemployment Law Judges who denied unemployment benefits because an applicant refused on religious grounds to comply with an employer's Covid vaccine…

Reason

If Employee Is Fired for Off-the-Job Political Speech, Can He Be Denied Unemployment Compensation

on the grounds that the firing was for "misconduct" (such as violation of a social media policy)?

The Guardian - UK

UK borrowing costs soar above levels of Liz Truss premiership

Stronger than expected job and pay data makes interest rate rise more likely, driving up two-year bond yields

Insider UK

Scotland’s employment rate falls

85,000 people aged 16 and over in Scotland were unemployed between February and April

The Guardian - UK

UK short-term borrowing costs surge above Truss-era highs; US inflation falls to 4% – as it happened

UK interest rates expected to hit 5.5% by December after regular pay grows by a record, sending two-year bond yields soaring

Chronicle Live

North East unemployment falls to record low, new figures show

Unemployment in the North East is lower than the national average for the first time since the figures began

Evening Standard

FTSE 100 Live: Shares rise; US inflation falls to 4%; gilt yields soar beyond mini-Budget high

A return to growth for the UK economy in April was today offset by caution in the recruitment sector after staffing firm Robert Walters warned on profits.

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