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The Latest Breaking News from Unemployment

In massive COVID-19 relief fraud, gangs used millions in PPP, other government aid on guns, drugs, feds say

In Chicago, the price of illegal guns soared during the pandemic, but gangs were able to pay for them with fraudulent PPP and other COVID-19 relief money, agents say.

Chicago Sun-Times

How to make sense of the country's stunningly strong job market

U.S. employers added about twice as many jobs in September as forecasters expected. That's good for people looking for work, but the strong report could complicate the Fed's effort to curb inflation.

WEKU

Investors Await September Jobs Report For Fed Rate Clues

September jobs report and non-farm payrolls data to shape market expectations.

Zenger

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Markets Today: Stocks Slip as Bond Yields Climb on U.S. Labor Market Strength

Morning Markets December E-Mini S&P 500 futures (ESZ2 3) are down -0.39%, and the Dec Nasdaq 100 E-Mini futures (NQZ2 3) are down -0.34%. Stock index futures this morning are moderately lower. A smaller-than-expected increase in weekly initial unemployment claims signals labor market strength that nudged bond yields higher and...

Barchart

Newsom Said Cost Made Him Veto Unemployment Pay for Strikers. Unions Say It Was Disrespect.

The bill passed by the California Legislature would have limited benefits to keep state payments manageable.

Capital & Main

California governor vetos unemployment benefits for striking workers

California Gov. Gavin Newsom (D) vetoed a bill Sept. 30 that proposed allowing workers to claim unemployment insurance benefits after striking for two weeks. Senate Bill 799 previously passed the state Senate 27-12 on Sept. 14 and passed the state House 59-18 on Sept. 11.

Ballotpedia

Texas’ unemployment rate is among the nation’s worst — but experts say it signals a growing economy

The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an indicator of Texas’s rapidly growing population and labor force.

The Texas Tribune

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Hunt’s speech pleases Tory faithful but is unlikely to resonate with voters

Cost of living crisis, rising unemployment and extended NHS waiting times will determine government’s chances in general election

The Guardian - UK

Crude Inventories, Jobs and Other Market Moving Items to Watch This Week

We’ll see some key data releases this week as well as some potentially market-moving news. Here are 5 things to watch in the market this week.

Barchart

California's governor rejects a bill to give unemployment checks to striking workers

Democratic Gov. Gavin Newsom said he vetoed the bill because the fund the state uses to pay unemployment benefits will be nearly $20 billion in debt by the end of the year.

WEKU

California governor rejects bill to give unemployment checks to striking workers

California won’t be giving unemployment checks to workers on strike

The Independent UK

Everything you need to know about a government shutdown

The impacts of government shutdowns include furloughed employees, reductions in services, closed parks and museums, and much more.

USAFacts

S&P Futures Climb as Bond Yields Fall Ahead of Key U.S. Inflation Data

December S&P 500 futures (ESZ23) are trending up +0.43% this morning as dovish-leaning remarks from Fed officials and reports of a potential meeting between U.S. and Chinese leaders boosted sentiment while investors looked ahead to a reading on the Federal Reserve’s preferred inflation gauge.

Barchart

As employers face labor shortages, Biden administration rolls out playbook for training workers

The Biden administration is releasing a playbook on best practices for training workers as the low 3.8% unemployment rate and years of underinvestment have left manufacturers, construction firms and other employers with unfilled jobs

The Independent UK

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The Conversation

Politics with Michelle Grattan: Treasurer Jim Chalmers on jobs and work

Treasurer Jim Chalmers released his White Paper on employment this week.

The Hindu

Modi government crushed hopes of youth, leading to suicides: Congress

Congress attacks Modi government over unemployment; alleges manipulation of NCRB data. Congress claims data from EPFO, Azim Premji University and CMIE show formal sector employment down and PM's rozgar melas a "mockery" of government functioning.

The Independent UK

Slightly fewer number of Americans apply for jobless benefits as layoffs remain rare

U.S. applications for unemployment benefits inched up modestly this week after reaching their lowest level in eight months the previous week, as the labor market continues to defy the Federal Reserve’s interest rate hikes meant to cool it

Al Jazeera

Gaza graduates demand UNRWA solutions for high unemployment rate

Unemployment rate in Gaza continues to be among the highest in the world, hitting 70 percent among young graduates.

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The Times of India

A Haryana village where maximum number of youths have left country for better job options

JIND: In the search of work and jobs, maximum youths from Durana village of Jind district have taken flights to foreign countries in the last few years, said villagers.

Fortune

How Detroit and JPMorgan Chase teamed up to tackle the city's economic woes

Detroit's unemployment, housing, and economy are trending in the right direction, and JPMorgan Chase has been a big part of the turnaround.

Newcastle Herald

Hunter workforce swings toward job security with full-time job rise

The Hunter's latest monthly regional workforce figures show a trend towards full-time roles.

Ballotpedia

U.S. weekly unemployment insurance claims fall to 201,000

New applications for U.S. unemployment insurance benefits fell 20,000 for the week ending September 16 to a seasonally adjusted 201,000. The previous week’s figure was revised up by 1,000 to 221,000. The four-week moving average as of September 16 fell 7,750 from the previous week’s revised average to 217,000.

The Conversation

The Albanese government blew its shot at setting a historic new unemployment target

Treasurer Jim Chalmers says the federal government’s employment white paper is “ambitious”. I’m not convinced.

AAP

Plan to boost employment labelled 'missed opportunity'

The Albanese government's employment white paper has been called a missed opportunity to curb inflation while bringing down unemployment.

The Independent UK

Why the US job market has defied rising interest rates and expectations of high unemployment

Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households

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