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The Latest Breaking News from Unemployment

This month, China released official statistics showing that its unemployment rate for young people (16-24 years old) reached a record high of 20.4% in April. Worse, the news comes just one month before another 11.6 million students will graduate from college and vocational schools and enter the job market.

Bangkok Post

US hiring jumped last month. So did unemployment. Here’s what that says about the economy.

The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs. Yet there were some mixed messages in the jobs figures as the unemployment rate rose to 3.7%.

Chicago Sun-Times

Demand to extend Yuva Nidhi scheme for all unemployed youths

Various students organisations lauded the state government’s ‘Yuva Nidhi’ scheme to provide an unemployment allowance, but also demanded that the government extend the scheme for all unemployed youths.

The Hindu

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Jobs Report Shows Hiring Surge in May: What the Experts Are Saying

A mixed jobs report should keep the Fed on track to pause its campaign of rate hikes.

Kiplinger

Fact or fake: Does the EU cohesion policy ignore young people?

One in six Europeans is aged between 18 and 29. The demographic was particularly hard hit by the Covid-19 pandemic, and despite the economic recovery that followed, youth unemployment levels remain high. The EU has a few programs in place to help them. We tell you more in this edition…

France 24

US jobs market remains strong despite high interest rates and debt ceiling fight

US adds 339,000 jobs in May, surpassing forecasts, as unemployment rate increases slightly to 3.7%

The Guardian - US

S&P Futures Climb Ahead of Key U.S. Payrolls Data, U.S. Congress Passes Debt Bill

June S&P 500 futures (ESM23) are trending up +0.45% this morning as the passage of a U.S. debt ceiling bill in Washington boosted market sentiment, while investors looked ahead to a crucial U.S. nonfarm payrolls report that might clarify the Federal Reserve’s policy path.

Barchart

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S&P Futures Tick Higher as Investors Await Key U.S. Payrolls Data, U.S. Congress Passes Debt Bill

June S&P 500 futures (ESM23) are trending up +0.40% this morning as the passage of a U.S. debt ceiling bill in Washington boosted market sentiment, while investors looked ahead to a crucial U.S. nonfarm payrolls report that might clarify the Federal Reserve’s policy path.

Barchart

Greece’s ‘earthquake’ of an election: a right-wing triumph

Not long ago, Greece was Europe’s “economic and political problem child”, said Alan Posener in Die Welt (Berlin). The 2010 debt crisis had led to a 25% contraction in its economy – unemployment had hit 27%; people were rioting in the streets – and as a condition of receiving the massive bailouts…

The Week

Ex-Haryana CM steps up attack on BJP-JJP government over unemployment, education, farming

former CM and leader of Opposition Bhupinder Singh Hooda on Thursday accused the government of playing with the future of Haryana’s youth who are facing severe hardship on account of unemployment

The Hindu

US jobless claims tick up, still show strong labor demand

WASHINGTON: Applications for US unemployment benefits rose slightly last week to a level that’s still consistent with resilient demand for labor.

The Times of India

What does high immigration mean for the government's popularity? What data on voting habits tells us

The news from the Office of National Statistics that net migration reached a record high of 606,000 in 2022 is likely to have embarrassed the government, particularly the home secretary, Suella Braverman. For years, successive prime ministers have promised reductions in net migration, but without much success in delivering them.

The Conversation

Africa, Middle East driving growing ’employment divide’, UN says

Low-income countries will not see unemployment rates recover to pre-pandemic levels in 2023, ILO says.

Al Jazeera

China’s 11.6m graduates face a jobs market with no jobs

With youth unemployment at a record high, the problem of overeducated young people is acute

The Guardian - UK

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The Conversation

Closing the First Nations employment gap will take 100 years

In 2008 Australia’s federal, state and territory governments set the goal of halving the employment gap between First Nations Australians and others within a decade. That required, by 2018, lifting the employment rate for First Nations Australians from 48% to 60%, with the rate for other Australians being 72%.

Irish Mirror

Ireland in midst of jobs boom as as unemployment figures plummet to record low

There are now more people at work in Ireland than there were at the height of the Celtic Tiger.

Barchart

Stock Index Futures Move Lower as U.S. Debt Ceiling Vote Looms, China Data Disappoints

June S&P 500 futures (ESM23) are down -0.14%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.18% this morning as market participants digested weak Chinese manufacturing data while nervously awaiting the final vote on the U.S. debt ceiling deal.

Ballotpedia

U.S. weekly unemployment insurance claims rise to 229,000

New applications for U.S. unemployment insurance benefits rose 4,000 for the week ending May 20 to a seasonally adjusted 229,000. The previous week’s figure was revised down by 17,000 to 225,000. The four-week moving average as of May 20 was unchanged from the previous week’s unrevised number at 231,750.

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Reuters

Where are the jobs? India's world-beating growth falls short

On a hot summer afternoon, 23-year old Nizamudin Abdul Rahim Khan is playing cricket on a muddy, unpaved road in the Rafiq Nagar slum in India's financial capital, Mumbai.

Daily Mirror

'I make £43k a year doing a job no one wants - I find it rewarding and anyone can do it'

A man who went from unemployment and suffering depression to earning £43,000 in 2021 has proved you don't need a university degree to earn a decent salary in the UK

WEKU

April unemployment figures show drop in nearly two-thirds of Kentucky counties

Kentucky’s April unemployment statistics were released Friday and show the jobless rate fell, compared to a year ago, in nearly two-thirds of the state’s counties

Newcastle Herald

Hunter unemployment rate 'defying gravity' amid economic headwinds

The Hunter's jobless rate is falling at a time when the national rate is rising.

The Conversation

Tinubu inherits Nigeria’s high debt – an economist analyses what this means for the country's future

As the 16th president of Nigeria, Bola Ahmed Tinubu inherits an economy that is grappling with inflation, chronic unemployment, extreme poverty, crumbling infrastructure and insecurity.

Daily Record

Welcome reduction in unemployment figures in one region of Ayrshire

There's a big summer push on at the moment to help fill vacancies across a variety of sectors.

Ballotpedia

U.S. weekly unemployment insurance claims fall to 242,000

New applications for U.S. unemployment insurance benefits fell 22,000 for the week ending May 13 to a seasonally adjusted 242,000. The previous week’s figure was unrevised at 264,000. The four-week moving average as of May 13 fell to 244,250 from an unrevised 245,250 as of the week ending May 6.

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