The Labour Department reported false counts of week-to-week jobless-benefits claims, and several states underpaid unemployed Americans through a key economic relief program, the Government Accountability Office said Monday. Inconsistent state data, claims backlogs, and potential fraud in the benefits system resulted in “flawed week-to-week comparisons” of jobless-claims data, the government […]
UK unemployment jumped to its highest rate in over three years, rising to 4.5% in the three months to August. Nearly 3 million people claimed jobless benefits in September, according to data released by the Office for National Statistics. The jobs data was worse than the 4.3% rise economists had […]
The UK’s unemployment rate rose to near two-year highs at 4.1% in July, as almost 750,000 jobs were lost since March this year. The number of employees on payroll fell by 695,000 since March, d espite the three months to July marking the period of relaxed lockdown restrictions. The claimant […]
Job openings in the US gained for the third month in a row in July as the labour market continued its steady climb from pandemic-induced lows. US job openings gained by 617,000 to 6.6 million through the month, according to Job Openings and Labour Turnover, or JOLTS, survey data. The […]
Most states have been approved to distribute $US300 in weekly federal unemployment aid under President Donald Trump’s aid program. It will be $US400 in a few states, since they were given the option to provide an extra $US100 in weekly benefits. Thirty-four states are scheduled to begin paying out the […]
US jobless claims for the week that ended Saturday totaled 1.3 million, the Labour Department said Thursday. That came in below the consensus economist estimate of 1.38 million. Thursday’s report marked the 14th straight week of declining claims. It also brought total filings over a 16-week period to nearly 50 […]
US jobless claims for the week that ended Saturday totaled 1.43 million, the Labour Department said Thursday. That was slightly higher than the consensus economist estimate of 1.35 million. Thursday’s report marked the 13th straight week of declining claims. It also brought total filings over a 15-week period to nearly […]
The US economy will recover in an L-shaped trend over four years, Scott Minerd, chief investment officer at Guggenheim Investments, wrote in a Sunday note. Lockdowns will be reversed gradually, and rolling periods of lockdown will likely continue into 2022, he added, citing a Harvard study. The government and Federal […]
Private-sector firms cut 27,000 jobs in the month ended March 12, according to a Wednesday report from ADP. The release marks the metric’s first decline since 2017 and suggests the labour market began to weaken before widespread lockdowns and stay-at-home activity was ordered later in March. Small employers slashed 90,000 […]
Weekly jobless claims are set to hit a second straight record as the coronavirus outbreak further freezes the US economy, experts surveyed by Bloomberg said. The median reading from the 46 economists surveyed was that Thursday’s jobless-claims report would reach 3.5 million, slightly higher than the record 3.3 million last […]
US unemployment has fallen to a 17-year low of 4.1%, raising the question of whether the economy has reached full employment. A new analysis from the Atlanta Fed shows the jobless rate would be higher if adjusted for key demographic changes since 2000. The US unemployment rate has fallen to […]
Friday's jobs report had a huge surprise with a...
Europe is currently facing a major collective...