The Canadian labour market is showing some signs of softening as the unemployment rate rises and wage growth slows, but with another solid job gain last month, forecasters are still expecting a rate hike next week. Statistics Canada reported Friday the economy added 60,000 jobs in June, driven by gains in full-time work. But as…
Bank of Canada Expected to Raise Rates Next Week, Despite Rise in Unemployment Rate
Beijing Enters Systemic and Opaque ‘Involution’
China’s unemployment rate in May reached a record high of 20.8 percent for youth aged 16–24. Combined with the record-breaking 11.58 million graduates this year, the pressure on the job market is unprecedented. Many college students chose to delay graduation, hoping higher education would help to guarantee a better opportunity in the job market, according…
Is There Really a Labor Shortage?
March 27, 2023
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BrightBusiness & MarketseconomyGreat Resignationjob openingslabor shortageleisurepersonal financeunemployment rateUSUS News
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You’ve probably seen the “help wanted” signs in shops and restaurant windows. Owners and managers complain that they can’t find help. And you know it’s true because it usually takes twice as long to get served as it did before COVID-19. There doesn’t seem to be enough people to fill the jobs. But is that…
Australia’s Unemployment Rate Returns to Record Low in February
An employment surge has seen Australia’s jobless rate fall to a 48-year low across June and December 2022. According to the latest data from the Australian Bureau of Statistics (ABS), the unemployment rate dropped from 3.7 percent in January to 3.5 percent in February as 64,600 Australians found a job during the period. “With employment…
Broken Labor Markets and Shattered Progress
February 8, 2023
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AnalysisBusiness & MarketsBusiness ColumnistsemploymentJoe Bidenlabor marketsOpinionSOTUState of the UnionU.S. economyunemployment rate
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Commentary Please forgive me for not watching the State of the Union address last night. There is only so much phony baloney I can stand, and I knew in advance that it was going to be a lot of blather about how great the economy is based on the unemployment rate. The thing is that…
Australia’s Jobless Rate Stays at 3.4 Percent in November Despite Sharp Employment Growth
Australia’s unemployment rate stabilised at 3.4 percent in November, with record high levels of participant rate and higher-than-expected growth in employment. According to the Australian Bureau of Statistics (ABS) latest labour force data, 64,000 Australians found a job in November, taking the number of employed people in the entire country to 13,769,400. This figure came as…
Report: Georgia Has One of the Nation’s Best Improvements in Its Unemployment Rate
Georgia reported one of the best changes in its unemployment rate of any state in the union, a new analysis found. According to the report from WalletHub, Georgia has the 15th best change in unemployment. That trailed neighboring Florida (No. 6) and Alabama (12) but was better than South Carolina (28), Tennessee (32) and North…
Say Goodbye to the Labor Shortage
October 5, 2022
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Business & MarketsBusiness Columnistsinflationjob creationjob marketlabor participationlabor shortagerecessionU.S. economyunemployment rate
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Commentary It was good, or at least fascinating, while it lasted. The labor shortage is ending. In the entirety of the post-lockdown period, labor markets have been behaving strangely. We’ve seen incredibly low unemployment numbers (3.6 percent) that everyone has known do not tell the whole story. That figure only calculates people in the market…
There Are 5.8 Million Missing Workers in the US
Commentary The August jobs report posted on the Department of Labor website (DOL.gov) was released to the public by the Bureau of Labor Statistics (BLS.gov ) on Sept. 2, 2022 at 8:30 am ET. Its headline read “payroll employment increases by 315,000 in August; unemployment rate rises to 3.7 percent.” Charts 1a-1b and Charts 2a-2b below were generated by using FRED (Federal Reserve Economic Data)….
Australia’s Unemployment Rate Drops to 48-year Low
Australia’s unemployment rate fell again in July, hitting 3.4 percent–the lowest level in 48 years. While the unemployment rate for men slipped by 0.2 percent to 3.4 percent, women’s remained unchanged at 3.4 percent compared to June. In addition, data from the Australian Bureau of Statistics (ABS) indicated that the number of unemployed people in…
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