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THE TRUTH ABOUT: 50 - Caught on Camera

Kenya unrest: the deep economic roots that brought Gen-Z onto the streets

The generation of Kenyans born between 1997 and 2012 – the Gen-Zs – have borne the brunt of the country’s slow economic growth. If a country has slow economic growth, it typically experiences higher unemployment rates, reduced income levels and decreased investments. It leads to an overall lower living standard.

The Conversation

S&P Futures Climb as Investors Await Key U.S. Inflation Data, Nike Results Disappoint

September S&P 500 E-Mini futures (ESU24) are trending up +0.39% this morning as investors bet that the upcoming reading of the Federal Reserve’s preferred inflation gauge will strengthen the argument for lower interest rates.

Barchart

How the ‘unforced error’ of austerity wrecked Britain

The Tories’ cuts were an obvious economic blunder, but their disastrous consequences are still piling up – and there is little hope Labour will reverse the damage

The Guardian - UK

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Dollar Slips on Weak US Economic Reports

The dollar index (DXY00 ) on Thursday fell by -0.14%. The dollar was under pressure Thursday after US economic news showed weekly continuing unemployment claims unexpectedly rose to a 2-1/2 year high, a sign of labor market weakness that is dovish for Fed policy. Also, weaker-than-expected US capital goods orders...

Barchart

Dollar Weakens on Fed-Friendly US Economic Reports

The dollar index (DXY00 ) today is down by -0.27%. The dollar is under pressure today after US economic news showed weekly continuing unemployment claims unexpectedly rose to a 2-1/2 year high, a sign of labor market weakness that is dovish for Fed policy. Also, weaker-than-expected US capital goods orders...

Barchart

Fewer Americans file for jobless claims, but continuing claims rise for 8th straight week

The number of Americans applying for unemployment benefits fell last week as layoffs remain at healthy levels despite elevated interest rates and inflation

The Independent UK

Tunisia Town Shuttered After Libya Closes Smuggler-linked Border

Months into the closure of Tunisia's main border crossing with Libya, a haven for smugglers, shops are shuttered and unemployment has soared in the already-marginalised desert region, merchants say.

International Business Times

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‘Britain’s on its knees’: The broken UK town backing Nigel Farage

Clacton, with high unemployment and low immigration, looks set to finally deliver the right-wing populist to parliament.

Al Jazeera

Brussels accuses Apple of breaking EU rules; Badenoch and Reynolds clash over business – as it happened

Business secretary Kemi Badenoch and Labour opposite number, Jonathan Reynolds, debate key issues

The Guardian - UK

The cloud of coal has long hung over the Latrobe Valley. Now nuclear power is dividing it

The valley that provides most of Victoria’s electricity also has unemployment above the state average – and the Coalition’s plan for the region has split opinion

The Guardian - AU

Gen Z are increasingly becoming NEETs by choice—not in employment, education, or training

Gen Z are ditching the rate race and opting to become NEETs—not in employment, education, or training—creating record levels of youth unemployment around the world.

Fortune

US Unemployment Claims Fall, Economy Remains Resilient

Latest data from the Labor Department shows resilience in the U.S. labor market with a slight decrease in jobless claims and ongoing job security.

Top News

US Jobless Claims Spike To 10-Month High

Latest data reveals a surge in jobless claims, potential labor market challenges amid economic uncertainties and Federal Reserve rate hikes.

The Conversation

Unemployment has dipped, but don’t be fooled – the jobs market is weakening

For some time now – gradually, but nevertheless relentlessly – the Australian labour market has been weakening.

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The Guardian - AU

Australia’s unemployment rate dips to 4% as economy adds 40,000 new jobs

Jobless rate eases as employers shrug off rising costs to keep adding to their workforces

The Guardian - AU

Obsessing over the inflation rate misses one key point: the economy is more than just how fast prices are rising

Those who salivate over other nations’ interest rates with barely any care for people losing their jobs really need to think about their priorities

The Guardian - UK

UK unemployment is up, but wage rises make early interest rate cut less likely

Bank of England will want to delay rate reduction until level of pay increases eases

Evening Standard

FTSE 100 Live 11 June: Index closes down 1% amid surprise unemployment rise, high wage growth

The US interest rate outlook is today’s major focus amid a stronger session for European markets.

The Guardian - UK

Strong wage growth will further delay cut in UK interest rates, City believes

First cuts not expected until late summer or early autumn despite evidence jobs market is cooling

The Guardian - UK

Pre-election UK interest rate cut unlikely despite cooling jobs market and rising mortgage arrears; Moody’s warns France over snap election – as it happened

Latest UK labour market report shows signs of cooling, as jobless rate hits highest since 2021

The Conversation

Do unemployment benefits stifle entrepreneurship? It’s complicated

Unemployment in the UK rose to 4.4% at the end of April 2024. While this is by no means a worrying level of joblessness for an economy, it is the highest since September 2021, in the second year of the COVID pandemic, when it reached 4.4%.

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