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WASHINGTON, United States (AFP) — Another 2.43 million US workers were put out of work last week amid the coronavirus pandemic, according to government data Thursday, bringing the total since mid-March to a massive 38.6 million. The Labor Department data on new first-time claims for unemployment benefits for the week ended May 16 was another decrease from prior weeks as the rate of new filings continued to slow, but the job losses remained among the […]
WASHINGTON, United States (AFP) — The economic shutdown caused by the coronavirus pandemic sparked an explosion of Americans filing for unemployment benefits, surging to 3.3 million last week — the highest number ever recorded, the Labor Department reported Thursday. The normally routine report is at the frontlines of the economic crisis caused by the outbreak, which has forced widespread closures of restaurants, shops and hotels and brought airline travel to a virtual halt, prompting the […]
by Douglas Gillison WASHINGTON, United States | AFP America’s jobs engine downshifted in August as employers unexpectedly held back hiring across major industries, another sign that the world’s largest economy is cooling off, government data showed Friday. As the numbers were released early Friday, President Donald Trump, whose record as a job creator could pale ahead of next year’s election, renewed his attacks on the US central bank, which he blames for failing to […]
TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers fell sharply this quarter, the Bank of Japan’s quarterly business survey showed Monday, suggesting a stuttering recovery for the world’s third-largest economy. The central bank’s April Tankan report — a quarterly survey of about 10,000 companies — showed a reading of 12 among major manufacturers, a steep fall from 19 in the previous quarter. Economists say a slowdown in the Chinese economy was partly to blame, with […]
by Michelle FITZPATRICK / Tom BARFIELD Agence France Presse Official data suggested Tuesday that Germany avoided a recession at the end of 2018 but confirmed a sharp slowdown in growth last year as Europe’s largest economy cooled off from boom times. Economic growth sank to 1.5 percent in 2018 from 2.2 percent in the previous two years, federal statistics authority Destatis said. In absolute terms, Germany’s 2018 GDP was around 3.4 trillion euros ($3.9 […]
by Michelle Fitzpatrick Agence France Presse FRANKFURT AM MAIN, Germany (AFP) — Germany will find out on Tuesday if Europe’s top economy ended 2018 in a technical recession, with fears over slowing momentum fuelling calls for Berlin to use its fiscal leeway to bolster growth. Federal statistics office Destatis will publish a preliminary estimate of Germany’s fourth quarter and full-year gross domestic product figures for 2018, data closely watched across the eurozone for signs […]
TOKYO, Japan (AFP) — Japan said Friday it will have to amend its upcoming budget to fund compensation for people whose benefits were underpaid for years because of a scandal involving erroneous labour data. The labour ministry admitted this week that it has for years failed to collect complete data for its monthly employment report, which is closely watched as an indicator of wages and work hours. The data helps determine various government benefits, including […]
TOKYO, Japan (AFP) — Japan may have underpaid billions of yen in unemployment benefits after it emerged that the government has been incorrectly collecting labour market data for as long as 15 years. Officials are supposed to gather data from all firms with 500 or more employees but in Tokyo, only about one third of 1,400 such firms were surveyed, according to a civil servant at the labor ministry. Labour minister Takumi Nemoto has […]
WASHINGTON, United States (AFP) — Hiring by private US companies surged unexpectedly in December, rising to its highest level in nearly two years as employers beefed up staffing levels in the holiday period, a survey showed Thursday. The result shattered economists’ forecasts, showing that employers continued to add workers despite fears of a slowing economy, a stock market slump and a trade war with China. The private sector added 271,000 net new positions for the […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — The US economic engine delivered another jolt of good news as Republicans battle to maintain control of Congress in next week’s midterm elections, churning out jobs and giving workers a fat pay bump, government data showed Friday. The economy brushed past Hurricane Michael, adding 250,000 net new positions in October and handily overshooting forecasts, while salaries rose at the fastest pace in nearly […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — The US jobless rate tumbled in September to its lowest level since December 1969, even as job creation slowed, likely due in part to Hurricane Florence, the government reported Friday. A month ahead of hard-fought congressional elections, the result was sure to delight US President Donald Trump, who has eagerly taken credit for America’s extended run of economic expansion even as his Republican […]
