employment
Washington (AFP) - US job growth blew past estimates in May even as unemployment edged up, data showed Friday, underscoring the labor market's resilience as policymakers seek to cool the economy gradually. But the hotter than expected figures could complicate the Federal Reserve's calculus as it weighs the right time to lower interest rates. It also remains to be seen if positive employment data would translate into rosier perceptions of President Joe Biden, who has been struggling to convince voters of his handling of the economy. The world's biggest economy added 272,000 jobs last month, up ...
AFP
Released this morning: The jobs report, released at 8:30 this morning, shows that in May employers added 272,000 jobs, up from the monthly average of 242,000 that's persisted for the first half of the year and far more than most economists predicted. In April, the unemployment rate was 3.9 percent—a bit higher than the 3.4 percent unemployment the year prior. In May, it slid up to 4 percent. "The headline number is a source for celebration for President [Joe] Biden, who frequently points to the strong job market when making the case to voters that he has handled the economy well," summarizes T...
Reason
By Anuj SRIVAS Bombay (AFP) - Le Premier ministre indien Narendra Modi a vu son pays atteindre une croissance économique annuelle record (plus de 8% en 2023/2024), mais des taux de chômage chroniquement élevés ont joué un rôle clé dans son revers électoral surprise cette semaine. "La détresse économique sous-jacente des gens du secteur informel a eu un impact sur le résultat des élections", a estimé l'économiste Arun Kumar. L'appel nationaliste hindou de Modi aux électeurs s'est heurté à la réalité des conditions de vie des Indiens, a-t-il ajouté. Modi se prépare à faire un troisième mandat, c...
AFP (Français)
Washington (AFP) - Job gains in the US private sector slowed again in May on a slump in manufacturing, payroll firm ADP said Wednesday, in a further sign the world's largest economy could be cooling. Employers added 152,000 jobs last month, down from a revised 188,000 figure in April and less than analysts anticipated, the report said. This was due to a steep decline in manufacturing, added ADP, noting that leisure and hospitality also showed softer job growth. "The labor market is solid, but we're monitoring notable pockets of weakness tied to both producers and consumers," ADP chief economis...
AFP
The final eurozone manufacturing PMI from Hamburg Commercial Bank (HCOB) grew to 47.3 in May, announced S&P Global on Monday. That was up from April's figure of 45.7 and just below the preliminary estimate of 47.4. The PMI figure looks at five indices to measure economic health: new orders, output, employment, suppliers' delivery times, and stocks of purchases. A reading above 50 points to expansion, whereas one below 50 signals contraction. Manufacturing PMI Output at a 14-month highThe Manufacturing PMI Output Index, a separate figure that makes up the broader Manufacturing PMI, looks at the...
Euronews (English)
California now leads the nation in imposing dumb wage laws. The state just raised the hourly minimum wage for fast food workers to $20. Gov. Gavin Newsom said, "We saw the inequities….We had a responsibility to do more." Unions pushed for the higher minimum, and in Democrat-run states, unions usually get what they want. CNN announced, "Half a million California fast food workers will now earn $20 per hour." Gullible leftists at the Center for American Progress claim, "A higher minimum wage would boost millions of families out of poverty and further stimulate the economy." Yippee! It's a happy ...
Reason
If you’ve been thinking about relocating to Germany, this new work permit might be for you. Germany is seeking more skilled workers and has introduced a new way for qualified foreign nationals to move to the country. Called the Opportunity Card, it allows non-EU citizens to come to Germany for a year in order to search for a job. Here’s who is eligible and how the card works. There’s a new way for foreign workers to move to GermanyThe idea for the Chancenkarte, which translates as Opportunity Card, was first floated in 2022 as a way to make it easier for foreign workers to find employment in G...
Euronews (English)
Tom Cruise might just be Hollywood's most analog movie star. He reportedly once grew irate when a crew member suggested that a dangerous stunt be performed by a digital double, yelling: "There is no digital Tom! Just Tom!" For last summer's Mission: Impossible—Dead Reckoning Part One, Cruise, who was 61 when the movie hit theaters, actually jumped a motorcycle off a ramp on top of a mountain, let the bike fall down into the canyon, and then parachuted down into the valley below. The complex sequence took a year to plan and shoot. It probably cost a lot of money. There were some computer effect...
Reason
What does decriminalized sex work look like in practice? People in Australia (specifically New South Wales) and New Zealand know the answer, because they decriminalized sex work decades ago. I recently spent six weeks touring my one-woman show, Whore's Eye View, in Australia and New Zealand, where I met sex workers, clients, and brothel owners who negotiate sexual services openly without fear of arrest. After my shows, people from the sex industry—both workers and clients—stayed to tell me their stories. I spoke with people who did sex work to start their own businesses, pursue a passion proje...
Reason
"Part-time work must be the exception, not the rule," said politician Michael Kretschmer in an interview with German newspaper The Handelsblatt published earlier this week. As part of his campaign to be re-elected to the state parliament this year, the centre-right CDU minister homed in on the question of Germany's productivity. "We have to ensure that we come out of the crisis with growth and full employment - for me that means a 40-hour week for everyone," he said. "It was a mistake that the option of part-time has gone from being an exception to a legally secured rule." Since 2001, when Ger...
Euronews (English)
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