The number of Americans filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve’s aggressive credit tightening. The latest data from the Bureau of Labor Statistics shows […]
More U.S. citizens are now filing claims for unemployment benefits. According to the U.S. Labor Department, initial claims for state unemployment benefits rose by 13,000 to a seasonally adjusted 196,000 for the week ended February 4. That was the first increase in claims since the second to last week of December. The jump in claims is due to layoffs of […]
GENEVA — The outlook for the year ahead and beyond is not very promising. The International Labor Organization warns that the current global economic slowdown will force millions of workers to accept lower quality, poorly paid jobs. In its “World Employment and Social Outlook: Trends 2023” report, the ILO predicts global unemployment will rise by 3 million for a total of […]
A petrol price decline has positively impacted the cost of living in the US. The U.S. Labor Department says inflation was 6.5 percent over the 12 months to the end of December, down from 7.1 percent in November. The inflation gauge also shows that some food items have also seen a price fall. The pace has dropped for six consecutive […]
Although job growth continues in the U.S., there is a dip in pace as rising prices and higher borrowing costs have put the economy in a spot of bother. The U.S. Labor Department, in its recent report, noted that employers added 261,000 jobs in October, while the unemployment rate rose slightly to 3.7%. The news comes as the economy remains […]
“Labor for learning before you grow old; For learning is better than silver or gold. Silver and gold will vanish away, But a good education will never decay.” The above poem is one that has been recited by children all over the world throughout the ages and for generations. The fact is education is part of one’s human capital or […]
According to the Statistical Institute of Jamaica (STATIN), Jamaica’s unemployment rate fell to a new record low of six percent in April 2022. This is 0.2 percentage point lower than the figure for January 2022 and is also a three-percentage point decline on the April 2021 outturn. Director General, Carol Coy, noted that the male unemployment rate fell from 7.5 […]
It is a confronting reality that even in the present day, men, women, and children all over the world remain victims of modern slavery. They are bought and sold in public markets, forced to marry against their will and provide labor under the guise of “marriage,” forced to work inside clandestine factories on the promise of a salary that is […]
The U.S. Department of State laments the problem of child labor in Jamaica by arguing that there are many children involved in illicit activities, such as scamming. In its latest human rights report, it acknowledges that the minimum age for general employment is 15, with the law allowing children between ages 13 and 15 to engage in light work. However, it […]
Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System, said the decision to make another gradual reduction in the amount of policy accommodation reflected the economy’s continued progress toward the employment and price stability. Furthermore, she said that the following factors have contributed to the fed’s decision to increase the rate at this time: 1. […]
