unemployment | Pixr8 News

Job growth slowed further in August in the United States as financial assistance from the government ran out, threatening the economy's recovery from the COVID-19 recession. Nonfarm payrolls increased by 1.371 million jobs last month after advancing 1.734 million in July, the Labor Department's closely watched employment report showed on Friday. The unemployment rate fell to 8.4 percent from 10.2 percent in July. Economists polled by Reuters news agency had forecast 1.4 million additional jobs in August and the unemployment rate sliding to 8.4 percent. Companies from transport to manufacturing industries have been announcing layoffs or furloughs, putting pressure on the White House and Congress to restart stalled negotiations for another fiscal package. With just two mon...

Since the pandemic hit, claims for unemployment benefits have soared in some countries notably the US and by far less in others, for example, Japan. According to the UN’s International Labour Organization, as job losses escalate, nearly half of the global workforce at risk of losing livelihoods. As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors. The first month of the crisis is estimated to have resulted in a drop of 60 per cent in the income of i...

Tag: unemployment

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