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BusinessUK unemployment hits lowest since 1974 but jobs boom is fading
InvestingEuro zone yields fall as US payrolls seen easing rate-hike pressure
Top StoriesFed’s job-friendly ‘soft landing’ hinges on history not repeating
Top StoriesEuro zone economy faces growing risk of recession, survey shows
Russia jobless rate stays at record low of 3.9% in July
Date: September 1, 2022
MOSCOW (Reuters) – The number of people unemployed in Russia was 2.9 million in July, or 3.9% of the workforce, with the jobless rate staying at the record low reached in May, the statistics service said on Wednesday. Analysts polled by Reuters had forecast unemployment of 4.1%. Rosstat provided the following data: RUSSIAN UNEMPLOYMENT July...
German recession increasingly likely, bundesbank says
Date: August 22, 2022
FRANKFURT (Reuters) – A recession in Germany, the euro zone’s biggest economy, is increasingly likely and inflation will continue to accelerate and could peak at more than 10% this autumn, the Bundesbank said in a monthly report on Monday. With its oversized industry heavily exposed to Russian gas, Germany is among the most vulnerable to...
Record numbers resign in France as bargaining power balance shifts -labour ministry
Date: August 19, 2022
By Myriam Rivet and Tassilo Hummel PARIS (Reuters) – More French employees than ever quit their jobs at the end of 2021 and start of 2022, as the balance of bargaining power shifts away from employers, a labour ministry study showed on Thursday. Over one million quit between October and March, the study by the...
Luxury sneakers may be a step too far for cash-strapped gen Z
Date: August 18, 2022
By Casey Hall and Mimosa Spencer SHANGHAI/PARIS (Reuters) – From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such “aspirational” purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China...
Analysis-China central bank, under pressure to ease, is hemmed-in by inflation, fed jitters
Date: August 17, 2022
By Kevin Yao BEIJING (Reuters) – China’s central bank is set to take more easing steps, pressured by a shaky economy that is undercutting jobs, but it faces limited room to manoeuvre due to worries over rising inflation and capital flight, policy insiders and analysts said. Analysts now expect cuts in the country’s benchmark lending...
Sterling little changed after mixed labour market data
Date: August 16, 2022
By Samuel Indyk LONDON (Reuters) – The British pound was little changed on Tuesday, having briefly fallen to its lowest level in over a week, after mixed data showed a jobs market that is still hot, although some early signs it may be starting to cool. Britain’s unemployment rate held close to a half-century low,...