Guests walk on a pedestrian bridge toward an entrance at MGM Grand Hotel in Las Vegas, Nevada, on Friday. Agence Frances-Presse
America’s jobs engine downshifted in August as employers unexpectedly held back hiring across major industries, another sign that the world’s largest economy could be weakening, government data showed on Friday.
The US unemployment rate dropped to near a 50-year low of 3.5% in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing.
The report was the latest indication of the headwinds to the American economy caused by the pandemic, which has slammed major industries, undermining economic growth, while causing about 26 million people to file new claims for jobless benefits since mid-March.
The Labor Department's closely watched monthly employment report on Friday could bolster economists' dire predictions that it would take several years to recover from the economic meltdown. Consumer confidence, manufacturing and services industries are also stabilizing, though at low levels, hopeful signs that the worst was over.
European Union diplomats said on Thursday they hoped a Brexit trade deal with Britain could be agreed by Friday or at the weekend, and EU officials said negotiators were likely to review progress in the next two days.
Air India’s employees are preparing to bid for the national carrier in partnership with a private equity fund and each employee will be asked to contribute Rs1 lakh towards the bid. “The Preliminary Information Memorandum (PIM) thankfully,
Pakistan government has released funds amounting to Rs548.89 million during first five months of the current fiscal year to execute 15 aviation sector projects under the Public Sector Development Programme (PSDP 2020-21) against the total allocation