US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring.
US consumers continued to spend in July but the gains were much slower than the prior two months amid a surge in coronavirus cases, and confidence remained in a “depressed range,” according to new data released on Friday.
The nature of the outbreak means women are more likely than men to lose or quit their jobs in vulnerable low-paying workplaces like bars, conference venues, hairdressing salons, hotels, pubs and restaurants, which faced extensive shutdowns.
According to the Office for National Statistics, the rate was in comparison with 5.1 per cent in the three months to the end of December.
The number of Americans filing new claims for unemployment benefits dropped to a one-year low last week as economic activity rebounds after weather-related disruptions in February.
Italy’s economy shrank by 2 per cent in the fourth quarter of last year from the previous three months, preliminary data showed, a slightly smaller slump than expected after a rebound in the third quarter.
According to analysts forecast, the unemployment rate will surge after the UK government puts an end to its scheme of paying wages of private-sector workers at the end of April.
British employers reduced the number of new permanent staff they hired through recruitment agencies by the most since mid 2020 last month due to concerns about the economic outlook, adding to signs that the market is becoming tougher for job seekers. A gauge of permanent staff hiring by the Recruitment and
British household goods company Wilko has collapsed owing to big debts, its boss announced Thursday, impacting about 12,500 jobs as high inflation and interest rates hurt consumers and businesses. The group, operating out of 400 UK stores as well as online selling cleaning and garden products in addition to other small
Decline in consumer prices and in producer prices for July has put China on the deflation track, and it has raised fears among Western market watchers that China, the second largest economy, could be entering a long-term deflationary period as had Japan in the last two decades. There is the undeniable fact that China’s post-Covid