Youth unemployment in Australia has hit a crisis point, with jobless rate reaching 21 percent in some key hotspots of the country, according to an analysis of the latest official figures released on Monday by welfare group Brotherhood of St Laurence.
U.S. President Barack Obama on Saturday urged Congress to extend unemployment benefits for millions of unemployed Americans, saying inaction of Congress will lead to self-inflicted wound for the economy.
The number of Americans initially applying for unemployment aid unexpectedly edged down last week to the lowest level in more than two months
The White House Thursday urged lawmakers to extend unemployment benefits for millions of unemployed Americans before Christmas, with national unemployment rate still hovering at an "unacceptably high" level.
The U.S. Federal Reserve' s surprise decision on delaying the taper of its bond purchases will damage their ability to communicate with and get consensus in the marketplace, economists said here Friday.
Friday' s jobs numbers continued to paint a bleak picture of the ongoing U.S. jobs crisis, and experts said at current rates the country will have to wait years to return to pre-recession levels of unemployment.
The unemployment rate in Australia climbed 0.1 point from 5.6 percent to 5.7 percent in June, the highest level since September 2009, the national news agency Australian Associated Press (AAP) reported on Thursday.
Lost in its search for a balance between economic growth and fiscal austerity, the European economy has been mired in recession. Due to the "austerity trap," the predicament is very likely to remain at least through the rest of the year.
French upper house of parliament, the Senate approved on Tuesday the Socialists' reform of labor code that offers more flexibility to firms and raised costs on employing staff.
Massive monetary stimulus taken by the major central banks is unlikely to ignite inflation as the inflation expectations have become more anchored than in the past and the response of inflation to changes in cyclical unemployment has become more muted, said the International Monetary Fund on Tuesday.
The U.S. Federal Reserve on Wednesday announced that it would continue buying longer-term Treasury securities and keep its key short-term rate near zero until the country's unemployment rate drops below 6.5 percent, so as to stimulate economic growth and job creation.
The number of U.S. people initially applying for unemployment aid last week surged due to the effects of superstorm Sandy, the U.S. Labor Department reported Thursday.
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