Nigeria's unemployment rate is reported as 4.1%, the lowest in years, but analysts argue that it is an undercount due to the country's new methodology that classifies the employed as those working for at least one hour a week.
Initial jobless claims fell by 4,000 to 228,000 in the week ending August 26, the lowest level since July 29, contrary to economists' estimated rise, indicating a positive trend in the labor market.
Despite weakening economic growth, the unemployment rate remains low, which is puzzling economists and could lead to a "full-employment stagnation" scenario with a potential recession and low unemployment rates, posing challenges for the Federal Reserve and the overall economy.
The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months, indicating a resilient labor market despite higher interest rates aimed at curbing hiring.
Summary: South Korea's unemployment rate in August reached a record low of 2%, the lowest level since June 1999, while Japan's corporate confidence fell in September, according to the Reuters Tankan poll.
The latest State of Working India report reveals that economic growth in India has led to a decrease in job disparities and greater upward mobility, but job creation has not kept pace with GDP growth, particularly in the manufacturing sector, and there are deep divides in pay across gender, caste, and religion. The COVID-19 pandemic further increased reliance on agriculture and self-employment, particularly among women.
The United States is expected to add 170,000 jobs in September, which would mark the fourth consecutive month with an increase below 200,000, potentially exacerbating the labor shortage and making it difficult for the Fed to control inflation. The unemployment rate is forecast to fall slightly to 3.7%, while wage growth is expected to rise 0.3%. The impact of labor-union strikes, such as the expanded strike by auto workers, could also affect employment growth.
U.S. job growth is expected to have slowed in September, but the unemployment rate likely decreased from a 1-1/2-year high, indicating the underlying strength of the economy; wage gains are also expected to remain elevated.
India's retail inflation is expected to drop below 6% in September due to cooling prices for essential commodities, although food inflation stood at around 10% in August.
The Indian economy grew 7.8% in the first quarter, leading to improved employment numbers and a decrease in the unemployment rate in urban areas. Female labor force participation also increased, but there is still a significant gender disparity in unemployment rates.
British employers reduced job vacancies for the first time in over two-and-a-half years in September, signaling a cooling in the labor market, although the decline was marginal and mainly in the public sector.
Australia's unemployment rate fell to 3.6% in September, raising the possibility of an interest rate increase by the Reserve Bank of Australia in November.
Australia's unemployment rate has dropped to 3.6 percent, but this decrease is attributed to a decline in workforce participation rather than job creation, leading economists to estimate that there is a 25 percent chance of a rate rise in November.
The number of US jobless claims fell to its lowest level in eight months last week, indicating that businesses are holding onto workers despite higher interest rates, but the number of continuing claims rose to its highest level in three months, suggesting that people already unemployed are struggling to find new jobs.
The rate of UK unemployment rose to 4.2% in the three months to the end of August, while the number of people in work fell by 0.3 percentage points, signaling a slowdown in the labor market and a potential economic downturn.
