Unemployment

LONDON, May 17 (Xinhua) -- Britain's unemployment rate fell to 3.7 percent in the first quarter of 2022, the lowest level since 1974, according to figures released by the Office for National Statistics (ONS) on Tuesday. For the first time since ONS' records began, there are fewer unemployed people than job vacancies in the country. And both the employment and inactivity rates increased in the first quarter, said the ONS. The employment rate increased by 0.1 percentage points in the quarter to 75.7 percent, while the economic inactivity rate also increased by 0.1 percentage points to 21.4 percent. The labor market showed a "mixed picture," said Darren Morgan, ONS' director of economic statistics. "Total employment, while up on the quarter, remains below its pre-pandemic level. Since the start of the pandemic, around half a million more people have completely disengaged from the labor market." Both average total pay (including bonuses) and regular pay (excluding bonuses) … [Read more...] about Britain’s unemployment rate drops to 3.7 pct, lowest since 1974

The Governor of the Bank of England has warned there is “very real income shock” coming from energy prices and “apocalyptic” food prices but stood by the Bank’s policy decisions. Andrew Bailey said he felt “helpless” as he defended the bank of England’s monetary policy despite households being battered by soaring inflation. Mr Bailey told MPs at the Treasury Select Committee on Monday that UK consumer demand will be impacted by current inflation, which is the highest in 30 years, and this is expected to cause higher unemployment. The Office for National statistics recorded inflation at 7% in March and later this week is expected to unveil over 8% inflation for last month. Recommended Coleen Rooney to resume evidence in Rebekah Vardy court battle - live ‘Putin likely to have lost third of troops in Ukraine’ – follow live The Bank of England has said inflation is likely to peak at 10.25% during the final quarter of 2022. “The … [Read more...] about Bank of England chief warns over ‘apocalyptic’ food price rises

If you missed rent payments because of the pandemic, the window to apply for state help in paying what you owe has closed. California’s Housing Is Key program was set up to pay all of the rent debt that eligible renters had run up since April 2020. Landlords could apply too if their tenants met the program’s criteria and provided the necessary paperwork. And if a tenant has an application pending, the landlord can’t seek to evict you before July for any rent debt you amassed from March 2020 to March 2022. The state announced in mid-March, however, that the program would stop accepting applications on March 31. Alex Traverso, a spokesman for the state Department of Housing and Community Development, said the program is running short of funds, which is why it’s shutting down. As of March 29, the state had received more than 480,000 completed applications and distributed more than $2.3 billion on behalf of almost 206,000 households. The grants, which can cover unpaid rent and … [Read more...] about Californians behind on their rent can still get help. But you need to apply now

The Congress Tuesday put its weight behind party leader P. Chidambaram, saying the CBI raids against him and his son in connection with an 11-year-old case are "wrong" and aimed at diverting attention from the key issues of inflation and unemployment. The party also said P. Chidambaram is a nationalist and patriot whose commitment to the country is beyond question. The CBI registered a fresh case against Lok Sabha MP Karti Chidambaram to probe the allegation of facilitating visas of 250 Chinese nationals in lieu of ₹50 lakh when his father P. Chidambaram was Union Home Minister. The agency also conducted coordinated searches at 10 locations in multiple cities including the Mr. Chidambarams’ residences in Chennai and Delhi. Senior Congress spokesperson Ajay Maken told reporters at a press conference here that the "raids were wrong". "The Congress party stands behind P. Chidambaram. This is being done to divert the attention of people from the issue of rising inflation and … [Read more...] about CBI raids wrong, party stands behind Chidambaram: Congress

A heartbroken husband has paid tribute to a PCSO who “couldn’t do enough” for others as a “strange, highly sexualised” loner was found guilty of her brutal murder. Speaking outside court, widowed Paul James fought back tears as he spoke of his “amazing” wife Julia who was ambushed in the woods while walking her dog in April 2021. Jurors took just over an hour to convict Callum Wheeler, 22, of bludgeoning the 53-year-old grandmother to death with a 3kg railway jack handle. Mr James described his wife, who worked supporting victims of domestic abuse, as the “funniest person I have ever met”, adding: "She just helped everybody, she just couldn't do enough." Julia with her dog Toby ( Image: PA) Julia James was found beaten to death as she walked her Jack Russell dog Toby in the countryside near her home in Kent ( Image: PA) "She was just amazing, I was so proud of her. The work she did was just amazing, to help so many other people, women who were in … [Read more...] about Heartbroken widower pays tribute to murdered PCSO Julia James who ‘couldn’t do enough’

Colorado’s eight billionaires have acquired $9.7 billion in new wealth in the past year, a contrast to the hundreds of thousands of Coloradans who lost their jobs, savings or livelihoods . None gained more between March 18, 2020, and Thursday than Charlie Ergen , the co-founder of Dish Network and EchoStar who is now Colorado’s richest person. Ergen was worth $5.4 billion last March and is now worth $10.7 billion, according to Forbes data . That’s a gain of 98% that puts him ahead of investor Philip Anschutz , who saw his net worth drop during the pandemic, from $11 billion to $10.1 billion, or about 8%. The economic downturn of 2020 was different in some ways than the Great Recession , as seen in these billionaire gains, said Markus Schneider , a professor of economics at the University of Denver . The stock market has soared since hitting a nadir in March 2020, bringing investors large gains even as unemployment rates have remained well above pre-pandemic … [Read more...] about Colorado’s billionaires are nearly $10 billion richer since March 2020

I don’t want to ruin your morning, but yesterday the governor of the Bank of England warned of an “apocalypse” in this country. Literally, that was the word he used. “[The issue] that I am going to sound rather apocalyptic about is food,” he said. The governor of the Bank of England, Andrew Bailey , sat in front of MPs to talk about why Britain faced such a sharply rising cost of living crisis. The war in Ukraine has led to an international shortage of essential foods such as wheat and cooking oils , he pointed out, which would be very dire for poorer people in Britain. The invasion of Ukraine has also raised energy prices – another problem largely out of our control. Now, I don’t want to mention the B-word, or even write about it – I’ve seen how angry it has made people over the last few years – but we have little choice but to face up to reality. Brexit is unavoidably and certainly making Britain’s rising cost of living worse. And our silence over the … [Read more...] about Our politicians won’t mention the B-word – but Brexit has made Britain’s economic crisis worse

A Cabinet minister said he was “surprised” by the Governor of the Bank of England issuing an “apocalyptic” warning about rising food prices. In a sign of the tension between the Government and the Bank, Brandon Lewis criticised Governor Andrew Bailey’s choice of words to describe the rising cost of living. Mr Bailey delivered a series of bombshell warnings about the impact of rising inflation and admitted he felt “helpless” in the face of global pressures during an appearance before MPs . The Government has insisted it supports the Bank of England’s independence, but behind the scenes, ministers have been critical of the failure to curb spiralling inflation. Mr Lewis’s public comments a day after the Governor’s appearance before MPs are a signal of the private concerns being expressed within the Cabinet about his effectiveness. Recommended Coleen Rooney to resume evidence in Rebekah Vardy court battle - live ‘Putin likely to have lost … [Read more...] about Cabinet minister ‘surprised’ by Bank Governor’s ‘apocalyptic’ inflation warning

Britain’s jobless rate has fallen to its lowest level for nearly 48 years, but workers have seen their pay fall further behind rocketing inflation, according to official figures. The rate of unemployment dropped to 3.7% in the three months to March – the lowest since October to December 1974, the Office for National Statistics (ONS) said. For the first time, there were fewer unemployed people than vacancies as job openings hit a record 1.3 million, although the fall in the rate – down from 3.8% in the three months to February – was also due to a rise in the number of people dropping out of the jobs market, the figures showed. Calls were mounting for an emergency Budget to offer help amid a crippling cost-of-living crisis as the ONS revealed that regular pay excluding bonuses dropped by 2.9% in March when taking Consumer Prices Index (CPI) inflation into account – the biggest fall since November 2011. Recommended Coleen Rooney to resume evidence in … [Read more...] about Jobless rate falls to lowest since 1974 but wages lag far behind inflation

School Teachers’ Federation of India’s (STFI) national general secretary C.N. Bharati on Tuesday slammed the BJP government at the Centre for “selling the assets belonging to the public sector units (PSUs), which will only further increase private wealth and exacerbate inequalities.” Addressing the media here, ahead of the three-day 8 th triennial conference scheduled to get under way in Vijayawada from May 20, Mr. Bharati deplored the Centre for “skirting key issues like unemployment and inflation, and whipping up communal sentiments.” He also condemned the “efforts to create a controversy around the historic Taj Mahal by communal forces.” The STFI leader informed that the meeting would deliberate upon key issues. On the first day, former judge K. Chandru would speak on ‘Social Justice’; All India Democratic Women’s Association (AIDWA) national general secretary Mariam Dhawale would dwell on the issue of women protection; Surjit Majumdar from Jawaharlal Nehru University would … [Read more...] about Centre’s policy to sell PSUs will aggravate inequalities, says STFI leader