unemployment
French unemployment for the first quarter of the year held steady at 7.5% , according to INSEE. This was the same figure as the last two quarters, however, was a smidge higher than analyst expectations of 7.4%. The number of unemployed people was 2.3 million, an increase of about 6,000 from the previous quarter. On the other hand, the unemployment rate for people between the ages of 25 and 49 dropped to 6.8%, a decrease of 0.2%. However, the unemployment rate for people between the ages of 15 to 24 rose to 18.1%, a jump of 0.6%, whereas for the over 50s, the jobless rate came in at 5.1%, inchi...
Euronews (English)
Annual pay growth excluding bonuses averaged 6% between January and March, unchanged from last month according to figures from the Office for National Statistics (ONS). It had been expected to slow to 5.9% between January and March. Taking inflation - which measures the pace of price rises - into account, wages were up by 2.4%. Unemployment, meanwhile rose to 4.3% between January and March, the highest for almost a year, the ONS said. The number of vacancies also slowed meaning more unemployed people are competing for the same jobs. Liz McKeown, the ONS's director of economic statistics, said:...
Euronews (English)
Unemployment across Europe showed little change in March, compared to February, according to Eurostat. The rate in the Eurozone remained at 6.5%, the same as in the first two months of the year and down from 6.6% in March 2023. Across the 27 countries in the EU, the rate slightly decreased to 6% from 6.1% in February. Compared to March last year, it remained unchanged. There was an estimated 13.258 million people without jobs in the EU, of whom 11.087 million in the euro area, were unemployed in March 2024. France works to find further ways to scale back on unemployment benefits UK unemploymen...
Euronews (English)
By BOOM FACT Check Team Claim: A viral video shows actor Ranveer Singh criticising Prime Minister Narendra Modi over rising unemployment and soaring inflation. Fact: BOOM found that the video is a deepfake. It is digitally altered with a synthetic voice clone and in the original video, which was an interview given to Asian News International (ANI), the actor praised the prime minister and said the latter was celebrating India's cultural heritage. Tools used: BOOM analysed the video using Itisaar, a deepfake detection tool developed by the Indian Institute of Technology (IIT) Jodhpur. The tool ...
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The Spanish unemployment report for the first quarter (Q1) of 2024 was released on Friday morning and showed that unemployment in the country rose to 12.29% from 11.80% in Q1 2023, according to the National Statistics Institute (INE). This was also more than analyst forecasts of 11.80%. This higher figure comes as Spain continues to struggle with a significant number of its employment contracts being temporary, due to its massive tourism and hospitality sector, as well as chronically low productivity. Market measures supporting job stability in SpainAlthough an increase from the previous quart...
Euronews (English)
Strikes called by Greece’s largest labour union on Wednesday halted ferries, disrupted public transport services and left some state-run hospitals running on emergency staffing levels in Athens and elsewhere. The General Confederation of Greek Labor, GSEE, led the strikes to demand the restoration of collective bargaining rights that were axed more than a decade ago during a severe financial crisis. Unemployment hit a record high of more than 27% in 2013, and has been dropping in the years since. However, it crept up to 11% in February, its highest level since August 2023. In Athens, protester...
Euronews (English)
The eurozone is facing weaker-than-expected growth prospects over the next two years and inflation may recede as rapidly as many would hope, leading to fewer rate cuts from the European Central Bank (ECB), suggests the latest economic forecast from global credit rating agency S&P. The bloc is going to have 0.7% GDP growth this year, slightly lower than the 0.8% in the previous forecast by S&P Global Ratings. There are doubts that the rebound in growth will be strong after 2024, partially because of alarmingly low productivity, which has an impact on economic output, employment and wages. "The ...
Euronews (English)
The fight against rising prices and social inequalities are the most important issues for European voters ahead of the European Parliament elections in June, according to an exclusive poll by Ipsos for Euronews. Beating out topics like climate change and immigration, economic issues represent four out of the top five topics that Europeans think should be the highest priorities for incoming decision-makers. The first-of-its-kind survey, conducted in 18 countries representing 96% of the EU's population, found that rising prices remain the leading electoral issue for Europeans, followed closely b...
Euronews (English)
The National Bank of Ukraine announced its March interest rate decision on Thursday, slashing key policy rates by 50 basis points, to 14.5%. According to the central bank, steady foreign exchange rates, reducing inflation and falling risks of decreased foreign aid were behind this decision. Price growth in Ukraine slowed more than expected to 4.3% in February 2024. However, the National Bank of Ukraine said: "The course of the full-scale war continues to be the key risk to inflation dynamics and economic development." The country has recently been approved for the Ukraine Facility programme by...
Euronews (English)
Inflation in the United States saw a sharper-than-anticipated rise in February, echoing the unsettling trend seen in January and sending worrying signals about the likelihood of imminent Federal Reserve rate cuts. The Consumer Price Index (CPI), as reported by the Bureau of Labor Statistics, climbed by 3.2% year-on-year in February 2024, slightly exceeding the 3.1% increase recorded in January and surpassing forecasts which also stood at 3.1%.Month-on-month, inflation rose as anticipated by 0.4%, a quickening on January's 0.3% pace. Excluding volatile components like energy and food, the core ...
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