US unemployment rate falls to 7.9% in September: govt

20:45, October 02, 2020

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  Japan unemployment rises to highest rate since 2017

  People wearing face masks use an autowalk in Tokyo, Japan, June 14, 2020. (File photo: Xinhua/Du Xiaoyi)Japans unemployment rate rose to 3.0 percent in August, the highest figure since mid-2017, official data showed Friday, illustrating the pandemics effect on the countrys tight labour market.The figure, up 0.1 percentage points from July, is the first time since May 2017 that the rate has stood at three percent or higher, according to the internal affairs ministry data.Separate data compiled by the labour ministry showed there were only 104 job openings for every 100 job-seekers in August, worsening from 108 to 100 in the previous month.Japan was already struggling with the effects of natural disasters and a hike in consumption tax before the coronavirus pandemic crippled the global economy.Once it hit, there were no mandatory lockdowns in the country, with the government instead asking people to stay at home -- a request that was largely heeded.But that, coupled with a shuttering of the countrys borders, battered tourism and consumer spending, with the hospitality industry hit particularly hard.Japans labour market is notoriously tight, with employers struggling to hire and the working-age population shrinking in a rapidly ageing society.Former prime minister Shinzo Abe sought to address that by bringing more women and older people into the workforce, as well as slightly loosening the countrys strict immigration policy.His successor Yoshihide Suga, who took office last month, has pledged to continue Abes policies.

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  Israel's unemployment exceeds 900,000

  30 -- The total number of unemployed people in Israel exceeded 900,000, the Israel Employment Service announced Wednesday. 17, a day before a full nationwide lockdown took effect in Israel, 178,020 additional Israelis have applied for unemployment benefits, the bureau said.The data also show that 6

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  US hiring likely slowed in September for 3rd straight month

  In this July 9, 2020, file photo, people wait to speak with representatives from the Oklahoma Employment Security Commission about unemployment claims in Midwest City, Okla.(Photo: AP)A critical snapshot of the job market and the economy to be released Friday is expected to show a further slowdown in hiring as the nations viral caseload creeps higher and as government financial aid has faded.When the Labor Department issues its September jobs report, economists predict it will show a gain of 850,000, according to a survey by data provider FactSet. That would mark a third straight monthly slowdown, after Junes 4.8 million job gain, Julys 1.7 million and Augusts 1.4 million.If the forecast for September proves accurate, it would mean that the economy has regained only slightly more than half the 22 million jobs that vanished when the pandemic flattened the economy in early spring. Should job gains continue to remain below 1 million a month, it would take until late 2021 or 2022 to recoup them all.This will be the last jobs monthly report before the U.S. presidential election on Nov. 3. Polls consistently show that the economy is a key issue for voters.So far, hiring has rebounded quickly compared with previous recessions. The gains have mainly reflected millions of temporarily laid-off Americans who were called back to work when retailers, restaurants, medical offices and other businesses reopened, at least partly, from their pandemic-induced shutdowns.But slowing job growth has raised the specter of a prolonged downturn that feeds on itself and becomes harder to fully reverse. Many temporary layoffs are becoming permanent as hotels, restaurants, airlines, retailers, entertainment venues and other employers anticipate a longer slump than they initially expected. There is also growing fear of a resurgence of the virus, which would compound the threat.The longer that laid-off workers fail to find jobs, the more likely it is that they will have ...