Employees in India will earn interest on inoperative accounts from new financial year beginning from April 2016. Employees' Provident Fund Organization (EPFO) has taken a decision to offer benefit of accrual of interest on inoperative accounts.
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South Africa's unemployment rate drops to 24.5% in the fourth quarter due to increased employment in the finance industry which offsets job losses in agriculture and construction sector. But with the major sectors laying off jobs, and the cost cutting of the government will sure make the unemployment rate will rise again.
Punjab drug consume is one of the higest in India. The main reason of this is unemployment and frustrated economic expectations. Another factor that plays an important role is the easy access to drugs.
Reports show that 73 percent women were joining the workforce in 2014, compared to 63 percent in 2005. The rise has also pulled the overall employment rates up for Germany at 78 percent. German's employment rate is growing faster than any other EU country, although the record remains to be held by Sweden.
Europe recession looks enduring, warns the IPPR report. It said the severe unemployment and underemployment in Europe are signals of an alarming situation about the deepening recession.
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
The labor market in Brazil, one of the BRICS (Brazil, Russia, India, China and South Africa) nations, is fast worsening owing to intensifying recession in the domestic economy. The unemployment rate rose to 7.6 percent from the record low of 4.3 percent at the end of 2014. Many industrial estates in Brazil are running down signaling next big crisis for the economy.
American employers increased jobs at a quick pace last September, a signal that the labor market is close to full strength. This trend could possibly persuade the Federal Reserve to raise interest rates at one of its two remaining meetings this year, according to the Business Insider.
Though US business investment marginally eased in August, the new home sales on the upward move during August. The latest data for August indicates that the US economy is not impacted much in line with ongoing global unrest. The US economy is growing as per the forecast for GDP growth rate of 1.4 percent for the third quarter. Barring aircraft and defense equipment, business investment showed a marginal drop of 0.2 percent during the month. The August' drop comes close after gains in July that were considered to be the biggest upward movement in the year boosting business confidence that American corporate sector is not disturbed by the sluggish global economy. New home sales in August rose 5.7 percent to annual growth of 552,000 indicating highest level since 2008. This growth in home sales was higher than the forecasts.
Falling oil price is taking its toll in Norway as the country central bank cuts interest rate again for the second times this year and the third time in 10 months. Oeystein Olsen, Norway's Central Bank governor announced the rate cut on Thursday citing that slow economic growth as the main reason.
The output for German industry soared for the month of July at its quickest rates so far this year, shown by the data from the Economy Ministry on Monday. This means that Europes's biggest economy was powered even at the beginning of Q3 according to Reuters.
The last week witnessed a sudden jump in new applications for unemployment benefits while the four-week average showing a healthy situation in the job market as it touched a record low since 15 April 2000.
Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
Federal Reserve's Vice Chairman Stanley Fischer stated that although the US has achieved almost full employment, inflation is temporarily low.
On a stiflingly hot summer night, the ancient Greek amphitheatre of Epidaurus is packed to capacity for a performance of a 2,400-year-old play by Aristophanes -- testimony to Greeks' enduring love of theater despite years of grinding economic crisis.