UNEMPLOYMENT CLAIMS
Budget must address fundamental questions, why is private investment very sluggish: Congress
The Congress challenged the government's claims of sharp economic growth and job creation. It urged the forthcoming budget to address issues of sluggish private investment, stagnant private consumption, plummeting household savings, and rising household debt, among other concerns. Finance Minister Nirmala Sitharaman prepares to present the Budget for 2024-25 on July 23 amidst debates on the economy's performance and the need for tax relief to boost consumption and accelerate growth.
Future of youth in 'limbo' due to 'anti-education mindset' of BJP: Rahul Gandhi
Rahul Gandhi expresses concern over rising unemployment and declining salaries for IIT graduates, blaming BJP's education policies. He questions the government's plan to address the crisis and promises opposition support for affected youth.
'Cronyism' is Modi govt's primary economic policy: Congress
The Congress party criticised the Modi government for fostering cronyism, citing a media report showing increased market concentration in key industries under PM Modi's watch. Congress general secretary Jairam Ramesh highlighted concerns about oligopolies and monopolies emerging, urging fair competition and preventing undue advantage linked to political power.
'Jobless growth': Congress slams govt over 'accentuated unemployment crisis'
The Congress criticized the Modi government for exacerbating India's unemployment crisis due to failed policies like demonetization and GST. Citing a Citigroup report, they highlighted the urgent need for job creation and reforms to address the high unemployment rates in the country.
Gold price surge on weaker-than-expected US jobs report
The US services sector faced an unexpected contraction in the last quarter, with the ISM services gauge dropping to 48.80, marking the fastest pace of decline in four years. This contrasts with the S&P Global US Services Index, which reached its highest level since April 2022 at 55.30.
S&P 500, Nasdaq post record closing highs as data stokes hope for rate cut
Exciting market dynamics unfold as Paramount Global, National Amusements, and First Foundation make significant moves, shaping investor sentiment and market trends.
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US weekly jobless claims rise labor market slows
The labor market shows signs of easing as unemployment benefits claims increase. Layoffs rise due to interest rates impacting demand, and challenges in seasonal data adjustments persist. Market anticipates Fed's potential rate cuts. Job cuts decrease in June, but higher than last year. Nonfarm payrolls data may reveal job increase. Job openings ratio remains steady, while Fed deliberates policy changes post-hikes. Continuing claims rise due to policy effects.
US weekly jobless claims drift lower
Initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 233,000 for the week ended June 22, the Labor Department said on Thursday. The claims data included last Wednesday's Juneteenth National Independence Day, a new holiday. Claims tend to be volatile around public holidays.
Brent rises toward $86 as cooling US jobs market buoys rate cut hopes
Oil futures hit a seven-week high on Thursday as fresh data on a cooling U.S. jobs market added to hopes that the Federal Reserve could still cut interest rates this year.
Jharkhand govt contemplates to waive farm loan up to Rs 2 lakh: CM Champai Soren
"We waived Rs 40,000 farmers' loan in the past and are planning to increase it to Rs 2 lakh. Similarly, the current base of 125 unit free electricity will be increased to 200 units," Soren said while addressing a meeting at Gandhi Maidan in Jamshedpur to inaugurate and lay foundation of development projects.
Dollar gains on hawkish Fed, even as inflation cools
The dollar strengthened despite weak U.S. producer price data for May, following a hawkish Federal Reserve meeting. U.S. producer prices fell unexpectedly in May, with core prices remaining flat. The Federal Reserve's stance on interest rates also influenced the dollar's performance.
'Unemployment is not a problem': Arvind Panagariya's prescription to FM Nirmala Sitharaman ahead of Budget
Arvind Panagariya believes India's job challenge lies in reallocating capital to labor-intensive sectors rather than creating jobs. He emphasizes that too much capital is tied up in industries like machinery and pharmaceuticals that don't hire many workers. Panagariya suggests redirecting capital to sectors that generate more jobs per investment, stressing the upcoming budget as a critical policy statement.
Election Result 2024: Narendra Modi-led NDA wins world's largest elections, but there's a lot to brood over
Election Result 2024: The BJP-led National Democratic Alliance (NDA) is struggling to achieve the 400-seat target set by Prime Minister Narendra Modi in the 2024 Lok Sabha election. Falling short of the 272-seat majority mark, the BJP will need support from key allies like Chandrababu Naidu's TDP and Nitish Kumar's JD(U) to form the next government. Unemployment, inflation, inequality, farmers' protests, and concerns over a repressive government are major challenges for the new NDA coalition government.
Ground issues of unemployment, inflation seen in elections, says Manish Tewari after winning Chandigarh
After securing victory against BJP's Sanjay Tandon, Chandigarh's Congress candidate Manish Tewari claimed that the 18th look Sabha elections witnessed the ground issues of inflation, unemployment, and the concern that people had towards the Constitution.
Lok Sabha elections results: A win by any margin is just as sweet
The recent election results in India have shown a decline in BJP's performance, challenging Narendra Modi's authority. The BJP fell short of expectations, signaling a shift in the country's political landscape.
BJP's '400 paar' claim 'bakwas', won't cross 200 seats: Mallikarjun Kharge
Congress president Mallikarjun Kharge dismissed the BJP's '400 paar' claim as "bakwas" (nonsense), predicting the party won't surpass 200 seats in the upcoming Lok Sabha polls. In Amritsar, Kharge highlighted BJP's weakening presence in several states and reiterated Congress and INDIA bloc's growing influence and election promises, including farm debt waivers and job creation.
Delhi CM Kejriwal and his family cast their vote, appeals for vote against dictatorial thinking
Arvind Kejriwal was seen helping his ailing father to the polling station. Earlier, AAP leaders like Atishi, Saurabh Bharadwaj, and Kailash Gehlot also cast their votes. After casting his vote, the Delhi CM said he had voted to end unemployment and inflation.
Gold Price Today: Yellow metal opens at Rs 71,565/10 grams; silver jumps over Rs 1,100/kg
Gold prices on MCX for June futures contracts rose by 0.43% ahead of key US economic data. Fed officials indicated a delay in gaining confidence in inflation moving to 2%.
Paper leak, unemployment, law & order on voters' minds in Allahabad and Phulpur
Prayagraj comprises two Lok Sabha seats-Phulpur and Allahabad. Ujjwal Raman Singh, son of Rewati Raman Singh - a founding member of the SP who has held the seat twice - is contesting from Allahabad on a Congress ticket against BJP's Neeraj Tripathi. Tripathi is the son of Keshari Nath Tripathi, a BJP leader who has served as governor of West Bengal, Meghalaya, Bihar and Mizoram. In Phulpur, BJP's Praveen Patel is facing SP's Amar Nath Singh Maurya. Both seats are currently held by the BJP, but it is the Allababad seat that is seeing a close contest.
India's employment data: PM Modi's naukri numbers appraisal spars with Congress in election fray
Narendra Modi: India is in the final stages of a significant election campaign, with a focus on job discussions taking precedence. The ruling BJP, led by Prime Minister Narendra Modi, highlights positive employment indicators. However, the opposition, particularly Congress leader P. Chidambaram, challenged these claims and demanded transparency on job creation data.
US weekly jobless claims fall as labor market remains solid
Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 215,000 for the week ended May 18, the Labor Department said on Thursday. Economists polled by Reuters had forecast 220,000 claims in the latest week.
Is India suffering from an unemployment issue? PM Modi says the country is generating jobs
Prime Minister Narendra Modi defended his government's job creation efforts, citing a significant increase in taxpayers and EPFO subscribers, and growth in the startup sector. Modi emphasised his vision of a 'Viksit Bharat,' where every Indian can dream big. He highlighted achievements in manufacturing, research, and self-reliance. He pledges to focus on infrastructure and development if re-elected for a third term.
US weekly jobless claims fall; labor market gradually easing
The decline reversed a portion of the jump in the prior week, which had pushed claims to the highest level in more than eight months. The increase was largely attributed to a surge in applications in New York related to school spring breaks.
Gold Price Today: Yellow metal tops Rs 72,000/10 grams on Akshaya Tritiya; silver near Rs 85,000/kg
Gold prices surged on Akshaya Tritiya, breaking the Rs 72,000 mark, while silver also saw gains. US data hinting at Fed rate cuts bolstered the precious metals market.
US weekly jobless claims increase more than expected
Labor market shows signs of easing as new unemployment benefit claims by Americans exceed expectations, reaching 231,000. The rise, partly due to seasonal factors, reflects adjustments post-interest rate hikes, with expectations of Federal Reserve rate cuts.
India objects to ILO report that claims 83% unemployed are youth
Labour and employment secretary Sumita Dawra called senior ILO officials and conveyed the government's displeasure over the India Employment Report 2024, prepared by the Institute for Human Development in collaboration with a multilateral organisation, people familiar with the development told ET.
Better for society if Rahul Gandhi studies himself: MP assembly speaker on unemployment claim
Bhopal assembly speaker Narendra Singh Tomar rejects Rahul Gandhi's claim on unemployment, suggests he study himself. Praises BJP's candidate selection, confident of victory. Gandhi claims Indian youth unemployment higher than Pakistan, blames govt. policies hurting small businesses, addresses rally in Mohana, Gwalior district.
US jobless claims reach lowest level in a month
Applications for jobless benefits fell to their lowest in five weeks, despite more layoffs. The Labor Department reported a decrease of 12,000 in unemployment claims to 201,000 for the week ending Feb. 17. The four-week average of claims fell to 215,250. 1.86 million Americans were collecting jobless benefits during the week that ended Feb. 10. The U.S.
US weekly jobless claims fall more than expected to 202,000
The number of Americans filing new unemployment benefits claims fell more than expected last week, indicating tight labor market conditions. Initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 202,000 for the week ended December 30. The labor market is cooling following 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022.
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