The number of United States citizens filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.
The US economy created many more jobs than expected in December, according to the latest government data. Employers added 312,000 jobs, far ahead of predictions of 177,000, the Labor Department said.
Brazil's unemployment rate dipped slightly in July, as expected, extending a slow and bumpy labor market recovery as pivotal presidential elections loom.
A group of Venezuelan migrants has returned home from Peru at the expense of Nicolas Maduro's government. Facing an exodus from Venezuela, Maduro had proclaimed his countrymen “won't be slaves to anyone in the world.”
BMW and Hyundai Motor urged the U.S. not to impose tariffs on auto imports, joining General Motors Co. in pressing their case to the Commerce Department even as a top aide to President Donald Trump dismissed the concerns as “smoke and mirrors.”
Former Brazilian president Lula da Silva recommended European Union leaders to stop discussing balancing budgets and recapitalization of banks and find a solution to the current crisis through more economic growth, more trade and more jobs.
Economic stability depends on a strong middle class that can propel demand. We will not see this if growth does not lead to decent jobs, or if growth rewards the favoured few over the marginalized many.
Brazil’s President Dilma Rousseff said that Barak Obama’s visit this weekend strongly consolidates the perception that Brazil “could be an important partner” for the United States, during a press interview.
By President Barack Obama
In recent weeks, we've seen how turmoil and tragedy around the globe can affect our own prosperity and security; how events abroad often have implications for everything from markets on Wall Street to families' wallets on Main Street. And as a nation, we will continue to do everything we can both to promote stability and democracy in the Middle East and help the people of Japan recover from the devastating earthquake and tsunami.
The world economy is beset by problems such as high unemployment and rising prices which could fuel trade protectionism and even lead to war within nations, the head of the International Monetary Fund warned.