unemployment

US: Unemployment Claims Soared To 3.3 Million Last Week

March 26, 2020 1:07 pm

A record number of Americans filed for their first week of unemployment benefits last week, as businesses shut down to slow the spread of the coronavirus.

Initial jobless claims soared to a seasonally adjusted 3.28 million in the week ended March 21, according to the Department of Labor.

That is the highest number of initial jobless claims in history, since the Department of Labor started tracking the data in 1967. The previous high was 695,000 claims filed in the week ending October 2, 1982.

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“Most historical comparisons of this scale are

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U.S. Adds 266,000 Jobs, Unemployment Rate Lowers To 3.5%

December 6, 2019 1:15 pm

The U.S. said it added some 266,000 jobs in the month of November, lowering the unemployment rate in the country to 3.5 per cent for the month.

This is according to data from the U.S. Bureau of Labor Statistics released on Friday.

Part of the boost came from the manufacturing sector after the end of a month-long auto-workers strike.

Stock futures jumped on the jobs data, which beat expectations.

The real number of unemployed people was little changed at 5.8 million people.

In October, the unemployment rate was 3.6 per cent.

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Ooni Seeks Urgent Solution To Youth Unemployment

November 21, 2019 2:45 am

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, yesterday urged various arms of government and public and private bodies in Nigeria to consider the alarming rate of youth unemployment and schools’ dropouts as a serious national issue that must be addressed without delay.
The monarch raised the alarm during a courtesy visit to him by officials of Longrich International Nigeria Ltd in Lagos. He stressed that the greatest threat to Nigeria’s democracy is unengaged youths, saying: “Until something is done to address it, Nigeria’s future is bleak, its corporate existence is at risk.

“We are not save in Nigeria with

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Unemployment rate rising to 33.5 percent by 2020 – FG

May 2, 2019 12:13 pm

The unemployment rate may increase from 23.1 percent to 33.5 percent by 2020, the Federal Government announced on Thursday.

The Minister of Labour and Employment Senator Chris Ngige disclosed this while declaring open a two-day workshop on breaking the resilience of high unemployment rate in the country in Abuja.

He described the incessant increase of unemployment in the country was alarming.

The Minister said the high unemployment rate of 23.1 per cent, and underemployment of 16.6 per cent presented by the National Bureau Statistics (NBS) in its 2019 report was alarming.