Treasury is revising all the numbers for the midyear budget update as economists warn of a difficult six months ahead
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Jim Chalmers has revealed December’s midyear budget update will project weaker growth and higher unemployment, as economists warn of a difficult six months ahead for the Australian economy.
Two days after a senior Reserve Bank official foreshadowed the potential for another interest rate rise in under two weeks’ time, the treasurer in a speech on Friday morning will say “higher inflation is putting people under pressure, tighter monetary policy is weighing on domestic activity, and we can see that in the softening of the labour market”.
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© Photograph: Darren England/AAP
© Photograph: Darren England/AAP
© Photograph: Darren England/AAP
© Illustration by Andrei Cojocaru; photos by Getty Images
Andrew Hauser says central bank faces ‘hard choices’ as it looks to balance risks of entrenched inflation with desire to protect labour market
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The chance of a fifth interest rate hike on Melbourne Cup day has jumped after Andrew Hauser, the Reserve Bank’s deputy governor, warned of “hard choices” amid a “materially worse” inflation outlook.
Hauser, speaking at an investment bank conference in Sydney on Wednesday morning, said the RBA monetary policy board members were juggling a slowing economy with fears that Australians were starting to lose faith in the central bank’s ability to bring inflation back to the 2.5% target.
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© Photograph: Lukas Coch/AAP
© Photograph: Lukas Coch/AAP
© Photograph: Lukas Coch/AAP
Latest ONS data presents mixed picture amid slump in job vacancies and analysts warning labour market is ‘running on idle’
Unemployment in the UK has fallen unexpectedly in the final snapshot of the jobs market before John Healey’s first budget next week.
The jobless rate fell to 4.7% in the three months to August, from 4.9% according to the Office for National Statistics. City economists had forecast a rise to 5%.
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© Photograph: Susannah Ireland/The Guardian
© Photograph: Susannah Ireland/The Guardian
© Photograph: Susannah Ireland/The Guardian
© Karsten Moran for The New York Times
Downing Street delivered a rare rebuke to a senior member of Donald Trump’s administration
Asked why the Lib Dems were opposed to a third runway at Heathrow when they professed to be in favour of growth, Cooper said she did not accept that a third runway would produce all the benefits its supporters claimed.
She explained:
On Heathrow, it is clear from looking at all of the economic analysis of airport growth over the last few years that many of the promises made by all sorts of different airport companies simply haven’t come to bear.
The promise of higher wage jobs hasn’t been substantiated. Often it’s lower paid jobs, and often not as many as they’ve claimed.
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© Photograph: Manuel Balce Ceneta/AP
© Photograph: Manuel Balce Ceneta/AP
© Photograph: Manuel Balce Ceneta/AP
Exclusive: Former health secretary says upfront investment in support is needed ‘if we are going to end the Neet crisis’
Ministers should cut welfare spending to fund more employment support if it wants to end the youth Neet crisis, the author of a government-led review has said.
Alan Milburn, the Tony Blair-era health secretary, told the Guardian he believed ministers should reduce benefits payments to help pay for more employment support, opening a potentially contentious debate within the Labour party over welfare cuts.
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© Photograph: Jeff Moore/PA
© Photograph: Jeff Moore/PA
© Photograph: Jeff Moore/PA
Four in five new jobs created in Britain since 2014 were taken by migrants while the number of British people on out-of-work benefits increased by 2.3 million, according to a report from the Centre for Social Justice.
The post Migrants Taking Four in Five New Jobs appeared first on The Daily Sceptic.
In 2010, only 21.7% of the labor force had graduated from a higher education institution, a share that climbed to 42.1 out of every 100 by 2026, according to a report by the Economic Context Observatory of Diego Portales University (OCEC-UDP).
That means more qualified workers and higher productivity potential, but it does not mean greater chances of landing a job.
The National Institute of Statistics reported that in the June-August mobile quarter, the open unemployment rate reached 9.6%, with 44 consecutive months above eight percentage points.
RELATED: Chilean University Rectors Reject Education Cuts in 2027 Budget Bill
Among those who completed university or successfully completed technical-professional training, unemployment is also a serious problem, the OCEC-UDP said. It rose one point in the last 12 months to 8.3%. That implies 40,938 fewer jobs and a total of 356,286.
Women with higher education fare worst, with lack of work affecting 8.7 of every 100, compared with 7.8 for men, the OCEC-UDP said. By age group, educated unemployment is higher among those under 30, it said.
Chile es el país con la tasa de desempleo más alta de la región, según indican diversas publicaciones; y, si se analizan los países de la OCDE, el segundo. En nuestra región de Los Ríos la situación es alarmante, especialmente en jóvenes y mujeres. No se ve ningún proyecto nuevo… pic.twitter.com/dox1io85lC
— Iván Flores García (@ifloressenador) October 11, 2026
Another facet: many higher education graduates who appear employed are actually doing work below their preparation, according to OCEC-UDP. Qualification underemployment occurs when a person performs a task below their preparation and therefore generates added value lower than their potential.
You need 35 years of National Insurance contributions to get the full state pension. Ah, says David Craig, but the unemployed get 'pension credit', which pays exactly the same and comes with piles of freebies thrown in.
The post Want the Highest State Pension? Don’t Bother Working Too Much appeared first on The Daily Sceptic.
For Oakland Review of Books, Stephanie Uchino-Beach writes about getting laid off at an education tech company that transformed into an “AI-first outfit.” As as customer success manager, she acted as a liaison to district administrators, school principals, and teachers. While AI could automate some of her tasks, what about the core responsibilities of her CSM role: building real relationships and understanding an educator’s needs? An AI sees data points, not people. This is a sobering read from a former tech worker living in the Bay Area, and an edtech company that has gone all in on AI and forgotten about its mission.
Before I went to work for Silicon Valley, I was a lot of things. A few jobs before this last one, I was an elementary school teacher in Chicago, helping kids learn to read, creating units, planning lessons, and buying supplies with my own money on the weekends, like countless other teachers around the country. I grew up on the Peninsula, and I made the move into Customer Success to get a job that would let me move home. Tech was never my dream; it was a means to an end. My dad studied computer science and still works in tech to this day and enjoys it, so it seemed like a satisfying and fruitful career was plausible. I figured that once I broke in, all my problems would be solved: I could get a house, have a kid, and fulfill every middle-class dream that had always felt slightly out of reach for a millennial like myself.
And yet, job after job, I consistently left feeling unsatisfied. Unsatisfied by how I wasn’t growing and wasn’t developing my skills. Unsatisfied with poor managers who were just in the right place at the right time to be promoted but so often lacked the skills to provide the same success for their employees. Unsatisfied with how the products I worked on could do wrong by the communities we sold them to, even though every company said they were “mission-driven” and “put our customers first.”
It’s getting better all the time (Better, better, better) It’s getting better all the time I admit it’s getting better –The Beatles In an X post, Marko Jukic, senior analyst at Bismarck Analysis, lamented: “Enshittification” is sort of a “safe horny” term for what is really just outright impoverishment and declining living standards due to […]
The post US enshittification vs Chinese involution appeared first on Asia Times.
In this story for Dispatch, Lotte Brundle reports on a surprising trend: young women in the UK are pursuing careers in the death care industry. In a time of high unemployment, funeral home apprenticeships offer an alternative to university, where students accumulate significant debt. While the pay is low and the industry needs to do a better job building awareness that the trajectory exists, the young women who speak to Brundle find the work meaningful and rewarding.
Her inspiration to become an undertaker arrived, as many teenage epiphanies now do, via TikTok. Emily was 15 and had been considering becoming a teacher or journalist when she came across an American woman documenting life inside her own funeral home. “I’d never considered it as a career,” she says. “I didn’t know anyone who was an undertaker, but I just thought how interesting it was.”
Two hours later, she was still scrolling through the woman’s profile, engrossed. Running her own funeral home became Emily’s dream.
Between the first and the second quarter of 2026, 3.1 million unemployed persons aged 15-74 in the EU moved into employment, representing 23.2% of all unemployed in the first quarter of 2026. During this period, 7.0 million (52.8%) remained unemployed and 3.2 million (24.0%) moved out of the labour force.
These figures are taken from recently published data on labour market flows in the second quarter of 2026. The article presents a handful of findings from the more detailed Statistics Explained article on labour market flows.
Source dataset: lfsi_long_q
The visual and the table give an overview of all changes in labour market status. In the visual, the figures for employment, unemployment and out of the labour force refer to the number of people remaining in each status between the 2 quarters, while the arrows indicate the number of people moving from one status to another.
Source dataset: lfsi_long_q
Of all people in employment in the first quarter of 2026, 2.5 million (1.2%) became unemployed in the second quarter of 2026, and 4.8 million (2.3%) moved out of the labour force.
Of all people recorded as out of the labour force in the first quarter of 2026, 4.2 million (3.7%) entered employment in the second quarter of 2026 and 3.9 million (3.4%) became unemployed.
Government spokesman Pavlos Marinakis triggered an outrage when he proposed that the “unemployment benefits” should last just two months in order to force jobless to take up a work. According to Greek legislation, the unemployment benefit of 526 euros per month increased by 10% for each child runs for maximum 12 months provided that the […]
The post Gov’t spokesman proposes sharp cut of “unemployment benefits” down to just two months appeared first on Keep Talking Greece.
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