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Recent Editions
Human Times
North America
The U.S. labor market unexpectedly contracted in July, shedding 23,000 jobs compared with economists’ expectations for an 83,000 gain, while revisions showed that May and June added 103,000 fewer jobs than previously reported. Despite the decline in employment, the unemployment rate edged down to 4.1% from 4.2% as more Americans left the labor force altogether. The figures have raised fresh concerns about the strength of the economy after a period of relatively stable hiring. Although lower immigration has reduced the number of new jobs needed to keep employment steady, both hiring and layoffs remain subdued, and nearly three in 10 unemployed Americans have now been looking for work for more than six months. The weaker jobs data could also complicate the Federal Reserve’s consideration of a September interest-rate increase. Some officials have recently emphasized elevated inflation and supported tighter monetary policy, but the July contraction and downward revisions have made the labor market appear more fragile. Traders slightly reduced their expectations for a September rate increase following the report, with another jobs report and additional inflation data due before the Fed’s next meeting.
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Human Times
UK
The UK job market is showing signs of recovery, with permanent appointments stabilising in July after 45 months of decline, according to a study by KPMG and the Recruitment and Employment Confederation (REC). The permanent placements index reached the 50-point threshold after almost four years of contraction. Vacancies also improved, reaching their highest level since September 2024, while part-time hiring grew at its fastest pace since August 2023. Demand for staff fell at its slowest rate in 22 months and permanent staff pay increased at its fastest rate in six months. Callum Licence, head of advisory at KPMG, said: "With a new government, businesses will be looking for signs that new policies can translate into greater confidence to invest and hire." Maxine Bligh from REC said: "Rays of light are beginning to break through for the job market as employers revive hiring plans."
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Human Times
Europe
The UK job market is showing signs of recovery, with permanent appointments stabilising in July after 45 months of decline, according to a study by KPMG and the Recruitment and Employment Confederation (REC). The permanent placements index reached the 50-point threshold after almost four years of contraction. Vacancies also improved, reaching their highest level since September 2024, while part-time hiring grew at its fastest pace since August 2023. Demand for staff fell at its slowest rate in 22 months and permanent staff pay increased at its fastest rate in six months. Callum Licence, head of advisory at KPMG, said: "With a new government, businesses will be looking for signs that new policies can translate into greater confidence to invest and hire." Maxine Bligh from REC said: "Rays of light are beginning to break through for the job market as employers revive hiring plans."
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Human Times
Middle East
A fire at a sofa manufacturing factory in Riyadh has resulted in the deaths of 16 Bangladeshi migrant workers, officials in Dhaka reported on Monday. The blaze erupted on Sunday in the Musa Sanaiya industrial area. Bangladesh's Ministry of Foreign Affairs is overseeing the situation, with embassy officials collaborating with Saudi authorities for repatriation. Expatriates' Welfare and Overseas Employment Minister Ariful Haque Choudhury said: "We will ensure necessary assistance and compensation for the bereaved families." Saudi Arabia hosts around 3.5m Bangladeshi workers, who sent home over $2.7bn in remittances last year.
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