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Recent Editions
Human Times
North America
The U.S. labor market continued to show resilience in May, adding 172,000 jobs, well above economists’ expectations of 80,000, while the unemployment rate remained unchanged at 4.3%. The Labor Department report stated that leisure and hospitality led hiring with 70,000 new jobs, supported by seasonal demand and preparations for the upcoming World Cup. Healthcare and social assistance added 47,000 positions, while local government employment rose by 55,000 jobs. Construction also posted gains for a third consecutive month. Several sectors saw declines, however, including retail, finance, and information services. Air transportation employment fell by nearly 9,000 jobs, reflecting the impact of Spirit Airlines’ collapse. The report also included significant upward revisions to prior months, with March job growth revised to 214,000 and April revised to 179,000, indicating stronger labor market momentum than previously reported. The stronger hiring data has shifted attention at the Federal Reserve from potential interest rate cuts toward the possibility of future rate increases, particularly as inflation pressures persist. Treasury yields rose following the report as investors increased expectations that the Fed could tighten policy later this year.
Human Times
UK
Permanent hiring has fallen to its lowest level in 10 months, according to research by KPMG and the Recruitment and Employment Confederation (REC). Permanent hiring came in at 44.1 in May, the lowest figure since July last year, on an index where a reading below 50 signals contraction. The report shows that companies are increasingly opting for temporary workers due to low confidence in the economy, with the conflict in the Middle East pushing up inflation. Shop worker roles have been particularly affected, with high street businesses hit by higher minimum wage costs, taxes and energy bills. Neil Carberry, chief executive of the REC, said: "The clearest story in the economy right now is momentum being held up by uncertainty." Jon Holt, group chief executive and UK senior partner at KPMG, said: "Ongoing global and domestic uncertainty is making businesses more cautious, and that is increasingly reflected in hiring decisions."
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Human Times
Europe
The government will reimburse visa fees for fast-growing tech firms to attract top foreign talent. Finance minister Rachel Reeves announced the initiative as part of a new "concierge service" aimed at supporting companies in the digital, life sciences, and clean energy sectors. Ahead of the announcement at a London Tech Week event, Reeves said: "We are backing the UK's most ambitious firms to start, scale and stay here - with the finance, talent and support they need to succeed." Business secretary Peter Kyle has modelled the initiative on similar in France, Singapore and the US. He said: "If we want the next generation of world-changing firms to be built in Britain, we must make Britain the best place in the world not only to start a company but, crucially, to scale one . . . Britain has the ideas, talent, and ambition to lead the world - and this government is backing the businesses that will define our future."
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Human Times
Middle East
The United Nations Assistance Mission in Afghanistan (UNAMA) has expressed its concern regarding the recent arrests of women in Herat province for allegedly not adhering to "dress requirements." Local media reported that at least 21 women and girls were detained following a Taliban directive mandating women to wear a "proper hijab" in public. UNAMA stated: "We remind the de facto authorities that all people have the right to freedom of movement and that all persons, both women and men, are entitled to equality before the law." Since the Taliban regained power in 2021, they have imposed numerous restrictions on women, including access to education and employment, precipitating widespread international criticism. A UNICEF report warned that over 25,000 female teachers and health workers could be lost by 2030 if these restrictions persist.
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