Menu

Unemployment rates were higher in May than a year earlier in 222 of the 372 metropolitan areas, lower in 141 areas, and unchanged in 9 areas, the U.S. Bureau of Labor Statistics reported. Thirteen areas recorded jobless rates of at least 15.0 percent, while 9 areas registered rates below 5.0 percent. The national unemployment rate in May was 9.3 percent, not seasonally adjusted, compared with 9.1 percent a year earlier.

The share of farm receipts provided by government programmes rose slightly in OECD countries last year, reversing a declining trend in state support since 2004, according to a new OECD report.

Given the economic circumstances in the European Union during 2009, maintaining jobs and avoiding redundancies were to the fore in social partner discussions and actions across Europe in 2009, according to the new annual review of industrial relations developments in the EU from Eurofound's European Industrial Relations Observatory (EIRO). For the EU as a whole, despite the general decline in nominal pay increases in 2009, continuing a trend of wage moderation since 2008, the steep fall in inflation resulted in real pay increases in all countries bar Malta. While the inflation rate fell sharply, from 3,7% in 2008 to 1% in 2009, average real pay rose by 2,9%, compared to 0,5% in 2008.

Mortgage rates hit another record low this week, with the average conforming 30-year fixed mortgage rate dropping to 4.75 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.41 discount and origination points.

Earlier this year, Americans seemed to see some green shoots and there was a little economic optimism forming. At the moment, this optimism seems to have slowed down slightly. Looking ahead to the coming year, just three in ten U.S. adults (30%) say they expect the economy to improve while two in five (42%) say it will stay the same; 28% believe it will get worse. Last month, almost two in five Americans (38%) said they thought the economy would improve in the coming year while 34% said it would stay the same and 28% believed it would get worse.

Online advertised vacancies inched up by 19,600 in June to 4,154,000 following a small decline in May, according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series.

“Conserve paper and be green” is the mantra for the overwhelming majority (85%) of Americans, according to a recent survey of more than one thousand U.S. adults conducted by Harris Interactive® for DocuSign, Inc. The broad consumer survey reveals nearly three in four adults are frustrated with completing paper-based documents, and provides a compelling snapshot of consumer preferences and the growing role smartphones are having on the average person’s daily activities.

A majority of large employers now automatically enroll workers into their 401(k) plans, the nation's predominant vehicle for employees to save for retirement, according to a new survey by Towers Watson, a global professional services company. The survey also found that target-date funds are the most prevalent default investment option used for 401(k) plans.

Fitch Ratings says in its latest Sovereign Review and Outlook report that the outlook for the global economy and sovereign credit is at a critical and uncertain juncture. Economic data show the global recovery is strengthening, but concerns over sovereign debt sustainability in some euro area countries and renewed market volatility raise the risk of a double-dip recession.

The Communication approved by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union. It presents a set of tools to effectively strengthen the preventive and the corrective arms of the Stability and Growth Pact, extend surveillance to macro-economic imbalances and enforce effectively economic surveillance through appropriate sanctions and incentives. The establishment of a "European Semester" from January 2011 would become the cornerstone of economic policy coordination. By aligning in terms of timing the examination of national budgets and reform programmes, better ex ante coordination of economic policies will be ensured. The proposals in this Communication can all be agreed under the terms of the Lisbon Treaty and are meant for the 27 Member States of the EU, although more demanding rules will be applied for euro area Member States.