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Recent Editions
Human Times
North America
The number of Americans filing new claims for unemployment benefits held steady at a low level in the seven days to April 27th, the Labor Department reported Thursday, pointing to a still fairly tight labor market that should continue to underpin the economy in the second quarter. Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 208,000, below the 212,000 predicted by economists polled by Reuters. The four-week average of claims, which softens some of the weekly volatility, fell by 3,500 to 210,000, while the total number of claimants, reported with a one week lag, totaled 1.77m. The Labor Department also reported that U.S. productivity rose by an annual 0.3% rate in the first quarter, down from a revised 3.5% gain in the prior three-month period and below the 0.5% expected among economists surveyed by Bloomberg. Unit labor costs, or what a business pays employees to produce one unit of output after taking into account changes in productivity, climbed at a 4.7% annual rate. "Productivity growth wasn't strong enough to significantly mitigate the rise in wages last quarter," said Nationwide Financial Markets Economist Oren Klachkin. "The strong rise in unit labor costs is another in a string of recent data points indicating that inflation pressures remain relatively high."
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UK
Trade unions have warned Labour not to dilute its package of workers' rights. Unite general secretary Sharon Graham said that crossing a red line would occur if the party does not fully commit to delivering its 'New Deal for Working People.' The plan, proposed by Angela Rayner in 2021, includes radical changes such as banning zero-hour contracts, ensuring regular hours for 12 weeks or more, and making flexible working a right from day one. Shadow ministers are discussing how to address concerns and are expected to seek union approval for the revised plan.
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Europe
Stellantis is recruiting a majority of its engineering workforce in lower-cost countries such as Morocco, India, and Brazil to contend with cheaper Chinese electric vehicles and slower demand. The carmaker is cutting costs to make more affordable vehicles and is seeking savings by hiring engineers in countries where the cost per employee is significantly lower than in hubs like Paris and Detroit, and it aims to have roughly two-thirds of its engineers in lower-cost countries in the long term. Western carmakers, including premium automakers like BMW, are also adding white-collar jobs in countries like India to tap local talent. The strategy is expected to add expertise in areas such as software, artificial intelligence, and battery-cell chemistries. However, the push to hire engineers in lower-cost countries has caused some development problems, requiring engineers from France and Italy to fix local issues.
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Middle East
Despite inclement weather, some employees in the UAE physically reported to work on Thursday, while the majority worked remotely, according to a poll conducted by Khaleej Times. The Ministry of Human Resources and Emiratisation advised private sector companies to implement flexible and remote work patterns. Some employees faced challenges in commuting to work, but prioritised safety while remaining productive. Others took precautions and started their journeys earlier to avoid delays. The roads were drenched but not flooded, allowing employees to reach their workplaces.
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