US jobless rate tumbles to near 4-year low

October 6, 2012

US_employee


Washington, October 6: The US unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama's re-election bid.


The Labor Department said on Friday the unemployment rate, a key focus in the race for the White House, dropped by 0.3 percentage point to its lowest point since January 2009 as employers added 114,000 workers to their payrolls.


The drop in the unemployment rate reflected an even bigger surge in new jobs captured by a survey of households and came even as Americans returned to the labor force to resume the hunt for work. The workforce had shrank in the prior two months.


Payrolls for July and August were revised to show 86,000 more jobs created than previous reported, mostly to reflect increases in government employment.


The jobless rate is now where it was when Obama took office in January 2009. Household employment increased 873,000, the most since June 1983, according to the household survey. The bulk of the gains were part-time jobs.


“There is something in these numbers for everyone. The rise in the participation rate shows somewhat of a real improvement in the labor market,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.


US stock index futures rose on the report, while prices for Treasury debt tumbled. The dollar rose versus the yen and the euro.


It was the second last report before the Nov. 6 election that pits Obama against Republican Mitt Romney.


A Reuters/Ipsos poll released on Thursday after Wednesday's first presidential debate showed Romney gained ground and is now viewed positively by 51 percent of voters. Obama's favorability rating remained unchanged at 56 percent.


Persistently poor labor market conditions led the Federal Reserve in September to announce a plan to buy $40 billion worth of mortgage-backed securities each month until it sees a sustained turnaround in employment.


The central bank, which also pledged to keep overnight lending rates near zero until at least mid-2015, hopes the purchases drive down long-term borrowing costs and spur the recovery.


The Fed's ultra-easy stance has started to free up credit, giving a lift to consumers, economists said. That, in turn, helped lift retail hiring in September.


Temporary help jobs, which are often seen as a harbinger for permanent hiring, fell 2,000 after being almost flat in August.
Manufacturing payrolls fell for a second straight month.


Construction employment rose 5,000, benefiting from the rise in home construction, as demand for housing rises against the backdrop of record low mortgage rates Government payrolls rose 10,000 after increasing 45,000 in August. Average hourly earnings rose 7 cents last month, which could support spending.



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News Network
June 20,2020

Sao Paulo, June 20: Brazil’s government confirmed on Friday that the country has risen above 1 million confirmed coronavirus cases, second only to the United States.

The country’s health ministry said that the total now stood at 10,32,913, up more than 50,000 from Thursday. The ministry said the sharp increase was due to corrections of previous days’ underreported numbers.

Brazilian President Jair Bolsonaro still downplays the risks of the virus after nearly 50,000 deaths from COVID-19 in three months, saying the impact of social isolation measures on the economy could be worse than the disease itself.

Specialists believe the actual number of cases in Brazil could be up to seven times higher than the official statistic. Johns Hopkins University says Brazil is performing an average of 14 tests per 1,00,000 people each day, and health experts say that number is up to 20 times less than needed to track the virus.

Official data show a downward trend of the virus in Brazil’s north, including the hard-hit region of the Amazon, a plateau in cases and deaths in the countries’ biggest cities near the Atlantic coast, but a rising curve in the south.

In the Brazilian countryside, which is much less prepared to handle a crisis, the pandemic is clearly growing. Many smaller cities have weaker health care systems and basic sanitation that’s insufficient to prevent contagion.

“There is a lot of regional inequality in our public health system and a shortage of professionals in the interior,” said Miguel Lago, executive director of Brazil’s Institute for Health Policy Studies, which advises public health officials.

That creates many health care deserts, with people going long distances to get attention. When they leave the hospital, the virus can go with them.

The cattle-producing state of Mato Grosso was barely touched by the virus when it hit the nation’s biggest cities in March. Sitting far from the coast, between the Bolivian border and Brazil’s capital of Brasilia, its 33 lakh residents led a mostly normal life until May. But now its people live under lockdown and meat producers have dozens of infected workers.

In Tangará da Serra, a city of 1,03,000 people in Mato Grosso, the mayor decided Friday to forbid the sale of alcoholic drinks for two weeks as an incentive for people to stay home.

Fᢩo Junqueira said the measure was needed after a spike in COVID-19 cases that filled 80% of the city’s 54 intensive care beds. The city has had nearly 300 cases of the disease, plus three fatalities.

In Rondonópolis, only 300 miles away from Tangará da Serra and home to a thriving economy, health authorities closed the local meatpacking industry after 92 cases were confirmed there. The city of 1,44,000 inhabitants counted 21 deaths from the virus and more than 600 cases. The mayor has also decided to limit sales of alcoholic beverages.

Even regions once considered examples of successful efforts against the virus are now struggling.

Porto Alegre, home to about 14 lakh people, had success in slowing the virus’ spread over the last three months. But now its mayor is considering increasing social isolation measures after ICU occupancy in the city jumped to 80% this month.

We were already making projections for schools to come back, Mayor Nelson Marchezan Jr. told The Associated Press. Now the trend is to impose more restrictions. Outside Sao Paulo city, five regions of the state’s countryside will have to close shops starting Monday due to a rise in coronavirus cases. Governor João Doria announced the decision Friday.

Dr. Mike Ryan, the World Health Organization’s executive director, said at a news conference that Brazil needs to increase its efforts to stop the spread of infections.

“The epidemic is still quite severe in Brazil. I believe health workers are working extremely hard and under pressure to be able to deal with the number of cases that they see on a daily basis,” Dr. Ryan said.

“Certainly the rise is not as exponential as it was previously, so there are some signs that the situation is stabilising. But we’ve seen this before in other epidemics in other countries.”

Margareth Dalcolmo, a clinical researcher and professor of respiratory medicine at the state-funded Oswaldo Cruz Foundation in Rio de Janeiro, believes the reopening in major cities and the virus traveling by road into Brazil’s heartland will keep the pressure on the country’s health system.

“The risk in the interior now is very big,” she said. “Our health system just can’t solve the most serious cases of COVID in many places of the countryside.”

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News Network
January 27,2020

Kabul, Jan 27: A passenger plane crashed on Monday in a Taliban-held area of Afghanistan's Ghazni province, local officials said.

Arif Noori, spokesman for the provincial governor, said the plane went down around 1:10 p.m. local time in Deh Yak district, which is held by the Taliban. Two provincial council members also confirmed the crash.

The number of people on board and their fate was not immediately known, nor was the cause of the crash.

Ariana Airlines, Afghanistan's national carrier, dismissed the claim that one of their planes had crashed in a statement on their website, saying all their aircraft were operational and safe.

The mountainous Ghazni province sits in the foothills of the Hindu Kush mountains and is bitterly cold in winter.

The last major commercial air crash in Afghanistan occurred in 2005 when a Kam Air flight from western Herat to the capital Kabul crashed into the mountains as it tried to land in snowy weather.

The war however has seen a number of deadly crashes of military aircraft. One of the most spectacular occurred in 2013 when an American Boeing 747 cargo jet crashed shortly after takeoff from Bagram air base north of Kabul en route to Dubai in the United Arab Emirates. All seven crew member were killed.

Afghanistan's aviation industry suffered desperately during the rule of the Taliban when its only airline Ariana was subject to punishing sanctions and allowed to fly only to Saudi Arabia for Hajj flights.

Since the overthrow of the religious regime smaller private airlines have emerged but the industry is still a nascent one.

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Agencies
May 28,2020

Washington, May 28: US President Donald Trump has warned social media giants that his government could "strongly regulate" or "close them down" after Twitter fact-checked one of his tweets for the first time.

"Republicans feel that Social Media Platforms totally silence conservatives voices," Xinhua news agency reported citing Trump as saying in a tweet to his 80 million followers on Wednesday.

"We will strongly regulate, or close them down, before we can ever allow this to happen."

Later in the day, he said that Twitter "has now shown everything we have been saying about them... is correct" and vowed "big action to follow".

The President's remarks came after Twitter slapped a warning label on one of his tweets on Tuesday, cautioning readers "Trump makes unsubstantiated claim that mail-in ballots will lead to voter fraud".

It was in response to Trump's tweet, without providing evidence, said: "There is NO WAY (ZERO!) that Mail-In Ballots will be anything less than substantially fraudulent."

Also Read: Obama was ‘grossly incompetent president’, says Donald Trump
It is unclear what regulatory steps the president could take without new laws passed by Congress, the BBC reported.

The White House is yet to offer further details.

Earlier, Trump has accused Twitter of interfering in this year's US presidential election scheduled for November, saying the company was "completely stifling free speech, and I, as president, will not allow it to happen".

With more than 52,000 tweets currently to his name, Trump is a prolific tweeter and relies on the platform to disseminate his views to millions of people.

He has used Twitter to launch attacks on opponents, with targets ranging from North Korean leader Kim Jong-un to his political rivals in the US.

In 2017 he used anti-Muslim tweets aimed at London Mayor Sadiq Khan to serve a domestic political purpose of warning about immigration.

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