Labour market News

The German unemployment rate dropped to a new record low in May, data showed on Wednesday, in another sign of the strength of the labour market in Europe`s largest economy.

New claims for US jobless benefits drifted downward at the start of April, hitting their lowest level in six weeks, official figures showed Thursday.

The U.S. economy continued to show mixed signals from late November to early January, with improvements in the labour market and consumer spending offset by the drag of a strong dollar and low energy prices, the Federal Reserve said on Wednesday.

The US dollar gained on Tuesday as market expected the Federal Reserve to continue the interest rate hike in 2016.

The number of Americans filing new applications for unemployment benefits fell last week, suggesting a moderation in job growth in August was an aberration.

Prime Minister Narendra Modi is preparing to launch India`s biggest overhaul of labour laws since independence in a bid to create millions of manufacturing jobs, at the risk of stirring up a political backlash that could block other critical reforms.

The German economy, Europe`s biggest, is enjoying a robust recovery, fuelled by cheap oil, the weak euro and a boom in consumer spending, the country`s top economic institutes said Thursday, sharply upgrading their growth forecast for this year.

India has a slew of laws and rules that shape the labour market, regulating the terms of work, hiring and firing, and the working conditions.