Skip to content
Jobless Claims May Reveal More Evidence of Recovery: Live Updates

Credit…Hannah Beier for The New York Times

Further evidence of a recovery in the labor market could emerge on Thursday morning when the Labor Ministry releases the latest data on new claims for unemployment benefits.

The increasing pace of vaccinations – combined with the easing of restrictions on business and consumer activity in many states, and the influx of stimulus funds – have helped boost hiring in recent weeks.

The government reported on Friday that employers created 916,000 jobs in March, double the increase in February and the most since August. The unemployment rate fell to 6 percent, the lowest since the start of the pandemic, with nearly 350,000 people joining the workforce.

Most experts expect a continued economic recovery, supported by the adoption of the Biden administration’s $ 1.9 trillion coronavirus relief package in March. Most individuals received payments of $ 1,400 provided by the bill, and the law funds are expected to add firepower to an economy that is expected to grow by more than 6% this year.

“As more and more services come online, I think we’ll see a substantial drop in the number of complaints,” said Rubeela Farooqi, chief US economist at High Frequency Economics.

However, there is still a long way to go.

Even after the job gains in March, the economy is 8.4 million jobs lower than it was in February 2020. Entire sectors, such as travel and recreation, as well as restaurants and bars, are just beginning to recover from the millions of job losses that followed the onset of the pandemic.

Jobless Claims May Reveal More Evidence of Recovery: Live Updates
Credit…An Rong Xu for the New York Times

Authorities are calling Taiwan’s drought the worst in more than half a century. And it exposes the enormous challenges of hosting the island’s semiconductor industry, which is an increasingly indispensable node in global supply chains for smartphones, cars and other keys. vault of modern life.

Chipmakers use a lot of water to clean their factories and wafers, the thin wafers of silicon that form the basis of chips, report Raymond Zhong and Amy Chang Chien for The New York Times. In 2019, Taiwan Semiconductor Manufacturing Company’s facility in Hsinchu consumed 63,000 tons of water per day, according to the company, more than 10% of the supply from two local reservoirs.

In recent months, the government has flown planes and burned chemicals to seed clouds over tanks. It built a seawater desalination plant in Hsinchu, which houses TSMC’s headquarters, and a pipeline connecting the city to the rainier north. He rationed water, reduced water pressure at night, and ordered industries to reduce their use. Some companies, including TSMC, transported trucks loaded with water from other regions.

But the most drastic measure has been the cessation of irrigation, which affects 183,000 acres of farmland, or about one-fifth of Taiwan’s irrigated land.

The Taiwanese public seems to have decided that rice cultivation is less important, both to the island and to the world, than semiconductors. The government subsidizes producers for lost income. But Chuang Cheng-deng, 55, fears that the thwarted harvest may cause customers to seek other suppliers, which could mean years of depressed earnings.

Jobless Claims May Reveal More Evidence of Recovery: Live Updates
Credit…Elliott Verdier for The New York Times

Prosecutors accuse the French branch of Swedish furniture giant Ikea and some of its former executives of devising a “spy system” from 2009 to 2012, in a criminal trial that captured attention of the public in France.

The alleged espionage has been used to investigate workers and union organizers, verify workers on sick leave, and assess customers seeking refunds for botched orders, Liz Alderman reports for The New York Times. A former soldier has been hired to carry out some of the more covert operations.

In all, 15 people are billed. A verdict from a panel of judges is scheduled for June 15.

The case sparked outrage in 2012 after the emails leaked to French media, and Ikea quickly fired several executives from its French unit, including its chief executive. There is no evidence that a similar surveillance has taken place in any of the other 52 countries where the global retailer is refining a fresh image of frugal and elegant character served with Swedish meatballs.

Lawyers for the victims described a methodical operation that followed two strands: one involving unwitting background and criminal checks on job applicants and employees, and another targeting union leaders and members.

Ikea’s lawyer, Emmanuel Daoud, denied that system-wide surveillance was carried out at Ikea stores in France. He argued that any breach of privacy had been the work of one person, Jean-François Paris, head of risk management for the French unit.

Emails and receipts showed that Mr Paris handed over much of the work to Jean-Pierre Fourès, who has monitored hundreds of job applicants, gleaning information from social media and other sources to speed up the process. checking and hiring. He also checked the backgrounds of unsuspecting customers who meddled with Ikea for big refunds. He insisted that he had never broken the law by gathering basic information.

The surveillance included career workers. In one case, Mr Foures was hired to investigate whether the deputy director of communications and merchandising at Ikea France, who was on a year’s sick leave to recover from the hepatitis C, had faked the severity of her illness when officials learned she had traveled to Morocco.

Jobless Claims May Reveal More Evidence of Recovery: Live Updates
Credit…Lucy Nicholson / Reuters
  • Carnival Cruise Line, the largest cruise operator in the United States, is optimistic that several of its United States-based lines will be operational by July, it said on Wednesday in releasing its financial statements from first trimester. Booking volumes for future Carnival cruises were around 90% higher in the first quarter of 2021 than in the previous quarter, “reflecting both strong pent-up demand and the long-term potential of the cruises,” Arnold Donald, CEO of Carnival Corporation, the cruise line’s parent company, said in a statement Wednesday. The company reported a net loss of $ 2 billion for the first quarter of 2021.

  • Unions representing employees of two large podcasting companies owned by Spotify, the audio streaming giant, announced Wednesday that they had ratified their first employment contracts. The larger of the two unions, with 65 employees, is at The Ringer, a sports and pop culture website with a podcasting network. The second union, within podcast production company Gimlet Media, has just under 50 employees. Both groups were among the first in the podcasting industry to unionize, and both are represented by the Writers Guild of America, East.

Source link