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Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from a fresh wave of virus cases.
According to the Australian Bureau of Statistics (ABS), total payroll jobs declined 2.2% in Victoria alone as virus-related restrictions were reimplemented following an upsurge in new cases. The state had documented a total of 384 fresh virus cases on Tuesday, surpassing its 532 record seen on Monday.
Virus-driven efforts and economic resumption heavily contributed to the country’s employment growth. This salvaged around 35% of payroll jobs lost from the virus outbreak, Tuesday’s figures showed. However, the country’s unemployment rate advanced 7.4% in June, placing higher than its initial record of 5.2%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
KYC Policy