Australia Central Bank Signals Unemployment Has Peaked, Pushes Back Growth Upswing

Australia’s central bank indicated the jobless rate has peaked as signs mount the economy is improving, even as it pushed back forecasts of a growth upswing by a year.

In Republican Attacks on the Fed, Experts See a Shift

WASHINGTON — At a hearing in February, Representative Scott Garrett, a New Jersey Republican, complained that Congress and the Federal Reserve had traded places.

Australia trade deficit doubles on commodity prices

Australia's trade deficit more than doubled to A$2.26bn (£1.2b; $1.96bn) in September, data showed.

Jackson Hole Message Is Labor Markets Don’t Justify Higher Rates

Global central bankers led by Federal Reserve Chair Janet Yellen said labor markets still have further to heal before their economies can weather higher interest rates.

Jobless Claims in U.S. in Past Month Drop to Eight-Year Low

Fewer Americans filed applications for unemployment insurance benefits over the past month than at any time in more than eight years, signaling employers are hanging on to workers as demand improves.

Young hit hardest by recession, says IFS

Young people were hit far harder by the recession than older generations, a report has found. People aged 22-30 saw their household incomes fall by 13% between 2007 and 2013, while those between 31 and 59 saw a 7% drop, according to the Institute of Fiscal Studies (IFS).

Fed's Williams sees no rate hike until after mid-2015

(Reuters) - The Federal Reserve will probably need to keep interest rates near zero for at least another year, a top Fed official said on Monday, even as he expressed optimism the economy is well on its way to health.

Greeks hope for a bumper season as the tourists come back

Athens (AFP) - Greece is hoping for a new tourism record this year, with arrivals likely to exceed 20 million, in a new sign that the country is winning back foreigners as the economy gets back on its feet.

US economy records bumper jobs growth in April

The US economy created 288,000 jobs in April, the strongest monthly job creation since January 2012. The largest jobs gain came in professional and business services, which added 75,000 jobs during the month.

Wages beat inflation as unemployment falls below 7%

Wage growth has finally started to outpace inflation after years of falling real earnings, and unemployment has fallen to its lowest level in five years, figures released on Wednesday show.

Private sector jobs finally back to 2008 peak, but...

After a winter slowdown, the job market hit a milestone in March as the private sector finally recovered all the jobs lost in the 2008 financial crisis.

Puerto Rico's credit rating cut to junk by S&P

Standard & Poor's announced Tuesday that it had cut Puerto Rico's credit rating to junk, as the island's government struggles to get its finances in order. Puerto Rico, a U.S. commonwealth, faces $70 billion in debt and has been teetering on the edge of default in recent months.

Senate to vote on restoring jobless benefits to 1.3 million Americans

The Senate was poised for a crucial vote to temporarily restore long-term unemployment insurance on Tuesday, despite arctic conditions preventing some legislators from making it to Capitol Hill.

Economic Growth in U.S. to Quicken Next Year, Lagarde Says

The International Monetary Fund is raising its outlook for the U.S. economy, as a budget deal in Washington and the Federal Reserve’s plan to taper its bond buying ease doubts about the future, IMF Managing Director Christine Lagarde said.

The shutdown's surprise effect on jobs numbers

WASHINGTON: The government shutdown may have affected October's jobs numbers. But not in the expected way.

British Chambers of Commerce: Recovery gaining momentum

The British Chambers of Commerce has sharply upped its 2013 growth forecast, saying the economy is gaining momentum.

Greek MPs back public sector cuts amid protests

The parliament in Greece has narrowly approved a public sector reform bill that will see thousands of people lose their jobs. In a 153-140 vote, MPs backed the bill tied to the country's fresh 6.8bn euros (£5.8bn) of bailout loans, needed to keep Greece afloat.

Fed maintains pace of asset purchase

The US Federal Reserve has maintained the rate of its asset purchase programme at $85bn (£54bn) a month, aimed at boosting the economy.

G8 faces uncertain recoveries, turbulent markets

ENNISKILLEN, Northern Ireland — Europe is mired in debt and recession. Financial markets have hit violent ups and downs on fears that U.S. stimulus efforts may soon be scaled back.

French unemployment at new high

The number of unemployed people in France rose to a fresh high last month, official data shows.