Unemployment
AI spending spree hits $600b as Oracle fires 21,000 employees to fund boom
Oracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.
monday.com to cut 20% of global workforce, more than 600 employees to be laid off
Relocate or resign: Samsung gives hundreds of US employees an ultimatum
The labor market has not yet recovered from the war
Israel's unemployment rate continues to drop, after brief sputter
Israel's broad unemployment rate fell to 7.6% in the second half of July, the lowest rate since the beginning of the coronavirus crisis.
IES: Retraining, incentives needed to solve unemployment crisis
The Israel Employment Services said in a new report that Israel must provide occupational training programs in order to bring hundreds of thousands of unemployed people back into the workforce
Youth killed in Iran water crisis protests
Iran is facing its worst drought in 50 years, with protests breaking out in several cities and towns in the oil-rich Khuzestan province over the water crisis.
Worst violence in years spreads in South Africa as grievances boil over
The bodies of 10 people were found on Monday evening after a stampede at a Soweto shopping mall, premier David Makhura said.
Average salary drops as unemployment continues to fall
The average monthly salary fell 7%, while the broad employment rate fell from 9.9% to 9.5%.
Coronavirus in Israel: Unemployment payments to end at end of June
The announcement was expected. The economic safety net that supported hundreds of thousands of unemployed Israelis throughout the pandemic was scheduled to end June 30.
Post-COVID-19 economic challenges facing Israel's next government
ECONOMIC AFFAIRS: Here’s a look at some of the most pressing challenges facing incoming prime minister Naftali Bennett and incoming finance minister Avigdor Liberman.
Liberman: No unemployment payments for people under 45
Liberman said he will take a hardline approach to encourage more people to return to the workforce, according to N12.
A third of Israel's job seekers have been unemployed more than a year
The economic safety net plan that went into effect last year when the coronavirus pandemic started had provided job seekers with unemployment benefits through the end of June.
Israel's new unemployment plan: No benefits for under age 28
Under the new model, job seekers people will be given a maximum number of days they can receive unemployment benefits, based on their age and number of dependents.