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Tunisia: president appoints new government 11 weeks after power grab

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TunisiaTunisia: president appoints new government 11 weeks after power grabKais Saied will technically head administration after paring back powers of PM’s office A …

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Nobel economics prize jointly awarded to labour market expert David Card

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Nobel economics prizeNobel economics prize jointly awarded to labour market expert David CardCanadian-born academic wins prize with Joshua Angrist and Guido Imbens Larry ElliottMon 11 Oct 2021 08.59 EDTFirst published on Mon 11 Oct 2021 08.57 EDTA labour market expert whose work influenced the introduction of the UK’s minimum wage has been named as a joint winner of the Nobel economics prize.David Card, a Canadian-born economist, was one of three US-based academics given the prestigious award for their work on whether economic theory is supported by real-life situations.The trio – Card, Joshua Angrist, an American, and Guido Imbens, from the Netherlands – were cited for their work on natural experiments, which is said to have revolutionised empirical research.UK’s supply chain crisis hits confidence; Nobel prize in economics awarded – business liveRead moreCard, who received half the 10m Swedish kronor (£838,000) prize fund, made his name with a paper that studied whether an increase in New Jersey’s minimum wage from $4.25 to $5.25 an hour in 1992 cost jobs in the fast-food industry.Contrary to previous research, Card and his fellow economist Alan Krueger found that employment in New Jersey restaurants increased after the minimum wage was raised.The widely cited paper was seized on by Gordon Brown and his then economics adviser Ed Balls to justify their plans for a UK national minimum wage, which was introduced in 1999. Although there is now cross-party support for …

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The big idea: should we work less?

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The big ideaBooksThe big idea: should we work less? A shorter working week could benefit society, the environment – even the economy. Is it time to reassess our relationship with our jobs? Sarah JaffeMon 11 Oct 2021 03.00 EDTLast modified on Mon 11 Oct 2021 03.48 EDTFor the last year and a half, most people have fallen into one of three categories: the unemployed, whose jobs disappeared during lockdown; the work from home brigade, who balanced family responsibilities or solo strain with a workday that extended even longer sans commute; and those who were still going to work but under hazardous, sometimes terrifying conditions, whether in healthcare or grocery stores or meatpacking plants. In so many of these cases, much of what made work enjoyable or at least tolerable was stripped away, and we were left with the unpleasant reality of what our jobs actually were: not a fun pastime, but something we have to do. As Amelia Horgan notes in her book Lost in Work, “We, almost always, need a job more than a job needs us. Our entrance into work is unfree, and while we’re there, our time is not our own.”Yet for all its misery, Covid-19 did show us that it was possible to radically change the way we live and work, and to do it quickly. And it’s worth remembering that working life pre-pandemic wasn’t exactly sunshine and rainbows for many people – a UK poll early …

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Why it’s high time to move on from ‘just-in-time’ supply chains | Kim Moody

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OpinionSupply chain crisisWhy it’s high time to move on from ‘just-in-time’ supply chains K …

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Donald Trump’s own treasury secretary blocked Ivanka World Bank role – report

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Ivanka TrumpDonald Trump’s own treasury secretary blocked Ivanka World Bank role – reportSteven Mnuchin said to have stopped move likely to have upset world leaders, which ‘came incredibly close to happening’ Martin Pengelly in New York@ …

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US wages are going up, and those who don’t adapt to the new reality will fail | Gene Marks

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US small businessUS wages are going up, and those who don’t adapt to the new reality will failLabor is in short supply, so it’s more expensive. It’s simple economics and hankering for pre-pandemic times won’t help Gene Marks@ …

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What the US unemployment rate doesn’t tell you

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US unemployment and employment dataWhat the US unemployment rate doesn’t tell youThe true measure of unemployment depends on who you ask Rashida KamalSun 10 Oct 2021 06.00 EDTLast modified on Sun 10 Oct 2021 06.03 EDTJust how healthy is the US jobs market? On Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report, showing that the US added a disappointing 194,000 jobs last month while announcing that the official unemployment rate fell to 4.8%, the lowest it’s been since its frightening climb to 14.7% when the Covid-19 pandemic first struck the US.The figures seem somehow disconnected and, for some, September’s headline figure is woefully misleading, as it is every month. What if the “true” unemployment rate is actually closer to 22%?Overall unemployment rateWhile most reporting (including our own) tends to focus on the BLS’s monthly headline figure – referred to as the “U-3” – the true measure of unemployment depends on who you ask. Some experts argue the official headline figure hides a far darker picture of the state of the labor market.First, it is important to unpack what this commonly cited statistic does and does not tell us.The headline unemployment rate measures the proportion of the American civilian labor force – anyone over the age of 16 – that does not have a job and is still actively looking for work. It does not include the large number of people who have given up …

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‘Welcome to the party’: five past tech whistleblowers on the pitfalls of speaking out

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Technology‘Welcome to the party’: five past tech whistleblowers on the pitfalls of speaking outFrances Haugen, the Facebook whistleblower, joined a growing list of Silicon Valley former employees to call out company policies Johana BhuiyanSat 9 Oct 2021 01.00 EDTWhen Frances Haugen revealed she was the Facebook whistleblower who supplied internal documents to Congress and the Wall Street Journal, she joined a growing list of current and former Silicon Valley employees who’ve come forward to call out military contracts, racism, sexism, contributions to climate crisis, pay disparities and more in the industry.California companies can no longer silence workers in victory for tech activistsRead moreIn the past days, the Guardian spoke with five former employees of Amazon, Google, and Pinterest who’ve spoken out about their companies’ policies. The conversations revealed Haugen’s experience has been singular in some respects. Few of them received the international praise bestowed upon her. Some of them said they have faced termination, retaliation, harassment and prolonged litigation.But Haugen is entering a community of whistleblowers that appears tighter than ever, with some working to make it easier for the employees to come forward, through legislation, solidarity funds, and resources.“Welcome to the party, Frances Haugen,” one tweeted.Chelsey GlassonChelsey Glasson left Google in August 2019, alleging pregnancy discrimination and retaliation. She filed a discrimination lawsuit against the company the following year, and her trial is scheduled for 10 January. Years of litigation against a multibillion …

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US adds 194,000 September jobs in another month of disappointing growth

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US economyUS adds 194,000 September jobs in another month of disappointing growthDelta variant and tight labor market holding back hiringEconomists had expected about 500,000 new jobs Dominic Rushe@ …

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Australia Federal court rules insurers don’t have to pay $1bn in Covid claims from businesses

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Insurance industryFederal court rules insurers don’t have to pay out more than $1bn in Covid claims from businessesJudge finds insurance firms don’t have to grant claims under clauses that relate to the government closing business premises due to a disease outbreak Get our free news app; get our morning email briefing Ben ButlerFri 8 Oct 2021 05.20 EDTLast modified on Fri 8 Oct 2021 06.08 EDTInsurance companies have won a series of test cases in a federal court battle over whether they have to pay out claims, estimated to exceed $1bn, over interruptions to business as a result of the coronavirus pandemic.Federal court judge Justice Jayne Jagot ruled the insurance companies should not have to pay claims made under clauses that relate to the government closing business premises due to an outbreak of disease at or nearby the premises, damage for an outbreak at the premises itself and damage due to restriction of access to premises because of a catastrophe.Jagot said that other than in one of the test cases – a travel agency in Melbourne, where there was an outbreak of Covid – “I have concluded that these insuring clauses do not apply in the circumstances of each case.”Mice, floods and the climate crisis: why your insurance won’t cover society-wide catastrophes | Richard DennissRead moreShe said in nine cases before the court the actions of health authorities in closing down …

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