Microeconomics

Seasonally adjusted unemployment rate in Romania rises to 5.1pct in July 2021

Seasonally adjusted unemployment rate in Romania advanced 0.1 percentage points from the previous month, to 5.1%, the National Institute of Statistics (INS) announced on Wednesday. According to INS, the male unemployment rate was 0.7 percentage points higher than the female unemployment rate.

Partial wage subsidy for furloughed workers extended into May

Ljubljana – Partial wage subsidy for furloughed workers has been extended into May. This is a measure to reduce the risk of companies deciding to lay off workers as they face a reduced demand or negative shocks in productivity related to the Covid-19 epidemic, the government has said.

Retirement provision continues to raise dust after passage

Ljubljana – The provision allowing employers to unilaterally terminate workers once they have met formal conditions for retirement, passed within the latest stimulus package in parliament on Tuesday, continues to raise dust as trade unions label it inadmissible and clear abuse of crisis legislation. Employer representatives are meanwhile welcoming it.

Retail sales volume shrinks 0.8% in June

Turkey's retail sales volume with constant prices fell 0.8% year-on-year in June, the Turkish Statistical Institute (TÜİK) announced on Aug. 14. 

"In the same month food, drinks and tobacco sales increased by 3.0%," TÜİK said.

Excluding automotive fuel, non-food sales dropped 2.8%, while automotive fuel sales slipped 0.9% over the same period.

U.S. weekly jobless claims drop below one million; labor market still weak

The expiration of a $600 weekly jobless supplement at the end of July likely contributed to the decline in claims reported by the Labor Department on Thursday. Reports from payroll scheduling and workforce management firms suggested a decline in employment in early August due to the spread of new COVID-19 cases across the United States.

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