Tag: unemployment rate

Texas Economy remains resilient as oil prices fall

NEW YORK (CNNMoney) — Oil prices can’t mess with Texas. Some economists warned last year that Texas could slide into a recession in 2015 as oil prices tanked. Last week, prices hit a 6-year low to $42, down from $100 a barrel a year ago. But Texas added jobs in five of the first six months this year. The state’s 4.2% unemployment rate has actually ticked down a little this year, and it’s well below the nation’s 5.3% rate, according to the Federal Reserve Bank of Dallas. The dramatic decline in oil prices would have spelled trouble for the...

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Five Thousand Protesting Peru Labor Laws

About 5,000 young people marched through the streets of Peru’s capital Lima, demanding the repeal of a newly passed labor law. The law will allow private companies to strip workers aged 18 to 24 of certain benefits such as gratuities, bonuses, life insurance, and worker’s compensation. Protesters claim the new law will benefit transnational corporations, as it reduces vacation time and wages. The international labor organization has criticized the new legislation – saying the labor sector will not diminish, which one of the principal claims made by the Peruvian government to justify the reforms. The unemployment rate among young people in Peru is just over nine...

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