World
US initial jobless claims tumbles to 42-year low
Washington: The number of Americans initially applying for unemployment aid tumbled last week to the lowest level in 42 years, the latest sign of a strengthening job market, the US Labour Department said.
In the week ending July 18, the advance figure of seasonally adjusted initial claims for jobless benefits fell by 26,000 to 255,000, the lowest level since November 1973, as per reported.
But economists are sceptical of such a large drop, saying jobless claims in July tend to be volatile due to temporary layoffs and rehiring in the auto industry.
The four-week moving average for new claims, a more reliable measure of the underlying trend of labour market conditions, edged down by 4,000 to 278,500 last week.
Weekly jobless claims have been below the key 300,000 mark since March and coincided with strong job growth at the same period, indicating sustainable and solid improvement in the laboUr market.
Last month, the US economy added 223,000 jobs and the unemployment rate fell to a seven-year low of 5.3 percent.
Stanley Fischer, vice chairman of the Federal Reserve, said that the US economy is now close to full employment, and there are grounds for optimism that economic growth will be sufficient to promote further gains in labour market conditions.
The latest upbeat labour market figures might boost Fed officials’ confidence to start raising interest rates later this year. The central bank has kept benchmark short-term interest rates near zero since December 2008.
Fed Chair Janet Yellen told lawmakers last week that it becomes appropriate to raise interest rates before year end as the US labour market is getting closer to a “more normal state” and headwinds that are holding the economy are diminishing.
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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