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Waste pickers roam collecting waste in Durban, South Africa

Hard Numbers: South African unemployment, migrant Med deaths mount, Argentina devalues Peso, and NYC rat sightings are … down

61: A whopping 61% of South African youth aged 15-24 are unemployed, according to official figures, but analysts say the real number of unemployed youth, including those who have given up looking, is even higher. South Africa has the world’s highest unemployment rate, with 42% of the working-age population out of work.
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Protesters attend a demonstration against the French government's pension reform plan in Paris.

REUTERS/Sarah Meyssonnier

What We’re Watching: French pension strikes, Nord Stream saboteurs, a centrist battle in the US, Canadian elections vs. China

French workers vs. Macron

“Pas question!” (no way!) is what over a million striking French workers told President Emmanuel Macron on Tuesday as they tried to bring the country to a screeching halt over his controversial plan to raise the minimum retirement age from 62 to 64. In what was billed as the biggest strike to date against the pension reforms, protesters shut down schools, stopped transportation, and even blocked fuel deliveries. And they seem to have the people on their side – two-thirds of the French support their cause. But Macron has made the reform his No. 1 policy priority, seeing it as the only feasible way to ensure that the pension system stays solvent in a country with an aging population. And despite the pushback from the streets, Macron has the votes in parliament to ram through the changes. He’ll likely wait for the streets to die down a bit before he signs the reform bill – but sign it he will.

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US job growth slows for a fifth straight month, but labor market remains strong.

Reuters

What We’re Watching: US jobs report & new China, Afghan energy extraction deal

Jobs report: US labor market remains strong

The Fed’s interest rate hikes, designed to battle inflation, have slowed US job growth for a fifth straight month. The American economy added 223,000 jobs in December, well below last year's peak of 714,000 in February but still above expectations of around 200,000. The December numbers put the monthly average for 2022 at 375,000. A slowdown has been in effect since last August, but the labor market is still hot: 4.5 million jobs were created last year, the second highest since 1940. Such resilience likely means more interest rate hikes are to be expected. Meanwhile, the unemployment rate hit a historic low of 3.5%. The leisure and hospitality industry saw the biggest job gains, followed by healthcare and construction, while retail, manufacturing, transportation, and warehousing saw the least. President Joe Biden said the historic job gains are giving American families more “breathing room” amid the “cost-of-living squeeze.”

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How to support youth seeking peace
What Do Young South Africans Need? | Khadija Mayman | Global Stage | GZERO Media

How to support youth seeking peace

Youth in South Africa want to thrive — but they lack opportunities.

As a youth peacemaker for the Whitaker Peace & Development Initiative, Khadija Mayman works to educate young people on the values of peace in Cape Town. It's not an easy job with violence and unemployment rising.

Her message to those in power: Don't give us things, but you can help us.

"We are saying that we are here, we want to do the work, but we cannot do it without the necessary support and capacity," Mayman says during a Global Stage livestream conversation hosted by GZERO in partnership with Microsoft.

Watch the full Global Stage livestream conversation "The Road to 2030: Getting Global Goals Back on Track" .

What we need to know to fix US inflation
What We Need To Know To Fix US Inflation | Economist Austan Goolsbee | GZERO World

What we need to know to fix US inflation

The recipe to fixing inflation depends on whether you see it as a demand or supply problem, economist and University of Chicago professor Austan Golsbee tells Ian Bremmer on GZERO World.

If inflation is being driven by too much stimulus, as economist Larry Summers believes, then the Federal Reserve is doing the right thing by raising interest rates to cool demand, Goolsbee explains. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

US inflation is at a 40-year high and is therefore drives the perception among Americans that the economy is bad.

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Ask An Economist: How to lower inflation
Ask An Economist: How to Lower Inflation | GZERO World

Ask An Economist: How to lower inflation

US inflation is now at a 40-year high. So, what are we going to do about it?

That depends on where you think the problem is coming from, American economist and University of Chicago professor Austan Goolsbee says on GZERO World with Ian Bremmer.

If inflation is being driven by too much stimulus, like some economists such as Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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When high inflation meets high job rates
When High Inflation Meets High Job Rates | GZERO World

When high inflation meets high job rates

We live in odd economic times.

Polls show Americans now feeling so glum about the economy, yet okay about their individual finances?

Why? It's the unemployment, stupid, economist and University of Chicago professor Austan Goolsbee tells Ian Bremmer on GZERO World.

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Explaining inflation & what's next for the US economy
Explaining Inflation & What's Next For the US Economy | GZERO World with Ian Bremmer

Explaining inflation & what's next for the US economy

US inflation is now at a 40-year high. So, what can we do about it?

The Federal Reserve is trying to cool down the overheated economy by raising interest rates. But if the Fed goes too far, the rate hikes could trigger a recession that'll hit low-income Americans hardest.

On GZERO World, Ian Bremmer speaks to economist and University of Chicago professor Austan Goolsbee, who says the recipe to fixing inflation depends on whether you see it as a demand or supply problem.

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