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Mixed signals in the US job market

The American economy continued to add jobs in May, but tech giants like Tesla are considering a hiring freeze and staff cuts in fear of a recession.

The American labour market added more new jobs than expected in May, with payrolls rising by 390,000. But the tech sector has started to step on the brakes in fear of a recession. Tesla's CEO Elon Musk has warned that the electric carmaker needs to cut about 10% of its staff, saying he has a "super bad feeling" about the economy. We ask Chris Low, financial analyst at FHN Financial what this means for the economy.
The head of the African Union, Macky Sall, has been in Russia to urge President Vladimir Putin to consider the people suffering from food shortages on the continent, who rely on Ukrainian and Russian cereals and fertiliser. We hear from the World Food Programme's Regional Director for Eastern Africa, Michael Dunford, and the Βι¶ΉΤΌΕΔ's correspondent in Nigeria Ishaq Khalid.
Inflation in Turkey has risen to more than 73%, the fastest rate in 24 years. The cost of everyday goods has surged because of the war in Ukraine, higher energy costs and the decreasing value of the Turkish currency: the lira. We hear more from Erinc Yeldan, a professor of Economics at Kadir Has University in Istanbul.
Memorial Day in the US this week marked the end of the official Broadway season. It was the first with in-person shows since the pandemic. We hear a special report from our US partners Marketplace.
The UK is marking the Platinum Jubilee of Queen Elizabeth II with a four day weekend. We talk to British and foreign royal fans gathered in the streets of London to celebrate.
The Queen is the head of fourteen other countries in the Commonwealth realm besides the UK. However, over the years, members like Trinidad and Tobago have preferred to become a republic instead. Are they celebrating the Queen's Platinum Jubilee? We ask Ian de Souza, CEO of the Trinidad and Tobago Chamber of Industry and Commerce.

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27 minutes

Last on

Fri 3 Jun 2022 22:32GMT

Broadcast

  • Fri 3 Jun 2022 22:32GMT