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It’s been a deeply weird few weeks in the high-stakes world of artificial intelligence.First, there was Nvidia’s bizarre announcement of a $US500 billion ($700 billion) “deal” with some of the world’s biggest banks and private capital groups to fund what chief executive Jensen Huang described as “AI factory compute as an investable asset class”.Loading... Source link...

“Given the inherent volatility in the broader survey, we place emphasis on trend adjusted measures of employment and particularly the unemployment rate,” Ottley said. “On this front, trend‑employment rose by a solid 29,000 in July. The trend unemployment rate however has continued to rise, up to 4.5 per cent - the highest level since November 2021.” Although most economists had expected the unemployment rate to hold steady at 4.4 per cent, the increase was more modest at two decimal places, rising from 4.43 per cent to 4.46 per cent. The ABS also cautioned that a smaller sample size in the July survey meant “the standard errors on estimates are bigger” and fluctuations should be taken with a grain of salt. Labour market softens slowly Wages data for the June quarter, released on Wednesday, showed private sector wages grew 0.7 per cent, the slowest pace since 2021. Together, the jobs and wages data were consistent with a gradual softening in the labour market. “With the unemployment rate...

Fiji will use a AUD$140,000 (FJ$219,378.00) grant from Australia to help bring people with disabilities into aviation and tourism jobs.This was revealed by Deputy Prime Minister and Minister for Tourism and Civil Aviation Viliame Gavoka in Parliament yesterday.Mr Gavoka said the funding would support accessibility audits, training and a recruitment drive aimed at helping state-owned enterprises achieve a two per cent disability employment target by 2029."The aviation program is funded by a grant of 100,000 Australian dollars or approximately 145,000 Fijian dollars from the Australian government," Mr Gavoka said.He said the funding was administered through the Fiji Program Support Platform and required no additional funding from Fiji's national budget.Mr Gavoka said a pilot programme would bring about 50 people with disabilities into aviation and tourism roles, with half of the places reserved for women.He said 40 employees had already completed disability sensitisation training, while audits had been completed at one hotel, three tourist attractions and nine international airports.Women participationOpposition MP...

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The rapid emergence of AI anxiety has caused more than half of young Australians to reconsider their career paths.New studies from WORK180 found that 58 per cent of young Australians say that the rise of AI has influenced their career decision in the past 12 months.Young Australians have expressed a growing fear about AI in the workplace. GettyThe research also found that 62 per cent of young people are concerned about AI’s impact on employment.One survey respondent told WORK180 that it is the unpredictability of AI in the workforce is what scares them the most.“I think AI scares most people because the predictions vary so much on what job losses will look like,” they said.“Nobody really knows what to expect.” Another said that they feel like they are losing work opportunities as an artist to the hands of artificial intelligence.“People are using AI for design instead of hiring a real artist like myself, I fear I’ve chosen the wrong career path.”The...

The Australian arm of the company has reportedly sought financial support from KPMG International to remain solvent. Credit: Hamilton Productions/Shutterstock.com. KPMG Australia has commenced workforce reductions affecting both partners and staff as the accounting giant grapples with the aftermath of an ongoing audit scandal. According to a report in the Australian, “conversations” with nearly 50 partners are set to conclude on 21 August. ...

A jump in Australia’s unemployment rate could show that the economy is slowing as expected and take pressure off the Reserve Bank to raise interest rates again.Inflation is still too high and, while the economy is softening, more of a slowdown is needed to get inflation back to target, the bank’s deputy governor Andrew Hauser said on Wednesday.Jobs figures released by the Australian Bureau of Statistics on Thursday will give the bank another sense of whether its forecasts of a modest easing in the labour market are on track.Sign up to The Nightly's newsletters.Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.By continuing you agree to our Terms and Privacy Policy.“We’re not seeing in our forecasts a reduction in the number of jobs in the economy, but it’s a lot slower than Australia has known in the past and it’s a lot slower than recently,” Mr Hauser said.Economists at Westpac expect...

Unemployment rose in July to 4.5 per cent for the first time since April and caused the Australian dollar to fall in a strong sign the Reserve Bank’s rate hikes may be over.The jobless level rose from 4.4 per cent in June as 15,800 people lost their job, with unemployment back to the levels of the early months of the Iran war.This occurred as 32,200 part-time jobs were lost as 16,300 full-time jobs were gained.Sign up to The Nightly's newsletters.Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.By continuing you agree to our Terms and Privacy Policy.Since the end of COVID lockdowns in Sydney and Melbourne at the end of 2021, unemployment has only hit 4.5 per cent three times in September 2025, April this year and July, which is at the edge of full employment.The 691,500 people without a job in July was the worst since April, which in itself...

KPMG Australia has begun cutting jobs across its partnership and staff ranks as the accounting firm confronts the escalating fallout from a whistleblower scandal involving the misuse of confidential client information to win audit business. Conversations with nearly 50 partners are scheduled to conclude on August 21, according to a report in The Australian. The following week, cuts will extend to client-facing employees, with approximately 450 positions expected to be eliminated, bringing the total potential reduction to roughly 500 roles. The restructuring, internally known as Project Vector, was confirmed in an email to partners from KPMG Australia CEO John Sams on Wednesday. Sams said discussions with affected partners had commenced, while decisions on staff roles were expected imminently. He indicated that the firm was reviewing its cost base and workforce to ensure it remained sustainable and well positioned for the future, promising a further update the following week. The Australian arm has reportedly sought financial support from KPMG International to remain solvent, as...

Listen to this articleEstimated 4 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.Hundreds of young people filled a Toronto job fair on Wednesday in the hopes of snagging a summer job at the Canadian National Exhibition. The CNE says it received nearly 50,000 applications ahead of its annual job fair, which is set to take place at the Enercare Centre. That's 10 times more than the 5,000 jobs the exhibition will be hiring for, said Mark Holland, CEO of the CNE. "We know how important that first job is … it's so essential to give them that first opportunity," he told CBC Radio's Metro Morning, adding that 80 per cent of people hired for the summer exhibition are young people. "Part of our identity is making sure that we give youth that leg up and first opportunities."Given how big the job fair has...