Latest news with #MatthewMartin
Irish Independent
4 days ago
- Climate
- Irish Independent
Thundery showers today, weather to remain ‘rather unsettled' this week
A cloudy and wet start is expected today, with outbreaks of rain and a few thundery showers possible in some parts. Met Éireann forecaster Matthew Martin said: 'Well, the weather has now turned quite unsettled. That's because the low pressure in the Atlantic has now moved close to Ireland.' "That's feeding in bands of rain and showers,' he added. Meanwhile, the drier and brighter weather will extend eastwards to many areas during the day, but there will be a few showers in the mix. Parts of the southwest are likely to stay cloudy and showery for much of today, as the highest temperatures will range between 16 and 20C today. We need your consent to load this Social Media content. We use a number of different Social Media outlets to manage extra content that can set cookies on your device and collect data about your activity. Please review your details and accept them to load the content Tonight, many parts of the country will remain dry and clear, but mist and fog might develop in some areas, especially across Connacht and west Ulster. However, the rain will spread across southwestern counties towards morning while temperatures are set to drop to 9 and 12C. Tomorrow morning, the showers will continue to extend across southern and southwestern areas, with temperatures between 17 and 22C. Elsewhere can enjoy sunny spells and largely dry weather, but it will turn cloudier during the afternoon and evening as patchy rain spreads from the southwest later in the day. Tomorrow night will be mostly cloudy, with a few patches of rain or drizzle in places at first, but overall the country will see a lot of dry weather. Meanwhile, more persistent rain will arrive into the southwest and west soon after midnight and before pushing northeastwards over Ireland. It will be a humid and mild Wednesday night, with temperatures not falling below 13 and 16C. According to British folklore, if it rains on St. Swithins Day, which is today, it will rain for the rest of the year.
Arab News
09-07-2025
- Business
- Arab News
Semafor appoints Saudi Arabia bureau chief as part of regional expansion
DUBAI: Semafor has appointed Matthew Martin as its Saudi Arabia bureau chief and global head of sovereign wealth fund coverage as the news platform expands its Gulf edition. He will head the growing team in Riyadh and be a part of the wider editorial staff led by Semafor Gulf editor Mohammed Sergie. Martin, who has over two decades of journalistic experience, was most recently Bloomberg's chief correspondent for SWFs in the Middle East and North Africa region. His focus was the role of SWFs in promoting local economies, diversification, investing for a post-oil future, and projecting soft power internationally. Prior to this, he served as Bloomberg's Saudi Arabia bureau chief and was responsible for the network's coverage of Saudi Arabia, Bahrain and Yemen. He has been with Bloomberg since 2013, and moved from Dubai to Riyadh in January 2021, where his reporting focused on Saudi Arabia, particularly Aramco and the Kingdom's Public Investment Fund. 'Matt is the definitive reporter on one of the world's biggest stories, Saudi Arabia's transformation of itself and much of the world around it,' said Ben Smith, co-founder and editor-in-chief of Semafor. Martin's appointment 'marks a major step forward in Semafor's ambition to become the leading global media presence in the Gulf,' said Justin Smith, co-founder and CEO of Semafor (no relation to Ben). He added: 'We are not just covering the region but also how the ascendant Gulf story relates to the key corridors of US power and influence — Washington D.C., Wall Street and Silicon Valley — as well as the emerging ties between the Gulf and the African continent through collaborations with our Semafor Africa edition.' As Semafor continues to expand, its reporting will soon 'closely track Gulf-Asia and Gulf-EU corridors of influence as well,' Justin Smith said. Semafor Gulf launched in September 2024, marking the firm's third edition, joining its US and sub-Saharan Africa newsletters. Since then, the platform's reporting has included the UAE's plan to invest $1.4 trillion in the US, the state of foreign consulting in Saudi Arabia, OPEC+ strategy, and Gulf-Israel relations.
Mint
06-07-2025
- Business
- Mint
US college grads face muted job market, struggle to pay debt: Here's what it means for the upcoming job seekers
Recent college graduates in the United States are dealing with the toughest job landscape as unemployment among young adults is higher than it has ever been in over a decade. This unusual trend, excluding the pandemic time, is leaving students fresh out of US universities burdened with student debt, struggling to secure their first full-time job. Official data reveals that unemployment for young, recent graduates from US universities currently stands at 5.8%, which is the highest since November 2013 (excluding 15 months in the Covid pandemic). Notably, this figure remained stubbornly higher than the overall unemployment rate, which has stabilized between around 3.5 and 4% post-pandemic. The analysts call it 'an extremely unusual situation.' The labor market for new grads has weakened consistently since 2022, with new hiring down 16% in 2025, year-over-year, reported AFP. Analysts attribute this downturn to the following factors: Cyclical post-pandemic hiring slowdowns- Sectors that particularly hire a large number of new grads, like technology, finance, and business information are experiencing a slowdown. Economic Uncertainty- The "tumultuous early days' of the Trump administration contributed to overall economic uncertainty, causing firms to freeze hiring. Decline in openings for professional and business services - Job openings fell in these fields by more than 40% since 2021, with tech sector jobs disproportionately impacted. While a slower pace in hiring due to companies 'right-sizing' after previous high recruitment rates is a factor, the potential impact of AI on jobs is also being discussed. 'The sheer volume of decline also points to the impact of AI,"Matthew Martin, senior US economist at Oxford Economicstold AFP, signaling the potential of artificial intelligence technology to eliminate some entry-level roles. However Gregory Daco, chief economist at EY-Parthenon, cautions against jumping to the conclusion that AI had already begun to eliminate entry-level roles, emphasizing that most companies are still in the early stages of adopting these technologies. The U.S. is perhaps the most expensive country for a university education, with an average cost of $27,673 per year for an undergraduate degree, according to official data. In 2020, 36.3% of US undergraduates took on federal student loans, the data shows, with the Education Data Initiative putting average student loan debt for graduating students at $29,550. Even without student loan debt, however, the weakening job market can leave some recent graduates feeling like they are stretched thin. In a similar instance, 25-year old Katie Bremer, who graduated from American University with a dual-degree in Environmental Science and Public Health in 2021 could not find a full-time job in over a year. She gradually found one but not in her field and even then, she had to supplement her income by babysitting. "I felt like I was constantly working," she told AFP. Martin warned that "It's likely to get worse before it gets better". Analysts mirrored a similar outlook, saying that there is little hope on the immediate horizon as it will likely take some time for the labor market to correct itself. A part of that adjustment will likely be students picking different majors. The ongoing challenges are raising concerns among recent graduates about their long-term financial stability and ability to achieve young adult milestones, the news agency reported.
Yahoo
02-07-2025
- Business
- Yahoo
Tech job openings vanish as AI, tariffs change hiring landscape
Don't blame a job market slowdown that many economists say will start to become evident in the June 6 employment report for May solely on uncertainty surrounding President Donald Trump's tariffs. You can also point the finger at AI. AI, or artificial intelligence, is increasingly prompting technology companies to hire fewer recent college graduates and lay off more employees, according to economists and staffing firms. The rising U.S. unemployment rate the past couple of years can partly be pinned on a hiring slowdown in technology that has largely affected recent college grads seeking the kind of entry-level jobs being replaced by AI, according to a report by Oxford Economics. Trump's tariffs, which are expected to reignite inflation while dampening consumer spending, probably will intensify the hiring pullback, said Oxford senior economist Matthew Martin. 'Clearly, something is shifting,' Martin said. 'Entry-level jobs have declined markedly.' The Labor Department is expected to report U.S. employers added 125,000 jobs in May, down from an average of 181,000 the past two months, according to economists surveyed by Bloomberg. The unemployment rate is projected to hold steady at a historically low 4.2%. Job growth has slowed gradually the past couple of years as a post-pandemic burst of demand faded even while companies remain saddled with high labor costs and interest rates, squeezing their profits. Trump's tariffs are generating fresh uncertainty forecasters say will further curtail job growth in coming months. But Martin said there also should be some focus on a deeper shift in hiring patterns that has played out the past couple of years and is gathering force. From April 2022 to March 2025, the unemployment rate for recent college grads – ages 22 to 27 – shot up from 3.9% to 5.8%, while the jobless rate for all workers climbed from 3.7% to 4%, according to the Federal Reserve Bank of New York. That means unemployment for recent grads is now higher than it is for all workers, reversing a decadeslong trend. The jobless rate for all college grads – 2.7% in March – is still lower than the overall unemployment rate. But many entry-level tech jobs are disappearing, the Oxford study says. Among industries, professional, scientific and technical services has had the biggest increase in employment among recent grads over the past two decades, largely in computer services. But since 2022, IT employment among those ages 22 to 27 has declined by 8% compared with a 0.8% rise for college grads older than 27, the Oxford report suggests. Payrolls have risen 2% for college grads in all other occupations. Job openings in professional and business services, the broader sector that includes computer positions, have declined by about 1 million to 1.5 million over the past two years, Labor Department figures show. The trend is moving the needle on the job market broadly. Since mid-2023, 12% of the rise in the nation's unemployment rate from 3.6% to 4.2% can be traced to the struggles of recent college graduates, according to the Oxford analysis. Many tech companies, as well as the IT divisions of firms in various industries, are hiring about half the software developers they used to, said Kye Mitchell, head of Experis U.S., the tech hiring arm of staffing giant ManpowerGroup. Instead, AI in many cases is handling basic software development tasks while data architects and scientists, along with AI coaches, are setting up the data and teaching the AI how to manipulate it, Mitchell said. Though many developers are being retrained for these higher-level roles, the shift is leading to fewer entry-level jobs in the short term and fewer opportunities for recent graduates. The companies' wary approach toward hiring and desire to increase cost efficiency through AI has been amplified by the uncertainty spawned by the trade war, she said. 'People are cautious,' she said. 'AI is making it tougher for recent college grads.' Mitchell advised IT majors to take classes in more analytical specialties to increase their odds of landing a position. 'If you're more of a generalist, you're in trouble,' she said. Meanwhile, some large tech companies have laid off workers who performed administrative, customer service and data entry tasks, Mitchell said, replacing them with AI. In May, Microsoft announced 6,000 layoffs globally, and company CEO Satya Nadella has said about 30% of the company's code is now written by AI. Other companies, including Google and Salesforce, have announced layoffs at the same time they revealed heavy AI rollouts, according to a technology news site. Traditionally, new technology that wipes out some jobs ultimately increases productivity and growth, creating new positions that eventually offset the losses. But, Mitchell said, "people are really unsure. ... We've never been in this age" of rapid AI advances. By 2030, activities that make up as much as 30% of hours now worked in the United States could be automated − a trend accelerated by AI, according to a McKinsey GLobal Institute report. This article originally appeared on USA TODAY: AI is erasing the entry-level jobs new grads once relied on
The Irish Sun
22-06-2025
- Climate
- The Irish Sun
‘Low pressure in Atlantic will dominate' – Met Eireann warn of ‘cooler' temps and ‘unsettled' conditions in major switch
MET Eireann chiefs have warned low pressure in the Atlantic will begin to dominate Ireland's weather - as 'unsettled' conditions develop this week. There is a chance of 'heavy or thundery downpours' as temperatures plummet. Advertisement 3 More unsettled conditions are on the cards this week Credit: 3 Low pressure will dominate Credit: Getty Images - Getty Met Eireann's Matthew Martin said: 'The weather is going to turn cooler and more unsettled in the coming days as low pressure systems in the Atlantic begin to dominate Ireland's Today will bring a mix of sun and showers with some 'heavy or thundery downpours'. He said: 'It's going to be a generally cloudy start today with showery rain pushing south eastwards over the country. 'A mix of sunny spells and scattered showers will follow for many during the afternoon as the rain clears. Advertisement READ MORE IN NEWS 'But the cloud and rain will be slow to clear from the south east today. 'There is a chance of a few heavier thundery downpours in Ulster towards evening time. 'It will be less warm today with highest temperatures of 15C to 19C in moderate to fresh southwest winds.' Tonight will see 'clearer spells and scattered showers'. Advertisement Most read in Irish News Mathew said: 'The showers will become largely confined to Atlantic coastal counties overnight though. "Lowest temperatures tonight of 9C to 12C.' US Open golf SUSPENDED due to dangerous conditions as players take cover and Oakmont course starts flooding The Advertisement 'Highest temperatures tomorrow of 16 to 21 degrees. Coolest in the north and warmest in the south.' Tuesday will be a cloudy day but it will be drier. Matthew said: 'Then looking further into next week, it will be rather cloudy on Tuesday with a little patchy rain and drizzle about. But rainfall totals are going to be small. 'A few sunny spells will develop from time to time. Advertisement 'Highest temperatures will range from 15C in the north on Tuesday to 22C in the south in moderate westerly winds.' Wednesday will be warm but there will be showers across the country. He said: 'Then Wednesday looks set to be a warm and humid day with bright spells but there will be widespread showers. 'And then a spell of heavier and more persistent rain will spread from the west during the evening on Wednesday. Advertisement 'Highest temperatures on Wednesday of 17C to 22C.' Thursday will be a 'fresh day' with sunny spells and scattered showers. Temperatures will vary between 14C and 17C. 3 There's a chance of thundery downpours mid week Credit: Advertisement
