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Human Times
North America
U.S. consumer sentiment declines to a more-than three-year low

U.S. consumer sentiment has fallen to a more-than three-year low, with the government shutdown weighing on the economic outlook and high prices souring views about personal finances. The University of Michigan's preliminary November sentiment index dropped to 50.3, the lowest since June 2022, from 53.6 in October. A measure of current economic conditions slumped 6.3 points to a record low of 52.3, and fears about unemployment rose, with 71% of respondents expecting it to rise in the year ahead. “Consumers perceive pressure on their personal finances from multiple directions,” Joanne Hsu, director of the survey, said in a statement. “Consumers also anticipate that labor markets will continue to weaken in the future and expect to be personally affected.’’

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Human Times
UK
Bosses expect AI to reduce workforce

One in six employers anticipates workforce reductions due to AI over the next year, according to the Chartered Institute of Personnel and Development (CIPD). The CIPD's latest labour market outlook survey, involving over 2,000 employers, shows that 62% expect clerical, junior managerial, professional or administrative roles to be most affected. Large private sector firms are particularly concerned, with 26% expecting headcount reductions compared with 17% in the private sector overall and 20% in the public sector. Of the firms that expect to cut roles because of AI, a quarter said they were preparing to lose more than one in 10 staff. James Cockett, a senior labour market economist at the CIPD, said: "AI has great potential for improving productivity . . . but it also risks leaving many people behind."

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Human Times
Europe
UK bosses expect AI to reduce workforce

One in six UK employers anticipates workforce reductions due to AI over the next year, according to the Chartered Institute of Personnel and Development (CIPD). The CIPD's latest labour market outlook survey, involving over 2,000 employers, shows that 62% expect clerical, junior managerial, professional or administrative roles to be most affected. Large private sector firms are particularly concerned, with 26% expecting headcount reductions compared with 17% in the private sector overall and 20% in the public sector. Of the firms that expect to cut roles because of AI, a quarter said they were preparing to lose more than one in 10 staff. James Cockett, a senior labour market economist at the CIPD, said: "AI has great potential for improving productivity . . . but it also risks leaving many people behind."

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Human Times
Middle East
Israel weighs not taxing new immigrants for first two years

Israel's Finance Ministry has announced a tax reform for new immigrants and returning residents making Aliyah in 2026. They will enjoy a two-year tax exemption, after which rates will rise by 10% annually, reaching 30% by 2030 for incomes up to 1m shekels. Aliyah and Integration Minister Ofir Sofer highlighted the reform's significance in enhancing integration and economic growth, describing it as a "major and meaningful component" of national efforts to encourage Aliyah. Finance Minister Bezalel Smotrich said: "The year 2026 will bring a revolution in Aliyah." 

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