FT News Briefing America’s hiring headache
May 25, 2022
Global political shifts are on the rise, with Hungary declaring a state of economic emergency and Australia welcoming a new Labor prime minister. Meanwhile, Atlanta's restaurant owners are creatively tackling a tight labor market, revealing innovative hiring practices. However, the economic landscape remains challenging, as high inflation outpaces wage gains, putting pressure on workers. Insights into Amazon's impending meeting also highlight shareholder anxieties about transparency and executive pay.
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State of Emergency in Hungary
- Hungary's Prime Minister Viktor Orban declared a state of emergency, enabling rule by decree.
- This move is framed as a response to the economic crisis caused by the war in Ukraine and Western sanctions.
Australia's New Prime Minister
- Australia elected Anthony Albanese, its first Labour prime minister in nearly a decade.
- Albanese campaigned on stronger climate action without being too radical.
Australia's Balancing Act with China and the US
- Albanese faces the challenge of balancing Australia's relationship with China, its largest trading partner, and its alliance with the US.
- Australia is likely to continue a tough stance on China, despite potential economic implications.