US inflation rose 3.8% year-over-year in April, the fastest in three years, driven by higher energy prices amid the Iran war. This surge pressures the Fed to potentially hold interest rates unchanged and threatens Trump's economic approval ratings.
South Korea's farming households saw their average income reach a record 54.66 million won last year, an 8% increase driven by a significant rise in livestock earnings and gains in the farming sector. Transfer income also grew, while assets increased and debt rose slightly.
A welfare 'apprenticeship penalty' is causing disadvantaged young people to abandon valuable training opportunities, with families losing up to £340 per week in benefits when their 16-year-old enters an apprenticeship. Benefit rules classify apprentices as 'independent workers', stripping parents of child benefit and universal credit elements. The Social Security Advisory Committee warns this forces families to choose between the child's long-term career and short-term financial survival, with some young people becoming NEET as a result. There are now 957,000 NEETs in the UK – the highest level in a decade.
