unemployment

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Jobless Claims Add to Jarring New Normal

Nearly 3M more file for claims, bringing total to 36M in 2 months

(Newser) - The bleak number keeps growing: Nearly 3 million laid-off workers applied for US unemployment benefits last week, per the AP . That means roughly 36 million people have now filed for jobless aid in the two months since the coronavirus forced millions of businesses to close their doors and shrink their...

This Time, Women Are Hit Harder by Job Losses

Pandemic has erased the gains of the past decade

(Newser) - American women reached a milestone in December, holding just over 50% of the nation's payroll jobs. "It’s a milestone because it’s really heralding the future and not just telling us where we are today," a professor said when the figures were released in January, the...

Trump's Top Economic Advisers Warn Things Will Get Worse

Unemployment rate could end up higher than 20% by next month, one predicts

(Newser) - The US economy is in rough shape, and things are going to get worse. That was the dire prediction from not one but two of the White House's top economic advisers Sunday, per the Washington Post :
  • "The reported numbers are probably going to get worse before they get
...

Unemployment Rate Officially Worst Since Great Depression

Rises to 14.7% in April

(Newser) - Everyone knew the numbers were going to be bad —and the numbers are bad. The unemployment report released Friday morning shows that 20.5 million Americans lost their jobs in April as the pandemic shutdown took full effect, reports the AP . The figure is staggering but actually a bit...

The Jobs Report Is Coming. It&#39;s Going to Be Grim
'And Now, It's Gone':
What the Jobs Report Will Hold
the rundown
May 8, 2020 12:45 AM CDT

'And Now, It's Gone': What the Jobs Report Will Hold

US is expected to have wiped out a decade's worth of jobs

(Newser) - The monthly jobs report is out at 8:30am ET Friday, when we'll find out just how grim the April employment numbers are. The March report was "shocking," without even showing the true brunt of the coronavirus pandemic's impact since the relevant surveys end mid-month. Media...

Millions More Join the Ranks of the Unemployed

20% of US workers have filed for unemployment aid

(Newser) - Another 3.2 million Americans filed for unemployment benefits last week, bringing the total over seven weeks to 33.5 million—or one in five Americans who were employed as of February, per the AP . Economists had predicted 3 million claims, Reuters reports. The week ending May 2 was the...

Kevin Spacey Compares Your Pain to His Pain

The actor compares his banishment to the pandemic lockdown

(Newser) - Kevin Spacey is back in the news for the first time in months—this time for comparing his professional exile to the lockdown triggered by the coronavirus pandemic, Mediaite reports. "I don't often like to tell people that I can relate to their situation because I think it...

Las Vegas Is Reeling
Las Vegas Is Reeling
IN CASE YOU MISSED IT
May 2, 2020 4:00 PM CDT

Las Vegas Is Reeling

Job losses unprecedented in a city built on hospitality and tourism

(Newser) - New York City may be the epicenter of the coronavirus outbreak in terms of illnesses, but when it comes to job losses, the New York Times declares Las Vegas to be "ground zero." The broad strokes are simple enough: About a third of the local economy is tied...

California No Longer Leads in Unemployment Claims

Florida has the unwanted distinction

(Newser) - More people—432,465—filed for unemployment benefits last week in Florida than in any other state. California, which reported 328,042 new filings, had led the nation for four weeks, CNBC reports. They're among the more than 3.8 million people who applied for unemployment benefits nationally last...

1 in 6 American Workers Seeking Unemployment Aid

Another 3.8M join the ranks

(Newser) - More than 3.8 million laid-off workers applied for unemployment benefits last week as the US economy slid further into a crisis that is becoming the most devastating since the 1930s, per the AP . Roughly 30.3 million people have now filed for jobless aid in the six weeks since...

Tupac Shakur Files for Unemployment, Confusion Ensues

Gov. Andy Beshear thought Lexington resident's unemployment application was a prank

(Newser) - It’s no joke—Tupac Shakur lives in Kentucky and needs unemployment benefits to pay his bills. The Lexington man’s name was brought up by Gov. Andy Beshear on Monday night as he spoke about how the state is trying to process all unemployment claims filed in March amid...

It's by Far the Worst String of Layoffs on Record

4.4M more file for unemployment benefits, bringing total to 26M over 5 weeks

(Newser) - More than 4.4 million laid-off workers applied for US unemployment benefits last week as job cuts escalated across an economy that remains all but shut down. Roughly 26 million people have now filed for jobless aid in the five weeks since the coronavirus outbreak began forcing millions of employers...

With Millions More Laid Off, a Dire Prediction From Economists

After 5.2M more file for unemployment, unemployment rate could hit 20% in April

(Newser) - The wave of layoffs that has engulfed the US economy since the coronavirus struck forced 5.2 million more people to seek unemployment benefits last week. Roughly 22 million have sought jobless benefits in the past month—easily the worst stretch of US job losses on record. All told, nearly...

Jobless Claims Swell by Another 6.6M

About 10% of the workforce is now unemployed

(Newser) - With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: Roughly one in 10 workers have lost their jobs in just the past three weeks, per the AP . The figures collectively constitute the largest and fastest string of job losses...

Jobless Report Is Out: 'There's No Comparison to This Shock'

March's report only scratches the surface of damage

(Newser) - For the last 113 straight months, the first Friday of each month came with a question: How many new jobs were created over the previous 30 days? No more, thanks to the coronavirus. The epic streak came to an abrupt end with Friday's unemployment report for March, which shows...

Grim Numbers Expected in Today's Jobs Report

And there is much worse to come, analysts say

(Newser) - After a record 113 straight months of hiring, the government's monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result of the coronavirus. Economists have forecast that the government will say employers shed about 150,000...

Stunning Report: 6.6M Applied for Unemployment Last Week

That doubles the record set a week earlier

(Newser) - More than 6.6 million Americans applied for unemployment benefits last week, doubling a record high set just one week earlier—a sign that layoffs are accelerating in the midst of the coronavirus. The stunning report Thursday from the Labor Department showed that job cuts are mounting: The figure for...

Jobless Claims Clock in at Quadruple the 1982 Record

At nearly 3.3M

(Newser) - Nearly 3.3 million Americans applied for unemployment benefits last week—more than quadruple the previous record set in 1982—amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral outbreak is doing to the economy. Filings...

Strong Jobs Report Comes With a Dose of Caution

Employers add 273K jobs, but numbers came before worst of coronavirus news

(Newser) - The latest jobs report is in, and it's a strong one. Employers added 273,000 jobs in February, well above expectations of 175,000, reports the Wall Street Journal . The unemployment rate ticked down from 3.6% to a 50-year low of 3.5%, notes the AP . Both stories,...

A 'Sour Note' on Jobs, but Still a 10-Year Milestone

Hiring slows in December, though US now has seen 10 straight years of job gains

(Newser) - The last jobs report of 2019 and the decade came in shy of expectations. Employers added 145,000 jobs in December, lower than the expected 160,000 and enough to qualify as a "sour note," reports CNBC . Still, the figure caps the 10th straight year of payroll gains,...

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