unemployment

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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,...

Unemployment Hasn't Been This Low in 50 Years

Rate drops to 3.5% as employers add a robust 266K jobs

(Newser) - The new jobs report is out, and it's a robust one. Employers added 266,000 jobs in November, easily beating estimates of 187,000, reports CNBC . Part of the surge reflects the end of a strike at GM, but the figure still represents the strongest month since January of...

Jobless Rate Hits 5-Decade Milestone

It's at 3.5%, though employers added a modest 136K jobs

(Newser) - Steady, but a little below expectations. That's the quick assessment of the Wall Street Journal of the new jobs report out Friday. Employers added 136,000 jobs in September, under the expected 145,000, though the unemployment rate fell to a five-decade low of 3.5% per the AP...

Turns Out We Weren't Adding 200K Jobs a Month

Department of Labor revises job gains figures, with 501K fewer than previously estimated

(Newser) - It's not uncommon for the Department of Labor to revise job growth numbers. It actually does so annually, when, instead of using the surveys that help form those initial estimates, it reviews unemployment insurance records in each state to come up with more accurate figures. What is uncommon is...

Jobs Report Makes Fed's Decision Trickier

Hiring is stronger than expected, easing fears of a slowdown but complicating idea of a rate cut

(Newser) - US employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion, per the AP . Analysts expected a gain of 165,000. The strength of the jobs report the Labor Department issued Friday...

Best Place to Work? Not Google or Facebook

Bain & Company consulting comes in at No. 1 in new ranking

(Newser) - Which companies are the best to work for in America? And the worst? 24/7 Wall St has come up with rankings in both categories, using data from Glassdoor. The info comes employee reviews that take into account a host of factors, including pay, satisfaction, and job opportunities. The company with...

For Trump, It's Obviously #1. Others Predict Disaster

The economy looks great, but some see a recession coming

(Newser) - Record job growth. Historic low unemployment. Rising wages. Even the Washington Post —hardly President Trump's biggest backer—is breathless over the US economy, but some experts are wondering whether the party can last. First, the good news: Employers tacked on 263,000 new jobs in April and US...

Unemployment Is Now at a 50-Year Low

Falls to 3.6% in strong new jobs report

(Newser) - The monthly jobs report is out, and it's another strong one. Employers added 263,000 jobs in April, solidly above expectations of about 181,000, per the AP . What's more, the unemployment rate ticked down to 3.6% from 3.8% and is now the lowest it has...

Restaurant Chain Tries 'Big Thing' to Entice Workers

The Shake Shack experiments in Las Vegas

(Newser) - A burger chain is grappling with America's tight labor market by trying something new: the four-day work week, Bloomberg reports. Randy Garutti, CEO of Shake Shack Inc, says he hopes to entice workers amid the country's nearly five-decade low in unemployment. "Here in Las Vegas, in some...

Economists Expected 180K New Jobs. Not Even Close

But the unemployment rate sank to 3.8%

(Newser) - Economists had expected 180,000 new jobs in February. Not even close: Hiring tumbled as US employers added just 20,000 jobs last month, the fewest in nearly a year and a half. The Labor Department says the unemployment rate fell to 3.8% from 4%. Businesses stepped up their...

Unemployment Rate Rises, but That May Be Good News

It's up to 3.9% amid stronger-than-expected hiring

(Newser) - US employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth, and a partial shutdown of the federal government, per the AP . The figure is far higher than the...

Trump Administration May Get Its Food Stamps Wish After All

USDA proposal would tighten waiver eligibility on work requirements

(Newser) - It may soon be more difficult to get food stamps if you're jobless. The Washington Post reports the USDA has a new proposal that would tighten eligibility for food assistance from the Supplemental Nutrition Assistance Program, and it's tied to unemployment. Under the current system, most adults who...

Job Gains Fall Short of Expectations
New Job Figures Are Out
Dec 7, 2018 8:01 AM CST

New Job Figures Are Out

Hiring doesn't meet expectations, but investors seem happy

(Newser) - US employers pulled back on hiring in November, adding just 155,000 jobs. That's below this year's average monthly gains but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market, per the AP . Analysts had expected a gain...

Wages Rise at Fastest Pace in Nearly a Decade

Employers add 250K jobs, above expectations, as unemployment rate remains at 3.7%

(Newser) - The last unemployment report before the midterms is a strong one. Employers added 250,000 jobs in October, above the forecast of 188,000, reports the Wall Street Journal . The unemployment rate itself remained at a five-decade low of 3.7%, per the AP . The influx of new job-seekers in...

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