Hispanic Unemployment Lowest Ever...
Best for women since 1953...
Record jobs even for high school dropouts!
ENVY OF THE WORLD
UNEMPLOYMENT 49-YEAR LOW
WAGE HITS $27.77/HOUR
STOCK MARKET ENDLESS RALLY
TRUMP APPROVAL 50%
Showing posts with label U.S. unemployment rate. Show all posts
Showing posts with label U.S. unemployment rate. Show all posts
Friday, May 3, 2019
Drudge Report
Hispanic Unemployment Lowest Ever...
Best for women since 1953...
Record jobs even for high school dropouts!
ENVY OF THE WORLD
UNEMPLOYMENT 49-YEAR LOW
WAGE HITS $27.77/HOUR
STOCK MARKET ENDLESS RALLY
TRUMP APPROVAL 50%
Donald J. Trump Verified account
JOBS, JOBS, JOBS! “Jobs surge in April, unemployment rate falls to the lowest since 1969”
Jobs surge in April, unemployment rate falls to the lowest since 1969
The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, the Labor Department reported Friday.
Nonfarm payroll growth easily beat Wall Street expectations of 190,000 and a 3.8% jobless rate.
Average hourly earnings growth held at 3.2% over the past year, a notch below Dow Jones estimates of 3.3%. The monthly gain was 0.2%, below the expected 0.3% increase, bringing the average to $27.77. The average work week also dropped 0.1 hours to 34.4 hours.
Unemployment was last this low in December 1969 when it hit 3.5%. At a time when many economists see a tight labor market, big job growth continues as the economic expansion is just a few months away from being the longest in history.
Friday, January 1, 2010
20 million-plus collect unemployment checks in '09
http://apnews.myway.com/article/20091231/D9CUGAHG2.html
A record 20 million-plus people collected unemployment benefits at some point in 2009, a year that ended with the jobless rate at 10 percent.
As the pace of layoffs slows, the number of new applicants visiting unemployment offices has been on the decline in recent months. But limited hiring means the ranks of the long-term unemployed continues to grow, with more than 5.8 million people out of work for more than six months.
The number of new claims for jobless benefits dropped last week to 432,000, the Labor Department said Thursday, down sharply from its late March peak of 674,000. The decline signals that the economy could begin adding a small number of jobs in January, several economists said.
Still, hiring is unlikely to be strong enough to quickly bring down the unemployment rate, which fell from 10.2 percent in October to 10 percent in November. December's rate will be announced Jan. 8.
Companies will remain cautious about adding staff until they are confident the economic recovery is sustainable - something they remain unsure about as consumers and businesses keep a lid on spending, and as the government begins to wind down various stimulus programs.
The Federal Reserve and private economists expect joblessness to stay above 9 percent through the end of 2010.
The slow pace of hiring will force Congress and the Obama administration in 2010 to spend as much as $70 billion to extend jobless aid for the long-term unemployed, or else let benefits - which were extended several times in 2009 - expire for millions of people.
A record 20 million-plus people collected unemployment benefits at some point in 2009, a year that ended with the jobless rate at 10 percent.
As the pace of layoffs slows, the number of new applicants visiting unemployment offices has been on the decline in recent months. But limited hiring means the ranks of the long-term unemployed continues to grow, with more than 5.8 million people out of work for more than six months.
The number of new claims for jobless benefits dropped last week to 432,000, the Labor Department said Thursday, down sharply from its late March peak of 674,000. The decline signals that the economy could begin adding a small number of jobs in January, several economists said.
Still, hiring is unlikely to be strong enough to quickly bring down the unemployment rate, which fell from 10.2 percent in October to 10 percent in November. December's rate will be announced Jan. 8.
Companies will remain cautious about adding staff until they are confident the economic recovery is sustainable - something they remain unsure about as consumers and businesses keep a lid on spending, and as the government begins to wind down various stimulus programs.
The Federal Reserve and private economists expect joblessness to stay above 9 percent through the end of 2010.
The slow pace of hiring will force Congress and the Obama administration in 2010 to spend as much as $70 billion to extend jobless aid for the long-term unemployed, or else let benefits - which were extended several times in 2009 - expire for millions of people.
Monday, December 7, 2009
Economy 101: Long-Term Unemployment Worsens
http://www.nytimes.com/aponline/2009/12/04/us/AP-US-Economy-101-Unemployment-by-the-Numbers.html?_r=2
Within the vast pool of 15.4 million unemployed workers, a split is emerging: The number of long-term jobless -- those out of work six months or longer -- is growing, while the number of short-term unemployed is declining.
The trend highlights a considerable challenge for the economy and policymakers: finding a way for the millions of Americans laid off last fall and early this year to get back to work.
The data, buried in Friday's unemployment report, are stark: The number of Americans out of work for 27 weeks or more reached 5.9 million last month, the most on records dating from 1948. That's 18 percent more than just three months ago, when the total was just below 5 million.
The tally of those out of work for 14 weeks or less, however, has dropped to 6.3 million from 7.1 million in August, a decline of about 11 percent.
Looking at it another way, the long-term jobless now make up 38.3 percent of the unemployed population, not that far from the 41.1 percent accounted for by those out of work for 14 weeks or less. (The rest are in the 15-to-26 weeks bracket.)
That's a sharp change from August, when the short-term unemployed made up nearly half the total, while the longer-term jobless were only a third.
In some ways, the dichotomy is good news, in that it reflects a slowdown in layoffs. The Labor Department said Friday that employers cut a net total of 11,000 jobs in November, down from 111,000 the previous month. The unemployment rate dropped
Within the vast pool of 15.4 million unemployed workers, a split is emerging: The number of long-term jobless -- those out of work six months or longer -- is growing, while the number of short-term unemployed is declining.
The trend highlights a considerable challenge for the economy and policymakers: finding a way for the millions of Americans laid off last fall and early this year to get back to work.
The data, buried in Friday's unemployment report, are stark: The number of Americans out of work for 27 weeks or more reached 5.9 million last month, the most on records dating from 1948. That's 18 percent more than just three months ago, when the total was just below 5 million.
The tally of those out of work for 14 weeks or less, however, has dropped to 6.3 million from 7.1 million in August, a decline of about 11 percent.
Looking at it another way, the long-term jobless now make up 38.3 percent of the unemployed population, not that far from the 41.1 percent accounted for by those out of work for 14 weeks or less. (The rest are in the 15-to-26 weeks bracket.)
That's a sharp change from August, when the short-term unemployed made up nearly half the total, while the longer-term jobless were only a third.
In some ways, the dichotomy is good news, in that it reflects a slowdown in layoffs. The Labor Department said Friday that employers cut a net total of 11,000 jobs in November, down from 111,000 the previous month. The unemployment rate dropped
Monday, October 12, 2009
10,000 apply for 90 factory jobs
http://www.courier-journal.com/article/20091008/NEWS01/910080326/1003/BUSINESS/10+000+apply+for+90+factory+jobs
In the latest sign of weakness in Louisville-area employment, about 10,000 people applied over three days for 90 jobs building washing machines at General Electric for about $27,000 per year and hefty benefits.
The jobs dangle medical, eye care, prescription and dental benefit packages, as well as pension, disability, tuition assistance and more, said GE spokeswoman Kim Freeman. And despite the recession, no union workers have been laid off from Appliance Park since the company negotiated lower wages with workers in 2005.
“There are no jobs out there paying these kinds of wages that also offer these kind of benefits,” said Jerry Carney, president of IUE-CWA Local 761 at Appliance Park.
Just four years ago, the same jobs paid $19 per hour. But that was before Local 761 approved wage cuts for new workers aimed at preventing the closure of Appliance Park.
“People still value these jobs,” Freeman said
In the latest sign of weakness in Louisville-area employment, about 10,000 people applied over three days for 90 jobs building washing machines at General Electric for about $27,000 per year and hefty benefits.
The jobs dangle medical, eye care, prescription and dental benefit packages, as well as pension, disability, tuition assistance and more, said GE spokeswoman Kim Freeman. And despite the recession, no union workers have been laid off from Appliance Park since the company negotiated lower wages with workers in 2005.
“There are no jobs out there paying these kinds of wages that also offer these kind of benefits,” said Jerry Carney, president of IUE-CWA Local 761 at Appliance Park.
Just four years ago, the same jobs paid $19 per hour. But that was before Local 761 approved wage cuts for new workers aimed at preventing the closure of Appliance Park.
“People still value these jobs,” Freeman said
Sunday, August 2, 2009
Geithner Says Unemployment May Peak in Second Half of 2010
http://www.bloomberg.com/apps/news?p...d=aFgRG8QbeKNY
The U.S. unemployment rate may not peak until the second half of 2010, possibly necessitating another extension in unemployment benefits, U.S. Treasury Secretary Timothy Geithner said.
“I think that is something that the administration and Congress are going to look very carefully at as we get closer to the end of this year,” Geithner said in an interview today on ABC’s “This Week” program.
The U.S. economy contracted at a better-than-forecast 1 percent annual pace in the second quarter, the Commerce
The U.S. unemployment rate may not peak until the second half of 2010, possibly necessitating another extension in unemployment benefits, U.S. Treasury Secretary Timothy Geithner said.
“I think that is something that the administration and Congress are going to look very carefully at as we get closer to the end of this year,” Geithner said in an interview today on ABC’s “This Week” program.
The U.S. economy contracted at a better-than-forecast 1 percent annual pace in the second quarter, the Commerce
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