Archive for News

Jobs Report Provides Holiday Surprise

December 4, 2009 No Comments

In news that brightens the holiday season for the Obama administration, the unemployment rate dropped slightly in November, and the economy lost far fewer jobs than expected. Unemployment fell from 10.2 percent to 10 percent, the Labor Department reported today. Employers cut 11,000 jobs, the smallest loss since December 2007. In a speech today in […]

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Unemployment Jumps to 10.2 Percent in October

November 6, 2009 No Comments

The unemployment rate has reached 10.2 percent, as the economy reels from job cuts in construction, manufacturing and retail trade. The U.S. economy lost 190,000 jobs in October, pushing unemployment to the highest rate since April 1983.┬áSince the recession began in December 2007, the nation has lost 7.3 million jobs. Last month, employment fell by […]

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Report Shows Weakness in Job Market

October 2, 2009 No Comments

The government released the September jobs report today, and the news is bleak. The unemployment rate was 9.8 percent, up from 9.7 percent the previous month, according to the U.S. Labor Department. The jobless rate has reached the highest point in 26 years. Job losses also increased. Nonfarm payrolls dropped by 263,000, compared to the […]

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Employment Report Delivers Mixed News

September 4, 2009 No Comments

The latest employment figures are out, and the mixed news will add fuel to the debate over whether the job market is improving. On the negative side, the jobless rate for August reached a 26-year high. The unemployment rate hit 9.7 percent, up from 9.4 percent the previous month, the Labor Department reported today. The […]

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Unemployment Rate and Job Losses Drop

August 7, 2009 No Comments

The unemployment rate dropped slightly in July and job losses slowed, providing some welcome news for the U.S. labor market. The jobless rate fell to 9.4 percent from 9.5 percent the previous month, according to the Labor Department. Employers cut 247,000 jobs in July, compared to a revised total of 443,000 in June. Cuts occurred […]

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Unemployment Rate, Job Losses on the Rise

July 2, 2009 No Comments

Accelerating job losses pushed the U.S. unemployment rate slightly higher in June, to 9.5 percent — the highest level in 26 years. Employers cut 467,000 jobs in June, the Labor Department reported today. In comparison, the economy shed 322,000 jobs in May, according to revised figures released by the department. The June losses were spread […]

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Unemployment Climbs, but Job Cuts Slow

June 5, 2009 No Comments

The U.S. unemployment rate continued its upward climb in May, hitting 9.4 percent. It’s the highest level since August 1983. The good news is that the pace of job losses continues to ease. The economy shed 345,000 jobs last month, according to the Labor Department. In contrast, monthly losses have averaged 643,000 during the previous […]

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Jobless Rate Forecast to Rise into 2010

May 22, 2009 No Comments

Although there’s good news on the economic front, the job market will remain tough for quite some time. The economy will start growing again later this year, but unemployment likely will continue to increase into 2010, according to a forecast by the Congressional Budget Office. In testimony before the House Budget Committee this week, CBO […]

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Unemployment Rises, but Job Cuts Ease

May 8, 2009 No Comments

The tidal wave of layoffs sweeping through the United States may have crested, but it’s still inflicting damage. The unemployment rate jumped to 8.9 percent in April, as employers shed 539,000 jobs, the Labor Department reported today. It was the lowest number of job cuts in six months. “While it’s somewhat encouraging that this number […]

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Job Seekers, Be Patient

April 3, 2009 No Comments

Be prepared for more and more competition for those coveted jobs. The U.S. unemployment rate reached 8.5 percent in March, up from 8.1 percent the month earlier, the Labor Department reported today. A prominent economic forecaster is predicting the jobless rate will peak at 10 percent, either later this year or in 2010. “People have […]

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