Unemployment

New Unemployment Claims Down 324,000, Lowest In 5 years

Submitted by News Desk 2 on Thu, 05/02/2013 - 10:59

Washington, D.C. -

New jobless claims have continued to fall, now at 324,000, which is the lowest since January 2008, just before the start of the recession.

Analyst point out that claims continue to fall as the economy slowly improves, fewer employers have layoffs, and those out of work for long periods have not returned to the job market.

Unemployment is expected to remain unchanged at 7.6% as employers still remain cautious about hiring.

Florida Unemployment Drops To 7.7%

Submitted by Leo on Sat, 03/30/2013 - 09:41

For the 31st month in a row Florida’s unemployment rate dropped this time to 7.7% in February. The rate dropped from 7.9% in January as 140,000 new jobs have been created in the past twelve months. Health care, hotel, and retail were the leaders in hiring.

Observers still caution that there is still improvement to be had as some who are employed are underemployed. Those are underemployed are having to take jobs that pay significantly less than their previous jobs and struggle to pay their bills which haven’t decreased.

146,000 New Jobs Added In November, Unemployment Drops To 7.7%

Submitted by News Desk 2 on Fri, 12/07/2012 - 09:46

Washington, D.C. -

The Labor Department released figures for November showing that the private sector economy added 146,000 new jobs and the unemployment rate had dropped to 7.7%.

News of continued improvement on the jobs front has also helped the consumer confidence, which continues to see people spend more during the holiday period than last year.

New Unemployment Claims Drop 41,000 Last Week; Superstorm Sandy Kept It From Going Lower

Submitted by News Desk 2 on Wed, 11/21/2012 - 09:49

Washington, D.C. -

The U.S. Labor Department reported that new jobless claims for unemployment benefits dropped last week by 41,000 which helps make up the estimated 90,000 claim increase due to Superstorm Sandy which hit October 29.

The total number of workers seeking unemployment stood at a seasonally adjusted 410,000, which was in line with what most were expecting.

Twinkies And Ding Dong Maker Hostess Goes Bankrupt And Shutting Down

Submitted by News Desk 2 on Fri, 11/16/2012 - 10:43

While Twinkies may be able to survive a nuclear war, as the urban myth says, it can not survive a union strike. Hostess, the maker of Twinkies, Ding Dongs and other sweet treats, including Wonder Bread, has announced it is bankrupt and shutting down after making treats since 1930's.

A union strike seriously hurt Hostess who told union workers if they do not return to work by Thursday night, everyone would loose their jobs and the company would shut down.

Unemployment Spikes Up 78,000 Due To Hurricane Sandy

Submitted by News Desk 2 on Thu, 11/15/2012 - 10:06

Washington, D.C.-

The nation's unemployment rate jumped sharply due to Hurricane Superstorm Sandy, up 78,000 to a seasonally adjusted 439,000. That was well above analyst's expectations of 375,000.

States in the mid-Altantic and Northeast have reported significant new jobless claims following Sandy while the rest of the nation continued on its slow improvement.

This surge in new unemployment claims was the largest once week increase since September 2005.

Economy Adds 171,000 New Jobs In October

Submitted by News Desk 2 on Fri, 11/02/2012 - 11:40

Washington, D.C. -

THe U.S. Economy added 171,000 new jobs for the months of October and the consumer price index rose to its highest level in for years, both good signs that show Americans are ready and willing to start spending again.

The unemployment rate however, rose from 7.8 to 7.9 percent, but economist say that is actually not bad thing, that it shows people who have not been looking for work, and therefore not previously counted in the unemployment rate, are actually out looking now, believing the economy is getting better.

Dow Jones Opens Down Sharply As Retail Slows And Manufacturing Drops

Submitted by News Desk 2 on Tue, 10/23/2012 - 12:24

New York City -

The Down Jones Industrial Average, DJIA, opened this moring dropping more than 200 points in the first hours as companies report lower earnings and revise lower fourth quater earning expectations.

As of noon, the Dow was down 227.66 points at 13,118.38, or 1.71% of the total value of the stock market.

Bellweather companies like 3M reported lower earnings and DuPont said it plans to cut 1,500 jobs. Retail sales have only been modest and manufacturing was down in several sectors.

New Unemployment Claims Drop 30,000 To Lowest Level In 4 and 1/2 Years - Exports Drop

Submitted by News Desk 2 on Thu, 10/11/2012 - 08:58

Washington, D.C. -

The Labor Dept reported that new jobless claims for state unemployment has dropped another 30,000 last week to 339,000, the lowest its been since Feb 2008.

About 114,000 new jobs are estimated to have been added by private employers in September with about 3.27 million still on unemployment benefits nationwide.

Blunting the good news, the U.S. trade deficit widened to $44.2 billion in August, a 4.1% increase since July.

Exports of U.S. products are down $181.3 billion as a slowing global economy weaken demand for U.S. made goods.