unemployment

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Jobless Rate Hits 9.4%, But Layoffs Ease

(Newser) - The unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the furious pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September. If laid off workers who have given up looking for new jobs or have settled for part-time...

Dow Up 75 on Jobless Data
 Dow Up 75 on Jobless Data 
MARKETS
Jun 4, 2009 3:11 PM CDT

Dow Up 75 on Jobless Data

(Newser) - Markets edged up today on good unemployment claims and productivity data, the Wall Street Journal reports. But traders appear to be holding out for tomorrow’s employment report, and the rising price of oil continues to worry. “We have to hope it doesn't go to $80,” one trader...

Wal-Mart to Create 22K More US Jobs

But retailer has slowed expansion

(Newser) - Wal-Mart plans to add 22,000 jobs to its US stores this year, down from last year's 33,800 new jobs in the face of slowed expansion. The retailer has gained market share from recession-minded consumers, but hasn't been immune to the downturn, and recently slashed 700 jobs in its...

Stocks Up on Positive Job Data
 Stocks Up on Positive Job Data 
MARKET Open
Jun 4, 2009 8:49 AM CDT

Stocks Up on Positive Job Data

(Newser) - Stocks inched higher this morning as investors chewed on retailer and jobs data. The Dow added 17 points while the Nasdaq and S&P rose 9.03 and 3.17 points respectively. Jobless claims took a rare step in the right direction last week, with ongoing claims dropping for the...

Phoenix 'Ma Barker' Ran Crew of Boy Robbers: Cops

Mother used sons, pals in heists to pay her bills

(Newser) - An out-of-work Phoenix mother has been arrested for organizing a gang of teenage robbers, including her two young sons, reports the Arizona Republic. The woman maintains she was merely the getaway driver, but investigators say she coached her posse to jump out of her car and pistol-whip other teens to...

Stimulus Hasn't Reached States That Need It Most
Stimulus Hasn't Reached States That Need It Most
investigation
May 28, 2009 10:20 AM CDT

Stimulus Hasn't Reached States That Need It Most

(Newser) - The states President Obama’s $787 billion stimulus package was most intended to help aren’t yet getting much out of it, USA Today reports after analyzing government contracts. The eight states with unemployment rates higher than 10% have seen an average of $7.42 per person from the $4...

Wanted: Female Bloggers Not Afraid of Math
Wanted: Female Bloggers Not Afraid of Math
OPINION
May 26, 2009 5:47 PM CDT

Wanted: Female Bloggers Not Afraid of Math

Feminists focus on fluffy recession news, hurt women's cause

(Newser) - What movies do broke people watch? How do lipstick sales reflect a limping economy? A review of women's blogs shows a dangerous emphasis on "recession lite," writes Linda Hirshman for DoubleX. What women need is someone willing to do the math and go to bat against the men...

Scammers Target Panicky Job Hunters
Scammers Target
Panicky Job Hunters
May 26, 2009 2:10 AM CDT

Scammers Target Panicky Job Hunters

Experts warn work-from-home frauds are mushrooming as unemployment rises

(Newser) - Scammers are taking advantage of the recession to con people desperately seeking work out of what little cash they have left, the Atlanta Journal-Constitution reports. Watchdog groups warn that phony work-from-home offers promising quick cash in return for an initial outlay of money are proliferating, and that some fraudsters are...

44 States Shed Jobs in April
 44 States Shed Jobs in April 
May 22, 2009 3:07 PM CDT

44 States Shed Jobs in April

Job shedding continued last month

(Newser) - Instead of May flowers, April showers brought a flood of job losses, with 44 states notching declines, the Wall Street Journal reports. California led the pack with 63,700 positions cut, but its 11% unemployment rate trailed those of Michigan (12.9%), Oregon (12%), South Carolina (11.5%), and Rhode...

In First, US Jobless Rate Set to Eclipse Western Europe's

(Newser) - The unemployment rate in the US is set to eclipse that of Western Europe for the first time on record, the New York Times reports. When April numbers for the first 15 EU members come in, the US’ 8.9% will probably be higher than Europe’s, 8.5% in...

'Youth Magnet' Cities Swarming With Unemployed

(Newser) - The recession hasn’t done anything to stem the tide of young people pouring into places like Portland, Austin, and Seattle, the Wall Street Journal reports, and that’s straining those cities’ job markets. If anything, hipsters who’ve lost jobs elsewhere are more likely to set out for these...

Pfizer Offers Free Lipitor, Viagra to Jobless

70 drugs available to those who lost jobs since Jan. 1

(Newser) - Pfizer is unveiling a new program that will let people who have lost their jobs and health insurance keep taking some of its medications—including Lipitor and Viagra—for free for up to a year. The world’s biggest drugmaker will provide more than 70 of its prescription drugs free...

GOP Rep. Says Obama Wants You Unemployed

Dems chuckle at Pete Sessions' 'bizarre conspiracy theory'

(Newser) - Democrats leapt all over GOP Rep. Pete Sessions yesterday for the "bizarre conspiracy theory" the veteran Texas congressman expressed to the New York Times in an interview over the weekend. Sessions told the Times President Obama actually wanted to "diminish employment and diminish stock prices" in a "...

Iraq, Economy Stalling, May Be Broke by Next Year

Drop in oil price has gutted nation's income

(Newser) - Some people thought Iraq wouldn't be affected by the worldwide economic downturn, says an Iraqi economist. "Those people were stupid." At the very least, they were wrong: Sales of consumer goods are in the basement, along with real estate, and the unemployment rate hovers around 25%. Surpluses from...

Recession Could End in 3rd Quarter: Economists

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists...

Dow Jumps 164 in Jobs Rally
 Dow Jumps 164 in Jobs Rally 
MARKETS
May 8, 2009 3:29 PM CDT

Dow Jumps 164 in Jobs Rally

Investors find hope in stress tests and unemployment results

(Newser) - Stocks rallied today on the unemployment report and stress-test results, the Wall Street Journal reports. Though unemployment continues to grow, the slowing pace of joblessness fueled a cautious optimism. American Express and JP Morgan Chase, who “passed” the government’s test, both gained 9%. The Dow closed up 164....

Layoffs Slow as Unemployment Hits 8.9%, Worst Since '83

539K positions cut; jobless rate hits 8.9%, highest since 1983

(Newser) - The pace of layoffs slowed in April when US employers cut 539,000 jobs, the fewest in 6 months; economists had expected 620,000 job cuts. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring in a climate of...

Europe's Jobless Thrive as US Counterparts Struggle

European safety nets make joblessness easier, recovery more difficult

(Newser) - On either side of the Atlantic, different narratives are playing out among the unemployed, the Wall Street Journal reports. While Americans left jobless by the recession struggle to pay insurance and bills, Europe’s social safety nets provide many with the majority of their former incomes and cover health-care costs....

Stocks Up on Sunny Jobs Data
 Stocks Up on Sunny Jobs Data 
Market Open
May 7, 2009 8:43 AM CDT

Stocks Up on Sunny Jobs Data

(Newser) - Stocks were up again this morning, after promising unemployment numbers, the Wall Street Journal reports. The Dow rose 53 points, while the Nasdaq and S&P advanced 0.5% and 1% respectively. Wal-Mart reported a strong quarter, pulling retail stocks higher, while banks shot up ahead of stress test results....

Hiring Healthy, Even During Downturn

Dire employment figures disguise huge amount of vacancies opening up

(Newser) - Grim unemployment figures are disguising the fact that hiring has stayed surprisingly strong in the midst of the worst postwar recession, economists tell the New York Times. In February—long before any hint of recovery emerged—4.8 million workers lost their jobs, but 4.3 million people were hired,...

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