unemployment – News Stories About unemployment - Page 36

Dec 31, 2008 9:51 AM CST

Tough Times Become LinkedIn's Buddy

Business networking site sees surge in users as economy tanks

(Newser) - Bad times for American workers are boosting traffic on popular business networking site LinkedIn. The site has doubled its membership this year as worried professionals step up their networking efforts. "Every individual is a small business or brand," founder and newly reinstated CEO Reid Hoffman told USA Today....

Last '08 Session Starts Flat

MARKET open

Dec 31, 2008 9:10 AM CST

Last '08 Session Starts Flat

Nowhere to go but up?

(Newser) - Stocks started their final 2008 session with tepid optimism, sending the Dow up 28 points, and the Nasdaq and S&P up 0.3% and 0.2% respectively. Fueling the optimism was a stronger-than-expected employment report, which showed new jobless claims dropping by 94,000 last week. Keep an eye...

Consumer Confidence
Hits All-Time Low

Dec 30, 2008 10:53 AM CST

Consumer Confidence Hits All-Time Low

Economists expected a rise this month after dreary November

(Newser) - US consumer confidence hit an all-time low this month, dropping unexpectedly in the face of layoffs and deteriorating investment markets. The Consumer Confidence Index, expected to rise incrementally to 45, fell to 38 in December from a revised 44.7 last month. The Present Situation index, which measures how respondents...

Firms Shave Costs
Without Layoffs

Dec 22, 2008 9:00 AM CST

Firms Shave Costs Without Layoffs

Some workers willingly take wage cuts to save their jobs

(Newser) - Some companies are finding creative ways to cut labor, and keep it, too. Brandeis University, for example, convinced 30% of its instructors to forgo 1% of their pay. "It can save a few jobs," reasons an English prof who's hardly alone. Many workers have accepted reduced hours, unpaid...

Squeezed Parents Dump Daycare

Dec 21, 2008 2:43 PM CST

Squeezed Parents Dump Daycare

Kids often home alone, but cost 'ludicrous' if 'you can't afford rent'

(Newser) - As the tanking economy squeezes parents with skyrocketing unemployment and foreclosures, experts are noticing that it's the little children who suffer—in the form of fast-emptying daycare centers. As the Washington Post reports, strapped families desperate to cut costs are pulling their kids out of programs that can cost hundreds...

Stocks Up on Mixed Job Data

MARKET Open

Dec 18, 2008 8:46 AM CST

Stocks Up on Mixed Job Data

But FedEx is cutting payroll...

(Newser) - There was good news and bad news on the job front today. Good news: Initial claims for unemployment dropped more than expected last week. Bad news: They’re still near a 26-year high, and FedEx announced that it’s cutting salaries by 5%. But the good outweighed the bad for...

Dow Off 100 as Rate Rally Dies

MARKETS

Dec 17, 2008 3:27 PM CST

Dow Off 100 as Rate Rally Dies

Stocks fall on poor earnings, more job cuts

(Newser) - Stocks turned lower as jubilation over the Fed’s rate cut yesterday died down and concerns about the slumping economy returned today, the Wall Street Journal reports. Losses by Morgan Stanley and Goldman Sachs dragged financials lower. The Dow closed down 99.80 at 8,824.34. The Nasdaq fell...

Welfare Rolls Rising for First Time Since '90s

Dec 17, 2008 7:57 AM CST

Welfare Rolls Rising for First Time Since '90s

Tide of middle-class jobless could seriously strain program

(Newser) - Welfare numbers are rising in many states for the first time since public assistance was redefined more than a decade ago, the Washington Post reports. The numbers are still small compared to the days before welfare was retooled to steer people into jobs, but at least a dozen states say...

States Running Out of Cash for Jobless Benefits

Dec 15, 2008 8:40 AM CST

States Running Out of Cash for Jobless Benefits

Many cut taxes, weren't prepare for down turn

(Newser) - The ranks of the unemployed reached their highest levels since 1982 last week, and about 30 states are running out of money to fund them, the New York Times reports. Some states, including Indiana and Michigan, are already borrowing heavily from the federal government to keep up with jobless benefits,...

Detroit Failure Could Spark
'Economic Chaos'

ANALYSIS

Dec 13, 2008 9:17 AM CST

Detroit Failure Could Spark 'Economic Chaos'

Analysts warn that letting automakers sink will have impact across the economy

(Newser) - Letting one of the Big Three go under could have disastrous effects on many corners of the American economy, McClatchy Newspapers reports. Beyond the jobs lost at the companies and their suppliers—as well as the jobs lost everywhere those workers spend their wages—the repercussions would hit sectors as...

Jobless Claims
Hit 26-Year High

Dec 11, 2008 8:41 AM CST

Jobless Claims Hit 26-Year High

338,000 more people claimed benefits last week

(Newser) - Some 58,000 jobless Americans filed their first request for unemployment benefits last week, pushing both the number of first-time filers (573,000) and number of people collecting benefits (4.43 million) to 26-year highs, MarketWatch reports. The post-Thanksgiving week is traditionally high in first-time claims, but rapid layoffs and...

NPR Lays Off
7% of Staff,
Cuts 2 Shows

Dec 10, 2008 6:10 PM CST

NPR Lays Off 7% of Staff, Cuts 2 Shows

Corporate underwriting took big hit in recession

(Newser) - NPR will take two shows off the air and lay off 64 employees—7% of its workforce—to close an unexpected $23 million budget shortfall. Shows getting the ax are "Day to Day" and "News and Notes," both of which sought to diversify NPR's audience. The layoffs...

Sony Slashes 8,000 Jobs

Dec 9, 2008 6:25 AM CST

Sony Slashes 8,000 Jobs

(Newser) - Sony is slashing 8,000 jobs, or 4%of its global work force, aiming to cut costs by $1.1 billion a year as a global downturn and stronger yen batters profits at the Japanese electronics maker. Sony, which has 185,000 employees worldwide, said today it will complete the layoffs...

Dow Chemical to Slash
5,000 Jobs, Close 20 Plants

Dec 8, 2008 9:33 AM CST

Dow Chemical to Slash 5,000 Jobs, Close 20 Plants

Moves will save company about $700 million

(Newser) - Dow Chemical Co. will slash 5,000 full-time jobs—about 11% of its total work force—close 20 plants, and sell several businesses to rein in costs amid the recession, the company announced today. One of the largest chemical makers in the world, Dow expects the moves to save about...

30 Injured as
Greek Riots Rage On

Dec 8, 2008 3:08 AM CST

30 Injured as Greek Riots Rage On

Police see no sign of protests' end

(Newser) - More than 30 people have been injured and streets ripped apart as thousands of protesters torched buildings, smashed windows and battled Greek police in a second day of pitched rioting in downtown Athens and other cities, the Guardian reports. "I've never seen anything like this," said a store...

It's Bad: NYC Cabbie With MBA Posts Résumé in Taxi

Dec 7, 2008 10:23 AM CST

It's Bad: NYC Cabbie With MBA Posts Résumé in Taxi

La Salle grad drives taxi while awaiting dream job

(Newser) - A recent MBA grad who can’t find a job does have a captive audience: his taxi passengers. After four months of job hunting, James Williamson got his taxi license and posted his résumé in his New York City cab. There aren’t any offers yet, but the 25-year-old...

Making the Best of a Layoff

Dec 6, 2008 9:21 PM CST

Making the Best of a Layoff

Losing a job can open window for 'career makeover'

(Newser) - How to survive a layoff? With more Americans facing that question, Newsweek rounds up some advice from success stories and career counselors. The advice is of the usual sort—take a deep breath to reassess, get some training or more education, and network. But it also notes that community colleges...

US Jobs Picture
Even Worse Than It Looks

ANALYSIS

Dec 5, 2008 1:45 PM CST

US Jobs Picture Even Worse Than It Looks

6.7% unemployment figure doesn't count those not working or looking for work

(Newser) - As bad as today’s jobs report seemed, it actually soft-pedals the US employment situation, David Leonhardt writes in the New York Times. In November, 251,000 workers lost their jobs, driving the unemployment rate to 6.7%. But “unemployed” describes only individuals actively looking for work, and the...

Jobs Data Send
Stocks Tumbling

MARKET Open

Dec 5, 2008 8:54 AM CST

Jobs Data Send Stocks Tumbling

(Newser) - Stocks took a tumble at the open today, after a stunningly terrible payroll report showed that the US lost more than a half-million jobs in November, the 11th straight month of losses. The Dow fell 95 points, while the S&P and Nasdaq dropped 1% and 1.4% respectively, the...

US Lost
Half-Million
Jobs in Nov.

Economy

Dec 5, 2008 8:24 AM CST

US Lost Half-Million Jobs in Nov.

Biggest drop in 34 years

(Newser) - November saw 553,000 Americans lose their jobs, according to a Labor Department non-farm payrolls report, the steepest drop in 34 years. The number exceeded even the grimmest predictions in Bloomberg’s survey of 73 analysts. “The labor market capsized in November,” said one economist. “The financial...