unemployment

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New Jobless Numbers Going in Wrong Direction

Nearly 900K applied for benefits last week

(Newser) - New unemployment data came out Thursday morning, and the numbers are not sitting well with Wall Street investors. The Labor Department says 898,000 people applied for jobless benefits last week, exceeding estimates by about 70,000, reports CNBC . The figure is up more than 50,000 from the previous...

The Final Jobs Report Before the Election Is Out

Unemployment rate falls to 7.9%

(Newser) - The Labor Department released the final jobs report we'll have before the November election, and it was a mixed bag. The jobless rate fell further than expected, to 7.9% in September from 8.4% in August. But while the Wall Street Journal reports economists had expected about 800,...

6 Months In, Businesses Still Getting Squeezed

Jobless claims ticked up last week

(Newser) - The number of people seeking US unemployment aid rose slightly last week to 870,000, showing that the viral pandemic is still squeezing businesses six months after it first erupted. The figure coincides with evidence that some newly laid-off Americans are facing delays in receiving unemployment benefits as state agencies...

Unemployment Falls Under a Key Threshold

It's below 10% for first time since pandemic began

(Newser) - Companies are still hiring, just not as fast as they were. The Labor Department reported Friday that employers added 1.4 million jobs in August, down from about 1.8 million in July, per CNBC . But the overall unemployment rate dropped from 10.2% to 8.4%, marking the first...

Jobless Claims Remain Above a Big Threshold

Once again, more than 1 million apply for benefits in the last week

(Newser) - Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales, and other segments of the economy rebound from a springtime collapse, per the AP . The Labor Department reported Thursday that the number...

Jobless Claims Milestone Is Short-Lived

Number of people seeking benefits rises back above 1M for the week

(Newser) - The number of laid-off workers seeking US unemployment benefits rose to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the economy, per the AP . The latest figures, released Thursday by the Labor Department, suggest that more...

A Welcome Milestone on Jobless Claims

New claims drop below 1M for first time since March

(Newser) - Layoffs continue five months into the pandemic, but there is a silver lining. Unemployment claims dropped below 1 million last week for the first time since March. There were 963,000 new filings for state unemployment benefits in the week ending Aug. 8—a drop of 228,000 claims from...

Trump Ditches Congress, Signs 4 Executive Orders
'We've Had It': Trump
Signs 4 Executive Orders
updated
Aug 8, 2020 3:30 PM CDT

'We've Had It': Trump Signs 4 Executive Orders

The president defers payroll taxes and extends unemployment benefits at a reduction

(Newser) - President Trump on Saturday bypassed the nation's lawmakers as he claimed the authority to defer payroll taxes and replace an expired unemployment benefit with a lower amount after negotiations with Congress on a new coronavirus rescue package collapsed, per the AP . Trump's orders encroached on Congress' control of...

Jobs Recovery Cools as Virus Cases Increase

Unemployment rate drops from 11.1% to 10.2%

(Newser) - The jobs recovery is continuing, just not as fast as in previous months. Employers added 1.8 million jobs in July, which in normal times would be a staggering number. But as the AP notes, it's down from 4.8 million in June and 2.7 million in May...

Take Your Guess on Average Age of US Car

It's 12 years, and it may get even older because of the pandemic

(Newser) - The average age of vehicles on US roads has been climbing since the 2008 recession. With new-vehicle sales suppressed by the pandemic, that trend is not slowing, Car and Driver reports. The average age of a car in use now is 11.9 years, IHS Markit found, a one-month increase...

Senate Fails to Extend Unemployment Benefits That Expire Friday

The extra $600 per week is set to expire

(Newser) - With aid expiring, the White House offered a short-term extension Thursday of a $600 weekly unemployment benefit that has helped keep families and the economy afloat during the COVID-19 pandemic, but Democrats rejected it, saying President Trump’s team failed to grasp the severity of the crisis. Democratic leaders panned...

Jobless Claims End a 4-Month Streak
Jobless Claims End
a 4-Month Streak
Jul 23, 2020 8:33 AM CDT

Jobless Claims End a 4-Month Streak

They rise for the first time since March

(Newser) - The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy, per the AP . The rise in weekly jobless claims to 1.4 million underscores the outsize...

Jobless Claims Continue a Historic 16-Week Streak

Numbers dip, but they remain above 1M

(Newser) - New unemployment claims are out, and they're a smidge better than expected, reports CNBC . As in, 1.31 million people applied for jobless benefits last week, compared with the expected figure of 1.39 million. The AP has some coronavirus context: This marks the 16th straight week the figure...

Sweden 'Literally Gained Nothing' With COVID Approach

The country's economy wasn't shielded, but its top epidemiologist says time will tell

(Newser) - Much has been made about Sweden's rejection of a lockdown and the high death rate that ensued. Per Reuters , the country had logged 5,447 deaths as of Tuesday, out of a population of 10 million—meaning its death rate is well above that of the US and its...

Hiring Is Stronger Than Expected in June

Unemployment dips to 11.1%, but this was before new round of shutdowns

(Newser) - US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring, per the AP . The nation has now...

Jobless Claims Continue an 11-Week Streak

1.5M apply for benefits, but that's another decline from the previous week

(Newser) - About 1.5 million laid-off workers applied for US unemployment benefits last week, a historically high number, even as the economy increasingly reopens and employers bring some people back to work. The Labor Department's largest figure marked the 11th straight weekly decline in applications since they peaked at nearly...

With Jobless Numbers, 'Recovery Appears to Be Underway'

But debate continues between GOP, Dems on whether to extend unemployment stimulus relief

(Newser) - America has started its economic recovery process, reopening businesses in phases across the nation, and the labor market numbers are beginning to reflect that. Per a Thursday release from the Department of Labor, the number of people drawing unemployment benefits for the week ending May 30 fell to 20.9...

Biden Rips Trump for Calling It a 'Great Day' for George Floyd

President had cited police victim in celebrating drop in unemployment

(Newser) - Invoking the name of a black man killed by white police officers, who's become a symbol of police brutality and racial injustice, in celebrating an economic report didn't go over well with Joe Biden. President Trump had cited George Floyd earlier in the day Friday at the White...

Trump Points to Jobs Report as Cure for Race Issues
Trump: It's a 'Great Day'
for George Floyd
the rundown
Jun 5, 2020 12:12 PM CDT

Trump: It's a 'Great Day' for George Floyd

President celebrates the jobs numbers, speaks of need for 'fair treatment' from police

(Newser) - "Victory lap." That's the term used by the AP and CNN to describe President Trump's reaction to Friday's surprisingly strong jobs report . "This shows that what we've been doing is right," Trump said in the Rose Garden, referring to the White House...

It's a Stunner: Eye-Popping Number of Jobs Added

Rate falls to 13.3% as 2.5M jobs are gained

(Newser) - Heading into the release of Friday's jobs report, economists expected millions more job losses and an unemployment rate at or even above 20%, per the AP . Not even close. Employers actually added 2.5 million jobs in the month, and the unemployment rate dropped from 14.7% to 13....

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