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NEWS ABOUT: jobless claims

Unemployment Now Lasts Longer Than Benefits

(Newser) - A rough milestone on the jobless front: The average length of time it takes to find a job—26.2 weeks—now exceeds the standard length of unemployment benefits—26 weeks. That's first time it's happened since the Labor Department began keeping stats 60 years ago, reports Bloomberg. The bit... More »

Unemployment Hits 9.8%

Employers cut 263,000 jobs, more than expected

(Newser) - More evidence that jobs are bringing up the rear in the economic turnaround: Employers shed 263,000 jobs in September, more than August and far more than expected, raising the unemployment rate to 9.8%. Most of the job losses came in fields such as retail, construction, and manufacturing, notes... More »

Job Losses Slow, Unemployment Dips to 9.4%

(Newser) - Job losses slowed more than expected last month, and unemployment fell from 9.5% to 9.4% in its first dip since April 2008, the Labor Department announced today, marking another strong positive sign for the economy. Payrolls fell by 247,000, a big improvement over the 443,000 lost... More »

Welfare Rolls Soar Along With Unemployment

Many make shift as jobless benefits run out

(Newser) - Welfare rolls are on the rise nationwide for the first time since President Clinton signed a bill overhauling the system in 1996, the Wall Street Journal reports. Welfare recipients’ ranks fell in some areas at the beginning of the recession, but now 23 of the 30 biggest US states are... More »

Jobless Rate Hits 9.4%, But Layoffs Ease

(AP) - 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... More »

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... More »

Stocks Up on Jobs, Durables

(Newser) - Stocks headed higher at the open today, after a pair of promising economic reports. The Dow added 75 points, while the Nasdaq and S&P rose 1.1% and 1% respectively. Durable goods orders rose 1.9% last month, and new jobless claims fell 13,000 last week; both numbers... More »

Stocks Flat as Jobless Ranks Grow

(Newser) - Stocks crept slightly higher today, with the Dow up 22 points and the Nasdaq and S&P up 10.42 and 2.48 respectively. Wal-Mart gained 1% on an earnings report precisely in line with expectations, and Kohl’s better-than-expected number sent it up 2%. But any optimism was offset... More »

Top CEOs Expect to Cut More Jobs

(Newser) - The unemployment rate now stands at a 25-year high of 8.5%, but the nation's CEOs say it's only going to get worse. Nearly three-quarters of the leaders of the nation's biggest companies expect to lay off more workers in the next 6 months, USA Today reports. That percentage—71%—... More »

Stocks Head Higher on Job Data

(Newser) - Stocks headed slightly higher at the open, as commodities rallied and investors cheered better-than-expected jobless claims numbers. The Dow rose 31 points, and the S&P and Nasdaq were up 0.9% and 0.8% respectively. Initial jobless claims fell 12,000 last week, though the four-week moving average rose... More »

New Jobless Claims Fall More Than Expected

But continuing claims at record high for 8th straight week

(AP) - New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon. The Labor Department says the tally of initial requests for unemployment insurance dropped to a seasonally-adjusted 646,000... More »

Unemployment Leaps to 8.1%

(Newser) - Unemployment hit 8.1% in February, its highest level since late 1983, as employers cut 651,000 jobs, the government said today. That’s worse than the 7.9% analysts predicted, thanks to revised numbers from January and December that were much worse than originally reported. December’s revised loss... More »

Unemployed Furious at Contrarian Govs

Constituents fear losing out on stimulus dollars over politics

(Newser) - Opposing the stimulus’ expansion of unemployment benefits may be good PR, but there’s one constituency it’s not playing well with: unemployed people. “It just seems unreasonable,” one jobless Texan tells the New York Times, “that when people probably need the help the most, that because... More »

Jobs, GM Can't Knock Stocks

(Newser) - Stocks headed north early, with the Dow up 93 points, despite bleak economic data and a $9.6 billion loss from GM. Jobless claims unexpectedly leaped last week, with total claims topping 5 million for the first time, while durable goods orders sunk 5.2% in January. But JPMorgan rose... More »

Stocks Rise on Job, Price Data

(Newser) - Stocks climbed at the open, following jobless claims and wholesale price reports that, for once, didn’t contain any nasty surprises. The Dow was up 35 points, while the Nasdaq and S&P each rose about 0.8%. The producer-price index rose 0.8% in January, reflecting a widespread rise... More »

Job Losses Hit 3.6M; Unemployment at 7.6%

(Newser) - Nonfarm payrolls plunged 598,000 in January, the Labor Department announced today, bringing the total job losses to 3.6 million since the recession began in December 2007. The drop was significantly worse than analysts anticipated, and the worst since December 1974, the Wall Street Journal reports. The jobless rate... More »

Stocks Fall on Retail, Job Data

(Newser) - Stocks slid at the open today, following yet more negative numbers from retailers and the Labor Department, the Wall Street Journal reports. The Dow dropped 52 points, while the S&P fell 1%. The Nasdaq dropped 1.2%, weighed down by sub-par earnings from Cisco. New jobless claims ripped past... More »

Job, Housing Woes Sink Stocks

(Newser) - Stocks headed south this morning, following worse-than-expected housing and job data. Jobless claims rose by 62,000 last week, and housing starts slid 15.5%, to their slowest pace on record. The Dow sunk 144 points, accompanied by an 18-point decline in the S&P. A strong quarter from Apple... More »

New Jobless Claims Leap Past Estimates

Did you ever suspect they'd go down? Me either

(AP) - The number of new claims for jobless benefits jumped more than expected last week, as companies continue to cut jobs at a furious pace. The Labor Department reported today that initial claims rose to a seasonally adjusted 589,000, from an upwardly revised figure of 527,000 the previous week.... More »

Market Shrugs Off Jobs Report

Dow makes miniscule move

(Newser) - Stocks barely moved at the open in the wake of a gruesome but unsurprising jobs report. The Dow fluctuated between gains and losses, recently trading down 27 points, with the Nasdaq and S&P registering 0.6% and 0.5% declines. The country lost 2.6 million jobs in 2008,... More »

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