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Unemployment Hits 8.5%, Highest in 25 Years

(Newser) - Another punishing month of job losses in March has pushed unemployment to a 25-year-high of 8.5%, the Labor Department said today. Total job losses for the 16-month recession have now passed 5 million. Nonfarm payrolls fell 663,000 in March, which mostly matched analyst estimates, the Wall Street Journal...

Stocks Dive on Jobs Report
 Stocks Dive on Jobs Report 
MARKET Open
Apr 1, 2009 8:42 AM CDT

Stocks Dive on Jobs Report

(Newser) - A worse-than-expected jobs report sent stocks tumbling at the open today. The Dow careened down 125 points, while the S&P and Nasdaq sunk 1.8% and 1.9%, respectively. The private sector lost 742,000 jobs in March, according to a new ADP report. Investors were also nervous about...

G20 Protest Draws 35K to London Streets

(Newser) - Security patrols for next week's G20 summit, take note: A protest in London today drew an estimated 35,000 people, about three times as many as expected, the Guardian reports. Organizers of the march—a coalition of unions, church groups, and charities—are pushing for movement on “jobs, justice,...

College Towns See Lower Unemployment
College Towns See Lower Unemployment
Mar 24, 2009 12:56 PM CDT

College Towns See Lower Unemployment

Many boast unemployment rates far below national average

(Newser) - If you’re stymied by the tough job market, set your sights near a university: three of the six metropolitan areas with unemployment under 4% are college towns, and other academic havens boast unemployment numbers far below the 8.5% national rate. “We’re hurting for people,” an...

Working at Home Could Boost Layoff Risk, Some Fear

'Trend toward flexibility' makes about-face in rough economy

(Newser) - Workers who once had the flexibility to work from home are sticking to the office, worried that less “face time” could make them layoff targets, the Washington Post reports. To some women, the shift appears to be a step backward as pressure builds to “work as many hours...

Sweden to Saab: Tough Luck
 Sweden to Saab: Tough Luck 
Mar 23, 2009 8:34 AM CDT

Sweden to Saab: Tough Luck

The G.M.-owned Swedish automaker seeks a buyer to save itself

(Newser) - As governments around the world have propped up their automobile companies, typically paternalistic Sweden has answered Saab’s plea for help with an unexpected reply: “No.” No bailout, no takeover. The town of Trollhattan in southwest Sweden now faces economic catastrophe akin to Detroit’s decline as its...

Post Office Plans Big Job Cuts

(Newser) - Citing severe losses, the US Postal Service is slashing 1,400 jobs and offering early retirement to 150,000 workers, NPR reports. The post office will also shut down six district offices, but says delivery will not be affected. Hobbled by a 5.2 billion drop in mail volume in...

Teen Uses YouTube to Help Dad

14-year-old's video a heartfelt tribute to his dad

(Newser) - When Mark Gullett lost his job as a marketing executive for the Tampa Bay Lightning, his son Ben, 14, knew what to do. He made a somber YouTube video in which he told Mark’s story in short sentences on poster boards. Now, after only 6 days, the video has...

Boob Jobs Latest Aids in Boom, Bust Cycle

Breast jobs balloon as workers try to catch employer's eye

(Newser) - When the going gets tough, the tough get boob jobs. That's the theory from some British experts who point out that breast augmentation surgery has ballooned 30%. Laid-off female employees have time for recuperation—and apparently hope to capitalize on the boost bigger breasts appear to give women workers when...

Hard Times Again Push Irish Youth Abroad

Flatlining economy makes US, Britain, Canada attractive

(Newser) - After two decades of boom, Ireland’s economy has faltered and Irish youth are once again looking to distant shores for opportunity, the Los Angeles Times reports. Experts predict up to a 7% contraction this year for an economy that posted double-digit gains not too long ago, and, like their...

Europe's New Temp Worker Class Bears Recession Brunt

(Newser) - The new class of temporary workers created by European labor reform is suffering most in the current wave of job cuts, the Wall Street Journal reports, testing the new policies amid the threat of backlash. Short-term employees—easier and cheaper to fire than permanent ones—also get fewer unemployment benefits,...

Broader Jobless Rate Near 15%
 Broader Jobless 
 Rate Near 15% 
ANALYSIS
Mar 6, 2009 1:04 PM CST

Broader Jobless Rate Near 15%

Economy shedding jobs at fastest rate in 50 years

(Newser) - The February job numbers released today bring the country close to the employment nadir it reached in 1982, David Leonhardt writes for the New York Times. The 651,000 lost jobs, along with 161,000 added in revisions to previous months, still bring a depressing milestone: Since the start of...

College Grads Facing Worst Job Market in 7 Years

Experts say situation unlikely to improve by fall

(Newser) - Employers will hire 22% fewer graduates this spring compared to last year—making this year’s dropoff the largest since the 9/11 attacks and the dot-com bust devastated the economy in 2002, BusinessWeek reports. And the situation could worsen, with 46% of employers unsure if hiring levels will rebound by...

Recession Drives Workers to Trucking

Surging unemployment solves industry's chronic struggle to haul in drivers

(Newser) - Hard times have reversed the trucking industry's trouble finding recruits, the Wall Street Journal reports. Applications have surged as workers who once shunned the industry's demanding conditions can no longer afford to be choosy. At the same time the number of trucks on the road has dropped. Firms that once...

Jokey Bush Applies for, Turns Down Job

Former prez could have had free parking, discount in greeter gig

(Newser) - George W Bush made a surprise visit to the hardware store that published a job offer for him in a Dallas paper, joking that he was "looking for a job." The owner provided him with a jacket and nametag ("W"), and the former president spent...

World Economy Cuts Mexican Migration by 50%

Fewer citizens are immigrating, but emigrants aren't returning

(Newser) - Who needs a border fence when you have a shaky economy? That seems to be the message of Mexico's latest migration numbers, which show net emigration down by more than half for the year that ended in August 2008, compared with the previous 12 months. And the cause isn't more...

Hef's Ex Ditches 'Awkward' Playboy Gig, Too

(Newser) - Hugh Hefner’s ex-girlfriend Holly Madison has quit her job as “Playmate Editor” at Playboy, citing a long commute and an “awkward” work environment, Us Magazine reports. “It got to be routine, which was sad for me, since I was initially so passionate,” Madison said in...

Murder-Suicide Parents Fired for Misconduct

Dad claimed suicide pact; blamed Kaiser

(Newser) - The Los Angeles man suspected of killing his wife and five children before committing suicide lost his job due to misconduct, not layoffs, the Times reports. Ervin Antonio Lupoe and wife Ana were terminated from a Kaiser Permanente medical center, and sources say allegations of fraud were involved. A letter...

Home Depot Hacks 7K Jobs
 Home Depot Hacks 7K Jobs 
Jan 26, 2009 8:36 AM CST

Home Depot Hacks 7K Jobs

Home-improvement giant having rough time in slow housing market

(Newser) - Home Depot says it's cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation's housing market. The nation's largest home-improvement retailer says the cuts announced this morning will affect about 2% of its workforce. Its core Home Depot stores won't be affected.

Booming Mickey D's Plans European Surge

Global downturn? They're lovin' it

(Newser) - A rare beneficiary of the financial crisis, McDonald’s says it will build 240 new European locations and create 12,000 jobs, the Financial Times reports. The firm’s biggest expansion in 5 years will extend mainly to Spain, France, Italy, Russia, and Poland. “We’re certainly not slowing...

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