jobless recovery

12 Stories

This Month's Jobs Report a Surprise—the Bad Kind

Economy adds just 126K jobs, and more not-great news

(Newser) - The US economy added just 126,000 jobs in March—not even close to the 248,000 economists had expected, the Wall Street Journal reports. The unemployment rate remained unchanged , at 5.5%. At the Journal, Paul Vigna calls the jobs number a "surprise," noting that's the... More »

Obama's Jobs Bill Goes to Congress Tonight

But it's missing one crucial element, 'Los Angeles Times' notes

(Newser) - "Pass this bill," President Obama said more than two dozen times during his two speeches last week touting his jobs bill —and he’ll say it again tonight when he officially sends the American Jobs Act to Congress. “He will call on Congress to pass the... More »

Unemployment Now 9.2% as Hiring Nears Standstill

And May numbers revised downward as well

(Newser) - The June jobs report is out, and it isn't pretty. Hiring slowed to a near-standstill last month: Employers added the fewest jobs in nine months and the unemployment rate rose to 9.2%. The Labor Department says the economy generated only 18,000 net jobs in June, and the... More »

Unemployment Falls to 2-Year Low: 8.8%

It's fallen full point over past four months, the sharpest drop since 1983

(Newser) - The unemployment rate fell to a two-year low of 8.8% in March and companies added workers at the fastest two-month pace since before the recession began. The Labor Department says the economy added 216,000 new jobs last month, offsetting layoffs at local governments. Factories, retailers, education, health care,... More »

Unemployment Dips to 8.9%

That's nearly a two-year low

(Newser) - More good news in February : The unemployment rate dipped to 8.9%—a nearly two-year low—as employers hired at the fastest pace in nearly a year. The economy tacked on 192,000 jobs last month, with factories, professional and business services, education, and health care among those expanding employment.... More »

Recession Over for US Firms, Not Workers

US jobless rate higher than competitors despite soaring profits

(Newser) - The US recession is over—at least, for businesses. US workers are still mired in it. Unlike its economic competitors, America's profits have bounced back to above 2007 levels, but the unemployment rate is higher than in Britain or Russia and much higher than in Germany, Japan, or China, notes... More »

'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

(Newser) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down... More »

New Hiring Is Weak: Jobless Rate Still 9.5%

Unemployment report has no happy surprises

(Newser) - Private employers added new workers at a weak pace for the third straight month, making it more likely economic growth will slow in the coming months. The jobless rate was unchanged at 9.5%. The Labor Department said companies added a net total of 71,000 jobs in July, far... More »

Jobless Flood Suicide Hotlines

Calls spike 18% from January to May

(Newser) - Calls to the National Suicide Prevention Lifeline have spiked precipitously this year, likely indicating a surge in actual suicides. The official suicide rate always lags by several years, but the Lifeline says calls jumped 18% from January to May, reaching an all-time high of 59,500. It’s possible that’... More »

Jobless Masses a Boon for Employers

Companies can hire better workers, pay less

(Newser) - High unemployment isn’t bad for everyone. Many companies are taking advantage of the jobless masses, hiring extremely motivated workers at discount rates, Bloomberg reports. “Companies are getting higher-productivity employees for the same or lower wage rate they were paying a marginal employee,” explains one investment strategist. “... More »

Half of States Still In Recession

Economies shrunk in 25 states over the last 3 months

(Newser) - Many Americans can’t seem to believe the recession is over, and there’s a very good reason for that: For them, it isn’t. Over the past month, 21 states saw their economies grow, while 22 saw it shrink—that number jumps to 25 if you look at the... More »

Jobless Will Stay That Way—for Years

Recovery robust enough to pull 15M off unemployment rolls unlikely

(Newser) - "Jobless recovery" is no mere catchphrase to the millions of Americans that the middle class has shed from its ranks. Many have been out of work for so long that they've exhausted unemployment benefits as the systems strains under what one expert says is "the reality of long-term... More »

12 Stories