unemployment rate

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Jobs Number Comes In Much Worse Than Expected

Employers added 245K jobs, a big dropoff

(Newser) - The new unemployment report is out, and it has a figure that in normal times would be strong: Employers added 245,000 new jobs in November. Meanwhile, the unemployment rate dropped from 6.9% to 6.7%. But in the context of the surging pandemic, the stat about new jobs...

GAO: Weekly Unemployment Numbers Flawed

Government watchdog finds Labor Department has been providing an inaccurate reading

(Newser) - A government watchdog has found that the Labor Department’s widely watched weekly unemployment benefits data are providing an inaccurate reading on the number of newly laid off workers because of flaws in the government’s data collection. The Government Accountability Office said in a report Monday that the Labor...

Virus Numbers Aren't the Only Ones On the Rise

Jobless claims are up, too, for the 2nd week in a row

(Newser) - The number of Americans applying for unemployment benefits rose last week for a second straight week, to 778,000, evidence that the US economy and job market remain under strain as coronavirus cases surge and colder weather heightens the risks. The Labor Department's report Wednesday said jobless claims climbed...

October Jobs Report Stronger Than Expected

Employers added 638K jobs, and unemployment rate fell to 6.9%

(Newser) - The new monthly jobs report is out, and it's stronger than expected, reports CNBC . Employers added 638,000 jobs in October, above expectations of 530,000. The unemployment rate fell to 6.9%, down from 7.9% in September. Still, that remains well above the rate of 3.5%...

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,...

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...

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...

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...

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...

Trump Points to Jobs Report as Cure for Race Issues
Trump: It's a 'Great Day'
for George Floyd
the rundown

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...

Millions More Jobless in US, but a Small Bright Spot

Layoffs are slowing as businesses start to reopen, rehire workers

(Newser) - Roughly 2.1 million people applied for US unemployment benefits last week, a sign that companies are still slashing jobs in the face of a deep recession even as more businesses reopen and rehire some laid-off employees. About 41 million people have now applied for aid since the virus outbreak...

Here's Where Jobs Have Taken Hardest COVID Hit

WalletHub looks at states where coronavirus has had the biggest effect on unemployment

(Newser) - Since the coronavirus has found its way to the United States, the economic ramifications have been devastating, leaving unprecedented numbers of people out of work and businesses folding. WalletHub looked at all 50 states and the District of Columbia to see which have been suffering the most on the jobs...

Trump's Top Economic Advisers Warn Things Will Get Worse

Unemployment rate could end up higher than 20% by next month, one predicts

(Newser) - The US economy is in rough shape, and things are going to get worse. That was the dire prediction from not one but two of the White House's top economic advisers Sunday, per the Washington Post :
  • "The reported numbers are probably going to get worse before they get
...

The Jobs Report Is Coming. It's Going to Be Grim
'And Now, It's Gone':
What the Jobs Report Will Hold
the rundown

'And Now, It's Gone': What the Jobs Report Will Hold

US is expected to have wiped out a decade's worth of jobs

(Newser) - The monthly jobs report is out at 8:30am ET Friday, when we'll find out just how grim the April employment numbers are. The March report was "shocking," without even showing the true brunt of the coronavirus pandemic's impact since the relevant surveys end mid-month. Media...

Millions More Join the Ranks of the Unemployed

20% of US workers have filed for unemployment aid

(Newser) - Another 3.2 million Americans filed for unemployment benefits last week, bringing the total over seven weeks to 33.5 million—or one in five Americans who were employed as of February, per the AP . Economists had predicted 3 million claims, Reuters reports. The week ending May 2 was the...

With Millions More Laid Off, a Dire Prediction From Economists

After 5.2M more file for unemployment, unemployment rate could hit 20% in April

(Newser) - The wave of layoffs that has engulfed the US economy since the coronavirus struck forced 5.2 million more people to seek unemployment benefits last week. Roughly 22 million have sought jobless benefits in the past month—easily the worst stretch of US job losses on record. All told, nearly...

Grim Numbers Expected in Today's Jobs Report

And there is much worse to come, analysts say

(Newser) - After a record 113 straight months of hiring, the government's monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result of the coronavirus. Economists have forecast that the government will say employers shed about 150,000...

New Projection: Job Losses Will be Brutal but Temporary
New Forecast: 47M Jobs Lost

New Forecast: 47M Jobs Lost

Unemployment could top 32%, economist writes

(Newser) - The head of the St. Louis Fed predicted last week that US unemployment will hit 30% before the economic damage inflicted by the pandemic is over. An economist at the St. Louis Fed has written a research paper saying the toll could be even worse: 32.1% unemployment, for a...

Jobs Report Rock Solid, Despite GM Strike

Employers add 128K jobs as unemployment rate edges up to 3.6%

(Newser) - US employers added a solid 128,000 jobs in October, a figure that was held down by a now-settled strike against General Motors that caused several thousand workers to be temporarily counted as unemployed. The Labor Department says the unemployment rate ticked up from 3.5% to 3.6%, still...

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