unemployment

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7 Months of Job Growth Just Ended

Economy sheds 140K jobs in December

(Newser) - The relentless virus finally overtook new hiring. Employers shed 140,000 jobs in the US in December, reversing a trend of seven months of job growth, reports the Wall Street Journal . The unemployment rate stayed at 6.7%, which the AP notes is the first time it has not declined...

New Jobless Claims Still at 4 Times Normal

But they're down by 19K from last week

(Newser) - The number of Americans seeking unemployment benefits fell by 19,000 last week but remained elevated at 787,000 as a resurgent coronavirus gripped the US economy. While at the lowest level in four weeks, the new figures released Thursday by the Labor Department are nearly four times higher than...

'Several People Broke Down Crying in Phone Interviews'

'Washington Post' interviews those on brink of losing jobless aid or their businesses

(Newser) - It's a rough read for Christmas Day. But the Washington Post interviews 10 people pushed to the financial brink because of the pandemic who can't understand why Congress and the White House haven't been able to agree on a relief package. "Several people broke down crying...

New Jobless Claims Are, 'in Absolute Terms, Bad News'

They remain elevated at 803K

(Newser) - The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the US economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the...

Unemployment Claims Head in Wrong Direction

Weekly figure jumps to 853K, highest since September

(Newser) - The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher, per the AP . The Labor Department said Thursday that the number of applications increased from 716,000 the previous...

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...

Dec. 26 Could Be a Rough Day for 12M People

Jobless aid programs will expire unless Congress moves fast: study

(Newser) - When Todd Anderson lost his job doing landscape design for resorts in the spring, the single dad of four from Mackinaw City, Mich., began selling off his belongings. He squeaks by on the $362 he receives each week in unemployment benefits, reports NPR . But he’s about to lose that,...

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%...

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...

'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...

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