Tag Archives: unemployment

US Added 559K Jobs In May, Unemployment At 5.8%

Bloomberg News reports: U.S. job growth accelerated in May and the unemployment rate fell, signaling firms are making progress filling a record number of openings as the economy powers up. Payrolls increased by 559,000 last month after a revised 278,000 gain in April, according to a Labor Department report Friday. The median estimate in a Bloomberg survey of economists was …

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Weekly New Jobless Claims Near Pre-Pandemic Level

CNBC reports: Initial jobless claims fell below 400,000 for the first time since the early days of the Covid-19 pandemic as the labor market continues to recover, the Labor Department reported Thursday. First-time filings for unemployment benefits totaled 385,000 for the week ended May 29, a decline from the previous week’s 405,000 and below the Dow Jones estimate of 393,000. …

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Labor Dept: New Jobless Claims At Pandemic-Era Low

Bloomberg News reports: Applications for U.S. state unemployment insurance fell last week to a fresh pandemic low, signaling steady improvement in the job market as remaining business restrictions are lifted. Initial claims in regular state programs decreased by 34,000 to 444,000 in the week ended May 15, Labor Department data showed Thursday. The drop in jobless applications shows the labor …

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Labor Dept: New Jobless Claims Hit Pandemic-Era Low

Bloomberg News reports: Applications for U.S. state unemployment insurance fell to a fresh pandemic low last week as business confidence strengthens and employers seek to fill more positions left open by restrictions. Initial claims in regular state programs declined by 34,000 to 473,000 in the week ended May 8, Labor Department data showed Thursday. The labor market continues to improve …

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US Added 916K Jobs In March, Unemployment At 6%

NBC News reports: The U.S. economy added 916,000 jobs last month and the unemployment rate fell to 6 percent, in the strongest indication yet that the labor market is finally working its way back to pre-pandemic norms as the number of vaccinations continues to rise. The hiring and employment data, released Friday by the Bureau of Labor Statistics, firmly beat …

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Goldman Sachs Forecasts Jobless Rate Falling To 4.1%

The Hill reports: The unemployment rate could drop to 4.1 percent or even lower this year, according to a Goldman Sachs forecast released late Sunday night. Ultimately, the bank forecasts that unemployment will drop to 3.2 percent by 2024. If that were to happen, it would surpass the 50-year record set in the Trump administration, notching a significant win for …

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Manchin Defends Vote To Cut Unemployment Benefits

ABC News reports: “I didn’t do anything intentionally whatsoever,” Manchin said. “I did everything I could to bring us together so we’d have more support, and the public would get the needed help, as needed. We have so many different ways that we’re helping the public with this piece of legislation.” Debate over jobless benefits paralyzed the Senate for hours …

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New Unemployment Claims Soar In Trump’s Final Week

The Associated Press reports: The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the virus struck. Before the pandemic, weekly applications typically numbered …

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Final Jobs Report For Trump Admin Is Worst In Months

NBC News reports: The economy shed 140,000 jobs in December, a clear indication that the pandemic’s chokehold on economic activity strengthened in the final weeks of last year. The unemployment rate held steady at 6.7 percent. In the final jobs report of 2020, Friday’s monthly employment snapshot from the Bureau of Labor Statistics shows a labor market teetering on the …

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Unemployment Benefits Expire Today For 14 Million

The Hill reports: Millions of people will lose federal unemployment benefits on Saturday as a result of the standoff between Congress and President Trump over the COVID-19 relief measure passed by the House and Senate this week. Fourteen million people will lose benefits through two programs set up under legislation earlier this year in the initial response to the coronavirus …

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New Jobless Claims Surge To 885,000 For Week

Bloomberg News reports: Applications for U.S. unemployment benefits unexpectedly jumped to the highest level in three months, suggesting the labor market’s recovery is faltering amid the surge in Covid-19 cases and widening business closures. Initial jobless claims in regular state programs rose by 23,000 to 885,000 in the week ended Dec. 12, Labor Department data showed Thursday. On an unadjusted …

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Labor Dept Reports Surge In Jobless Claims For Week

Bloomberg News reports: Applications for U.S. unemployment benefits surged last week and exceeded most estimates, suggesting that widening business shutdowns to curb the pandemic are spurring fresh job losses. Initial jobless claims in regular state programs rose by 137,000 to 853,000 in the week ended Dec. 5, Labor Department data showed Thursday. On an unadjusted basis, the figure increased by …

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Labor Dept Reports 712K New Jobless Claims For Week

MarketWatch reports: New applications for U.S. unemployment benefits fell in late November for the first time in three weeks, probably due in part to the Thanksgiving holiday. The number of people applying for benefits, however, is still quite high and the latest decline is unlikely to dispel fresh worries about rising layoffs and a slowdown in hiring after a record …

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New Jobless Claims Spike To 778,000 For Week

Bloomberg News reports: Applications for U.S. state unemployment benefits unexpectedly jumped to the highest level in a month, underscoring a fragile labor market at risk of faltering as coronavirus cases soar. Initial jobless claims in regular state programs increased by 30,000 to 778,000 in the week ended Nov. 21, according to Labor Department data Wednesday. Without adjustments for seasonal fluctuations, …

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Labor Dept Reports Spike In New Jobless Claims

The Wall Street Journal reports: The number of applications for unemployment benefits rose sharply last week, indicating continued challenges for the U.S. economic recovery as coronavirus infections increased around the country. Initial claims for jobless benefits, a proxy for layoffs, rose to a seasonally adjusted 742,000 last week, up from the 711,000 filed a week earlier, the Labor Department said …

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Labor Dept Reports 751K New Jobless Claims For Week

CNBC reports: The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, declining for a second straight week, the Labor Department reported Thursday. Initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24, down 40,000 from the previous week. Economists polled by Dow Jones expected initial jobless claims to come in …

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Labor Dept Reports 787K New Jobless Claims For Week

The New York Times reports: The government reported on Thursday that 757,000 workers filed new claims for state unemployment benefits last week, a drop of 73,000 from the previous week but still a stubbornly high rate as the incipient economic recovery struggles to maintain a foothold. Another 345,000 new claims were filed under a federal jobless program that provides benefits …

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Labor Dept Reports 898K Jobless Claims Last Week

CNBC reports: American workers continued to hit the unemployment line in large numbers last week, with 898,000 new claims filed for jobless benefits. Economists surveyed by Dow Jones had been looking for 830,000. The total for the week ended Oct. 10 was the highest number since Aug. 22 and another sign that the labor market continues to struggle to get …

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Labor Dept Reports 837K New Jobless Claims For Week

Yahoo Finance reports: Another 837,000 individuals filed new jobless claims last week, for a marginal step down from the upwardly revised 873,000 reported for the prior period. This marked the fifth straight week that new jobless claims come in below 1 million. On a seasonally unadjusted basis, claims also declined, falling by more than 40,000 to 786,942. But six months …

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Labor Dept Reports 870K New Jobless Claims For Week

Yahoo Finance reports: Another 870,000 Americans filed for first-time unemployment benefits last week, unexpectedly rising slightly from the prior week to reaffirm a slowdown in the U.S. economic recovery. The U.S. Department of Labor released its weekly jobless claims report at 8:30 a.m. ET Thursday. At 870,000, Thursday’s figure represented the fourth consecutive week that new jobless claims came in …

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