SubscribeAll Posts Tagged With: "unemployment benefits"
Unemployment and Payroll Losses Exceed Analyst Estimates
June’s unemployment rate increase was less than economists were anticipating, but the overall number of jobs lost was substantially higher than expected.
The unemployment rate crept up to 9.5% last month – its highest level since 1983, according to the latest report from the U.S. Department of Labor. That’s up from May’s 9.4% rate. Total job losses for the month were 467,000, far below the 365,000 economists at Briefing.com expected, which were also slightly off on their estimate of a 9.6% unemployment rate.
Of the sectors hurt most by payroll losses, none was worse than the service-providing industry, which saw a loss of 244,000…
6Jul2009 | Money Morning | 1 comment | ContinuedEmployment Report on Friday May Be Biggest Monthly Job Loss in 60 Years
When the Labor Department releases February’s U.S. employment numbers on Friday, economists are expecting to see the largest one-month job loss in nearly 60 years. With consumer spending in a freefall and factory output continuing to plunge, U.S. companies are idling plants, slashing extra workers and cutting back on the hours of those that remain, MarketWatch.com reported.
“Pink slips continue to fly,” said Meny Grauman, an economist for CIBC World Markets (CM).
The first week of the new month (March) brings two of the most important economic indicators: The ISM index and the nonfarm payrolls report. Both are expected to be quite grim.
Story continues…
3Mar2009 | Money Morning | 0 comments | ContinuedGlobal Unemployment Could Reach 50 Million This Year
The global financial crisis could wipe out 30 million jobs worldwide by the end of 2009, said the International Labor Organization (IOL), an agency of the United Nations.
The best-case scenario would be 18 million jobs lost, which would amount to a global unemployment rate of 6.1%. The loss of more than 50 million jobs lost and a 7.1% unemployment rate would be the worst-case scenario.
If the latter happens, the number of working poor – people who are unable to earn enough to lift themselves and their families above the poverty line ($2 per person per day) – may…
29Jan2009 | Money Morning | 0 comments | ContinuedInflation Cools as Economic Downturn Deepens
Consumer prices held steady as the credit crisis took a toll on the sluggish U.S. economy and dampened inflation.
The Labor Department announced yesterday (Thursday) that the Consumer Price Index (CPI) was unchanged in September after declining 0.1% in the prior month. Year-over-year, consumer prices increased 4.9% for the 12 months ended September 2008, down from a 5.4% increase in August.
Oil prices made up the bulk of the decline in consumer prices as the cost of crude has dropped by over half from its record high of $147 per barrel in July.
So-called core CPI, which excludes volatile food and energy…
17Oct2008 | Money Morning | Comments Off | ContinuedHeads I Win, Tails You Lose: Why the Senate Bailout Bill Will Fail Taxpayers
My sister lives in a landmark building in Coral Gables, Fla. There was a fire in one apartment in the building. After that fire was brought under control, the fire department – for some unknown reason – dropped a hose in the burned apartment, and left the water running … for hours.
That inane maneuver destroyed many apartments, crippled the building’s infrastructure and resulted in the building being temporarily condemned. The entire building was closed down for many months. Every person who lived there had to relocate. My sister, fortunately, had the wherewithal to take up temporary residence in the world-famous…
2Oct2008 | Money Morning | 1 comment | Continued
Loading ...
