According to the Bureau of Labor Statistics, 15 million people were unemployed in the month of May. The national unemployment rate fell to 9.7 percent, mirroring the first three months of 2010. When compared to last months report, it appears that nearly 300,000 less people are unemployed. However, as past posts have pointed out, a [...]
Continue reading...Thursday, May 20, 2010
The number of Americans filing for unemployment rose by 25,000 in the past week according to the Department of Labor’s weekly report released earlier this morning. This number, according to Forbes, confounded industry analysts who expected the figure to drop as it had in past weeks. In fact, the figure represented the first increase in [...]
Continue reading...Tuesday, May 11, 2010
According to the Labor Department, initial claims for unemployment insurance dropped 7,000 Thursday and layoffs are down to pre-recession levels. Claims have receded from their peak in March 2009 of 651,000 to 450,000. In order to signify sustained job growth, economists believe claims need to fall below the 425,000 level. While the availability of new [...]
Continue reading...Friday, April 16, 2010
In Austin, Texas the unemployment rate for March inched up a mere 0.1%, a positive sign which indicates a regional job market turnaround. Economists have predicted job increases on the horizon for Austin. Several companies, notable among them being new Austin employer Facebook, have been increasing their hiring. Compared to last years 6.6% rate, unemployment is still [...]
Continue reading...Thursday, March 18, 2010
A study conducted by Portfolio.com declares Austin, Texas to be the best place in the country for young adults to find a new job. Austin stands out because it continues to add jobs to its economy. Two thirds of the job markets in the U.S. have fewer jobs now than five years ago but Austin [...]
Continue reading...Thursday, February 11, 2010
The White House is predicting a slow but steady job recovery for 2010. According to President Obama’s chief economist, Christina Romer, the White House anticipates job growth of 95,000 per month for this year but doesn’t expect significant movement in the unemployment percentage. This prediction mirrors many private forecasts, and the White House may be [...]
Continue reading...Thursday, January 21, 2010
Today’s news from the Labor Department is bad, but may not be as bad as it first appears. Initial claims for unemployment rose by 36,000 last week, well above the anticipated 4,000. Worse than that is the four week average, which ended its 20 week streak declines with an increase of 7,000. [...]
Continue reading...Thursday, January 7, 2010
The number of new claims for unemployment edged up slightly last week to 434,000. Analysts had predicted a much larger jump, to 447,000. The one week rise followed two straight weeks of declines, and the four week average, considered to be a more reliable indicator of trends in the job market, continued it’s [...]
Continue reading...Wednesday, December 23, 2009
Treasury Secretary Timothy Geithner appeared this morning on ABC’s “Good Morning America” to discuss the economic recovery. His message was one of cautious optimism. While discounting the possibility of job growth in December, Geithner was pleased with the lower than expect job loss rate in November and repeated what most economists are saying [...]
Continue reading...Thursday, December 10, 2009
New claims for unemployment rose slightly last week for the first time in six weeks, but the four week average continued to fall. The seasonally adjust number of first time claims rose by 17,000 to 474,000. Analysts had expected the number to fall to 450,000. However the four week average, which is [...]
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Thursday, June 10, 2010
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