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...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 [...]
Continue reading...Wednesday, December 2, 2009
Payroll services company ADP released its monthly report today and said that the private sector cut another 169,000 jobs in November. This is down from 195,000 in October and marks the eighth straight month that job cuts have fallen. Analysts are predicting net job growth starting in February and a return to “full [...]
Continue reading...Thursday, November 12, 2009
New unemployment claims dropped off last week, to a seasonally adjusted 502,000. That’s that fewest new claims since the week ending January 3 of this year. Analysts were expecting a higher number, but caution that it needs to fall even further before we will see a true turn around. New claims in [...]
Continue reading...Friday, November 6, 2009
The number of temp jobs jumped up last month, rising by 34,000 jobs. Although overall unemployment also went up, analysts are hailing the increase of temp jobs as the first step towards a turn around in the job market. Temp jobs have historically been the first sector to work its way out of [...]
Continue reading...Friday, November 6, 2009
The national unemployment rate moved up another .4 percent in October to a 25 year high of 10.2 percent. Employers cut more jobs than forecast, nudging the number up further than had been expected. Construction and manufacturing jobs continue to show the largest declines. The news isn’t all grim, however. The rate of [...]
Continue reading...Wednesday, October 21, 2009
23 states saw an increase in their jobless rate last month. 43 states lost jobs in September while only 7 states saw an increase. Because the unemployment rate does not count long term unemployed who have stopped looking for work, several states lost jobs but saw a drop in the unemployment figures anyway. Nevada [...]
Continue reading...Tuesday, October 13, 2009
Cincinnati has lost 14% of its manufacturing jobs over the last two years, contributing to Ohio’s overall loss which is among the highest in the nation. Over the last two years, Ohio has lost 6% of its manufacturers. The hardest hit sector has been transportation equipment manufacturing, which includes the auto industry, and [...]
Continue reading...Tuesday, October 13, 2009
The unemployment rate in Washington edged up to 9.3 percent, with 313,000 people out of work and looking for jobs. Although much higher than the 5.5 percent rate this time last year, Washington still remains below the national average of 9.8 percent. The job market continues to lag behind economic recovery, and state [...]
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Thursday, January 21, 2010
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