Author Archive
-
Hiring Rights Itself After a One-Month Dip
The new jobs report is out, and the big number is back in positive territory. Employers added a modest 49,000 jobs in January, though that was in line with expectations of 50,000, reports CNBC . The increase may be "tepid," as the AP describes it, but it also reverses... Go to Source Author: John Johnson
-
Calif.: Criminals Raided Unemployment Funds to Tune of $11.4B
From March of last year to the middle of January, California paid out some $114 billion in unemployment benefits. Now, the state's labor secretary, Julie Su, has some alarming news on about $11.4 billion, or 10%, of that figure—those payments were fraudulent, stolen by hackers, identity thieves, and... Go to Source Author: Jenn Gidman
-
7 Months of Job Growth Just Ended
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... Go to Source Author: Newser Editors
-
New Jobless Claims Still at 4 Times Normal
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... Go to Source Author:
-
‘Several People Broke Down Crying in Phone Interviews’
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 in phone interviews," write... Go to Source Author: Newser Editors
-
New Jobless Claims Are, ‘in Absolute Terms, Bad News’
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... Go to Source Author:
-
Unemployment Claims Head in Wrong Direction
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... Go to Source Author:
-
Jobs Number Comes In Much Worse Than Expected
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... Go to Source Author: Newser Editors
-
GAO: Weekly Unemployment Numbers Flawed
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 Department’s weekly... Go to Source Author:
-
Virus Numbers Aren’t the Only Ones On the Rise
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 from... Go to Source Author:
