Quick Facts
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Only 11% of Long-Term Unemployed Find Jobs
The situation is even bleaker than it might seem for the 3.8 million Americans classed as long-term unemployed, a new study finds. Only 11% of the long-term unemployed in any given month had found work a year later, according to research from three Princeton University economists, and they are... Go to Source Author: Rob Quinn
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Fed: Unemployment Isn’t Our Guide Anymore
The Federal Reserve will no longer rely on the unemployment rate as its be-all, end-all indicator of economic health, it announced today. Until now, the Fed has set its goal at 6.5% unemployment. But as the jobless rate nears that threshold , the central bank said it would keep rates... Go to Source Author: Kevin Spak
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Long-Term Unemployed May Get Benefits After All
Long-term unemployed people who lost their benefits at the end of last year now have hope of getting that money after all. A group of bipartisan senators struck a deal today to extend the benefits for five months, retroactive to December, reports Politico . Because five Republicans already have signed on... Go to Source Author: John Johnson
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Unemployment Ticks Up to 6.7%
Pretty decent news in today's jobs report: 175,000 jobs were added in February; economists had expected 152,000. The unemployment rate ticked up from 6.6% to 6.7%. It had been expected to drop to 6.5%, but the AP explains why you shouldn't be alarmed: It went... Go to Source Author: Evann Gastaldo
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Jobless Rate 6.6%, but That Fails to Impress
Another disappointing jobs report: Just 113,000 jobs were created in January; economists had expected 189,000, and the average monthly gain in 2013 was 194,000. The unemployment rate did tick down to 6.6% from 6.7% , as had been expected; that's a 5-year low, the AP reports.... Go to Source Author: Evann Gastaldo
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300 Companies Promise to Help Long-Term Jobless
President Obama says he has secured a pledge from more than 300 companies to rethink their hiring practices with the goal of helping the long-term unemployed. The president is meeting with top business leaders today at the White House, but he offered some details to CNN about the initiative last... Go to Source Author: John Johnson
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Jaws Drop Over December Jobs Report
A pretty dismal number on today's jobs report: Just 74,000 jobs were created in December, the smallest monthly increase in three years; economists had expected 200,000. And while the unemployment rate fell to 6.7% from 7.0%, it was "for all the wrong reasons," writes Steven Russolillo... Go to Source Author: Evann Gastaldo
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Jobless Bill Clears Key Senate Vote in Squeaker
A bill to revive extended unemployment benefits squeaked through its first procedural vote 60-37, a narrow win that outlets including Politico are characterizing as a surprise. Six moderate Republican senators voted with Democrats to renew the recently expired benefits: Kelly Ayotte, Susan Collins, Dan Coats, Dean Heller, Lisa Murkowski, and... Go to Source Author: Kevin Spak
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Dems Raising a Ruckus Over Jobless Benefits
President Obama plans to climb the bully pulpit this week and hammer Congress—but really, just congressional Republicans—for failing to extend long-term unemployment benefits. The White House has concocted a plan to keep the issue in the news on a daily basis, Politico reports. Tomorrow, Obama will invite a... Go to Source Author: Kevin Spak
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Unemployment Down to 7%
Today's jobs report beat expectations, with 203,000 new jobs added in November and the unemployment rate sliding to 7.0%. Economists had expected 180,000 new jobs and an unemployment rate of 7.2%, down from October's 7.3%, the Wall Street Journal reports. The unemployment rate is at... Go to Source Author: Evann Gastaldo
