unemployment

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We're Doomed Without Another Stimulus: Krugman

Jobs report offers scary echoes of 1930s stagnation

(Newser) - Yesterday's grim jobs report is the clearest sign yet that the US desperately needs another fiscal stimulus, writes Paul Krugman in the New York Times. This is 1930s redux: a Democratic president has pushed through an insufficient program, while strapped state governments cancel out federal spending with their own budget...

Bleak Jobs Report Raises Red Flags on Recovery
Bleak Jobs Report Raises Red Flags on Recovery
ANALYSIS
Jul 3, 2009 5:54 AM CDT

Bleak Jobs Report Raises Red Flags on Recovery

Weak labor market expected to cause longer recession

(Newser) - So much for those so-called green shoots of recovery. Yesterday's worse-than-expected unemployment report has far more red flags of warning on the jobs front, writes Moira Herbst in BusinessWeek. Among them: the average work week shrank to 33 hours, the lowest on record; hourly earnings remained flat; long-term unemployment rose...

Dow Falls 223 on Jobs Data
 Dow Falls 223 on Jobs Data 
MARKETS
Jul 2, 2009 3:35 PM CDT

Dow Falls 223 on Jobs Data

(Newser) - Stocks posted losses today, soured all session by worse-than-expected June employment data, the Wall Street Journal reports. With unemployment up a tenth of a percent to 9.5%  and wages remaining stagnant, investors have little to be optimistic about. The Dow lost 223.32 to settle at 8,280.74....

Stocks Plummet on Jobs Data
 Stocks Plummet on Jobs Data 
MARKET Open
Jul 2, 2009 8:46 AM CDT

Stocks Plummet on Jobs Data

(Newser) - Stocks tumbled at the open today after a worse-than-expected drop in June payroll figures, the Wall Street Journal reports. The Dow sunk 135 points, while the Nasdaq and S&P fell 1.8% and 1.6%, respectively. The economy shed 467,000 non-farm jobs in June; economists had predicted a...

June Jobless Rate Hits 9.5%, a 26-Year High

363K job cuts predicted

(Newser) - Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5% and suggesting that the economy's road to recovery will be bumpy. The Labor Department report released today, which shows 100,000 more jobs shed than expected, indicates that even...

Looking for Work? Better Have a Job Already

Another hurdle for job-seekers as unemployment nears 10%

(Newser) - Finding a job when unemployment is at 9.4% is hard enough. But the recently laid-off have another hurdle to contend with: Many employers are most interested in attracting candidates who are still working, the Wall Street Journal reports. “If they’re employed in today’s economy, they have...

Why GOP Sees Hope for 2010
 Why GOP Sees Hope for 2010 
ANALYSIS
Jun 24, 2009 10:34 AM CDT

Why GOP Sees Hope for 2010

GOP could mount a comeback, if it plays smart

(Newser) - They got an electoral thumping in 2006 and did no better in 2008, but Republicans may be getting their groove back. The GOP is still polling at record lows, and the Ensign scandal won’t help the party buck its reputation for moral hypocrisy. Yet, Politico reports, the opposition is...

Welfare Rolls Soar Along With Unemployment

Many make shift as jobless benefits run out

(Newser) - Welfare rolls are on the rise nationwide for the first time since President Clinton signed a bill overhauling the system in 1996, the Wall Street Journal reports. Welfare recipients’ ranks fell in some areas at the beginning of the recession, but now 23 of the 30 biggest US states are...

Mont. City Wants Facebook Password From Job-Seekers

Mont. city requires applicants to give access to social networking accounts

(Newser) - Job applicants for the city of Bozeman, Mont., had better be prepared to submit their passwords for social networking sites like Facebook, MySpace, and Twitter. A miffed applicant emailed Montana's News Station about the practice, which City Attorney Greg Sullivan quickly defended. "We do those types of investigations to...

Credit Card Firms Cut Deals With Delinquents

Newly relaxed policies allow firms to settle for portion of debt

(Newser) - With countless customers running behind on payments, credit card companies are taking it easy on delinquents, letting them off the hook in exchange for partial repayments, the New York Times reports. The firms began easing up on their previous policies last fall, experts say; now they’re letting frontline workers...

Economists See High Unemployment Through 2010

(Newser) - Economists think the US unemployment rate will stay above 9% through 2010, the Wall Street Journal survey finds. Accordingly, those in the know believe the Federal Reserve will hold interest rates down at least through spring. “For real people, there is no recovery until the unemployment rate stabilizes,”...

Zuma's First Big Test: South Africa's 23% Jobless

At 23.5%, unemployment keeps nation locked in poverty

(Newser) - South Africa is facing its first post-apartheid recession, and unemployment has hit 23.5%—a punishing figure that has ended the honeymoon of its new president, Jacob Zuma. Many who voted for Zuma have never had a job at all and are desperate for work, Celia Dugger reports for the...

Report Seeks More Bank Stress Tests

First round may have underestimated unemployment

(Newser) - The US should run a second round of bank stress tests if it turns out the government was overly optimistic about the economy in the first round, says a report to be presented to Congress today. The Congressional Oversight Panel, which monitors the bailout, applauded the tests thus far, but...

Obama's 'Jobs Saved' Claims Are Pure Hokum
Obama's 'Jobs Saved' Claims Are Pure Hokum
OPINION
Jun 9, 2009 8:46 AM CDT

Obama's 'Jobs Saved' Claims Are Pure Hokum

Ex-Bushie: Media won't call White House on its unmeasurable metric

(Newser) - President Obama confidently declared yesterday that the stimulus plan had already “saved or created” 150,000 American jobs and would “save or create” another 600,000 by this summer. Which is pretty surprising, former Bush official William McGurn writes in the Wall Street Journal, because the economy’s...

Dow Ends Big Week Up 13
 Dow Ends Big Week Up 13 
MARKETS
Jun 5, 2009 3:15 PM CDT

Dow Ends Big Week Up 13

(Newser) - The markets stalled today even as the Dow flirted with its peak for the year, the Wall Street Journal reports. An early rally on better-than-expected job loss data lost steam on news that the unemployment rate itself grew to its highest since 1983. And insiders aren’t sure that oil...

Jobless Rate Hits 9.4%, But Layoffs Ease

(Newser) - The unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the furious pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September. If laid off workers who have given up looking for new jobs or have settled for part-time...

Dow Up 75 on Jobless Data
 Dow Up 75 on Jobless Data 
MARKETS
Jun 4, 2009 3:11 PM CDT

Dow Up 75 on Jobless Data

(Newser) - Markets edged up today on good unemployment claims and productivity data, the Wall Street Journal reports. But traders appear to be holding out for tomorrow’s employment report, and the rising price of oil continues to worry. “We have to hope it doesn't go to $80,” one trader...

Wal-Mart to Create 22K More US Jobs

But retailer has slowed expansion

(Newser) - Wal-Mart plans to add 22,000 jobs to its US stores this year, down from last year's 33,800 new jobs in the face of slowed expansion. The retailer has gained market share from recession-minded consumers, but hasn't been immune to the downturn, and recently slashed 700 jobs in its...

Stocks Up on Positive Job Data
 Stocks Up on Positive Job Data 
MARKET Open
Jun 4, 2009 8:49 AM CDT

Stocks Up on Positive Job Data

(Newser) - Stocks inched higher this morning as investors chewed on retailer and jobs data. The Dow added 17 points while the Nasdaq and S&P rose 9.03 and 3.17 points respectively. Jobless claims took a rare step in the right direction last week, with ongoing claims dropping for the...

Phoenix 'Ma Barker' Ran Crew of Boy Robbers: Cops

Mother used sons, pals in heists to pay her bills

(Newser) - An out-of-work Phoenix mother has been arrested for organizing a gang of teenage robbers, including her two young sons, reports the Arizona Republic. The woman maintains she was merely the getaway driver, but investigators say she coached her posse to jump out of her car and pistol-whip other teens to...

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