unemployment

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Stocks Up on Mixed Job Data
 Stocks Up on Mixed Job Data 
MARKET Open
Dec 18, 2008 8:46 AM CST

Stocks Up on Mixed Job Data

But FedEx is cutting payroll...

(Newser) - There was good news and bad news on the job front today. Good news: Initial claims for unemployment dropped more than expected last week. Bad news: They’re still near a 26-year high, and FedEx announced that it’s cutting salaries by 5%. But the good outweighed the bad for...

Dow Off 100 as Rate Rally Dies
 Dow Off 100 as Rate Rally Dies 
MARKETS
Dec 17, 2008 3:27 PM CST

Dow Off 100 as Rate Rally Dies

Stocks fall on poor earnings, more job cuts

(Newser) - Stocks turned lower as jubilation over the Fed’s rate cut yesterday died down and concerns about the slumping economy returned today, the Wall Street Journal reports. Losses by Morgan Stanley and Goldman Sachs dragged financials lower. The Dow closed down 99.80 at 8,824.34. The Nasdaq fell...

Welfare Rolls Rising for First Time Since '90s

Tide of middle-class jobless could seriously strain program

(Newser) - Welfare numbers are rising in many states for the first time since public assistance was redefined more than a decade ago, the Washington Post reports. The numbers are still small compared to the days before welfare was retooled to steer people into jobs, but at least a dozen states say...

States Running Out of Cash for Jobless Benefits

Many cut taxes, weren't prepare for down turn

(Newser) - The ranks of the unemployed reached their highest levels since 1982 last week, and about 30 states are running out of money to fund them, the New York Times reports. Some states, including Indiana and Michigan, are already borrowing heavily from the federal government to keep up with jobless benefits,...

Detroit Failure Could Spark 'Economic Chaos'
Detroit Failure Could Spark
'Economic Chaos' 
ANALYSIS
Dec 13, 2008 9:17 AM CST

Detroit Failure Could Spark 'Economic Chaos'

Analysts warn that letting automakers sink will have impact across the economy

(Newser) - Letting one of the Big Three go under could have disastrous effects on many corners of the American economy, McClatchy Newspapers reports. Beyond the jobs lost at the companies and their suppliers—as well as the jobs lost everywhere those workers spend their wages—the repercussions would hit sectors as...

Jobless Claims Hit 26-Year High

338,000 more people claimed benefits last week

(Newser) - Some 58,000 jobless Americans filed their first request for unemployment benefits last week, pushing both the number of first-time filers (573,000) and number of people collecting benefits (4.43 million) to 26-year highs, MarketWatch reports. The post-Thanksgiving week is traditionally high in first-time claims, but rapid layoffs and...

NPR Lays Off 7% of Staff, Cuts 2 Shows

Corporate underwriting took big hit in recession

(Newser) - NPR will take two shows off the air and lay off 64 employees—7% of its workforce—to close an unexpected $23 million budget shortfall. Shows getting the ax are "Day to Day" and "News and Notes," both of which sought to diversify NPR's audience. The layoffs...

Sony Slashes 8,000 Jobs



 Sony Slashes 8,000 Jobs 
Dec 9, 2008 6:25 AM CST

Sony Slashes 8,000 Jobs

(Newser) - Sony is slashing 8,000 jobs, or 4%of its global work force, aiming to cut costs by $1.1 billion a year as a global downturn and stronger yen batters profits at the Japanese electronics maker. Sony, which has 185,000 employees worldwide, said today it will complete the layoffs...

Dow Chemical to Slash 5,000 Jobs, Close 20 Plants

Moves will save company about $700 million

(Newser) - Dow Chemical Co. will slash 5,000 full-time jobs—about 11% of its total work force—close 20 plants, and sell several businesses to rein in costs amid the recession, the company announced today. One of the largest chemical makers in the world, Dow expects the moves to save about...

30 Injured as Greek Riots Rage On

Police see no sign of protests' end

(Newser) - More than 30 people have been injured and streets ripped apart as thousands of protesters torched buildings, smashed windows and battled Greek police in a second day of pitched rioting in downtown Athens and other cities, the Guardian reports. "I've never seen anything like this," said a store...

It's Bad: NYC Cabbie With MBA Posts Résumé in Taxi

La Salle grad drives taxi while awaiting dream job

(Newser) - A recent MBA grad who can’t find a job does have a captive audience: his taxi passengers. After four months of job hunting, James Williamson got his taxi license and posted his résumé in his New York City cab. There aren’t any offers yet, but the 25-year-old...

Making the Best of a Layoff
 Making the Best of a Layoff 
Dec 6, 2008 9:21 PM CST

Making the Best of a Layoff

Losing a job can open window for 'career makeover'

(Newser) - How to survive a layoff? With more Americans facing that question, Newsweek rounds up some advice from success stories and career counselors. The advice is of the usual sort—take a deep breath to reassess, get some training or more education, and network. But it also notes that community colleges...

US Jobs Picture Even Worse Than It Looks
 US Jobs Picture
 Even Worse Than It Looks 
ANALYSIS
Dec 5, 2008 1:45 PM CST

US Jobs Picture Even Worse Than It Looks

6.7% unemployment figure doesn't count those not working or looking for work

(Newser) - As bad as today’s jobs report seemed, it actually soft-pedals the US employment situation, David Leonhardt writes in the New York Times. In November, 251,000 workers lost their jobs, driving the unemployment rate to 6.7%. But “unemployed” describes only individuals actively looking for work, and the...

Jobs Data Send Stocks Tumbling
 Jobs Data Send 
 Stocks Tumbling 
MARKET Open
Dec 5, 2008 8:54 AM CST

Jobs Data Send Stocks Tumbling

(Newser) - Stocks took a tumble at the open today, after a stunningly terrible payroll report showed that the US lost more than a half-million jobs in November, the 11th straight month of losses. The Dow fell 95 points, while the S&P and Nasdaq dropped 1% and 1.4% respectively, the...

US Lost Half-Million Jobs in Nov.
 US Lost 
 Half-Million 
 Jobs in Nov. 
Economy
Dec 5, 2008 8:24 AM CST

US Lost Half-Million Jobs in Nov.

Biggest drop in 34 years

(Newser) - November saw 553,000 Americans lose their jobs, according to a Labor Department non-farm payrolls report, the steepest drop in 34 years. The number exceeded even the grimmest predictions in Bloomberg’s survey of 73 analysts. “The labor market capsized in November,” said one economist. “The financial...

Dow Loses 215 on Job Cuts
 Dow Loses 215 on Job Cuts 
MARKETS
Dec 4, 2008 3:16 PM CST

Dow Loses 215 on Job Cuts

Retailers miss estimates as consumer rein in spending

(Newser) - The markets lost value today amid data that unemployment is growing, and poor sales reports from retailers, MarketWatch reports. Traders are bracing for the worst ahead of the November jobs report, due tomorrow. The Dow fell 215.45, closing at 8,376.24. The Nasdaq dropped 46.82 to settle...

Auto Bailout Has Detractors Back in Michigan, Too

Some don't feel sorry for 'high-on-the-hog' Detroit giants

(Newser) - The auto industry has driven Michigan’s economy since Henry Ford set up shop, but not all residents are sympathetic to Detroit’s plight, the New York Times reports. Unemployment runs high, and some wonder where the rescue was when their livelihoods were on the line. “The car companies...

Youths Flee Struggling Iceland
 Youths Flee Struggling Iceland 
Dec 2, 2008 3:49 PM CST

Youths Flee Struggling Iceland

Ailing economy forcing mass exodus

(Newser) - Iceland faces its largest exodus in a century as job seekers flee the ailing nation, which is steeped in its worst financial crisis since independence. One survey estimates about half of Icelanders between 18 and 24 plan are thinking about leaving the country for Norway and other relatively strong economies....

Job-Hunting Execs Find It Tight at the Top

Financial crisis leads to surplus of six-figure jobseekers

(Newser) - Laid-off execs scrambling to find new six-figure salaries are facing fierce competition, Time reports. Thousands of high-end white-collar jobs have vanished recently, and many more are expected to go. Some top-level vacancies are still appearing, as execs retire or change jobs, but companies looking to fill their most powerful positions...

Swamped Job Centers 'the ERs of Today's Economy'

Jobless rate at 16-year high; 20M likely to use such programs

(Newser) - With unemployment at 6.5%—a 16-year high—one-stop job centers, the “emergency rooms of today’s economy,” are facing a flood of applicants, the New York Times reports. Some 20 million are likely to use federal employment programs this year, compared to 14 million 3 years ago....

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