unemployment – News Stories About unemployment - Page 38

Nov 18, 2008 9:29 AM CST

Iraq Vets Hit by Financial Woes

Disabled veterans struggle to find jobs, keep homes

(Newser) - Many soldiers returning from Iraq are finding themselves up against a new enemy: their finances. Unemployment, lack of credit, and foreclosures all seem to be hitting veterans harder than the average citizen, the New York Times reports. "You fill out a job application and you can’t write ‘...

Citibank to Cut
50,000 Jobs

Nov 17, 2008 8:19 AM CST

Citibank to Cut 50,000 Jobs

(Newser) - Citigroup plans to slash more than 50,000 jobs, roughly 14% of its workforce, the company announced today, in an effort to shed expenses during the economic downturn. The cuts are in addition to the 23,000 heads that have already rolled this year, Bloomberg reports. Citi stock fell 19%...

Sun Micro to Cut 5,000 Jobs

Nov 14, 2008 8:19 AM CST

Sun Micro to Cut 5,000 Jobs

Software giant slashes 15-18% of workforce

(Newser) - Sun Microsystems intends to lay off 5,000 to 6,000 employees, amounting to 15-18% of the computer maker’s workforce. The cuts should shave about $800 million off Sun’s costs, as the company struggles to compensate for swiftly declining sales. Sun lost $1.68 billion last quarter, as...

Soaring Jobless Claims
Leave Stocks Flat

MARKET Open

Nov 13, 2008 8:55 AM CST

Soaring Jobless Claims Leave Stocks Flat

Jobless claims reach 7-year high

(Newser) - Jobless claims rose to a 7-year high last week, but that didn’t appear to move the needle for stocks, which barely budged at today's open. The Dow crept up 66 points, while the S&P and Nasdaq rose 0.9% and 0.4% respectively. A staggering 32,000 filed...

To Avoid Recession, Cheer Up: Aussie Pol

Nov 12, 2008 3:31 PM CST

To Avoid Recession, Cheer Up: Aussie Pol

Finance minister pushes power of the positive

(Newser) - Australia's finance minister apparently didn't see what happened to Phil Gramm last summer when he declared that the US economic slowdown was "mental" and called Americans a "nation of whiners." The recession would disappear, said Ken Henry, if Australians would just buck up, Australia’s News...

Stocks Close Up 248
Despite Tough Jobs News

MARKETS

Nov 7, 2008 3:24 PM CST

Stocks Close Up 248 Despite Tough Jobs News

But Friday rally can't heal brutal weekly losses

(Newser) - Stocks gained today despite a big bump in unemployment last month and poor earnings reports, MarketWatch reports. The indexes looked positioned for another late-Friday bloodbath but instead rose sharply in what could be a vote of confidence for President-elect Obama’s economic team. The Dow rose 248.02 to 8,...

Unemployment Hits 14-Year
High; Stocks Flat

MARKET Open

Nov 7, 2008 8:54 AM CST

Unemployment Hits 14-Year High; Stocks Flat

To be fair, they've already had the worst two-day stretch since 1987

(Newser) - The economy lost 240,000 jobs in October, bringing unemployment to 6.5%, its highest rate since 1994. It was the 10th-straight negative month, bringing the year’s losses to 1.2 million. But the staggering report did little to move the needle on Wall Street, as the Dow actually...

Dow Off 400+ Again, Below 9K

MARKETS

Nov 6, 2008 3:30 PM CST

Dow Off 400+ Again, Below 9K

Worrisome news on retail, jobs sink stocks

(Newser) - Stocks added to yesterday’s deep declines with the major indices registering falls of 4%-5% today, MarketWatch reports. A string of poor retail reports soured confidence ahead of tomorrow’s October unemployment report, expected to be grim. The Dow fell 443.48, dropping below the 9,000 mark to 8,...

Dow Tumbles Almost 500

MARKETS

Nov 5, 2008 3:34 PM CST

Dow Tumbles Almost 500

Markets move past election euphoria to sober economic reality

(Newser) - Today's Obama buzz apparently didn't make it to Wall Street, where the markets plunged as dismal economic reports reminded investors of the challenges facing US business, the Wall Street Journal reports. Stocks gave up all of their Election Day gains and continued to fall as the Dow lost 486.01...

'Consumers Have Thrown In the Towel': Report

Oct 31, 2008 9:24 AM CDT

'Consumers Have Thrown In the Towel': Report

Weary from a long fight, consumers are retrenching, cutting purchases across the board

(Newser) - The punches are coming from all directions and consumers, beaten down and out of breath, are clearly ceding the fight through decreased spending, Bloomberg reports. The scorecard released today says it all: consumer purchases were down 0.3% in September, the biggest drop in 4 years, capping the weakest quarter...

Crisis May Cost World 20M Jobs

ANALYSIS

Oct 21, 2008 3:22 PM CDT

Crisis May Cost World 20M Jobs

Analysts see 'equal-opportunity recession'

(Newser) - The financial sector is slashing workers, and Silicon Valley employees are dropping like prices on last year's iPod. What industry is next? All of them, Moira Herbst writes in BusinessWeek. Every company relies on credit and consumer purchasing power, making this an “equal-opportunity recession,” a staffing agent says....

Enough about the Deficit: It's Time to Spend

OPINION

Oct 17, 2008 10:32 AM CDT

Enough about the Deficit: It's Time to Spend

The Fed can't help much, but the government can

(Newser) - Volatile markets rule the headlines, but the imperiled nonfinancial economy is more worrisome, Paul Krugman writes in the New York Times. The way to get that rolling again, contrary to what John McCain said in Wednesday’s presidential debate, is to ignore the deficit and increase government spending. As retail...

Calif. Portends
Recession to Come

Oct 9, 2008 9:02 AM CDT

Calif. Portends Recession to Come

The housing bubble burst there first ... is California a sign of things to come in US?

(Newser) - Trend-setting California may be the “canary in the mine shaft,” its own recession showing the rest of the country what a national downturn could look like, reports the Wall Street Journal. The state’s $1.8 trillion economy has been bludgeoned by an unemployment rate among the worst...

Unemployment
Funds Could
Dry Up

Oct 9, 2008 7:39 AM CDT

Unemployment Funds Could Dry Up

Growing ranks of jobless stressing states' abilities to help

(Newser) - At least 10 states have less than six months worth of unemployment benefit reserves and could run out of cash early in 2009, reports CNN. The national unemployment level is currently at 6.1%—the highest since 2001—and is expected to keep climbing. Economists say states should have packed...

Jobless Exec
Slaughters Family

Oct 7, 2008 4:07 AM CDT

Jobless Exec Slaughters Family

Cops link murder-suicide to stock market crash

(Newser) - An unemployed financial manager shot dead his entire family and himself in their San Fernando Valley home, the Los Angeles Times reports. Officers found the bodies of the man, his wife, his mother-in-law, and their three sons, ages 19, 12, and 7, after concerned family friends contacted police. The man,...

Consumers Squeezed, Spending Stalls

Oct 3, 2008 10:45 AM CDT

Consumers Squeezed, Spending Stalls

As prices rise, wages fall and unemployment jumps, spending growth has stalled

(Newser) - The current economic crisis is shaping up to be different than others Americans have weathered in the past 20 years in an important respect, the Washington Post reports: consumer spending, which the nation could always count on to propel the economy through, has stalled. Real spending, the catalyst behind 70%...

Employers Cut Payrolls at Fastest Rate
in 5 Years

Oct 3, 2008 8:22 AM CDT

Employers Cut Payrolls at Fastest Rate in 5 Years

Some 159,000 positions disappear

(Newser) - Employers slashed payrolls by 159,000 in September, the most in more than 5 years and a worrisome sign that the economy is hurtling toward a deep recession. Today's snapshot also showed the nation's unemployment rate held steady at 6.1% as hundreds of thousands of people streamed out of...

Dow Reels on Economic Fears

MARKETS

Oct 2, 2008 3:43 PM CDT

Dow Reels on Economic Fears

Bailout progress fails to inspire confidence in equities

(Newser) - Stocks fell sharply today as political progress on the bailout failed to encourage traders who were absorbing poor jobs and manufacturing data, MarketWatch reports. The Dow lost 348.22 and closed at 10,482.85, the Nasdaq shed 92.68 to 1,976.72, and the S&P 500 fell...

As Economy Sinks,
Lottery Sales Soar

Sep 13, 2008 10:50 AM CDT

As Economy Sinks, Lottery Sales Soar

Consumers tightening belts don't scratch their lottery spending

(Newser) - As the economy falters, one thing people aren’t cutting back on is lottery tickets, the New York Times reports. In fact, higher unemployment rates usually mean higher lottery sales, says one study, and sales are hitting record highs in at least 22 states. “With companies tightening and not...

Stocks Mixed; Down For Week

MARKETS

Sep 5, 2008 3:26 PM CDT

Stocks Mixed; Down For Week

Sliding oil again fails to move markets worried over unemployment

(Newser) - Stocks finished the week with a mixed session today, managing to mostly recover from an early sell-off in reaction to a 5-year high in monthly unemployment, MarketWatch reports. The Dow rose 32.73 to close at 11,220.96. The Nasdaq fell 3.16 to 2,255.88, while the...