unemployment

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Asian Stock Markets Dive
Asian Stock Markets Dive
Mar 7, 2008 6:07 AM CST

Asian Stock Markets Dive

US credit crisis has investors in Asian markets hedging their bets

(Newser) - Japan’s Nikkei fell 3.3% and Australia’s S&P/ASX2000 dropped 3.2% as woeful US economic news—including rising foreclosures, worsening homeowner debt and impending credit defaults—sent Asian markets reeling, the Associated Press reports. Investors also worried that a key jobs report to be released this morning...

Stocks Tumble on Weak Data
Stocks Tumble on Weak Data
MARKETS
Feb 28, 2008 3:56 PM CST

Stocks Tumble on Weak Data

Dow drops 112 points on sluggish growth, rising jobless claims

(Newser) - Stocks fell more than they had in a week today amid reports of sluggish economic growth, rising jobless claims, and fears of failing banks, Bloomberg reports. The Dow fell 112.10 points to 12,582.18, the Nasdaq fell 22.21 points to 2,331.57, and the S&P...

Fed Sees Slower Growth, Higher Unemployment

Reserve officials sharply reduce economic forecast

(Newser) - The Federal Reserve issued a bleak assessment of the economy today, predicting weak growth and rising unemployment this year. Fed officials expect the economy to grow between 1.3% and 2% in 2008, the slowest in five years, the New York Times reports. A separate report today showed consumer prices...

As US Job Growth Stalls, an Era Ends

Employment stats point to sea change in once-certain growth patterns

(Newser) - Workers who’ve lost a job are having a tougher time finding a new one as the economy contracts, marking an end to more than a decade and a half of rapid, sometimes phenomenal, US job growth, writes Business Week’s Peter Coy. The loss of 17,000 jobs in...

Looking for a Real Recession? Try Japan

Once-booming economy stumbles, yet people are 'indifferent'

(Newser) - While economists squabble over a possible US recession, Japan has quietly slipped into one. The country’s postwar riches have all but vanished, the Washington Post reports, as its GDP tumbles from fourth to twentieth among the world’s countries and its share of the world’s economy dips from...

US to You: $600 Check's in Mail
US to You: $600 Check's in Mail
UPDATED
Jan 24, 2008 10:39 AM CST

US to You: $600 Check's in Mail

Bipartisan compromise would put $600 in your pocket

(Newser) - Congress today announced an economic stimulus package that would put a $600 check in every American taxpayer's mailbox by early summer, sources tell CNN, and a likely $300 per child. The refunds are "there to strengthen the middle class, to create jobs and to turn this economy around,"...

Needing Win, Romney Attacks McCain in Mich.

Home state victory crucial for hopeful after Iowa, NH finishes

(Newser) - After huge cash infusions won him second place in Iowa and New Hampshire, Mitt Romney is seizing on hopes for economic—and campaign—rejuvenation in his home state of Michigan, the Chicago Tribune reports. In a GM plant where 200 workers were just laid off, Romney attacked policies today that...

Goldman Predicts Recession
Goldman Predicts Recession
Jan 10, 2008 12:31 PM CST

Goldman Predicts Recession

Wall Street's top firm sees two unhappy quarters ahead

(Newser) - Goldman Sachs is predicting that the economy will slide into a recession this year—which has Wall Street worried, because Goldman’s been right about everything else. The investment firm forecasts a mild pullback extending over two quarters, driving up already-growing unemployment. “If we don't get job growth we...

Bad Jobs Data Trigger Freefall
Bad Jobs Data Trigger Freefall
MARKETS
Jan 4, 2008 3:37 PM CST

Bad Jobs Data Trigger Freefall

Dow off 256.54, zooms past 13K on sluggish growth report

(Newser) - The worst employment-growth report since August 2003 sent the markets into a nosedive today, with the Dow ending the day off 256.54 to 12,800.18. Only 18,000 non-farm jobs were added in December, the Wall Street Journal reports, and the unemployment rate rose to 5.0%, its...

Unemployment Rises, May Spur Rate Cut

Weak jobs data makes Fed action likely

(Newser) - The labor market took a hit in December, with the jobless rate hitting a two-year high and payroll increases falling well short of predictions. Nonfarm payrolls rose just 18,000, much less than both November’s 115,000 and the 50,000 prognosticators expected. The gloomy numbers increase the odds...

Durable Goods Numbers Disappoint; Businesses Fret

It's a sign that - say it with me now - housing woes could be spreading

(Newser) - Durable good sales rose just 0.1% in November, a lower-than-expected bump after October’s 0.4% drop, Bloomberg reports. Analysts had forecast a 3% rise. Take out transportation, including stellar airline sales, and sales fell 0.7%.  It’s another sign the economy is slowing down and businesses...

Oil Slips Under $88 as US Economy Fuels Concern

Dropping prices come as Fed set to meet Tuesday

(Newser) - Weaker than anticipated US job growth reported Friday helped extend a decline in crude oil prices today, with futures dipping below $88 on Asian markets, reports the AP. Fears of a slowing economy and reduced demand are driving the decline. Investors had bet better employment figures would prompt the Fed...

Stocks Even to Close Week
Stocks Even to Close Week
MARKETS
Dec 7, 2007 3:50 PM CST

Stocks Even to Close Week

Mixed data, Fed anticipation stall markets

(Newser) - The markets ended mostly even today as mixed data and anticipation of next week’s Fed meeting kept investors cautious. Given the suspense over a potential rate cut, “who is going to make a big bet now?” asked one strategist. The Dow closed up 5.69 at 13,625....

WH Pares 2008 Economic Forecast, Hikes Jobless Rate

Housing decline 'more significant' than thought

(Newser) - The White House cut back its expectations for 2008 economic growth today and said unemployment rates are likely to worsen, citing the housing slump. GDP will grow only by 2.7% next year, down from an earlier 3.1%, said officials from Treasury and the Council of Economic Advisers; and...

Consumer Confidence Plummets
Consumer Confidence Plummets
Nov 27, 2007 11:27 AM CST

Consumer Confidence Plummets

Job concerns push index to post-Katrina low

(Newser) - Consumers were a gloomy group in November, when housing and job woes drove the consumer confidence index down to a level not seen since October 2005, when Hurricane Katrina’s aftermath loomed large. “This is a strong indication that consumer spending growth is going to slow sharply,” one...

Subprime Woes Hit New York Law Firms
Subprime Woes Hit New York Law Firms
Nov 21, 2007 10:52 AM CST

Subprime Woes Hit New York Law Firms

For the first time since 2001, lawyers are being let go

(Newser) - The continuing mortgage crisis and tightening credit markets are claiming a new batch of victims: Lawyers. Layoffs at Clifford Chance, the world's highest-grossing law firm, have started, Bloomberg reports, and up to 5% of salaried associated at New York law firms may get the ax as work on mergers, acquisitions...

Twice as Many South Africans Now Subsisting on $1 a Day

Poverty skyrockets in land of HIV and no jobs

(Newser) - The number of South Africans living on less than $1 a day has more than doubled in a decade since shortly after the end of apartheid, reports the BBC. Some 4.2 million people managed to eke out a living on a daily buck in 2005, according to a report...

Jobs Get Surprise October Bump
Jobs Get Surprise October Bump
Nov 2, 2007 10:25 AM CDT

Jobs Get Surprise October Bump

Good news is new reason for Fed to hold interest rates

(Newser) - Job growth in October was unexpectedly robust, with the addition of 166,000 jobs doubling projections and easing recession fears. Analysts had predicted an increase of only 85,000 jobs; one economist said the surprise figure “will increase the Fed's conviction that it should keep rates unchanged” for months...

10 Jobs Not Long for This World
10 Jobs Not Long for This World
Oct 23, 2007 9:54 AM CDT

10 Jobs Not Long for This World

Failing industries, new technology and outsourcing are killing these careers

(Newser) - Getting a job is hard enough—you don't want one that won't be around in five or 10 years. Forbes pulls out its crystal ball to see which jobs are not long for this world:
  1. News analysts, reporters, and correspondents
  2. Economists
  3. Radio announcers
  4. Travel agents

Surfers Riding Welfare Wave
Surfers Riding Welfare Wave
Sep 23, 2007 11:10 AM CDT

Surfers Riding Welfare Wave

Aussie pols crack down on the unemployed

(Newser) - Getting surfers off the beach and into the job market is a top priority for Australia's  conservative government. The country is enjoying its lowest unemployment rate in years, just above 4%, but it seems a disproportionate number of those receiving welfare benefits live in sunny coastal areas with more opportunities...

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