unemployment

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2 Words on Jobs Report: 'Huge Disappointment'

August numbers come in far below expectations

(Newser) - The new jobs report is in for August, and lackluster might be one word to describe it. "Huge disappointment" ( CNBC ) and "surprisingly weak" (the AP ) are others. The key numbers:
  • New jobs: Employers added 235,000 jobs for the month, but that is far below
...

Job Numbers Are Strong, but There's an Asterisk

Numbers may not reflect fast-moving impact of delta variant

(Newser) - The new monthly jobs report is out, and the numbers are stronger than expected for July. But the delta variant is throwing a wrench into assessments. Details:
  • Employers added 943,000 jobs for the month, ahead of consensus estimates of 845,000, reports CNBC .
  • The unemployment rate dropped more than
...

Scope of Unemployment Fraud in Pandemic Is Staggering

Axios reports that half of benefits, totaling hundreds of billions of dollars, might have been stolen

(Newser) - Stories about rampant fraud related to unemployment benefits paid out during the pandemic have been percolating for a while. The AP reported in March that states were being overwhelmed by bogus claims. Earlier this week, WBTW noted that the FTC has logged 400,000 complaints so far from people who...

Hiring Rebounds in May but Falls Short of Expectations

Employers added 559K jobs, double the figure from April

(Newser) - Last month's unemployment report was a bust . The new one for May is twice as strong, though still shy of expectations. The Labor Department reported Friday that employers added 559,000 jobs last month, below expectations of about 670,000, reports CNBC . The unemployment rate, meanwhile, fell to 5....

If Markets End Losing Streak, This Report Is Why

Weekly jobless claims fall to a pandemic low

(Newser) - The number of Americans seeking unemployment aid fell last week to 444,000, a new pandemic low and a sign that the job market keeps strengthening as consumers spend freely again, viral infections drop, and business restrictions ease, per the AP . Major US stock indexes rose after the report came...

Jobs Report Reignites Debate Over Unemployment Benefits
Jobless Benefits Too
Generous? Debate Is Reignited
the rundown
May 7, 2021 1:16 PM CDT

Jobless Benefits Too Generous? Debate Is Reignited

Critics say Biden's relief package encourages people to stay home; not so, say defenders

(Newser) - The new monthly jobs report came in way below expectations on Friday, with employers hiring 266,000 people in April instead of the 1 million or so expected by analysts. The report has reignited a familiar political debate amid the pandemic, with those on the right arguing that President Biden'...

Jobs Report Misses Expectations by a Mile
Jobs Report Misses
Expectations by a Mile
UPDATED
May 7, 2021 8:33 AM CDT

Jobs Report Misses Expectations by a Mile

Employers added 266K jobs, well under predictions of about 1M

(Newser) - The new unemployment report for April is out, and the takeaway number didn't come close to meeting expectations. Details:
  • The number: Employers added 266,000 jobs in the month, even though analysts had expected roughly 1 million, reports CNBC . The outlet characterizes the figure as a "huge letdown.
...

Hiring Booms as Jobs Report Exceeds Expectations

Employers added more than 900K jobs in March as unemployment falls to 6%

(Newser) - Analysts expected a strong jobs report, and the Labor Department delivered. Employers went on a hiring binge in March, and they're expected to continue for the near future. The highlights:
  • A big number: Employers added 916,000 jobs last month, reports the AP , well above expectations of about 675,
...

A Big Sign That the US Economy Is on the Upswing

684K filed for unemployment benefits last week in the US, the lowest number since pandemic began

(Newser) - The number of people seeking unemployment benefits fell sharply last week to 684,000, the fewest since the pandemic erupted a year ago and a sign that the economy is improving. Thursday's report from the Labor Department showed that jobless claims fell from 781,000 the week before. It'...

Bars, Restaurants Give a Jolt to February Hiring

Employers overall added 379K jobs, and unemployment fell to 6.2%

(Newser) - The new unemployment report is out, and the numbers are stronger than expected. The highlights:
  • New jobs: Employers added 379,000 jobs in February, above expectations of 210,000, reports the Wall Street Journal . The figure is well above the 49,000 jobs gained in January.
  • The rate: The unemployment
...

This State Wants Its Money Back After Overpaying Unemployed

Missouri says it sent out $150M in overpayments last year, but recipients say they can't pay it back

(Newser) - A recent letter in the mail to St. Louis salesman Mike Conners demanding he pay back the state of Missouri more than $7,500 in unemployment benefits caught him by surprise. But as FOX 2 reports, his letter was no anomaly: The state now says it paid out $150 million...

Hiring Rights Itself After a One-Month Dip

Employers added 49K jobs in January

(Newser) - The new jobs report is out, and the big number is back in positive territory. Employers added a modest 49,000 jobs in January, though that was in line with expectations of 50,000, reports CNBC . The increase may be "tepid," as the AP describes it, but it...

Calif.: Criminals Raided Unemployment Funds to Tune of $11.4B

State's labor secretary says hackers, other criminals may have stolen an additional $20B

(Newser) - From March of last year to the middle of January, California paid out some $114 billion in unemployment benefits. Now, the state's labor secretary, Julie Su, has some alarming news on about $11.4 billion, or 10%, of that figure—those payments were fraudulent, stolen by hackers, identity thieves,...

7 Months of Job Growth Just Ended
7 Months of
Job Growth
Just Ended
Jan 8, 2021 7:58 AM CST

7 Months of Job Growth Just Ended

Economy sheds 140K jobs in December

(Newser) - The relentless virus finally overtook new hiring. Employers shed 140,000 jobs in the US in December, reversing a trend of seven months of job growth, reports the Wall Street Journal . The unemployment rate stayed at 6.7%, which the AP notes is the first time it has not declined...

New Jobless Claims Still at 4 Times Normal

But they're down by 19K from last week

(Newser) - The number of Americans seeking unemployment benefits fell by 19,000 last week but remained elevated at 787,000 as a resurgent coronavirus gripped the US economy. While at the lowest level in four weeks, the new figures released Thursday by the Labor Department are nearly four times higher than...

'Several People Broke Down Crying in Phone Interviews'

'Washington Post' interviews those on brink of losing jobless aid or their businesses

(Newser) - It's a rough read for Christmas Day. But the Washington Post interviews 10 people pushed to the financial brink because of the pandemic who can't understand why Congress and the White House haven't been able to agree on a relief package. "Several people broke down crying...

New Jobless Claims Are, 'in Absolute Terms, Bad News'

They remain elevated at 803K

(Newser) - The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the US economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the...

Unemployment Claims Head in Wrong Direction

Weekly figure jumps to 853K, highest since September

(Newser) - The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher, per the AP . The Labor Department said Thursday that the number of applications increased from 716,000 the previous...

Jobs Number Comes In Much Worse Than Expected

Employers added 245K jobs, a big dropoff

(Newser) - The new unemployment report is out, and it has a figure that in normal times would be strong: Employers added 245,000 new jobs in November. Meanwhile, the unemployment rate dropped from 6.9% to 6.7%. But in the context of the surging pandemic, the stat about new jobs...

GAO: Weekly Unemployment Numbers Flawed

Government watchdog finds Labor Department has been providing an inaccurate reading

(Newser) - A government watchdog has found that the Labor Department’s widely watched weekly unemployment benefits data are providing an inaccurate reading on the number of newly laid off workers because of flaws in the government’s data collection. The Government Accountability Office said in a report Monday that the Labor...

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