March 26, 2012 |
Despite the recent pickup in job gains, Federal Reserve Chairman Ben S. Bernanke offered a cautious assessment of the labor market and suggested that he would press the Fed to continue or expand the central bank's easy-money policies to ensure further improvements in the unemployment rate. In a speech Monday at an economics conference, Bernanke maintained that conditions in the job market remain "far from normal," with total hours of work and the number of people working still well below pre-recession levels.
December 14, 2009 |
The unemployment rate dropped last month for men and women, blacks and whites, lifting hopes that the long dry spell in the jobs market may be coming to an end. But for recent college graduates and other young adults, the labor situation didn't just remain dire -- it got worse. For 20- to 24-year-olds, the jobless rate rose four-tenths of a percent to 16% in November, even as unemployment nationally slipped to 10% from 10.2%. And data from the Labor Department show that the unemployment figure for college graduates in that age group was 10.6% in the third quarter -- the highest since early 1983 and more than double the rate for older college-educated workers.
June 29, 2010 |
A summer job is a traditional rite of passage for most teens, but this year that may be passing them by. Nationwide, teens are facing the most difficult summer hiring season in decades, experts say. The unemployment rate for 16- to 19-year-olds hovered at 26.4% last month — the highest May figure since the Bureau of Labor Statistics began tracking it in 1948 — as older workers continued snapping up jobs normally held by the...
May 3, 2012 |
Employee productivity took its biggest slide in a year, not because workers are slacking off but because businesses are boosting their head counts to keep up with demand. That's a good sign for the job market. It shows that bosses, who whittled their ranks during the lean years, are no longer able to squeeze as much output as they once were from their skimpy workforce. Despite frail GDP growth last quarter, demand for goods and services was strong (though it may be starting to slacken, depending on whom you ask )
August 6, 2010 |
The employment picture in the U.S. remained bleak last month as the nation's payrolls fell for a second straight month, with private-sector businesses adding a disappointingly scant number of new jobs. The jobless rate held steady at 9.5% in July, the government said Friday. The Labor Department said that private employers added just 71,000 new net jobs in July. Meanwhile, the federal government laid off 143,000 temporary census workers, and with budget-strapped local governments also cutting back, the total number of American jobs last month fell by 131,000 from June.
August 7, 2010 |
With the U.S. economy losing jobs for a second straight month in July, evidence is mounting that U.S. companies are spending huge sums on new equipment and taking other steps to make them more productive without hiring more workers. The nation's unemployment rate remained stuck at 9.5% last month, the government reported Friday, as the economy sustained a net loss of 131,000 jobs. What's more, revisions of the previous month revealed a much bigger job loss than originally reported: The nation lost 221,000 jobs in June, not 125,000.