November 1, 2012 |
Stocks rose in early trading after two upbeat reports fueled optimism about the labor market, a day before the federal government releases October unemployment figures. The Dow Jones industrial average rose 77 points, or 0.6%, to 13,173 shortly after the opening bell, in the second day of trading following the market's two-day shutdown following Hurricane Sandy. The broader Standard & Poor's 500 index gained 6 points, or 0.4%, to 1,418. The Nasdaq rose 17 points, or 0.6%, to 2,994.
August 2, 2013 |
The U.S. economy added 162,000 jobs in July -- led by hiring in restaurants and retail stores. Economists had been projecting higher growth based on encouraging economic indicators showing that housing is rebounding quickly, consumer confidence is ticking up and initial jobless claims have fallen. Friday's jobs report released by the U.S. Bureau of Labor Statistics wasn't pretty, particularly since previous months' job gains were also revised downward. Here are five takeaways from the report: 1. The unemployment rate fell to 7.4% in July from 7.6% the month before.
March 9, 2012 |
President Obama seized on a new jobs report as evidence that "the economy is getting stronger," as he pitched a set of manufacturing initiatives in territory key to his reelection chances. "The key now, our job now, is to keep this economic engine churning," Obama said from the floor of a jet engine manufacturing plant in Petersburg, Va. "We can't go back to the same policies that got us into this mess. " Obama's trip, deemed official and not campaign business, came hours after the Labor Department announced that the economy had added 227,000 jobs in February, a stronger showing than economists expected but not enough to move the 8.3% unemployment rate.
September 7, 2012 |
ABOARD THE ROMNEY PLANE -- Mitt Romney placed the blame for Friday's weak jobs report squarely on President Obama, charging that his Democratic rival for the White House "hasn't lived up to his promises and his policies haven't worked. " "If last night was the party, this morning is the hangover," Romney said in a statement that was released as the candidate flew from New Hampshire to Iowa for a rally on Friday morning. "For every net new job created, nearly four Americans gave up looking for work entirely.
June 1, 2012 |
WASHINGTON -- The sliding jobs picture provoked an intense round of finger-pointing on Capitol Hill, where Republicans and Democrats blamed each other for failing to cross the aisle to support policies they say would spur economic growth. Friday's unemployment rate spike, to 8.2% for May, saddles lawmakers with one of the worst economic outlooks in decades as they head into the fall election, giving new urgency to the summer debate over the divergent economic approaches that will define President Obama and his GOP challenger, Mitt Romney, and their parties in November.