February 7, 2014 |
NEW YORK -- Stocks rallied about 1% despite the U.S. Labor Department's report showing weaker-than-expected employment growth last month. Investors appeared to look on the brighter side of the federal government's closely watched barometer of the labor market even though it fell far below estimates for the second consecutive month. The federal government said Friday that the U.S. economy added a disappointing 113,000 net jobs last month. But that was still more than the 74,000 jobs gained in December.
February 7, 2014 |
WASHINGTON - Back-to-back months of sluggish hiring suggest the economic recovery may have lost some momentum and could give the Federal Reserve second thoughts about continuing to throttle back a key stimulus program. Employers added a modest 113,000 jobs in January after boosting payrolls by just 75,000 in December, the Labor Department said Friday. The two-month average was about half of last year's monthly pace of job growth and far below analysts' expectations. Although analysts blamed the weak December hiring largely on frigid weather, there was little evidence the cold contributed to January's numbers.
January 10, 2014 |
WASHINGTON -- Friday's weak jobs report could provide momentum in Congress for extending unemployment insurance, despite the continued objections of most Republicans who believe that government intervention distorts the market and provides a disincentive to work. Democratic leaders seized on the disappointing jobs numbers as the Senate prepares to try again on Monday to advance legislation that would provide unemployment aid to more than 1.3 million out-of-work Americans whose benefits have run out. A handful of Republicans are needed to push the stalled bill forward, and senators from economically hard-hit states, particularly in the Midwest and Northeast, may be especially sensitive to Friday's showing.
January 9, 2014 |
Former USC Coach Lane Kiffin spent a week last month observing Alabama's program. Now, with Alabama offensive coordinator Doug Nussmeier taking a similar position at Michigan, Kiffin is in consideration to replace him with the Crimson Tide, according to several reports . Kiffin and Alabama Coach Nick Saban are friends and share the same agent, Jimmy Sexton. USC Athletic Director Pat Haden fired Kiffin on Sept. 29, after the Trojans returned to Los Angeles from a loss at Arizona State.
December 20, 2013 |
California employers added a net 44,300 jobs in November, posting strong job growth toward the end of the year, according to data from the state's Employment Development Department. The surge in hiring was largely in retail trade, part of the typical hiring uptick during the busy holiday shopping season. Construction and manufacturing both posted healthy job gains, both for the month and over the last year. California's unemployment rate also declined slightly to 8.5% in November, down from 8.7% the month before, state data show.
December 6, 2013 |
NEW YORK -- The Dow Jones industrial average surged nearly 200 points Friday after the U.S. Labor Department reported the economy gained 203,000 new jobs in November, beating expectations. The Dow added 198.69 points, or 1.3%, closing at 16,020.20. The broader Standard & Poor's 500 index gained 20.06, or 1.1%, to 1,805.09. The tech-focused Nasdaq composite index rose 29.36, or 0.7%, to 4,062.52. Investors brushed aside worry that an improving labor market might push the Federal Reserve to ease off its monetary stimulus sooner rather than later.