July 5, 2013 |
Back in mid-2009, when policymakers finally seemed to grasp how severe the recession was, economists at the Congressional Budget Office warned that it would take the country about six years to return to full employment. Almost four years have passed since the jobless rate peaked at 10%, and we're less than halfway back to the unemployment rates seen before the Wall Street meltdown. And that's despite the fact that the workforce has shrunk, thanks in part to retirements and more people going to school full time instead of looking for jobs.
June 20, 2013 |
California will report Friday how the labor market fared in May. Economists expect the California jobs report to show modest growth, but they will be watching a few key industries that will signal whether the recovery is still on track. The state unemployment rate stands at 9%, according to the Employment Development Department. Since the recovery began in February 2010, state payrolls have grown by about 757,000 net jobs, according to the latest government figures. Here are six things to expect from Friday's jobs report: 1. Economists predict that the state will have added between 17,000 and 20,000 net jobs in May -- that's if California nabs its share (roughly 10%)
June 13, 2013 |
One fifth of the gender pay gap can be attributed to many women still working in some of the lowest paying fields, a report finds. Fifty years after President John F. Kennedy signed the Equal Pay Act, the White House's National Equal Pay Task Force has taken a look at why women earn 77 cents for every dollar a man makes. The conclusion? The top professions among women haven't changed all that much over the last half century. Women are still more likely than men to work minimum-wage or low-pay service jobs.
June 7, 2013 |
NEW YORK -- Conventional wisdom said that good news in the jobs market would lead to bad news in the stock market Friday morning. Investors, seeing decent jobs data, would assume that the Federal Reserve would stop pumping money into the economy, and begin to sell off stocks, the theory went. But little is predictable on Wall Street, and instead, investors turned a decent jobs number into a good run in the stock market, as traders pushed the Dow Jones Industrial Average up more than 100 points in the first 30 minutes of trading.
May 4, 2013 |
WASHINGTON - So much for a spring swoon. The economy created more jobs than expected in April and the government boosted hiring figures for the previous two months, easing fears that the recovery was headed for a significant slowdown. The Labor Department reported Friday that 165,000 net new jobs were added last month and sharply upgraded the totals for February and March by a combined 114,000 positions. The news sparked a market rally as key indexes vaulted to record highs. The unemployment rate ticked down one-tenth of a percentage point to 7.5%, the lowest level since December 2008.
May 3, 2013 |
NEW YORK -- It's only a few days into May, but already investors have seen one surprise after another, as the Dow Jones industrial average passed 15,000 for the first time Friday on the strength of a better-than-expected jobs report. The S&P 500, a broader market index, pushed past 1,600 after hitting an all-time high on Thursday. Friday's jobs report showed employers adding 165,000 net new jobs in April, meaning that employers have added, on average, a respectable 212,000 jobs in the last three months.
April 23, 2013 |
People looking for a career may want to avoid some of the worst jobs around -- lumberjack, oil-rig operator and meter reader. Those are among the least promising professions, according to a new analysis. And you almost certainly should steer clear of the worst job on the list - newspaper reporter. Forget swashbuckling or intrepid. Endangered is more like it. Being an ink-stained wretch beat out 190 other careers for the distinction of being named the absolute worst. Being a reporter, according to the analysis, is even less promising than being an actor, which was named the fourth-worst profession.
April 6, 2013 |
Poor job growth and a large exodus of unemployed workers last month stifled weeks of upbeat economic data and marked a sobering reality check, signaling that hiring was likely to remain weak in the coming months. Employers added a paltry 88,000 net new jobs in March, the smallest number since June and just one-third of the gain in February. Retailers, manufacturers and finance companies shed jobs over the month, an indication that consumer spending may be softening as workers grapple with higher payroll taxes and sluggish wage growth.
April 6, 2013 |
NEW YORK - The government's disappointing jobs report disheartened investors about the pace of the global economic recovery, and short-circuited a rally that pushed stocks up more than 10% during the first three months of the year. Investors fled stocks Friday after the Labor Department reported that the U.S. added a mere 88,000 jobs in March. That number was well below the 190,000 jobs that analysts were expecting, and renewed fears that the labor market might be stalling. Wall Street had been growing more upbeat in recent weeks that the economy was steadily improving and sent major stock market indexes to record highs.