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BUSINESS
June 13, 2013 | By Jim Puzzanghera
WASHINGTON -- New jobless claims dropped more than expected last week, nearing a five-year low and continuing a downward trend this month that bodes well for the labor market. There were 334,000 people who applied for unemployment benefits for the first time in the week ending Saturday, down 12,000 from the previous week, the Labor Department reported Thursday. It was the second significant weekly drop. Analysts had expected claims to hold steady at 346,000 last week. QUIZ: How much do you know about the federal budget cuts?
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BUSINESS
April 9, 2014 | By Don Lee
WASHINGTON - An account of the Federal Reserve's last meeting suggests that policymakers aren't as eager to take away the punch bowl as the market thought. The minutes of the March 18-19 meeting state that Fed officials worried that their individual projections for when the central bank would start raising interest rates "could be misconstrued" as indicating a shift by the Fed committee to tighter monetary policy. The average projections released after the March meeting showed a slight move forward in the anticipated timing of a Fed rate increase, and Fed Chairwoman Janet L. Yellen herself gave the impression in a news conference that day that a rate hike could be made by mid-2015, earlier than what the market had been expecting.
BUSINESS
August 15, 2013 | By Shan Li
California will report on Friday how the labor market fared in July. Economists expect to see modest jumps in Golden State jobs for the month, but many are worried that the slowdown in job growth seen nationally in July could also be reflected in California. The state unemployment rate stands at 8.5%, according to the Employment Development Department. Since the recovery began in February 2010, California has added 803,400 net new jobs. Who works the longest? Jobs with the longest and shortest workdays Things to watch out for in the report: 1. The Labor Department reported that the U.S. in total added 162,000 new jobs last month.
BUSINESS
February 17, 2014 | By Don Lee
WASHINGTON - Brutal winter weather contributed to a downturn in job growth and other economic data, raising questions about the strength of the recovery and testing the Federal Reserve's resolve in unwinding its key bond-buying stimulus program. Fed policymakers will have another month of data to consider when they next meet in mid-March. But if the views of John C. Williams are any indication, the Fed is likely to hold course. As president of the Federal Reserve Bank of San Francisco, one of the Fed's 12 district banks, Williams has a seat at the mahogany table where top Fed officials meet regularly to discuss the economy and make policy decisions.
BUSINESS
May 7, 2012 | By Jim Puzzanghera
WASHINGTON -- Despite Friday's lackluster unemployment report, a labor market indicator was up slightly in April and points to better job growth in the coming months. The Conference Board's Employment Trends Index, which aggregates eight economic indicators, increased to 109.04 in April, up 0.8% from the previous month, the group said Monday. The uptick came after the index dipped in March for the first time since autumn. April's figure was up 7.1% from a year ago. The new reading on the labor market led Gad Levanon, the Conference Board's director of macroeconomic research, to predict that the pace of job growth should increase to about 150,000 to 175,000 a month through the summer.
BUSINESS
November 21, 2013 | By Don Lee
WASHINGTON -- The labor market looks like it is gaining some momentum. For the fourth time in five weeks, the number of workers filing new unemployment claims fell, to 323,000 for the week that ended Saturday, the Labor Department said Thursday. The drop, from 344,000 in the prior week, was larger than analysts' average forecast and brought the number to its lowest level since late September. The economy produced a surprisingly strong 204,000 jobs in October, and the downward trend in initial claims for jobless benefits suggests that the pickup in the job market carried into November.
BUSINESS
January 13, 2014 | By Jim Puzzanghera
WASHINGTON -- About 17% of workers expect to be laid off in the coming year, according to results of a newly launched consumer survey from the Federal Reserve. The figure for December was down from about 18% the previous month but up from about 15% in June, according to the initial results of the Survey of Consumer Expectations from the Federal Reserve Bank of New York. About 22% of consumers expect to voluntarily switch jobs in the year ahead, down slightly from November but up from about 19% in June, the survey reported.
CALIFORNIA | LOCAL
February 24, 1993 | ADELA de la TORRE, Adela de la Torre is chair of the department of Chicano and Latino studies at Cal State Long Beach.
The recent fanfare over the "illegal" hiring practices of attorney general candidates Zoe Baird and Kimba Wood strikes a sore point for American workers concerned with maintaining jobs and working conditions.
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