July 3, 2012 |
Signaling an improved labor market, remittances to Mexico rose in May, its highest level since October 2008, Mexico's Central Bank reported this week. Remittances, or money wired abroad by immigrants, totaled $2.34 billion in May, up 7.8% from the previous May. And the average amount per transaction, $329.21, was up in May by 3.7% from a year before. Remittance experts said May is a particularly busy month for wire transfer operators, as many Mexicans living abroad send money forMother's Day. Money wired abroad by immigrants is often seen as a barometer of the economy.
August 2, 2013 |
WASHINGTON -- A top Federal Reserve official indicated Friday that he was not prepared to start reducing the central bank's bond-buying stimulus program soon, saying policymakers needed to see more economic data before making a decision. The comments from James Bullard, president of the Federal Reserve Bank of St. Louis, came as the government reported that job growth weakened in July. The economy added 162,000 net new jobs, down from June's revised 188,000 figure and below analyst expectations.
June 19, 2013 |
WASHINGTON -- Federal Reserve policymakers said Wednesday that they would continue the central bank's controversial bond-buying stimulus program and leave short-term interest rates near zero to help boost the economic recovery, which they said was facing fewer downside risks. Members of the Federal Open Market Committee said they were seeing some improvement in the recovery and slightly upgraded their forecast for the labor market. In Wednesday's statement , Fed policymakers said it saw "the downside risks to the outlook for the economy and labor market as having diminished since the fall.
July 18, 2013 |
WASHINGTON -- Initial jobless claims dropped sharply last week to 334,000, close to a five-year low, the Labor Department said Thursday. The number of people filing for first-time unemployment benefits was down 24,000 from the previous week's revised figure of 358,000. Analysts had expected a reading of 345,000. The closely watched barometer of the labor market has been on a downward trend this year, reflecting a strengthening labor market. But the figures, although they are seasonally adjusted, have been volatile in recent weeks as auto factories begin their annual summer shutdowns for retooling.
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%)
August 6, 2013 |
WASHINGTON -- The July employment report last week showed that the labor market remains far from robust, but the weakness isn't just in the moderate number of new jobs being added by employers. Many analysts already have noted that many of the 162,000 jobs created in July were in low-paying retail and restaurant work. It also matters how much of the net payroll gain came from an increase in new hires versus a reduction in the departure of existing workers. Every month, a few million workers separate from their employers while several million others are brought on. It's the difference between these two that produces the monthly net job gain or loss.
CALIFORNIA | LOCAL
February 24, 1993 |
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.
September 6, 2013 |
WASHINGTON -- The top-line number in the August jobs report was roughly in line with expectations, but economists digging into the details Friday saw bad signs that could give Federal Reserve policymakers concerns about reducing their stimulus efforts this month. "The dirt is in the details, and these are very dirty details," said Diane Swonk, chief economist at Mesirow Financial. "It's going to muddy the debate about what the Fed does. " The 169,000 net new jobs added to the economy in August was near the consensus estimate of 175,000.
May 23, 2013 |
WASHINGTON -- Initial unemployment claims dropped back to a level indicating moderate job growth last week after a spike the previous week raised alarms about the labor market recovery. The number of people filing for unemployment benefits for the first time stood at 340,000 for the week ending Saturday, falling from a revised 363,000 the week before, the Labor Department said Thursday. Economists had expected the closely watched jobless claims figure to drop last week to 345,0000.