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BUSINESS
March 13, 2014 | By Jim Puzzanghera
WASHINGTON -- Initial jobless claims unexpectedly fell last week to 315,000, the lowest level since November, as the labor market showed signs of emerging from a winter chill. The number of first-time claims for unemployment benefits was down from 324,000 the previous week, the Labor Department said. Economists had projected claims to increase to 330,000. The four-week average fell by 6,250 last week to 330,500. PHOTOS: Federal Reserve chairs through the years Claims have been volatile this winter since falling to near a six-year low in late November as severe weather has forced some businesses to temporarily close.
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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.
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.
BUSINESS
July 18, 2013 | By Shan Li and Ricardo Lopez
California continued its economic recovery in June as its unemployment rate slid to 8.5%, the lowest it has been in nearly five years. Employers' payrolls grew by 30,200 jobs, helping push down the jobless rate from 8.6% in May, according to data released Thursday by the state's Employment Development Department. The Golden State has outpaced the overall U.S. in job creation over much of the last year, and its turnaround has been swift. Since June 2012, the state's nonfarm employment has grown 1.8%, adding nearly 254,000 jobs.
BUSINESS
June 19, 2013 | By Jim Puzzanghera
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.
BUSINESS
May 23, 2013 | By Jim Puzzanghera
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.
BUSINESS
August 2, 2013 | By Jim Puzzanghera
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.
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