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BUSINESS
January 24, 2013 | By Alana Semuels
During the bleakest days of the Great Depression, when Americans waited in bread lines and the nation's future looked grim, the unemployment rate peaked at about 25%. Spain has now topped that figure, one of the highest in the developed world, as unemployment in the European county reached 26.02% in the fourth quarter of 2012. There are 5.9 million people out of work in the country. Spain shed 363,000 jobs in the fourth quarter as the government implemented austerity measures to satisfy bond holders.
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WORLD
April 18, 2014 | By Sherif Tarek
Algeria's ailing President Abdelaziz Bouteflika secured a fourth five-year tenure Friday after amassing nearly 82% of votes, according to initial results announced by Interior Minister Tayeb Belaiz. The landslide victory in Thursday's election was widely foreseen, despite opposition from Islamists and leftist groups, and his poor health. Bouteflika, 77, is recovering from a stroke and made few public appearances. Ali Benflis, considered the strongest among five challengers to Bouteflika, came in second, with 12% of the vote, Belaiz said.
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OPINION
October 9, 2012
Re "Critics take jab at job figures," Business, Oct. 6 Whenever a news report gives President Obama a positive push, the cynics start their conspiracy dance. Shortly after the federal Bureau of Labor Statistics announced that the unemployment rate had fallen to 7.8%, former General Electric CEO Jack Welch tweeted, "Unbelievable jobs numbers … these Chicago guys will do anything … can't debate so change number. " MSNBC host Chris Mathews got Welch on his program and asked how he came to his conspiracy conclusion so quickly.
BUSINESS
April 18, 2014 | By Shan Li
California's employers added 11,800 jobs in March, a modest increase but one that nevertheless kept momentum going in the job market. The unemployment rate, meanwhile, held steady at 8.1% from the month-earlier revised figure, the state's Employment Development Department reported Friday. "We are zig-zagging on a monthly basis. One month is strong and the next is weak," said Esmael Adibi, an economist at Chapman University. "But based on what we see at the national level, we will get much stronger growth" this year.
BUSINESS
February 3, 2012 | By Don Lee
An unexpected burst of job growth last month helped drive down the nation's unemployment rate to its lowest level in three years, sparking a rally on Wall Street and raising hopes that the long-sluggish labor market is rapidly gaining momentum. Employers in the U.S. added 243,000 net new jobs in January -- about 100,000 more than what analysts were forecasting and the most in nine months. Job gains were broad-based, powered by robust increases in manufacturing and solid additions in professional and business services, such as accounting and engineering, and in the leisure and healthcare industries.
BUSINESS
May 31, 2013 | By Jim Puzzanghera
WASHINGTON - The unemployment rate in the Eurozone hit a record 12.2% last month as the region continues to battle a lengthy recession triggered by austerity measures and debt problems in some key nations. Joblessness has soared over the past two years as the 17-nation, single-currency region fell back into recession after the worldwide global slowdown that hit in 2008-2009. The unemployment rate reached a new record in April after two months at the previous high of 12.1%, Eurostat, the region's statistical office, said Friday.
BUSINESS
October 19, 2012 | By Marc Lifsher
SACRAMENTO -- California's unemployment rate fell to 10.2% in September from 10.6% in August, but just 8,500 net new jobs were created, according to the U.S. Department of Labor. The national unemployment rate in September was 7.8%, its lowest level in 3 1/2 years. But  the Golden State's unemployment fell significantly from August a year ago when the rate was 11.7%. A total of 262,000 net new jobs were posted for the past 12 months, according to a survey of businesses. California had the third-highest unemployment rate in the nation in September at 10.2%, behind Nevada at 11.8% and Rhode Island at 10.5%.
BUSINESS
December 12, 2012 | By Jim Puzzanghera
WASHINGTON -- Reflecting recent improvement in the jobs market, the Federal Reserve on Wednesday brightened its forecast for the unemployment rate while leaving its broader projections for economic growth and inflation little changed. In its quarterly outlook , the Fed said the unemployment rate would be 7.4% to 7.7% at the end of 2013, down from the September forecast of 7.6% to 7.9%. The rate still is not projected to drop below 7% until at least 2014, and would not hit 6.5% until at least 2015, largely the same as the September forecast.
NEWS
May 25, 2012 | By Robin Abcarian
It was kind of a buzz-kill moment. Earlier this month, at a town hall meeting in Township, Pa., Mitt Romney mentioned that the jobless rate had dropped a bit, from 8.2% to 8.1%. The audience started to applaud, but Romney stopped them. "Normally, that would be cause for celebration," said the former Massachusetts governor. "But anything near 8% or over 4% percent is not cause for celebration.... The reason the rate came down is because about 340,000 people dropped out of the workforce.
OPINION
April 10, 2014 | By The Times editorial board
How's this for irony: Having allowed federal unemployment benefits to run out in December, some lawmakers are balking at a bill to renew them retroactively because it might be hard to figure out who should receive them. Congress made this task far harder than it should have been, but the technical challenges aren't insurmountable. Lawmakers should restore the benefits now and leave them in place until the unemployment rate reaches a more reasonable level. Federal jobless benefits, which are provided only in times of high unemployment, kick in after people have exhausted their state benefits, which typically last for six months.
BUSINESS
April 4, 2014 | By Don Lee, This post has been corrected. See the note below for details.
WASHINGTON -- The U.S. economy added a fairly solid number of new jobs in March as employers reverted to their average pace of hiring after the unusually harsh winter weather. The Labor Department said Friday that the economy created a net 192,000 new jobs last month, just about as many as in February and the average for all of last year. Economists had forecast job growth of about 200,000 for last month. The nation's jobless rate held steady at 6.7% in March, but the broader measure of unemployment and underemployment, including part-time workers who want full-time jobs, edged up to 12.7%.
BUSINESS
March 21, 2014 | By Shan Li
California's economy perked up in February, adding 58,800 net new jobs and gaining some momentum after a lackluster showing the month before. The job gains helped push the unemployment rate down to 8% from 8.1% in January, the state's Employment Development Department reported Friday. "California employment is coming back very nicely after a bump in the month of January," said Sung Won Sohn, an economics professor at Cal State Channel Islands. "We are seeing more and more cylinders in the economic engine firing.
BUSINESS
March 21, 2014 | By Shan Li
California's economy added 58,800 net new jobs in February, gaining back some momentum after a lackluster showing the month before, the state's Employment Development Department reported Friday. The job gains helped push the unemployment rate down to 8% from 8.1% a month earlier, according to state employment data. The pickup in the job market was spread across nine industries, including financial activities, government, and leisure and hospitality. Educational and health services reported the biggest increase with 15,800 new positions.
BUSINESS
March 19, 2014 | By Jim Puzzanghera
WASHINGTON -- Federal Reserve policymakers voted Wednesday to continue reducing their bond-buying stimulus program and said they no longer would consider raising its near-zero interest rate once the unemployment rate fell below 6.5%. The Federal Open Market Committee voted 8-1 to cut its monthly bond purchases to $55 billion, staying on pace to end the controversial program by the end of the year. The economy grew slower this winter, but that was partly because of bad weather. Still, Fed officials downgraded their growth projections.
BUSINESS
March 19, 2014 | By Jim Puzzanghera
WASHINGTON -- Janet L. Yellen, who broke the Federal Reserve's glass ceiling, marks two more milestones Wednesday, wrapping up her initial policymaking meeting as chairwoman then facing reporters' questions for the first time since taking office last month. The Fed chair's quarterly news conferences have drawn great attention since her predecessor, Ben S. Bernanke, began holding them in 2011 to improve public understanding of the central bank's actions. Now Yellen takes over the tradition, which adds an additional challenge to the job as financial markets try to interpret every answer for signs of the Fed's direction.
BUSINESS
March 7, 2014 | By Ricardo Lopez
California appeared to go in the opposite direction of the national economy in January, shedding a net 31,600 jobs that month, the state's Employment Development Department reported Friday.  Despite the weak showing in employers' payrolls, the unemployment rate declined to 8.1% from 8.3% the month before, according to state employment data.  Large job losses were recorded in the trade, retail and transportation industries, which as a whole...
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