February 3, 2012 |
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.
May 31, 2013 |
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.
October 19, 2012 |
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%.
May 25, 2012 |
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.
December 12, 2012 |
WASHINGTON -- Despite the moderate pace of recovery, the Federal Reserve is so worried about the stubbornly high level of unemployment that it promised to extend its unprecedented stimulus steps until there is "substantial improvement," Fed Chairman Ben S. Bernanke said. "The conditions now prevailing in the job market represent an enormous waste of human and economic potential," Bernanke told reporters Wednesday. The new goal for the Fed is to get the jobless rate down to 6.5%, the first time it has tied interest rates to a specific unemployment target.
December 12, 2012 |
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.