December 7, 2001 |
The number of U.S. workers filing new claims for state unemployment benefits fell for the fifth week in the last six, and business equipment orders rose in October for the first time since January, signs the economy is digging its way out of recession. Initial jobless claims fell to 475,000 in the week ended Saturday from 493,000 the prior week, the Labor Department said. Claims have fallen since surging to a nine-year high in the last week of September, when terrorist attacks led to job cuts.
November 26, 2001 |
Jerome King is up by 5 a.m. at his mother's apartment in Watts. He was raised there and recently moved back in after he lost his job. He listens to some jazz and meditates to shake the stress. Then he slips out of his football jersey into black dress slacks and a pressed checkered shirt and packs his leather briefcase with resumes. The former Army infantryman is out the door by 9 a.m., stopping to talk a little hope into his neighbor, an ex-felon who can't seem to land a solid job.
October 23, 2001 |
With layoffs mounting and spreading to every industry, the nation's economy has quickly gone from full employment to one where laid-off tech workers and stockbrokers are competing with out-of-work bellhops for low-wage jobs. The shift, accelerated by the terrorist attacks, has been so swift in some places that employers who only months ago were raiding rivals for workers and offering them bonuses now are being inundated with applications. Turnover has fallen sharply.
October 12, 2001 |
New claims for unemployment benefits declined sharply last week but still remained at a high level, reflecting fallout from the ailing economy and last month's terrorist attacks. The closely watched four-week moving average of jobless claims hit a level unseen in a decade, the Labor Department report showed.
October 6, 2001 |
American employers cut more jobs in September than during any month in more than a decade, and that was based on surveys taken before the terrorist attacks on the World Trade Center and the Pentagon, the Labor Department said Friday. Businesses reduced payrolls by 199,000, or nearly twice the consensus forecast of private economists. The reductions, coming atop a loss of 84,000 jobs in August, represented the largest monthly job decline since February 1991, in the midst of the last recession.
October 5, 2001 |
Fallout from the terror attacks is rippling through the economy, catapulting new claims for unemployment benefits to a nine-year high. Layoffs mounted for workers in travel and tourism last week, and economists believe the jobless picture will get worse in coming months. Even before the attacks, the nation's unemployment rate had risen to 4.9% in August from 4.5%, the biggest one-month jump in more than six years as businesses eliminated 113,000 jobs.