October 12, 2010 |
A trio of economics scholars, including an MIT professor whose nomination to the Federal Reserve board has been held up in the Senate, won the Nobel Memorial Prize in Economic Sciences for helping to explain such phenomena as high unemployment at a time when jobs are available. Peter A. Diamond of MIT; Dale T. Mortensen, a Northwestern University economics professor; and Christopher A. Pissarides, a British and Cypriot citizen and professor at the London School of Economics, will share the $1.5-million award.
July 8, 2011 |
U.S. employment growth ground to a halt in June, with employers hiring the lowest number of workers in nine months, dampening hopes the economy was on the cusp of regaining momentum after stumbling in recent months. Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists' expectations for a 90,000 rise. Many economists raised their forecasts Thursday after a stronger-than-expected reading on U.S. private hiring from payrolls processor ADP, and they expected gains of anywhere between 125,000 and 175,000.
January 7, 2012 |
Even though the labor market is improving, thousands of unemployed Californians are caught in a bind: Some employers only want to hire them if they already have a job. Some companies state that plainly in employment ads. Others are more discreet, screening out jobless workers during the initial application process. Discrimination? Perhaps. But so far it's legal. But it won't be if a bill introduced this week by Assemblyman Michael Allen (D-Santa Rosa) is approved by California lawmakers.
November 21, 2009 |
California employers added workers to their payrolls in October for the first time in more than a year, but the state's unemployment rate ticked higher as more job seekers entered the labor pool amid hopes that companies are finally hiring again. The state gained 25,700 jobs last month, marking the first time it has added workers since April 2008. Government, financial activities, education and health were among the sectors posting gains, probably with the help of the massive federal stimulus package, analysts say. But the jobless rate continued to inch up, as the positions added couldn't keep up with the expansion of the labor force.
December 12, 2002
On the facts, your Dec. 7 editorial, "Lump of Coal for the Jobless," turned out to be, well, lumpy. I did not "spearhead the charge against extending benefits," as you claim. I authored legislation the House unanimously approved Nov. 14, extending benefits for the long-term unemployed. This bill would have continued for five weeks the temporary extended unemployment benefits provided since March 2002. Already this year more than 3 million unemployed workers have qualified. The House bill would have helped 800,000 in every state, not just in "only a few states with the highest unemployment," as you suggested.
July 27, 2003 |
With unemployment levels at a four-year high, the government on Saturday urged Mexicans to create their own jobs, even if that means just making tacos or baking cakes at home. Economy Minister Fernando Canales said in a national radio address that the government would use federal funds to help people who came up with good ideas for jobs. "Simple ones are no less important: Set up a taco stall, a hairdressers' salon, bake cakes at home ... products that give you added value," Canales said.
August 18, 1998 |
The number of Hong Kong workers without jobs probably doubled from January to July, as the city's economy tumbled into its worst recession in a generation, economists said. They warn the territory's July unemployment rate will rise to about 5%--from 4.5% in June--as falling retail sales, fewer tourists and a shrinking financial industry mean less work in the service industries that employ more than 80% of workers.
December 9, 2000 |
The U.S. economy produced fewer new jobs than expected in November, nudging up the unemployment rate to 4% from a 30-year low, the government reported Friday. The tenth-of-a-point rise in unemployment, together with a smaller-than-expected, 94,000-job bump in payrolls, included few of the signs of abrupt slowdown contained in other recent snapshots of the economy.
November 2, 2002 |
The nation's unemployment rate edged up to 5.7% in October and employers shaved payrolls by 5,000, suggesting an economy that still is struggling more than a year after it began growing again. The payroll decline was the second in two months, the Labor Department said Friday. Employers cut 13,000 jobs in September. The new numbers suggest that Americans are in for another painfully slow and uneven comeback like that of the "jobless recovery" of the early 1990s.