March 26, 2009

U.S. Jobless Rolls Increase to Record 5.56 Million

Filed under: FYI,unemployment,US — DF @ 1:06 pm
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According to DOL, Bloomberg: “The number of people collecting U.S. jobless benefits rose to a record 5.56 million, indicating more Americans are spending longer periods out of work. Initial claims topped 600,000 for an eighth straight time.

Total benefit rolls jumped by 122,000 in the week ended March 14, from 5.44 million the previous week, the Labor Department said today in Washington. Initial jobless applications last week rose 8,000 to 652,000, in line with forecasts.”

March 12, 2009

U.S. Initial Jobless Claims Rose to 654,000 Last Week

Filed under: FYI,unemployment,US — DF @ 10:08 am
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According to Bloomberg: “First-time claims for U.S. unemployment benefits rose last week, holding above 600,000 for a sixth straight time, as companies kept cutting payrolls to reduce costs amid a worsening recession.

Initial jobless applications increased by 9,000 to 654,000 in the week that ended March 7, more than anticipated, from a revised 645,000 the prior week, the Labor Department said today in Washington. “

March 11, 2009

Oregon, Carolinas Led Increase in U.S. Unemployment

According to Bloomberg: “Unemployment climbed in 49 U.S. states in January, showing no region has escaped the worsening recession. The jobless rate jumped by at least one percentage point in 23 states from December to January, led by a surge of 1.6 points in North Carolina, Oregon and South Carolina, the Labor Department said today in Washington. Michigan, where the rate jumped by 1.4 points, had the nation’s highest at 11.6 percent. “

March 5, 2009

Jobless Claims Exceed 600,000 Again

Filed under: FYI,unemployment,US — DF @ 5:47 pm

According to Department of Labor, Bloomberg: “More than 600,000 Americans filed claims for jobless benefits for a fifth straight week, the worst performance since 1982, pointing to a deteriorating job market that may deepen the spending slump.

The Labor Department today reported 639,000 first-time unemployment applications, the fifth straight week above 600,000. The agency also said worker productivity, a measure of employee output per hour, fell at a 0.4 percent annual rate in the fourth quarter of 2008.”

March 4, 2009

U.S. private sector bleeds jobs, services slump deepens

Filed under: FYI,Services,unemployment,US — DF @ 12:08 pm
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According to Reuters: “U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.

The private sector cut 697,000 jobs compared with 614,000 in January, according to an ADP Employer Services report that suggested hefty employment declines are on the way in the government’s more comprehensive payrolls data on Friday.”

February 26, 2009

U.S. Initial Jobless Claims Rose to 667,000 Last Week

First-time claims for U.S. unemployment benefits unexpectedly rose last week and total benefit rolls soared to a record high, a sign companies may keep shedding jobs as the recession worsens.

First-time unemployment applications increased by 36,000 to 667,000, the highest since 1982, in the week that ended on Feb. 21 from a revised 631,000 the prior week, the Labor Department said today in Washington. The number of people staying on benefit rolls rose in the previous week by 114,000 to 5.112 million.

Source: Bloomberg

February 6, 2009

Economy Shed 598,000 Jobs in January

The United States lost 598,000 jobs in January and the unemployment rate rose to 7.6 percent, its highest level in more than 16 years, the Labor Department said Friday.

In addition, the government revised the estimates for previous months to include another 400,000 job losses. For December, the government revised the job loss to 577,000 compared with an initial reading of 524,000. Overall, it said, the nation has lost 3.6 million jobs since it slipped into a recession in December 2007.

Source: NY Times

February 4, 2009

U.S. Companies cut 522,000 in January

According to Bloomberg: “Companies in the U.S. cut an estimated 522,000 jobs in January as the economy weakened at the start of the year, a private report based on payroll data showed today.

The drop in the ADP Employer Services gauge was less than economists forecast and followed a revised cut of 659,000 for the prior month”

January 29, 2009

Jobless claims hit record peak, orders plummet

According to Reuters: “The number of people remaining on the benefits roll after drawing an initial week of aid, or continued claims, rose 159,000 to a higher-than-forecast 4.776 million in the week ended January 17, the most recent week for which data is available.

  • The Labor Department said this was the highest reading since its records on this series began in 1967
  • Analysts had expected continued claims to be 4.65 million

January 28, 2009

Unemployment rises in all 50 states

Filed under: FYI,unemployment,US — 7macaw @ 12:13 pm
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A new report from the U.S. Department of Labor’s Bureau of Labor Statistics shows all 50 states and the District of Columbia recorded unemployment rate increases in December compared with the previous month and the prior year.

December marked the first time every state recorded a rise in monthly unemployment since the bureau began keeping such records in 1976.

Source: The Business Review

January 8, 2009

Jobless claims fall sharply

According to CNN Money: “The number of Americans filing for first-time unemployment benefits dropped sharply from last week to a three-month low, according to a government report released Thursday.
The Labor Department said that initial filings for state jobless benefits fell 24,000 to 467,000 for the week ended Jan. 3.”

According to Bloomberg: “Jobless claims were projected to rise to 545,000, according to the median projection of 35 economists in a Bloomberg News survey. Estimates ranged from 480,000 to 600,000. Claims in the prior week were revised to 491,000 from 492,000.”

  • The total number of people getting benefits rose a week earlier to 4.6 million, the most since 1982.

January 6, 2009

Consumer bankruptcies jump in 2008

According to CNN Money: “Bankruptcy filings by American consumers increased nearly a third in 2008, according to a new report.

The American Bankruptcy Institute said overall consumer filings rose to 1.06 million in 2008, compared with 801,840 during 2007. The ABI based its study on data from the National Bankruptcy Research Center.”

December 31, 2008

Life after a six-figure salary

According to CNN Money: “With fewer jobs available, unemployed workers are taking any position they can find – even if it comes with a salary cut.”

“In fact, 63% of unemployed workers said they would be willing to accept a job offer that pays less than their previous job, according to a recent survey conducted by the National Employment Law Project. Still, only 37% of respondents expressed high confidence in finding a job in the next four months despite being willing to make such a sacrifice.”

Jobless claims fell 94,000

“Initial claims for state unemployment insurance benefits fell 94,000 to a seasonally adjusted 492,000 in the week ended December 27 from an unrevised 586,000 the prior week, the Labor Department said.”

“It was the lowest reading for initial claims since the week ended November 1 and well below the 565,000 new claims analysts had expected”, according to Reuters.

Jobless claims down sharply, backing away from 26-year high. according to CNN Money

December 24, 2008

U.S. outpaces Colorado in new jobless claims

According to BizJournals: “Initial claims for unemployment benefits in Colorado rose 44 percent in the week ending Dec. 13 from the same week a year ago, a lesser increase than the 60 percent national average, the Department of Labor reported Wednesday.

In Colorado, 5,917 new jobless-benefits claims were filed that week, versus 4,097 in the comparable week of 2007. The pace of new claims in the state declined slightly from the week ending Dec. 6.”

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