Employment Archive

US jobless claims fall to their lowest since 1973

The number of Americans filing new applications for unemployment benefits last week dropped to its lowest level in more than 41-1/2 years, suggesting the labor market maintained a sturdy pace of job growth in July.  

Unemployment rises as real estate and stock market indices rise!

The current job-creation numbers are meaningfully below the level we might expect during a period of record corporate earnings and the reaching of new peaks in the major stock market indices. The unemployment rate is 7.7%. But, there is another 0.6% of discouraged workers,(about 800,000) mainly the young, minorities and those without

Morgan Stanley to Cut 1,600 Jobs

Morgan Stanley (MS) plans to cut 1,600 jobs within its institutional securities business, or 6% of its headcount within the investment banking and trading unit and support staff, according to a person familiar with the situation. The layoffs will focus more on senior employees, with half of the cuts coming in the

U.S. Jobless Claims Up by 2,000 Last Week

The number of U.S. workers filing applications for jobless benefits rose last week, though the overall trend for claims suggests that the labor market has improved slightly since early this summer. Initial jobless claims, an indication of layoffs, increased by 2,000 to a seasonally adjusted 366,000 in the week ended Aug. 11,

September Private-Sector Jobs +91K Vs Expected +75K

Private businesses added slightly more than expected jobs in September, according to a report released Wednesday. But large companies cut jobs and thanks mostly to two enterprises cutting staff, layoff announcements last month jumped to the highest number in more than two years. Private-sector jobs in the U.S. rose by 91,000 last

Job Losses Hit 25 Year High

The U.S. unemployment rate rose to a 25-year high of 8.1 percent in February as employers, buckling under the strain of a severe recession, axed 651,000 jobs, government data showed on Friday. Adding to the gloom, a combined 161,000 more jobs were lost in January and December than previously believed, the U.S.

New Record Could Be Set For Job Losses

Unemployment in the U.S. probably climbed in January to the highest level since 1992 and payrolls dropped for a 13th consecutive month as the recession showed no sign of abating. The jobless rate rose to 7.5 percent. Employers cut headcounts by 540,000 people, surpassing a half million for a third month. Payrolls

71400: Number Of Jobs Cut In A Single Day

CNN Money has an article on the current job loss: Bloody Monday: Over 71,400 jobs lost The final week of January began with a bloodbath for the job market, as over 71,400 more cuts were announced on Monday alone. At least six companies from manufacturing and service industries announced cost-cutting initiatives that

Job Losses Keep Piling – Will Prolong Recession

Jobs announcements from the past two days : Privately held Chrysler said on Thursday it is slashing 1,825 jobs after losing $1 billion in the first half of the year. Goldman Sachs [GS] plans to cut 10 percent of its staff, or almost 3,300 jobs after laying off hundreds of support staff

No End In Sight: More And More Bad News

ECONOMY The Labor Department reported that jobless claims jumped by 32,000 to a seasonally adjusted 493,000 last week The Commerce Department said that new orders to factories for big-ticket manufactured goods fell by 4.5 percent last month The average price of a new home fell in August by 11.8 percent to $263,900,