U.S. Unemployment Aid Applications Plummet to 346K
(WASHINGTON) — The number of Americans seeking U.S. unemployment benefits fell sharply last week to a seasonally adjusted 346,000, suggesting March’s weak month of hiring may be a temporary slowdown. The Labor Department says weekly unemployment aid applications fell 42,000 last week, reversing sharp gains over the previous two weeks. The four-week average, a less volatile measure, rose 3,000 to 358,000. The data have been volatile in the past two weeks largely because of the Easter holiday, a department spokesman says. The timing of the holiday changes from year to year. That makes it difficult to adjust for school holidays that can cause temporary layoffs. Employers added only 88,000 jobs in March after averaging 220,000 the previous four months. The drop in unemployment benefits suggests hiring could pick up again in April. MORE: How ‘Made in the USA’ is Making a Comeback
Hiring rate increases modestly in February
WASHINGTON - The pace of hiring by employers increased slightly in February, the Labor department said on Tuesday in a report that gave a positive sign for the American job market.
Found 1 month ago on channel Reuters
Jobs growth hits slowest pace in nine months
Jobs growth stumbled in March as U.S. employers paused to take stock amid Washington's financial belt-tightening and Europe's continuing financial crisis.The Labor Department reported that the U.S. economy created 88,000 non-farm jobs in March, much lower than the 195,000 to 200,000 expected and well below February's 254,000 increase. March's job creation was the lowest in nine months.Analysts pol...
Found 1 month ago on channel MSNBC
U.S. Economy Adds 88,000 Jobs, Rate Drops to 7.6%
(WASHINGTON) — U.S. employers added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown is a reminder that the job market’s path back to full health will be uneven. The Labor Department said Friday that the unemployment rate dipped to 7.6 percent from 7.7 percent. While that is the lowest rate in four years, it fell last month only because more people stopped looking for work. The government counts people as unemployed only if they are actively looking for a job. The percentage of Americans working or looking for jobs fell to 63.3 percent in March, the lowest in nearly 34 years. The weakness in March may signal that some companies were worried last month about steep government spending cuts that began on March 1. (MORE: U.S. Unemployment Aid Applications Jump to 385,000) March’s job gains were half the pace of the previous six months, when the economy added an average of 196,000 jobs a month. The drop raises fears ...
U.S. Companies Likely Kept Up Steady Hiring in March
(WASHINGTON) — The U.S. economy has enjoyed a four-month stretch of robust job gains, and on Friday the government will report whether that trend endured into March. Economists generally think it did. They predict that employers added a solid 195,000 jobs, according to a survey by FactSet. That’s a healthy gain, although below February’s 237,000 net jobs added. (VIDEO: Despite More Jobs, Vets Still Struggle to Sell Themselves) The unemployment rate is expected to remain at a four-year low of 7.7 percent. The Labor Department will release the report at 8:30 a.m. EDT Friday. Job gains have accelerated to an average of 205,000 per month from November through February. That’s nearly double the monthly gains from last spring. The forecast figure for March would continue that trend. Still, several subpar economic reports this week have signaled that the job market may have weakened last month. That could mean companies are worried about government spending cuts that began on March 1. Services ...