unemployment
Washington (AFP) - For the past year, Taylor Simpson has been searching for a stable job while working part-time, but she is struggling to find a position she likes even though companies are hiring. As hiring in the United States cools, jobseekers like 24-year-old Simpson have a harder time finding suitable work, even as data suggests the labor market remains strong. The number of applications per job posting surged by around 40 percent from a year ago on employment platform ZipRecruiter in the second quarter, said the company's chief economist Julia Pollak. The numbers have remained elevated ...
AFP
Washington (AFP) - The US labor market is remarkably solid despite aggressive interest rate hikes to fight inflation and a recent rise in unemployment, but analysts warn that the central bank risks pushing too far. The Federal Reserve has lifted the benchmark lending rate 11 times since March last year, with consumer inflation cooling from a peak of 9.1 percent in mid-2022 to below four percent. And Fed officials are gathering Tuesday for a two-day meeting that could see them raise rates again to lower inflation sustainably back to a two percent target -- potentially adding pressure on employm...
AFP
Washington (AFP) - US job gains slowed slightly in September, offering some good news for the Federal Reserve as it works to cool the economy, but official data released on Friday also showed wages continued to rise, underlining the challenge to tamping down rampant inflation. President Joe Biden, who has seen his approval erode in the face of surging prices, cheered the data as a sign of "historic progress" in the economy, even while he said there is more work to do to help American families. But the central bank likely will want to see more evidence of slowing price increases, which have soa...
AFP
Washington (AFP) - US President Joe Biden cheered government data released Thursday that showed unemployment benefit filings dropping to levels not seen in more than 50 years, calling it evidence his economic policies were working. The Labor Department reported 187,000 new claims for jobless aid were made last week, seasonally adjusted, the lowest level since the week of September 6, 1969. It also said the number of people receiving regular state unemployment benefits in the week ending March 12 was 1.35 million, the lowest it had been since January 3, 1970. Both of those figures represented d...
AFP
Washington (AFP) - Americans are spending their way into the holiday season, while jobless claims have fallen to historic lows, new data showed Wednesday -- offering some respite for President Joe Biden as he steers the recovery from the Covid-19 pandemic amid soaring inflation. The raft of surveys paint a picture of a country where companies are increasingly holding on to staff while workers are channeling their paychecks to businesses across the world's largest economy, all while dealing with the uncertainty posed by rapid price increases. In a landmark for the labor market, new filings for ...
AFP
Washington (AFP) - New applications for US unemployment benefits declined for a fifth straight week, the government said Thursday, as the healing in the labor market continues. The Labor Department reported 269,000 new seasonally adjusted unemployment benefit claims filed in the week that ended October 30, fewer than expected and the lowest weekly figure since they soared into the millions when the Covid-19 pandemic began. All told, nearly 2.7 million people were receiving benefits under all jobless aid programs as of the week ended October 16, the latest for which data was available. Jobless ...
AFP
Washington (AFP) - Fewer Americans made unemployment benefit filings last week than at any other point since the pandemic, government data said Thursday, underscoring the labor market is bouncing back from the downturn. The Labor Department reported 281,000 new seasonally adjusted jobless benefit claims filed in the week ended October 23, 10,000 less than the prior week's upwardly revised total and fewer than analysts had forecast. It was the fourth straight week the closely watched indicator of labor market health had decreased and the third in which it had set a new low since Covid-19 broke ...
AFP
Washington (AFP) - New applications for US unemployment benefits dipped below 300,000 for the first time since the pandemic began, a milestone in the labor market's recovery from the devastation wrought by the virus last year. President Joe Biden heralded the data as a victory for his policies. The tally of weekly applications for jobless aid became one of the most visible signs of economic ravages of Covid-19, as the total surged into the millions in March 2020. Claims have declined steadily this year as vaccines allowed employers to rebuild their staff, and the total dropped to 293,000 in th...
AFP
Washington (AFP) - New applications for US unemployment benefits dipped below 300,000 last week for the first time since Covid-19 sent them skyrocketing into the millions early last year, according to government data released Thursday. There were 293,000 initial claims for unemployment benefit submitted the week ended October 9, the Labor Department said, 36,000 less than the previous week. That took the total closer to the 256,000 filed in the week of March 14, 2020, just before the pandemic caused mass layoffs. Weekly jobless claims, a closely watched metric of labor market health, remained ...
AFP
Washington (AFP) - Fewer Americans filed new claims for unemployment benefits last week, reversing a recent uptick in the metric of labor market health, government data said Thursday. The Labor Department reported 326,000 new claims, seasonally adjusted, filed in the week ended October 2, 38,000 less than the previous week's upwardly revised level and fewer than analysts had expected. After soaring into the millions as the Covid-19 pandemic began, new unemployment filings have dropped substantially over the course of this year as vaccines allow businesses to return to normal and rehire workers...
AFP
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