On Friday, the Bureau of Labor Statistics released their monthly jobs report More…, which estimated that 80,000 new non-farm jobs were created during October, and that the unemployment rate decreased very slightly to 9.0 percent.
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A conference call with reporters today revealed more details about the Obama administration’s plan to roll out a program for student debt relief.
Education Secretary Arne Duncan Duncan, Director of the White House Domestic Policy Council Melody Barnes and Raj Date, Special Advisor to the Secretary of the Treasury on the More…
September’s job numbers indicate More… the unemployment rate remained steady at 9.1 percent, and that nearly half (44 percent) of the 14 million looking for work have been jobless for 27 weeks or longer.
103,000 jobs were created since August, buoyed by a work resolution between the Communications Workers of American
The Bureau of Labor Statistics released its August jobs report Friday morning, finding that a small increase in private-sector employment of 17,000 jobs was exactly offset by a loss of 17,000 public-sector jobs. Unemployment remains unchanged at 9.1 percent. More…
Despite the soaring costs of college (rising More… at 3 percent above inflation for over a decade), a new report from the Georgetown University Center on Education and the Workplace argues the lifetime financial benefits are still worth the five-digit amounts of debt graduates endure.
The U.S. economy gained 117,000 jobs in the month of July, a net increase driven entirely by the private sector. About 154,000 private sector jobs were created in July, even as 37,000 government jobs were lost due to state and local government budget cuts. More…
The Bureau of Labor Statistics released Friday its monthly jobs report showing that the unemployment rate declined from 9.8 percent to 9.4 percent — a decrease that is less remarkable upon further examination. The economy added 103,000 jobs in the last month — with the private sector adding 113,000 jobs and the public sector shrinking by 10,000.
But it’s simply not good enough news given the magnitude of the unemployment crisis. About 8.4 million jobs were lost during the recession. The economy needs to gain 100,000 to 125,000 jobs a month to keep up with population growth. The Wall Street Journal notes that this month’s job growth just isn’t fast enough: “The U.S. unemployment rate is unlikely to move much lower if job gains continue only at December’s pace. Even employment gains close to October’s pace (210,000 jobs) would take us into the next decade before seeing the unemployment rate back near 5%.”
The most troubling news is that the number of discouraged workers increased significantly from last year. The amount of discouraged workers — those unemployed but not looking for work within the past month — rose by 389,000 to 1.3 million from December 2009. (Data is only collected on a yearly basis.) That number is not included in the unemployment rate, since those persons are not in the labor force.
Among the unemployed, 44.3 percent of them have been out of work for 27 weeks or more and are counted as long-term unemployed. Despite 2010 being tied for the highest annual unemployment rate since 1948, employers are still wary of hiring people who have not been out of work for long.
Some job growth is better than none, or job losses. But it’s far from a recovery.
Update: The President spoke on the jobs report this morning in Maryland. He called the jobs report “positive,” but said it only “underscores the importance of not letting up on our efforts.”
This morning’s jobs report More… from the Bureau of Labor Statistics contained much bad news. Despite some promising signs that the economy is improving the national unemployment rate jumped from 9.6 to 9.8 percent.
Non-farm employment increased by only 39,000 jobs, not nearly enough to cover the increase of new workers