Summary Box: Rising pink slips the biggest obstacle to a lasting economic recoveryOctober 2nd, 2009 Summary Box: Another cruel month for jobseekersRISING PINK SLIPS: Employers cut 263,000 jobs in September, after a reduction of 201,000 in August. Even though the economy is in a recovery, companies are still sticking with cost cutting.
Summary Box: Fed says economy is picking up; decides to slow down supportSeptember 23rd, 2009 Summary Box: Fed says economy is picking upIMPROVING PICTURE: Federal Reserve policymakers upgraded their view of the economy, saying "economic activity has picked up."
SLOWING SOME SUPPORT: The Fed decided to stretch out a program intended to lower mortgage rates and prop up the housing market. It says it will complete its $1.45 trillion program to buy mortgage-backed securities and debt by the end of March, rather than the end of this year.
Summary Box: 42 states lose jobs in August, up from 29 in the previous monthSeptember 18th, 2009 Summary Box: 42 states lose jobs in AugustSTATE OF UNEMPLOYMENT: Forty-two states suffered net job losses last month, up from 29 in July, the Labor Department said. Twenty-seven states saw their unemployment rates rise in August; 16 reported a drop.
Summary Box: Unemployment rate jumps to 26-year high, though job cuts slowSeptember 4th, 2009 Summary Box: Unemployment reaches 26-year highTHE BAD NEWS: The jobless rate jumped to 9.7 percent in August, the Labor Department said Friday, from 9.4 percent in July. That's the highest rate since June 1983.
Summary Box: July unemployment rises in 44 percent of metro areas, was 90 percent in JuneSeptember 1st, 2009 Summary Box: Metro jobless rates improve in JulyGLASS HALF-FULL: About 44 percent of the nation's 380 largest metro areas saw their unemployment rates rise in July, a sharp improvement from June, when more than 90 percent reported an increase. Another 44 percent saw their rates drop.
Jobless rates drop in 17 states in July; stimulus, auto industry rebound put people to workAugust 21st, 2009 17 states see unemployment rates drop in JulyWASHINGTON — A rebound in the auto industry and federal stimulus money helped lower unemployment rates in many of the 17 states that reported drops in July — a hopeful sign after only five states had seen their jobless rates dip in June. Still, the Labor Department report Friday showed that joblessness remains widespread as 26 states reported higher unemployment rates.
Meltdown 101: State unemployment report: Is the glass half-full, or half-empty?August 21st, 2009 Meltdown 101: State unemployment, by the numbersWASHINGTON — Texas added the third-highest number of jobs among the states last month — but its unemployment rate still jumped because thousands of jobless people streamed into the work force. That's typical of the Labor Department's July state employment report, which includes a wealth of good news and bad news — often from the same state.
Unemployment rate drops in 17 states in July as layoffs slow, but jobs remain scarceAugust 21st, 2009 July unemployment dips in 17 states, rises in 26WASHINGTON — The unemployment rate fell in 17 states and the District of Columbia last month, a positive sign even as the pain of joblessness remains widespread. The Labor Department said Friday that the jobless rate fell in July in New York, Oregon, Minnesota and Virginia, among other states.
Summary Box: Layoffs drive foreclosures to new record in 2nd quarterAugust 20th, 2009 Summary Box: Foreclosures hit new recordWHAT HAPPENED?: A quarterly report released Thursday by the Mortgage Bankers Association found that more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure. WHAT DOES IT MEAN?: It's another new record, and an indication that the foreclosure crisis is still getting worse as layoffs continue to soar.
Summary Box: Consumer prices down over past year by biggest amount in nearly 6 decadesAugust 14th, 2009 Summary Box: Consumer inflation a no-show in JulyWHAT HAPPENED?: Consumer prices were unchanged in July, and over the past 12 months they have fallen 2.1 percent — the sharpest annual decline since a similar drop in the period ending in January 1950. WHAT DOES IT MEAN?: The recession and falling energy prices made inflation nonexistent — welcome news for consumers struggling with high unemployment, diminished savings and falling home values.
8 states see record unemployment rates in May; Nebraska, Vermont only states without increasesJune 19th, 2009 8 states see record unemployment rates in MayWASHINGTON — The unemployment rates in eight states hit record-highs last month and only two — Nebraska and Vermont — did not report increases. The Labor Department says 48 states and the District of Columbia saw employment conditions deteriorate last month.
Summary Box: Layoffs slow, but jobless rate rises to 9.4 percent and will move higherJune 6th, 2009 Summary Box: Layoffs slow as recession easesJOB CUTS SLOW: Employers cut 345,000 jobs last month, the fewest since September and the fourth straight month that the pace of layoffs slowed. UNEMPLOYMENT RATE RISES: The jobless rate rose to 9.4 percent, from 8.9 percent in April.
Summary Box: Jobless claims dip, but unemployment rate expected to keep risingJune 4th, 2009 Summary Box: Jobless claims dip, but work scarceJOBLESS CLAIMS EASE: The number of newly laid-off workers filing initial claims for unemployment insurance fell Thursday, and so did the total number of people on the jobless benefit rolls. JOBS STILL SCARCE: Still, the drops were small and there is little indication companies are hiring.
15 percent jobless in 13 US cities: ReportJune 4th, 2009 WASHINGTON - Thirteen American cities saw their unemployment rates topping 15 percent in April with nine of the highest in California alone. In another 93, joblessness climbed above 10 percent, according to a new government report.
Obama economic adviser predicts second quarter contraction, increases in unemploymentApril 30th, 2009 Obama adviser: Economic contraction likelyWASHINGTON — A top Obama adviser is predicting another economic contraction in the second quarter of the year and continued increases in unemployment for the next several months. The downbeat assessment from Christina Romer, the chairwoman of Obama's Council of Economic Advisers, comes in the wake of Wednesday's report that the overall economic output in the United States declined rapidly in the first three months of this year.
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