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Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.
Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to [...]
The unemployment rate dropped unexpectedly in January to 9.7
percent, while employers shed 20,000 jobs, according to a report that
offered hope the economy will add jobs soon.
The unemployment rate dropped from 10 percent because a survey of
households found the number of employed Americans rose by 541,000, the
Labor Department said Friday. The job losses are calculated from [...]
What economic challenges are still ahead? I thought the economy was recovering, and green shoots abound.
US unemployment surged above 10 per cent for the first time in more than a quarter of a century in October, increasing political pressure on the Obama administration.
According to figures revealed on Friday, the unemployment rate rose to 10.2 [...]
A top U.S. military commander says troops will begin getting required swine flu shots in the next week to 10 days. Active duty forces deploying to war zones and other critical areas are at the front of the vaccine line.
Air Force Gen. Gene Renuart also told The Associated Press that as many as 400 troops [...]
Oh really. Well I guess the party should be at Ben’s house, shouldn’t it? Does consumer spending account for 2 thirds of the US GPD? Businessweek doesn’t think so, but even so it seems only logical that the average citizen won’t start recovering until employment recovers. In that regard Benny is a bit more [...]
Source/Full Story:: MarketWatch
Employers’ hiring plans for the upcoming fourth quarter dropped to their lowest level in the history of Manpower’s Employment Outlook Survey, which started in 1962.
A net -3% of employers said they’ll hire in the fourth quarter, down from -2% in the third quarter, on a seasonally adjusted basis, according to the Milwaukee-based firm’s [...]
Source/Full Story:: MarketWatch
Employers’ hiring plans for the upcoming fourth quarter dropped to their lowest level in the history of Manpower’s Employment Outlook Survey, which started in 1962.
A net -3% of employers said they’ll hire in the fourth quarter, down from -2% in the third quarter, on a seasonally adjusted basis, according to the Milwaukee-based firm’s [...]
Source/Full Story: FT.com
Whoda thunk it…
The number of working Americans turning to free government food stamps has surged as their hours and wages erode, in a stark sign that the recession is inflicting pain on the employed as well as the newly jobless.
While the increase in take-up is often attributed to the sharp rise in [...]
The country’s growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, according to bankers and economists, threatening to send even higher the number of borrowers who will lose their homes and making the foreclosure crisis far more complicated to unwind.
Economists estimate that 1.8 million borrowers will lose their homes this year, up [...]
Vice President Joe Biden said the Obama administration “misread how bad the economy was” but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up.
Biden, in an interview airing Sunday on ABC’s “This Week,” said the nation’s 9.5 percent unemployment rate is “much too [...]
Stock markets on both sides of the Atlantic tumbled on Thursday as investors took fright at a bigger-than-expected fall in US jobs last month that dashed hopes the recession was all but over in the world’s biggest economy.
The data showed that the number of people in employment fell 467,000 in June and the unemployment rate [...]
Sears Holdings Corp., the largest U.S. department-store chain, will let customers who lose their jobs suspend payments and keep appliances bought with store credit cards in an effort to bolster sales in the recession.
Customers who spend at least $399 on appliances and related merchandise between July 6 and Aug. 1 will have one-twelfth of the [...]
Adela Chevalier didn’t fit the profile of someone who might die of swine flu.
The Escondido woman was young, having turned 20 in January. She was active and worked two jobs. And she was healthy — family members said she never had a serious illness before last weekend.
Statistics on swine-flu patients also were in her favor.
About [...]
The head of the IMF questioned on Monday any debate about when to roll back stimulus spending, saying the world economy had yet to weather the worst of a recession that claimed a record number of European jobs.
The 16-country euro zone lost a record 1.22 million jobs in the first quarter, official data showed. Employment [...]
Obama: Turning wage-slaves into Government drones since 2009…
President Barack Obama is promising to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, repackaging a pledge the administration made weeks earlier as the economy continues to lose hundreds of thousands of jobs each month.
Obama spotlighted billions in federal agency spending planned this [...]
…With unemployment rising to its highest level in more than a quarter century, more Americans are confronting the double crisis of losing both their jobs and their employer-sponsored insurance, which covers 177 million people.
Many unemployed Americans say they cannot afford the high premiums insurance companies charge for personal policies. People like Furchak and Drake who [...]
…With unemployment rising to its highest level in more than a quarter century, more Americans are confronting the double crisis of losing both their jobs and their employer-sponsored insurance, which covers 177 million people.
Many unemployed Americans say they cannot afford the high premiums insurance companies charge for personal policies. People like Furchak and Drake who [...]
Europe’s economy contracted at the fastest pace in at least 13 years in the first quarter as companies cut output and jobs to survive the worst global slump in more than six decades.
Gross domestic product in the 16-member euro region dropped 2.5 percent from the fourth quarter, when it fell 1.6 percent, the European Union’s [...]
US unemployment climbed to 8.9 per cent in April, its highest level in a quarter of a century, as the economy shed more than half a million jobs, official figures revealed on Friday.
The latest non-farm payrolls data showed that 539,000 jobs were lost in April, making it the seventh-worst month for job losses in half [...]
Private-sector employment in the United States fell by 491,000 jobs in April, according to the ADP employment index released Wednesday. The March number was revised higher to a decline of 708,000 from a decline of 742,000. The index comes two days before the government releases its estimate of April nonfarm payrolls. Economists are looking for [...]
U.S. workers lost jobs at a devastating rate again in April, but the expected loss of 580,000 would be least bad since October, economists said.
Compared with what the economy has just seen, 580,000 lost jobs might look good. But in absolute terms, it’d be horrible. Aside from the current recession, it would be in percentage [...]
Chrysler began its stint in bankruptcy court on Friday with a plea for haste and a doomsday warning that, if it could not execute its proposed restructuring within two months, hundreds of thousands of jobs could be lost.
Outside the Manhattan courtroom, the row over the Chapter 11 filing rumbled on with creditors crying foul and [...]
As a deep recession strips Americans of their jobs, homes and investments, the 2009 U.S. tax season promises to see a large uptick in first-time delinquent income taxpayers.
“Our calls are up 280 percent,” said Richard Boggs, founder and chief executive of Los Angeles-based Nationwide Tax Relief, a firm that helps delinquent taxpayers resolve tax issues.
“We’ve [...]
Source: CNN
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government’s latest reading on the battered labor market Friday.
Employers trimmed 663,000 jobs from their payrolls last month, roughly in line with forecasts of a loss of 658,000 jobs, according to economists surveyed by Briefing.com.
For the first three [...]
Source: Bloomberg.com
The number of Americans filing unemployment claims unexpectedly rose last week to the highest level since 1982 and those staying on benefit rolls jumped to a record as companies kept cutting jobs to trim costs.
Initial jobless claims swelled by 12,000 to 669,000 in the week ended March 28, topping 600,000 for a ninth straight [...]
Source: CNN
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government’s latest reading on the battered labor market Friday.
Employers trimmed 663,000 jobs from their payrolls last month, roughly in line with forecasts of a loss of 658,000 jobs, according to economists surveyed by Briefing.com.
For the first three [...]
Source: Bloomberg.com
The number of Americans filing unemployment claims unexpectedly rose last week to the highest level since 1982 and those staying on benefit rolls jumped to a record as companies kept cutting jobs to trim costs.
Initial jobless claims swelled by 12,000 to 669,000 in the week ended March 28, topping 600,000 for a ninth straight [...]
Source: CNN
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government’s latest reading on the battered labor market Friday.
Employers trimmed 663,000 jobs from their payrolls last month, roughly in line with forecasts of a loss of 658,000 jobs, according to economists surveyed by Briefing.com.
For the first three [...]
Source: Bloomberg.com
The number of Americans filing unemployment claims unexpectedly rose last week to the highest level since 1982 and those staying on benefit rolls jumped to a record as companies kept cutting jobs to trim costs.
Initial jobless claims swelled by 12,000 to 669,000 in the week ended March 28, topping 600,000 for a ninth straight [...]
Source: CNN
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government’s latest reading on the battered labor market Friday.
Employers trimmed 663,000 jobs from their payrolls last month, roughly in line with forecasts of a loss of 658,000 jobs, according to economists surveyed by Briefing.com.
For the first three [...]
Source: Bloomberg.com
The number of Americans filing unemployment claims unexpectedly rose last week to the highest level since 1982 and those staying on benefit rolls jumped to a record as companies kept cutting jobs to trim costs.
Initial jobless claims swelled by 12,000 to 669,000 in the week ended March 28, topping 600,000 for a ninth straight [...]
The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.
“By the end of 2010 the unemployment rate could be approaching double digit figures in all G8 countries with the sole exception of Japan, [...]
Source: bizjournals.com
The Buffalo-Niagara Falls labor market suffered a loss of 6,100 private-sector jobs in the last year while joblessness rose to its highest point in nearly two decades.
The state Department of Labor reported the unemployment rate jumped to 9 percent last month, compared with 6.3 percent in January 2008 and 7.1 percent in December. According to [...]
I know this hardly comes as any great surprise to many of us, but I do know a few ostriches, so this news is for them.
Source: Reuters
U.S. consumer confidence plunged to another record low in February with expectations that already dire economic conditions will continue to weaken and the jobs market will further deteriorate.
The Conference [...]
I don’t buy this for a minute. Real unemployment, ie. people who don’t have jobs, is already around 18%.
Source: Reuters
U.S. unemployment will top 9 percent before the recession is over, according to a Reuters poll of economists that points to a significantly bleaker economic outlook than just one month ago.
The current quarter is likely to [...]
Source: MarketWatch
The House of Representatives approved a sprawling, $787 billion stimulus package backed by President Barack Obama on Friday, handing the new president a key victory on his top economic priority. Obama and Democrats say the bill will create 3.5 million jobs over 2 years. It also contains a $400 tax cut for individuals and [...]
Source: CNN.com
Faced with a projected $42 billion deficit, California Gov. Arnold Schwarzenegger warned Tuesday that 20,000 state workers will lose their jobs if a budget deal isn’t reached by the end of the week.
The governor and the legislature are “making progress” in talks, said Schwarzenegger’s press secretary, Aaron McLear.
The Republican governor, who declared a fiscal [...]
Source: Bloomberg.com
UBS AG, Switzerland’s largest bank, plans to eliminate an additional 2,000 jobs at its securities unit and expects to be profitable in 2009, after posting a record loss last year.
UBS rose as much as 7.1 percent in Swiss trading after saying its wealth and asset management businesses recorded net increases in client investments [...]
Source: Reuters
Nissan Motor Co said it would cut 20,000 jobs and joined a growing list of automakers warning of red ink this year in what would mark its first loss since Chief Executive Carlos Ghosn took the reins a decade ago.
The spreading global recession has put consumers off buying expensive goods and even if they [...]
If you count the people that the Gov’t doesn’t count, true unemployment is closer to 18%…see U.S. Unemployment Government Statistics Hiding the Dismal Truth
Source: Reuters
U.S. non-farm payroll are estimated to have shed more than half a million jobs in January after losing a similar number in December as employers, fearing the impact of a weak [...]
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Supplies against Swine Flu These are some supplies you should consider acquiring, wherever you can obtain them from, but you should act quickly because I suspect they will be going fast.
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