Category Archives: Labor Department

U.S. Economy Added 243,000 Jobs in January; Unemployment Dips to 8.3%

Here’s a little good news that should brighten your weekend from the New York Times.

The U.S. Economy Added 243,000 Jobs in January; Unemployment Dips to 8.3%

The United States economy gained momentum in January, adding 243,000 jobs, the second straight month of better-than-expected gains, the Labor Department reported on Friday. The unemployment rate fell to 8.3 percent. The promising jobs numbers came as various economic indicators have painted an ambivalent picture of the recovery’s strength.

You can read all about today in the NY Times

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Good News For Obama and Dems: January unemployment rate drops to 9.7%

There is some good news today for President Obama and the Democrats, contrary to what some had been predicting the unemployment rate did not rise as expected. The unemployment rate dropped in January from 10% to 9.7% thanks in part job growth coming from manufacturing and retail industries.

541,000 Americans left the ranks of the unemployed and found job last month. you can read about it below:

By CHRISTOPHER S. RUGABER
The Associated Press

WASHINGTON — The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs, the government said Friday.

The rate dropped because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said. The job losses are calculated from a separate survey of employers.

The report also included an annual revision to the estimates of total payrolls, which showed there were 930,000 fewer jobs last March than previously estimated. The department also revised down its estimates for April through October of last year, adding another 433,000 job losses.

The November figure was revised higher, however, to show a gain of 64,000 jobs.

All told, the Great Recession has eliminated 8.4 million jobs, the department said. That’s the most of any recession since World War II as a proportion of total payrolls.

Aside from November’s gain, January’s job losses were the smallest since the recession began. Employers cut 779,000 jobs in January 2009.

The report included more good news from the manufacturing sector, which is a key factor in the recovery. Manufacturers gained 11,000 jobs, its largest increase since April 2006.

Retailers added 42,100 jobs, the most since November 2007, before the recession began. Temporary help services gained 52,000 jobs, the fourth month of gains in that category. That could signal future hiring, as employers usually hire temp workers before permanent ones.

The number of part-time workers who want full-time work, but can’t find it fell by almost 1 million. That lowered the “underemployment” rate, which also includes discouraged workers, to 16.5 percent from 17.3 percent.

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>New unemployment claims hit 26-year high

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The Labor Department reports this morning show new claims for unemployment benefits hit 573,000 last week, the highest level in 26 years. The number of people continuing to claim jobless benefits also “jumped much more than expected, increasing by 338,000 to 4.4 million. Economists expected a small increase to 4.1 million. … The increase in continuing claims was the largest jump since November 1974.”

-Think Progress

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New unemployment claims hit 26-year high

The Labor Department reports this morning show new claims for unemployment benefits hit 573,000 last week, the highest level in 26 years. The number of people continuing to claim jobless benefits also “jumped much more than expected, increasing by 338,000 to 4.4 million. Economists expected a small increase to 4.1 million. … The increase in continuing claims was the largest jump since November 1974.”

-Think Progress

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Filed under jobless benefits, Labor Department, unemployment benefits, unemployment rate