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Entries in Jobs Report (37)

Friday
Mar082013

Unemployment Rate Drops to 7.7% as 236K Jobs Added in February

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 236,000 jobs to their payrolls in February, exceeding expectations, the Labor Department reported Friday morning.

Economists had anticipated seeing around 160,000 jobs added last month.

The unemployment rate also beat expectations, falling from 7.9 percent to 7.7 percent -- the lowest level since December 2008.

Copyright 2013 ABC News Radio

Friday
Feb012013

Unemployment Rate Rises to 7.9% as 157K Jobs Added in January

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers kicked off 2013 by adding 157,000 jobs to their payrolls in January, the Labor Department reported Friday morning.

The figures were slightly worse than had been anticipated by economists, who were expecting to see around 185,000 jobs added last month.

The unemployment rate, meanwhile, rose from 7.8 percent to 7.9 percent.  Economists had expected to see that figure drop to 7.7 percent.

The Labor Department also revised its figures for November and December to show that 127,000 more jobs were added in those months.

Copyright 2013 ABC News Radio

Friday
Jan042013

Unemployment Rate Stays at 7.8% as 155K Jobs Added in December

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 155,000 jobs to their payrolls in December, keeping in line with expectations, the Labor Department reported Friday morning.

Economists had anticipated seeing between 150,000 and 160,000 jobs added last month.

The unemployment rate, meanwhile, remained steady at 7.8 percent.  November's unemployment rate was revised up from 7.7 percent to 7.8 percent.

The Labor Department also revised its figures for October down to 137,000 from 138,000, and for November up to 161,000 from 146,000.

In December, jobs were added in the sectors of health care by 45,000, food services and drinking places by 38,000, construction by 30,000 and manufacturing by 25,000.

Copyright 2013 ABC News Radio

Friday
Dec072012

Unemployment Rate Falls to 7.7% as 146K Jobs Added in November

Tim Boyle/Getty Images(WASHINGTON) -- In the first monthly jobs report since Election Day, the Labor Department on Friday said U.S. employers added 146,000 jobs to their payrolls in November, exceeding expectations.

Economists had anticipated only around 90,000 jobs to be added last month, mainly due to the destruction of Superstorm Sandy.

The unemployment rate also beat expectations, falling from 7.9 percent to 7.7 percent -- the lowest level in four years.  Economists had expected to see the unemployment rate tick up to 8 percent.

One significant finding in the report was that Sandy did not significantly affect jobs.

The Labor Department, meanwhile, dialed back job gains for the previous two months.  In October, the U.S. economy added 138,000 jobs, not the 171,000 reported before the election.  The jobs added in September were also revised downward to 132,000 from 148,000.

Copyright 2012 ABC News Radio

Friday
Nov022012

US Economy Added 171,000 Jobs in October

Tim Boyle/Getty Images(WASHINGTON) -- In the final monthly jobs report before Election Day, the government on Friday said the U.S. unemployment rate for October ticked up to 7.9 percent.

The Labor Department's Bureau of Labor Statistics (BLS) reported that the U.S. economy added 171,000 jobs, stating that the number of unemployed Americans was essentially unchanged in October at 12.3 million.

"We still have a long way to go but this is a step in the right direction," said Stephen Bronars, chief economist of Welch Consulting.

Analysts had expected around 125,000 added jobs, according to Bloomberg News.

Bronars said October's jobs report was positive despite the unemployment rate increase, because more people resumed looking for work.  He called the 171,000 jobs added "solid" and noted there were upward revisions to the reports of the past two months.

There were also increases in the employment-to-population ratio, at 58.8 percent, and the labor force participation rate, 63.8 percent, after both of the rates had stalled in the summer, Bronars said.

The unemployment rate for September was 7.8 percent.  In Friday's report, the BLS revised September's non-farm payroll employment to 148,000 jobs added from the previously-announced 114,000.

Copyright 2012 ABC News Radio

Wednesday
Oct102012

Jack Welch Claims Jobs Report Suspicions Correct

Peter Foley/Bloomberg via Getty Images(NEW YORK) -- Jack Welch, the former CEO of General Electric, is doubling down on his tweet last week voicing suspicion that the Obama administration is manipulating U.S. employment data for political advantage.

“Unfortunately for those who would like me to pipe down, the 7.8 percent unemployment figure released by the Bureau of Labor Statistics (BLS) last week is downright implausible.  And that’s why I made a stink about it,” Welch said in an Op-Ed in the Wall Street Journal Tuesday.

The U.S. unemployment rate unexpectedly fell to a near four-year low of 7.8 percent in September, from 8.1 percent in August and 8.3 percent in July, the BLS reported Friday.  Most economists were expecting a slight rise.

“Unbelievable jobs numbers…these Chicago guys will do anything…can’t debate so change numbers,” Welch, 76, and a Republican, tweeted minutes after the announcement.

“The Obama campaign and its supporters, including bigwigs like David Axelrod and Robert Gibbs, along with several cable TV anchors, would like you to believe that BLS data are handled like the gold in Fort Knox, with gun-carrying guards watching their every move, and highly trained, white-gloved super-agents counting and recounting hourly,” Welch wrote Tuesday.

“Let’s get real.  The unemployment data reported each month are gathered over a one-week period by census workers, by phone in 70 perccent of the cases, and the rest through home visits.  In sum, they try to contact 60,000 households, asking a list of questions and recording the responses," he said.

“The possibility of subjectivity creeping into the process is so pervasive that the BLS’s own 'Handbook of Methods' has a full page explaining the limitations of its data, including how non-sampling errors get made, from 'misinterpretation of the questions' to 'errors made in the estimations of missing data,'” Welch continued.

"Bottom line: To suggest that the input to the BLS data-collection system is precise and bias-free is -- well, let’s just say, overstated,” he added.

Experts told ABC News last week that it’s near impossible for BLS to have manipulated the numbers.  As former Bush White House aide Tony Fratto put it, “BLS is not manipulating data.  Evidence of such would be a scandal of enormous proportions & loss of credibility.”

“I would be very skeptical of any claims the job statistics are manipulated,” Gary Burtless, an economist at the Brookings Institution in Washington, D.C., told ABC News.  ”If they were, the administration’s record so far in 2012 would undoubtedly look a lot brighter.”

Welch says he’s not sorry for the stir he caused.

“I’m not the first person to question government numbers, and hopefully I won’t be the last.  Take, for example, one of my chief critics in this go-round, Austan Goolsbee, former chairman of the Obama administration’s Council of Economic Advisers.  Back in 2003, Mr. Goolsbee himself, commenting on a Bush-era unemployment figure, wrote in a New York Times op-ed: 'the government has cooked the books,'” he wrote.

Copyright 2012 ABC News Radio

Friday
Oct052012

Unemployment Rate Falls to 7.8% as 114K Jobs Added in September

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 114,000 jobs to their payrolls last month, keeping in line with expectations, the Labor Department reported Friday morning.  

Economists had expected to see around 115,000 jobs added in September.

The government also revised the number of jobs added in July and August to show 86,000 more in those months.

The unemployment rate, meanwhile, fell from 8.1 percent to 7.8 percent, marking the first time the figure has fallen below 8 percent since January 2009. 

Economists had expected to see the unemployment rate remain above 8 percent for the 44th straight month.

Copyright 2012 ABC News Radio

Monday
Oct012012

Another Weak Jobs Report Coming This Week?

Comstock Images/Thinkstock(NEW YORK) -- The economy this week is likely to be dominated by Friday’s September jobs report from the Labor Department.

The August survey was dismal, with just 96,000 jobs added by employers.

Some economists are looking for improvement in September, but the latest forecast from the Business Roundtable is gloomy.  CEOs of the group’s member firms were decidedly more pessimistic about hiring extra workers than they were in the last survey three months ago.

Despite the findings, many big businesses are still making record profits and most expect sales to grow in the next six months.

The two biggest sources of concern are the slowdown overseas and the fiscal cliff due to hit in 2013 when taxes will rise unless Congress acts.

Copyright 2012 ABC News Radio

Friday
Sep072012

Jobs Report 'Not Good Enough,' President Obama Says

JIM WATSON/AFP/Getty Images(PORTSBOUTH, N.H.) -- President Obama said Friday’s news that the economy added just 96,000 jobs last month was “not good enough” and that “we need to create more jobs faster” to recover from the recession.
 
“We need to fill the hole left by this recession faster. We need to come out of this crisis stronger than when we went in. And there's a lot more that we can do,” the president told a crowd of 6,000 at his first campaign stop of the day in Portsmouth, N.H.
 
On the heels of the Democratic Convention, Friday’s worse-than-expected jobs report serves as a stark reminder of the economic reality facing voters and brings the state of the economy to the forefront of the debate.
 
“I'm not going to pretend that this path is quick or easy. And by the way, I never have,” Obama said of the recovery.
 
As he did in his speech last night, the president asked voters for four more years to right the economy and attacked his GOP rivals for failing to outline specific proposals to create jobs.
 
“Our friends at the Republican Convention, they talked a lot about what they thought was wrong with America,” he said. “They didn't tell you what they'd do to make it right. They want your vote, but they don't want to show you their plan. And that's because they know their plan won't sell.”
 
Obama called on Republicans to pass his jobs plan to jumpstart the economy and urged supporters to ask lawmakers to extend the Bush-era tax cuts for the middle class.
 
Hoping to sustain the momentum of the convention, the president and vice president are campaigning in New Hampshire and Iowa with their wives Friday, marking the first time this year that they have hit the trail together.

Copyright 2012 ABC News Radio

Friday
Sep072012

Unemployment Rate Falls to 8.1% as 96K Jobs Added in August

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 96,000 jobs to their payrolls last month, falling short of expectations, the Labor Department reported Friday morning.  

Economists had expected to see around 125,000 jobs added in August.

The government also revised the number of jobs added in June and July, reducing the total by 41,000.

The unemployment rate, meanwhile, fell to 8.1 percent.  Economists predicted it would have remained unchanged at 8.3 percent.

August marks the 43rd month in a row the economy has slogged along with joblessness above 8 percent.

 Copyright 2012 ABC News Radio







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