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Entries in Jobs Report (37)

Friday
Nov042011

80,000 Jobs Added in October; Unemployment Rate Dips to 9%

Stockbyte/Thinkstock(WASHINGTON) -- American employers added 80,000 jobs to their payrolls in October, meeting economists' expectations of some 85,000 new jobs for the month, according the latest monthly jobs report released by the Labor Department on Friday.

Factoring out the government sector, the report shows private employers added 104,000 jobs last month, which falls slightly short of the 111,000 new private sector jobs economists were expecting.

Significant upward revisions made for the previous months shows the country's added more than 1.2 million jobs in the past year, but still has a net jobs deficit of around 6.5 million from when the recession began.

Meanwhile, the nation’s unemployment rate -- the result of a separate but simultaneously released survey of American households -- dipped to 9 percent in October, marking the first time since July it's budged from 9.1 percent.  The drop is a statistically insignificant, but one that might well give Americans some hope that the job market is taking a turn for the better.

Copyright 2011 ABC News Radio

Friday
Nov042011

Wall Street Poised for Gains Ahead of October Jobs Report

John Foxx/Thinkstock(NEW YORK) -- U.S. stock futures are slightly up ahead of Friday's opening bell as investors await the latest monthly jobs report being released just minutes before trading kicks off for the day.

Most economists expect the report to show that around 90,000 jobs were added in the U.S. last month.  However, they predict the unemployment rate, which has been locked at 9.1 percent for months, will not change.

The Labor Department is scheduled to release October's jobs report at 8:30 a.m. ET.

On Thursday, Wall Street continued to rebound from a rough start early this week thanks in part to Greece's decision to call off a referendum on its financial bailout deal.  The Dow Jones Industrial Average added 208 points, the Nasdaq gained 58 and the S&P 500 climbed 23.

The news out of Greece also translated well in overseas markets.  European stocks are trading higher on Friday and Asian markets closed the day up.  South Korea’s Kospi surged 3.13 percent, Hong Kong’s Hang Seng rose 3.12 percent, Australia’s S&P/ASX 200 jumped 2.62 percent, Japan’s Nikkei index added 1.86 percent, and China's Shanghai Composite gained 0.81 percent.

Copyright 2011 ABC News Radio

Friday
Oct072011

103,000 New Jobs Added in September; Unemployment Still Stuck at 9.1%

Jupiterimages/Thinkstock(WASHINGTON) -- After falling flat the month before, the number of jobs added in the U.S. rose in September, sending U.S. stock futures up ahead of Friday's opening bell.

The Department of Labor reported Friday that 103,000 jobs were added last month, better than the approximately 60,000 most economists had expected.  That's up from August, when the department originally reported zero jobs were added to employers' payrolls -- a first since 1945.  The number has since been revised to 57,000.

Still, the latest figure wasn't enough to change the unemployment rate, which has been holding steady at 9.1 percent for the past three months.

Copyright 2011 ABC News Radio

Friday
Sep022011

US Stock Futures Point to Losses ahead of August Jobs Report

Simon Fell/Getty Images(NEW YORK) -- September trading looks poised for another day of losses with U.S. stock futures down ahead of Friday's opening bell.

Futures are dipping as investors anxiously await the latest jobs report set to be released at 8:30 a.m. ET.  The Labor Department will announce how many jobs were created in August, but the forecast doesn't look good -- most analysts believe not enough jobs were added last month to change the country's 9.1 percent jobless rate.

On Thursday, Wall Street snapped a four day winning streak as the Dow Jones Industrial Average closed 120 points lower.  The Nasdaq and the S&P 500 also dropped, falling 33 points and 15 points, respectively.

Most markets overseas followed suit on Friday. European markets are trading lower and Asian markets ended the day with deficits.

Hong Kong’s Hang Seng was the hardest hit, falling 1.81 percent.  Australia’s S&P/ASX 200 fell 1.5 percent, Japan's Nikkei index lost 1.21 percent, and China’s Shanghai Composite shed 1.09 percent.  South Korea's Kospi and Taiwan’s Taiex saw minimal losses, dropping 0.69 percent and 0.01 percent, respectively.

Copyright 2011 ABC News Radio

Friday
Jul082011

June: Unemployment Rises to 9.2%, Employers Add Just 18,000 Jobs

Jupiterimages/Thinkstock(WASHINGTON) -- Falling well below economists' expectations, U.S. employers added just 18,000 jobs in June, according to a report released Friday by the U.S. Bureau of Labor Statistics.

The nation’s unemployment rate, in turn, increased by one-tenth of a percent from 9.1 percent to 9.2 percent.

The private sector, which factors out government layoffs and hiring, saw just 57,000 workers added to payrolls, marking the worst monthly jobs growth from the private sector since May 2010.

Ahead of Friday's report, economists had predicted that 110,000 jobs would have been added last month.

Copyright 2011 ABC News Radio

Friday
Jul082011

Signs Point to Encouraging Job Numbers for June

Stockbyte/Thinkstock(WASHINGTON) -- Members of the Obama administration are keeping their fingers crossed about Friday morning's job numbers.

After months of steady improvement, the White House received a jolt four weeks ago when the Labor Department revealed that only 54,000 jobs were added during May, leaving the overall unemployment rate at 9.1 percent.

Economists blamed the paltry numbers on steep increases in gasoline prices, continued financial unrest in Europe and manufacturing disruptions caused by the earthquake and tsunami in Japan.

Things could really be on the upswing if a report released Thursday by ADP turns out to be true.  The payroll processor says its records show that private sector employers added 157,000 jobs in June, about 100,000 more than economists had predicted for the month.

In another glimmer of hope, first-time unemployment claims fell last week to 418,000 from 432,000 the week before.

Copyright 2011 ABC News Radio

Friday
Jun032011

President Obama Doesn't Acknowledge Friday's Jobs Report?

William Thomas Cain/Getty Images(WASHINGTON) -- President Obama’s comments Friday made no specific mention of the disappointing jobs report or the fact that the unemployment rate ticked upward.
 
Instead the president focused on signs of life in the auto industry, while saying: “I don’t want to pretend like everything is solved.  We’ve still got a long way to go not just in this industry, but in our economy; for all our friends, all our neighbors who are still feeling the sting of recession. …Even though the economy is growing, even though it’s created more than two million jobs over the past 15 months, we still face some tough times.  We still face some challenges.”
 
While House officials claimed that there was no change in the president’s general message. And it’s true that the president generally has the same talking points about how things are getting better though we’re not out of the woods yet.
 
But when the jobs numbers are good, the president likes to acknowledge them, and tell people the number.
 
Just last month, after a good jobs report for April, the president said, “today we found out that we added another 268,000 private sector jobs in April.  So that means over the past 14 months, just in a little bit over a year, we’ve added more than 2 million jobs in the private sector. “
 
One year ago, the president noted that “In May (2010) the economy added 431,000 jobs…This report is a sign that our economy is getting stronger by the day.”
 
Friday: no mention of the anemic number, or even an acknowledgment that there was a report.

Copyright 2011 ABC News Radio

Wednesday
Jun012011

US Private Sector Added Only 38,000 Jobs in May

Jupiterimages/Thinkstock(ROSELAND, N.J.) -- Private businesses in the U.S. added only 38,000 jobs in May, falling short of what economists had expected and showing a slowdown in employment growth for the month, according to a report released Wednesday by ADP.

The ADP National Employment Report, which was developed in partnership with Macroeconomic Advisers, LLC, also noted a revision in the change of employment between March and April, finding that employment rose by 177,000, not 179,000 as previously reported.

"Although we continue to see jobs being added to the economy, this month's job figures show that employers believe we are not out of the woods yet when it comes to decisions on hiring," ADP President and CEO Gary C. Butler said.

Joel Prakken, Chairman of Macroeconomic Advisers, LLC, said the latest figures are not surprising given the slow growth of the country's gross domestic product.

"A deceleration in employment, while disappointing, is not entirely surprising.  In the first quarter, GDP grew at only a 1.8 percent rate and only about 2.25 percent over the last four quarters," Prakken said.  "This is below most economists' estimate of the economy's potential growth rate and normally would be associated with very weak growth of employment."

Copyright 2011 ABC News Radio

Wednesday
May042011

Report: Layoffs Dropped 12 Percent in April

Jupiterimages/Thinkstock(NEW YORK) -- There's some fresh hope for the job market, as a new survey released Wednesday shows that the pace of company downsizing dropped last month.

The report, conducted by employment firm Challenger Gray & Christmas, found that job cuts were down 12 percent from March to April.

"Employers announced plans to cut 36,490 jobs from their payrolls during the month.  That was 12 percent fewer than were announced in the month of March," said the firm's CEO, John Challenger.

Challenger added that employers have announced plans to add 172,590 positions, which is "a big increase from what we saw last year -- up almost 150 percent."

He explained the positive trend, saying, "Much of the changes now when you see job losses are occurring because of mergers and acquisitions, not just because demand is down -- that's a good thing.  At least it means the economy, or the reason behind the layoffs suggest the economy's in better shape."

The government is set to release its monthly jobs report on Friday.

Copyright 2011 ABC News Radio

Friday
Apr012011

Getting Back to Work: US Employers Hiring, Labor Department Numbers Show

Stockbyte/Thinkstock(WASHINGTON) -- American companies are adding workers at the fastest pace in five years, new government numbers showed Friday. According to the Labor Department's March jobs report, 216,000 jobs were added, bringing unemployment down to 8.8 percent, the lowest rate in two years.

Across the country, the stories behind those numbers give new hope that the nation may finally be turning the corner on unemployment.

Just four months ago, for example, Sharon Walter was out of work, a victim of the recession. Now, she has found work at a Siemens plant in Charlotte, North Carolina, assembling steam turbine engines.

"To meet somebody and say, 'Well, I'm unemployed,' it takes something away from you," Walter said. "Every morning, I get up, I know I have someplace to go. I know I have a job to go to. I'm going to work hard, it's appreciated."

Data from the Labor Department shows that the optimistic numbers spread across a variety of industries. In March, 17,000 new jobs were added in manufacturing, 37,000 in health care, and 78,000 jobs in professional and business sectors. For private sector industries, there have now been 13 straight months of growth.

"I think fundamentally, our economy is in a much better place than it's been in many, many years," said Mark Zandi, chief economist for Moody's Economy.com.

At a job fair in Reno, Nevada, companies have been hiring new workers on the spot. And in Philadelphia, manufacturers like Boathouse Sports are starting to overtake their Asian competitors and start hiring again.

The news is good, but the reality for so many others remains grim. All told, 13 million Americans still don't have work. That figure is equivalent to the population of Illinois.

One of those Americans, Joseph Cappelluzzo, has been out of a job for two years. The father of five from Florida has gone to extreme measures to find work, even standing by the side of the road with a sign. Today, Cappelluzzo has worked enough odd jobs to buy a new house for his family, but he still has no stable employer.

"I'm working six and a half days a week," Cappelluzzo said. "I'd work in a bar. I would work in a Laundromat. I would do whatever it took to feed my family."

Copyright 2011 ABC News Radio







ABC News Radio