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Entries in Jobs Report (37)

Friday
Apr012011

Economy Adds 216,000 Jobs; Unemployment Rate at Two-Year Low

Jupiterimages/Thinkstock(WASHINGTON) -- The nation’s employers added 216,000 jobs during March, slightly better than the 185,000 economists expected, bringing the country’s unemployment rate down from 8.9 to 8.8 percent -- its lowest level since March 2009.

The private sector, factoring out government layoffs, saw 230,000 workers added to payrolls.

Austan Goolsbee, chairman of the White House Council of Economic Advisers, said that as long as millions are unemployed, considerable work remains.

"Nonetheless," he added, "the steep decline in the jobless rate and the solid employment growth in recent months are encouraging."

House Speaker John Boehner reacted to the report Friday, saying "any improvement in the jobs picture is welcome news for the country, but Washington needs to do more to end the uncertainty plaguing job creators."

“That means getting control of government spending, ending the threat of tax hikes, removing regulatory obstacles to job growth, and approving stalled trade agreements that would open new markets for American exports,” Boehner said.

Copyright 2011 ABC News Radio

Friday
Apr012011

US Stock Futures Up Friday Ahead of Promising Jobs Report

Comstock/Thinkstock(NEW YORK) -- U.S. stock futures are up Friday morning as news of a promising jobs report to be released later in the day awaits.

On Thursday, the stock market ended mixed, with the Dow closing 31 points lower, the Nasdaq gaining four and the S&P losing two.  But with the latest monthly jobs report expected to show that close to 200,000 jobs were added in March, stocks are gaining ground and forecast to go up.

Meanwhile, stock markets overseas closed mostly higher Friday, with the Shanghai Composite index rising by 1.35 percent and Hong Kong's Hang Seng index climbing 1.17 percent.  Japan's Nikkei average, however, fell slightly by 0.48 percent.

Copyright 2011 ABC News Radio

Friday
Mar042011

Stock Market Futures Are Up for Second Straight Day

Comstock/Thinkstock(NEW YORK) -- A second day of gains for global markets.

U.S. stock futures are up Friday morning after the Dow Jones Index gained 191 points, the biggest one day gain since Dec. 1.  Much of this gain is due to strong retail sales for February.  Major retailers are reporting strong results and more jobs.  Thursday's ADP payroll report was also strong.

But all of this might fall apart if the government's monthly jobs report, which is set to come out Friday, fails to match expectations.

Overseas, leading Asian stock averages gained more than 1 percent overnight into Friday.

Meanwhile, the investors are nervously eyeing oil prices, which continued to rise due to the unrest in the Middle East. West Texas crude is now close to $103 a barrel.

Copyright 2011 ABC News Radio

Friday
Jan072011

Obama Calls Jobs Report 'Positive News,' Makes Economic Personnel Announcements

Photo Courtesy - ABC News(WASHINGTON) -- President Obama Friday called the jobs numbers released Friday morning "positive news," but noted there is still work to be done on the economy.  The jobs report showed a drop in the nation's unemployment rate to 9.4 percent.

“Overall, the decline in the unemployment rate is positive news, but it only underscores the importance of us not letting up on our efforts,” President Obama said from the factory floor of Thompson Creek Manufacturing in Landover, Maryland.

“We know these numbers can bounce around from month to month, but the trend is clear,” Obama said noting that this makes 12 straight months of private-sector job growth for the first time since 2006, “The economy added 1.3 million jobs last year, and each quarter was stronger than the previous quarter, which means that the pace of hiring is beginning to pick up.”

The president said they are seeing “optimistic” economic forecasts for the year ahead -- he said in part due to the tax cuts package he signed into law last month, including a payroll-tax cut for workers and tax breaks to encourage investment, innovation and hiring in businesses.

“I fought for that package because, even though our economy is recovering, we've still got a lot to do,” the president said, “So even though we've created 1.3 million jobs, we've saved a whole lot of jobs, you've still got a whole bunch of folks who are out there looking, still struggling. We've got a big hole that we're digging ourselves out of.

As expected the president made four economic personnel announcements -- all of whom stood with him on stage – which he dubbed the people who would “help America fulfill this mission,” to put people back to work.

Declaring him a man of “decency and integrity,” President Obama appointed Treasury official Gene Sperling as director of the National Economic Council, replacing Larry Summers.

“One of the reasons I've selected Gene is, he's done this before. This is his second tour of duty heading up the NEC,” Obama said of Sperling who headed the NEC under the Clinton administration, “And in his tenure in the Clinton administration during the late '90s, he helped formulate the policies that contributed to turning deficits to surpluses and a time of prosperity and progress for American families in a sustained way. “

Mr. Obama also elevated Jason Furman to be principal deputy at the National Economic Council, himself a two-year veteran of the White House already -- to work alongside Sperling.

The president also announced his nomination of Heather Higginbottom is currently the deputy director of the Domestic Policy Council, to now serve as deputy director of the Office of Management and Budget.

“She understands the relationship between numbers on a ledger and the lives of real people. As we make cuts that are necessary to rein in the deficit, I want to make sure I've got Heather there so that we're meeting our fundamental obligations to our people and to our economy, as well.”

And rounding out the personnel announcements the president also nominated Katharine Abraham to the Council of Economic Advisers.

Copyright 2011 ABC News Radio

Wednesday
Jan052011

Reports Show Improvements in Jobs Market

Photo Courtesy - Getty Images(NEW YORK) -- Two new reports suggest the jobs market may be improving.

Although unemployment is still high, the number of layoffs has fallen sharply since the worst of the recession.  The jobs firm Challenger Gray & Christmas says layoffs last year fell to their lowest level since 1997.  The trend continued in December with a sharp drop compared to the month before.

Meanwhile, the processing firm ADP says private sector employment gained 297,000 jobs last month.

Copyright 2011 ABC News Radio

Friday
Dec102010

Claims for Unemployment Benefits Drop by 17,000

Photo Courtesy - Spencer Platt/Getty Images(WASHINGTON) -- Despite lawmakers paralyzed by partisan politics in Washington, the tattered economy seems to be mending on its own.

The latest signal of better health arrived Thursday from the Labor Department, which said that jobless claims fell to 421,000 last week.

That figure represents a drop of 17,000 from the week before but is still 11,000 more than the 410,000 claims for unemployment benefits during the week of Thanksgiving, which was the lowest number in two years.

Unemployment now stands at 9.8 percent overall, although it might drop in December because of all the seasonal hirings.

Adding to the optimism Thursday was a report of 801 chief financial officers, compiled by Bank of America, that says 47 percent expected their companies to bring on new help in 2011.  At this time last year, only 28 percent said the same for the upcoming year.

Copyright 2010 ABC News Radio

Tuesday
Nov092010

Holiday Hiring Season on Track to Be One of Strongest in Years

Photo Courtesy - Getty Images(CHICAGO) -- The job outlook for this holiday season is seeing its strongest start in four years, according to outplacement firm Challenger, Gray & Christmas, Inc.

The latest jobs report showed a net gain of 150,900 retail jobs in October, three times greater than the number of retail positions added in the same month last year and nearly four times greater than those added in 2008.  The last time similar numbers were posted was back in 2006, when retail payrolls expanded by 150,600.

“This is a good sign that retailers feel more optimistic this year.  Even if November and December hiring remains flat from a year ago, seasonal job growth will top 600,000 for the first time since 2007,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

Copyright 2010 ABC News Radio

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