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Entries in Unemployment Rate (43)

Saturday
Feb052011

Under the Ice: Jobs Market Starts to Thaw

Photo Courtesy - Getty Images(NEW YORK) -- Many economists were disappointed Friday when a government report showed that employers hired just 36,000 new workers in the first month of 2011 – far less than the 150,000 new jobs economists were expecting.

“Several factors distorted the data, not the least of which was harsh winter weather,” said Diane Swonk, chief economist at Mesirow Financial. “Some 886,000 workers could not show up for work because of inclement weather during the week the payroll survey was taken.”

The headline number is computed by asking employers how many people they paid during the second week of the month. In January, the second week saw historic snow and ice storms coating most of the nation’s South and Northeast.

While the number of jobs added may have been influenced by the weather, the nation’s unemployment rate – the result of a survey of households, not employers – dropped to 9 percent, a 0.4 percent drop.

The nation hasn’t seen an unemployment rate below 9 percent since April 2009.

“When the average person looks at the numbers it just may be the sharp drop in the unemployment rate that resonates,” economist Joel Naroff said. “While it is still way too high, it has come down dramatically over the past two months and that could help consumer confidence.”

The nation has lost 7.7 million jobs since the first month of the recession.

The next jobs report is scheduled to be released on March 4th.

Copyright 2011 ABC News Radio

Wednesday
Jan262011

Nevada Had Highest Jobless Rate in 2010; North Dakota Had Lowest

Photo Courtesy - ABC News(WASHINGTON) -- Sixteen states experienced an increase in unemployment during 2010, even as the overall national unemployment rate went down by half a percentage point, according to the Bureau of Labor Statistics' latest state and regional unemployment report.

Released Tuesday, the report found Nevada topped the national unemployment list last year with a 14.5 percent rate -- the highest level of unemployment in the state’s history.  California came in second place on the list with 12.5 percent and Florida closely followed in third with 12 percent.

North Dakota was the best place in the nation by jobless rates with 3.8 percent.  Nebraska with 4.4 percent and South Dakota 4.6 percent came in a close second and third with their low rates.

Of note, half of the country -- 25 states -- reported unemployment rates significantly lower than then 9.4 percent national average.  Seventeen states had rates that were statistically at the national average, while the eight remaining states were statistically higher than the average.

Copyright 2011 ABC News Radio

Friday
Jan072011

Unemployment Plummets; US Employers Add 103K Jobs in December

Photo Courtesy - Getty Images(WASHINGTON) -- The nation’s employers increased payrolls by 103,000 during December, worse than the 150,000 economists were expecting.

The unemployment rate dropped from 9.8 to 9.4 percent, the biggest one-month drop since April 1998 and takes the economy to the lowest level since May 2009.

Despite the jobs loss in the government sector, companies in the private sector added 113,000 workers during December. Economists expected the private sector to add 162,000 jobs.

There have been a net of 7.2 million jobs lost since Dec. 2007, the first month of the recession.

Copyright 2011 ABC News Radio

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