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Economy Loses 95K Jobs Due to Government Layoffs

WASHINGTON (Oct. 8) -- A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs. The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight...

Why Hasn't the Economy Recovered Yet?

(Sept. 13) -- In the current issue of the New York Review of Books, there's a good primer on the roots of the 2008 economic crises and explanations for its lingering impact by Robin Wells and Paul Krugman. While the United States and Europe have, for now, avoided a Great Depression-like crash and GDP is rising again,...

Unemployment Rate Rises to 9.6 Percent

(Sept. 3) -- The unemployment rate rose in August for the first time in four months as weak hiring by private employers wasn't enough to keep pace with a large increase in the number of people looking for work. The Labor Department says companies added a net total 67,000 new jobs last month, down from July's upwardly...

Jobless Claims Hit a Nine-Month High of 500,000

(Aug. 19) -- This time in August is called the dog days, but as far as the U.S. job market is concerned, it's more like the bear days. Initial jobless claims unexpectedly rose by 12,000 to 500,000 last week -- their highest level since November 2009 -- the U.S. Labor Department announced Thursday.

New Report: 125,000 Jobs Were Cut in June

WASHINGTON (July 2) -- A wave of census layoffs cut the nation's payrolls in June for the first time in six months, while private employers added a modest number of jobs. The unemployment rate dipped to 9.5 percent, its lowest level in almost a year. Employers cut 125,000 jobs last month, the most since October, the Labor...