U.S. employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.
Job losses in the United States likely accelerated last month and the unemployment rate probably surged to a 25-year high as recession-hit companies took drastic steps to cut costs, according to economists.
U.S. business productivity fell in the fourth quarter as output plunged at its fastest pace since 1982, while one in eight U.S. households ended 2008 behind on its mortgage or in foreclosure, according to data on Thursday that underscored the economy's weakness.
The number of U.S. workers filing new claims for jobless benefits fell more than expected last week, a government report showed on Thursday, but remained at high levels consistent with a severe recession.
The number of U.S. workers filing new claims for jobless benefits fell more than expected last week, a government report showed on Thursday, but remained at high levels consistent with a severe recession.
U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.
U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.
U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists' expectations.
Warren Buffett's Berkshire Hathaway Inc reduced staffing last year in half of its nearly 80 operating units, and said more job cuts were coming in an economy unlikely to recover before 2010.
Manufacturing contracted at a less severe pace last month, while consumer spending rebounded in January, according to reports on Monday that provided little cheer for an economy mired recession.
The number of U.S. workers continuing to receive state jobless aid jumped to record high in mid-February, data showed on Thursday, as the 14-month recession ravaged the economy and squeezed companies.
The worsening domestic and global economic slump also pushed new orders for long-lasting manufactured goods to a six-year low in January.
Companies are trying to costs amid slumping demand and tight ...
The number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of February, Labor Department data showed on Thursday, while new claims for aid were the highest since 1982.
The number of people remaining on the benefits roll after drawing an initial week of assistance increased by 114,000 to a 5.112 million in the week ended February 14, the most recent we...
The U.S. economy is set to contract sharply in the first quarter, with the current cyclical downturn on track to rival the 1973-75 slump as soaring unemployment depresses demand, a survey showed.
slightly less than the 3.1 percent during the early '70s, the NABE said.
The survey forecast the unemployment rate peaking at 9.0 percent in the fourth quarter, before edging lower from the second quarter of 2010.
The U.S. jobless rate is currently at 7.6 percent, a 16-year high.
Job losses are expected to persist through 2009, though steadily diminishing over the course of the year. Aver...
The number of U.S. workers drawing unemployment aid jumped to a record high of nearly 5 million, the government said on Thursday, as a worsening economy made it increasingly hard to find jobs.
The data from early February suggested the 13-month-old U.S. recession was deepening, a conclusion supported by a report that showed factory activity in the country's Mid-Atlantic region contracted sharply...
The number of U.S. workers drawing unemployment aid jumped to a record high in early February according to data on Thursday that highlighted the deteriorating labor market as a 13-month recession deepens.
A separate report showed prices received by U.S. producers rose last month, breaking a five straight month declining trend as energy costs rebounded.
The number of people remaining on the benef...
The number of U.S. workers continuing to claim jobless benefits jumped to a record high in the first week of February, the Labor Department data showed on Thursday, while new claims for unemployment insurance last week was unchanged at a very high level.
Initial claims for state unemployment insurance benefits were a seasonally adjusted 627,000 in the week ended February 14 unchanged from an upwa...
The unemployment rate in the US continues to rise, reaching its highest level since 1992 in January with 598,000 jobs lost.
The unemployment rate in the US continues to rise, reaching its highest level since 1992 in January with 598,000 jobs lost.
About 20 million of China's migrant workers have lost their jobs, increasing the threat of social instability, a senior official said on Sunday.
Overall, the dollar continues to strengthen overnight. The only exception among the majors is the pound, which rose after some very good economic reports coming from the U.K. Ahead, the market is likely to become very volatile, especially during the U.S. open, when some important releases are scheduled.
Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. Over time the Employment Data will affect all economic releases, it does however take time for labor trends to form.
