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Tag Archives: Bureau of Labor Statistics

January Job Growth Remains Anemic

The Bureau of Labor Statistics’ (BLS) Friday jobs report shows another disappointing month of growth in January—and this one can’t all be blamed on the weather. With the next Federal Open Market Committee (FOMC) meeting to be held in March, it remains to be seen how January’s data will influence the Federal Reserve’s stimulus program.

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Private-Public Collaboration Results in 8M Foreclosure Preventions

Collaboration between the private and public sectors has resulted in 8 million non-foreclosure solutions completed for at-risk families since 2007, according to HOPE NOW, a voluntary alliance of mortgage servicers, investors, mortgage insurers, and nonprofit housing counselors. Over the last six years, the mortgage industry has completed more than 6.71 million total permanent loan modifications, while short sales total approximately 1.39 million since December 2009.

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Furloughed Government Workers Elevate Unemployment Rate to 7.3%

Some 204,000 Americans found work in October, the Bureau of Labor Statistics reported Friday morning. Yet with the number of public employees counted as unemployed or temporarily laid off as a result of the federal government shutdown last month, the national unemployment rate rose to 7.3 percent, up from 7.2 percent in September. Job gains for both August and September were revised upward, adding a combined 60,000 more to the workforce.

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National Unemployment Rate Falls to 7.2% as Hiring Slows

Employers hired 148,000 new workers in September, the Bureau of Labor Statistics reported Tuesday. The hiring pace in the U.S. slowed compared to previous months, yet the unemployment rate slipped to 7.2 percent from 7.3 percent in August. In September, the number of long-term unemployed-meaning those jobless for 27 weeks or more-was little changed at 4.1 million. The government says the number of long-term unemployed has declined by 725,000 over the past year.

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1st Time Jobless Claims Continue to Drop

Continuing the drop in first time claims for unemployment insurance, initial filings fell 5,000 for the week ended September 21 to 305,000, the Labor Department reported Thursday. Economists had expected the number of claims to jump up to 330,000, from the 309,000 originally reported for the week ended September 14.

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1st Time Jobless Claims Up Less Than Expected

Following a sharp drop in first time claims for unemployment insurance a week earlier, initial filings rose 15,000 for the week ended September 14 to 309,000, the Labor Department reported Thursday. Economists had expected the number of claims to jump 49,000 to 341,000, from the 292,000 originally reported for the week ended September 7.

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First-Time Jobless Claims Fall to 7 1/2-Year Low

First-time claims for unemployment insurance for the week ending September 7 plunged 31,000 to 292,000, the lowest level since March 2006, the Labor Department reported Thursday. Economists expected the number of claims to edge up to 330,000 from the 323,000 originally reported for the week ending August 31. The number of filings for that week was unchanged.

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Commentary: Truth… and Consequences

While August's employment situation report was less than robust (with a staggering reduction in July's revised payrolls), it wasn't the first set of data to suggest trouble on the horizon for the housing recovery. The Case-Shiller home price index for June--the most recent--showed continuing, albeit slower, house price gains, pushing affordable homeownership still further from low paid workers. That is, until the numbers change again.

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Unemployment Rate Dips to 7.3% in August

The nation's economy added 169,000 jobs in August as the unemployment rate fell to 7.3 percent, the lowest level since December 2008, the Bureau of Labor Statistics reported Friday. Economists had forecast payrolls would grow by 180,000 and the unemployment rate would remain at July's 7.4 percent. Payroll growth for July, originally reported at 162,000 was revised down 58,000 to 104,000. June payroll growth was also revised downward from 188,000 to 172,000.

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Commentary: A Question of Character

At the end of the classic ""Miracle on 34th Street,"" Fred Gailey—fresh from proving department store Santa Kris Kringle is the Santa Claus—muses aloud, ""Maybe I didn't do such a wonderful thing after all"" when (spoiler alert) he spots Kringle's cane in a vacant, for-sale house his soon-to-be stepdaughter Susie has dreamed of. Perhaps critics of sequester may not have been doing such a ""wonderful thing"" when they argued that across-the-board cuts would have a crippling effect on the nation's economy because of the importance of government spending's ripple effect. Those critics, of course, had statistics on their side.

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