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Tag Archives: Bureau of Labor Statistics

Payrolls Up 162K in July; Unemployment Rate Down to 7.4 %

The nation's economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent. Average weekly hours fell to 34.4, compared with forecasts of 34.5, and average hourly earnings fell two cents. Despite the increase in jobs, the report could have a major negative impact on the broader economy, as it showed more people with jobs but working fewer hours and for less money.

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First-Time Unemployment Claims Plunge to 5-Year Low

First-time claims for unemployment insurance dropped to the lowest level in five years, falling 19,000 to 326,000 for the week ending July 27, the Labor Department reported Thursday. Economists expected the number of claims to edge up to 345,000 from the 343,000 originally reported for the week ending July 20. The number of filings for that week was revised to 345,000.

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Commentary: Magical Mystery Tour

President Obama embarked this week on a series of speeches designed to highlight the nation’s continued economic stress. The immediate response and from both ends of the political spectrum was to decry his efforts as same-old, same-old. And, it is true the President has made this pitch before, emphasizing that the significant progress has made is not enough.

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First-Time Jobless Claims Drop to 10-Week Low

One week after spiking to a two-month high, first-time claims for unemployment insurance dropped 24,000 to 334,000 for the week ending July 13--the lowest level in 10 weeks, the Labor Department reported Thursday. Economists expected the number of claims to drop to 344,000 from the 360,000 originally reported for the week ending July 6. The number of filings for that week was revised down to 358,000.

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First-Time Jobless Claims Jump to Two-Month High

First-time claims for unemployment insurance jumped a surprising 16,000 to 360,000 for week ending July 6, the highest level since mid-May, the Labor Department Thursday. Economists expected the number of claims to drop to 337,000 from the 343,000 originally reported for the week ended June 29. The number of filings for that week was revised up to 344,000.

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Job Openings Edge Up in May, Hiring Strong

The number of job openings edged up in May, increasing for the for the first time since February as hirings continued to improve, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). According to the JOLTS, report, the number of persons unemployed for each job opening in May remained at April's level of 3.07 but was down from 3.09 in February.

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Payrolls Up 195k, Unemployment Rate Flat in June

Adding new pressures for the Federal Reserve, the nation's economy added 195,000 jobs in June, leaving the unemployment rate unchanged at 7.6.percent, the Bureau of Labor Statistics reported Friday. While the unemployment rate was unchanged, the broader employment-population ratio improved to 58.7 percent. The Fed has been looking to improvements in the labor market for a sign it should begin to reduce its program of stimulative monetary policy.

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First-Time Jobless Claims Continue Downward Trend

First-time claims for unemployment insurance fell for the fourth time in the last five weeks, dropping 5,000 to 343,000 for week ending June 29, the Labor Department reported Wednesday. Economists expected 345,000 claims. Claims filings for the week ending June 22 were revised up to 348,000 from the originally reported 346,000.

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Commentary: Drumbeats of a Coming Slowdown

The reaction to Thursday's report on personal income and spending for May was generally positive. Personal income rose 0.5 percent from April--five times what was expected--and personal consumption expenditures (or PCE) were up 0.3 percent, matching economist forecasts.

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Calendar Boosts May Incomes; Spending Increases

With a boost from the calendar, personal income rose 0.5 percent in May faster than economists had forecast while personal consumption went up 0.3 percent, as expected, the Bureau of Economic Analysis reported Thursday. Data for April was revised to show income grew $18.3 billion instead of the originally reported $5.6 billion decline. Data on spending for April was unchanged. Data for April was revised to show income grew $18.

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