Tag Archives: Jobs

Superstorm Sandy blew a hole not in the nation's labor market, but in economists' crystal balls as the economy added 146,000 jobs and the unemployment rate fell to 7.7 percent--the lowest level since December 2008, Bureau of Labor Statistics (BLS)reported Friday. Economists had forecast payroll growth of 93,000, down from 171,000 as originally reported for October, and an increase in the unemployment rate from 7.9 percent to 8.0 percent. While the drop in the unemployment rate was a positive sign, it was driven largely by a drop in the labor force.

Continuing to show the recovery from superstorm Sandy, first-time claims for unemployment insurance fell 25,000 to 370,000 for the week ending December 1, the Labor Department reported Thursday. Economists expected 380,000 initial claims filings. The previous week's report was revised upward to 395,000 from the originally reported 393,000.

First time claims for unemployment insurance fell 23,000 to 393,000 for the week ended November 224, the Labor Department reported Thursday. The previous week’s report was revised upward to 416,000 from the originally reported 410,000. Continuing claims--reported on a one-week lag--fell 70,000 to 3,287,000.

First-time claims for unemployment insurance fell 41,000 to 410,000 for the week ending November 17, the Labor Department reported Wednesday. Economists expected 415,000 initial claims filings. The previous week's report was revised upward to 451,000 from the originally reported 439,000. In addition to the direct impact on businesses, Hurricane Sandy, which ripped through the East Coast on October 29, forced the closing of government offices that process claims filed by telephone or online.

Two weeks after tearing up the East Coast, Hurricane Sandy rocked first-time claims for unemployment insurance. In the first full week after the storm, initial claims shot up 78,000 to 439,000, the highest level since April 2011 for the week ended November 10, the Labor Department reported Thursday. Economists expected 376,000 initial claims filings.

First-time claims for unemployment insurance fell 8,000 to 363,000 for the week ending November 3, the Labor Department reported Thursday. Economists expected 370,000 initial claim filings. It was the third straight weekly decline and the fifth drop in the last seven weeks.

The nation’s unemployment rate inched up to 7.9 percent in October as the economy added 171,000 jobs, the Bureau of Labor Statistics (BLS) reported Friday. The labor force--the sum of employed and unemployed--improved in October, causing the bump in the unemployment rate and signaling renewed confidence among those on the sidelines that jobs are available. Job creation for the two prior months was revised upward: 148,000 in September instead of the originally reported 114,000 and 192,000 instead of the 142,000 reported in August.

First time claims for unemployment insurance fell 9,000 to 363,000 for the week ended October 27, the Labor Department reported Thursday. Economists expected 369,000 initial claims. It was the second straight weekly decline and the fourth drop in the last six weeks.

Consumer spending rose $87.9 billion, 0.8 percent, in September, twice the 0.4 percent growth in personal income, the Bureau of Economic Analysis reported Monday. While the increase in income matched economist expectations, the increase in spending was higher than the forecast. It was the third straight month spending grew faster than income.

First-time claims for unemployment insurance fell 23,000 to 369,000 for the week ended October 20, the Labor Department reported Thursday. Economists expected initial claims to fall to 372,000. The previous week's report was revised upward to 392,000 first-time claims--the highest level since mid-June--from the originally reported 388,000.