UnemploymentRate posts
FeedPosted Oct 20th 2009 3:00PM by Tom Johansmeyer (RSS feed)
Filed under: Employees, Economic data, Personal finance, Recession
Some of the jobs that have disappeared through this recession are gone forever, it seems. Even when the market turns, and even gains momentum, we could be stuck with a fairly weak employment market for a while. The recovery will take longer than we'd like, putting more distance between now and the top of the next market run. We've lost 7.2 million jobs since December 2007, and the predictions of some economists that we'll get them back by 2014 may actually seem optimistic.
Unemployment is at 9.8%, and it's expected to clear 10% early next year. Then, we have the specter of a jobless recovery with which to contend. "Full employment" is often considered to be an
unemployment rate of 4% to 5%, but it could be a while before we get there. The last downturn, following the
dotcom bust, resulted in a peak unemployment rate of 6.3% in 2003 ... and we're already well past that.
Why is the recovery going to be such a grind? Check out the four major reasons after the jump.
Continue reading Four reasons we're stuck with high unemployment for a while
Posted Oct 13th 2009 9:30AM by Tom Johansmeyer (RSS feed)
Filed under: Bad news, Economic data, Recession
It's going to get worse before it gets better, according to Stone & McCarthy Research. Early 2010 has "the more troublesome outlook," as the economy will have to walk on its own, the research firm says. This year, it's had a pair of crutches: tax credits for first-time home buyers and the cash-for-clunkers program. So, if the stimulus hasn't taken hold by the end of the year, the first quarter could be a bruiser.
The firm adds that "continued growth in aggregate demand" is needed, bringing the discussion back to consumer spending . . . which is where it will always land. We're likely to see the 3.2% growth rate from July through September drop to 2.4% at the end of the year because the crutches will have been gone. And, let's not forget that unemployment is expected to break the 10% level next year.
Continue reading Stone & McCarthy suggest: Make it to March
Posted Oct 12th 2009 2:50PM by Tom Johansmeyer (RSS feed)
Filed under: Employees, Economic data, Recession, Financial Crisis
We've watched stock market numbers bounce around for two years. Unemployment stats have served as unpleasant reminders that, for some, leading indicators haven't translated to reality. We look for so many ways to understand the brutal economic environment with which we've had to contend, and all the choices can make your head spin. So, let's make it simple. Here are eight ways to tack a label onto the financial world in which we live.
1. Lost market value
Total stock market losses from October 2007's top to March 2009's bottom: $11.2 trillion
Total gains in the stock market since the bottom: $4.6 trillion
Lost ground: $6.6 trillion
2. Bad days
Percentage of the 10 worst days in history for the Dow Jones Industrial Average that happened in 2008, by point drops: 60%
Percentage of the 10 worst days in history for the DJIA that happened in 2008, by percentage drops: 30%
3. Mutual funds
Value of mutual fund assets at the end of 2007: $6.5 trillion
... and a year later: $3.7 million
Lost value: $2.8 trillion
But, it got a little better at the end of August 2009: $4.5 trillion (value of assets)
Continue reading Eight ways to define the recession
Posted Oct 2nd 2009 10:00AM by Tom Johansmeyer (RSS feed)
Filed under: Employees, Economic data
Unemployment is at its highest level since 1983, hitting 9.8% last month. The Department of Labor announced that 263,000 jobs were lost. This follows a revised loss of 201,000 jobs in August (lower than first reported). Nobody expected the August unemployment reprieve to last, and the increase suggests that the forecasted 10.3% unemployment rate for early next year will be realized.
Originally, the forecasted unemployment drop for September was 175,000, according to Bloomberg News, with individual economists surveyed reporting in a range of 100,000 to 260,000.
Continue reading Unemployment rate hits 9.8%
Posted Oct 1st 2009 10:10AM by Connie Madon (RSS feed)
Filed under: Forecasts, Employees, Economic data, Recession
The Labor Department reported that initial claims for unemployment rose to 551,000 from 534,000 in the previous week, much more than the 5,000 economists had expected. The number remaining on the rolls fell by 70,000 to 6.09 million, but this statistic likely is unreliable because of all the people who have exhausted their benefits.
Congress has added 53 weeks of benefits on top of the the usual 26 weeks. Now with thousands of people having exhausted their benefits, Congress is considering extending benefits for another 13 weeks.
Continue reading Jobless claims rise more than expected
Posted Sep 8th 2009 2:30PM by Sheldon Liber (RSS feed)
Filed under: Bad news, Rants and raves, Market matters, Economic data, Workspace, Financial Crisis

Last Friday the market reacted favorably (or less negatively) to the latest report from the Labor Department's unemployment figures of 9.7 percent in August, as employers cut 216,000 jobs last month. The percentage is up but the raw numbers are trending down allowing for a sigh of relief on Wall Street with the major indices all up over 1%.
Many would argue that when it comes to the truth, the government is prone to favor aesthetic figures
instead o
f the straight data. I tend to agree with this view as the numbers appear sculpted to be the least offensive.
Continue reading Labor-less Day
Posted Jun 11th 2009 2:30PM by Connie Madon (RSS feed)
Filed under: Economic data, Personal finance, Recession

Can you figure out what these unemployment numbers mean? The
headline reads that initial claims for state unemployment insurance benefits fell 24,000 to 601,000. This is being hailed as a piece of good news because analysts were expecting claims to drop to 615,000. In all fairness claims were down from the 621,000 the previous week.
The number of people staying on the unemployment rolls after collecting their initial week of unemployment rose to 6.82 million in the week ending May 30th.
Continue reading Initial jobless claims were at 601,000 last week
Posted May 27th 2009 11:20AM by Mark Fightmaster (RSS feed)
Filed under: Analyst reports, Forecasts, Economic data, Recession
It appears that a majority of economists believe that the current recession in the United States is
going to end this year. The National Association for Business Economics (NABE) will release today a survey that reflects this belief and is in line with a forecast from Fed Chairman Ben Bernanke and others.
According to the survey, 74% of the forecasters believe the recession will end in the third quarter, with 19% pegging the fourth quarter as the final quarter for the recession. The remaining 7% believe the first quarter of 2010 will be the recession's swan song.
Continue reading Will the recession end in 2009?
Posted May 21st 2009 11:50AM by Connie Madon (RSS feed)
Filed under: Bad news, Economic data, Recession
U.S. weekly new jobless claims dropped just a tad by 12,000 to 631,000 in the week ending May 16. The four-week average, which smooths out the numbers, showed a drop of 3,500 to 628,500.
Much of the damage was done by job cuts from the Big Three with nearly 20,000 claims coming from auto and auto- related industries. Michigan is the hardest hit state with 16,817 in new claims, bringing the unemployment there to 12.9% in April, the highest since 1983.
The unemployment situation is continuing to worsen with Americans still claiming unemployment reaching new highs, climbing to 6.66 million up from 6.58 million the week before.
Continue reading US weekly jobless claims ease but unemployment still at record levels
Posted May 11th 2009 11:00AM by Mark Fightmaster (RSS feed)
Filed under: Economic data

While many people were enjoying time with their families on Mother's Day, the White House released a bit of news that may fly under the radar of some. According to
The New York Times, President Obama's chief economics forecaster Christina Romer, chairwoman of the White House Council of Economic Advisers, announced that she
expects unemployment to continue rising, even after the economy turns.
Romer stated that the GDP has to grow at a rate of about 2.5% before unemployment will start to wane. That said, Romer believes that it is "unfortunately pretty realistic" that unemployment may reach 9.5%. This revelation follows last Friday's data showing that unemployment was 8.9% in April -- the highest level in 25 years.
Continue reading White House expects no job growth until 2010
Posted Apr 2nd 2009 4:30PM by Alex Salkever (RSS feed)
Filed under: Deals, Bad news, Newspapers, New York Times'A' (NYT), Morgan Stanley (MS), Economic data, Technology, Recession, Financial Crisis
Continue reading Doomsday Scenario: Higher unemployment, no IPOS, Twitter DOA -- already
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