unemploymentrate posts
FeedPosted Jan 12th 2010 9:30AM by Tom Johansmeyer (RSS feed)
Filed under: Employees, Economic Data

Nothing comes easily to the job seeker in this market. Though there are signs of stability, unemployment isn't expected to turn the corner until sometime this summer. A new survey that
Challenger, Gray & Christmas revealed to
BloggingStocks finds that 16% of would-be employees believe their hunts will take more than a year. More than half aren't sure when they'll find new positions. The survey was conducted by phone during the 24th annual two-day free job search advice call-in on December 28 and 29.
This year, 81% of the callers were unemployed, an increase from 76% a year earlier and a more modest 55% in 2007. And, confidence was down. Last month, only 12.4% of the callers felt they'd be able to find a job in up to three months, off from 27% in 2008. Those who thought it would take between four and seven months fell from 31% in 2008 to 12.2% in 2009.
Continue reading Half of Job Hunters Have No Idea When They'll Be Working Again
Posted Nov 16th 2009 5:00PM by Tom Johansmeyer (RSS feed)
Filed under: India, China, Brazil
Now that it's reached 10.2%, the unemployment rate is higher than it's been in 26 years. That puts plenty of people on the hunt for work, especially since the unemployment rate doesn't reflect everyone who's been affected by the recession, such as those who have been unemployed too long or who are underemployed. Lacking alternatives at home, more Americans are heading overseas to find their fortunes weather the storm.
The number of people looking for international work through Manpower Inc. (MAN), the largest staffing firm in the country, has increased over the past six months. Half a year ago, Jeff Joerres, the company CEO, said that only a few dozen were looking for work outside the U.S. Now, it's up to 500. He tells USA Today, "It is a phenomenon we haven't had before."
Continue reading New U.S. export: labor
Posted Nov 13th 2009 5:20PM by Tom Johansmeyer (RSS feed)
Filed under: China, Economic Data
There's always good news, if you're willing to look hard for it. So, even though consumer sentiment dropped as unemployment rose, you can find the seeds of economic recovery in some of the U.S. import and export data reported recently.
Consumer sentiment fell early this month, largely because of the grim outlook for the job market. Consumers don't see a recovery coming anytime soon, with economists saying that unemployment has yet to peak despite having hit 10.2% already. Hopes edged higher in September when imports were seen to be on the rise, but sentiment starts and ends with jobs.
Continue reading Consumer sentiment down, but glimmer of hope in trade data
Posted 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
Next Page >