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In August, the unemployment rate jumped 0.3 points, from 3.5% 3.8%, as the number of long-term unemployed increased, the U.S. Bureau of Labor Statistics (BLS) reported Friday. The nation’s unemployment rate jumped 0.3 percentage point to 3.8% in August, as the number of unemployed persons increased by 514,000 to 6.4 million. Among the unemployed, the number of job losers and persons who completed temporary jobs increased by 294,000 to 2.9 million in August, offsetting a decrease of 280,000 in July. The rise in the unemployment rate, coupled an increase in job losers, highlights ongoing challenges in the economy. Meanwhile, the...

The U.S. economy added 187,000 jobs in August, Labor Department data released Friday showed, a hopeful sign for investors and Americans looking for the Federal Reserve to ease up on interest rate hikes. The U.S. added 187,000 jobs to the economy in August, according to Labor Department data released Friday morning, outperforming economists’ expected 170,000 additional jobs. The unemployment rate now sits at 3.8%, up from 3.5% in July when 5.8 million people were unemployed.

A group of California Democrats are expected to propose handing out unemployment benefits to striking workers. Language expected to be released in the coming days or weeks to provide striking workers with benefits from California's unemployment insurance program that is $18 billion in debt. The move comes amid historic strikes by both screenwriters and actors, forcing many movies and TV shows to halt production. "It would allow individuals on strike who are not looking for work and were not let go through no fault of their own to claim unemployment insurance as if they were truly unemployed," California Chamber of...

A TikTok video showing a massive queue of people waiting to attend a McDonald’s job fair has gone viral, highlighting the difficulty of finding work. The video, posted by user cshibz on July 28, shows a long line of people stretching down the street outside the St. Louis Adult Learning & Continuing Education Centre in Kitchener, Ontario, where the fast-food chain was holding a hiring event. The on-screen caption reads, “When you come for a McDonalds job fair and there’s like 300 people lined up down the street.” She continues: “Its literally impossible to find a job here! This was...

The state of Illinois improperly paid out billions of unemployment tax dollars during the COVID-19 pandemic, with tens of millions going to people who were either dead or in prison, according to a newly released audit. The Illinois auditor general on Wednesday published a report that showed how the state agency that distributes unemployment benefits issued “overpayments” to the tune of $5.2 billion in fraudulent or excessive claims from fiscal year 2020 to fiscal year 2022. The report is the fullest accounting yet of the large-scale fraud and overpayments that occurred in Illinois during the pandemic. Of the $5.2 billion,...

Despite the many economic challenges people are facing today, including stubbornly high inflation and 401ks that are still reeling from the worst stock market drop since 2008 , many contend that we’re witnessing the triumph of “Bidenomics.” The White House has been touting statistics showing 13.2 million jobs have been created during the Biden administration and that the unemployment rate fell to 3.6% in June. Not bad, right? At least some seem to think so. “America under President Biden has better employment numbers … than the America of 1984 when President Reagan ran morning in America ads touting the economy,”...

The U.S. added 209,000 jobs in June, and the unemployment rate dipped to 3.6 percent, according to data released Friday by the Labor Department. Economists expected the U.S. to add roughly 240,000 jobs last month and for the jobless rate to fall to 3.6 percent, according to consensus estimates, down from 3.7 percent in May. Despite persistent recession warnings and rapid Federal Reserve rate hikes, the U.S. economy has remained sturdy throughout 2023. The U.S. has added an average of 278,000 jobs per month this year, down from 399,000 per month in 2022 but well above the level needed to...

Our long slide toward economic oblivion continues, and survey after survey has shown that most Americans are deeply unsatisfied with the current state of the U.S. economy. Inflation is out of control, most Americans are getting poorer due to the rapidly rising cost of living, the housing bubble has started to burst, and the commercial real estate market is a giant mess. But employment is supposed to be our bright spot. The Biden administration continues to tell us that the unemployment rate is less than 4 percent and that there are lot of jobs available for those that want them....

With graduation less than a month away, many college students in China are still scrambling to find a job.At a free live-stream webinar by a jobseeker training company in mid-June, many of the 800 participants—primarily unemployed 2023 and 2022 graduates—logged eager comments to claim free templates for resumes.“Many of my trainees told me that they live with their parents, who had been scolding them for not trying hard enough to land a job,” the host told the attendees.“I can tell them [parents]: finding a job this year is challenging. It’s the market; it’s not you,” the host added. “Forwarding my...

The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy. The Labor Department reported Thursday that U.S. applications for jobless claims were 261,000 for the week ending June 3, an increase of 28,000 from the previous week’s 233,000. Weekly jobless claims are considered representative of U.S. layoffs. The four-week moving average of claims, which evens out some of the weekly variations, rose by 7,500 to 237,250. […] The U.S. economy grew at a lackluster 1.3% annual rate from...

California’s State Senate passed a bill last week to give unemployed illegal migrants $300 weekly unemployment checks for up to 20 weeks, despite the fact that the state faces a $32 billion budget deficit. As Breitbart News reported last month: California’s fiscus has fallen in the space of one year from a surplus of $100 billion, partly based on federal cash for coronavirus relief, to a staggering deficit of $32 billion. In his revised budget, Gov. Gavin Newsom (D) cautioned legislators to maintain “prudence.” But under SB 227, “excluded” workers who are in the country illegally would be able to...

The unemployment rate is continuing to hold close to its lowest level in 70 years, despite a slight uptick last month. This might seem like good news, but it has two groups of Americans deeply troubled. One is the business community, which counts on a surplus of available workers to keep wages down. The other, unfortunately, is mainstream economists—and the policy makers who listen to them. Federal Reserve Chair Jerome Powell has linked low unemployment to high inflation, publicly discussing the need to restore “balance” to the labor market—meaning increase unemployment and suppress wage growth—to tame consumer prices. A director...

US Defense Secretary Lloyd Austin saying the US will not stand for 'coercion and bullying' from China... US politics the Republican National Committee setting rules for the first debate among presidential contenders... In Canada a convicted serial killer moved from a high security prison to a medium security facility... A federal judge in Miami giving a life sentence to Haitian-Chilean businessman Rodolphe Jaar... Fitch Ratings keeping the credit rating of the United States on "Ratings Watch Negative". This follows the bipartisan deal in Washington for the federal government to spend more money...Joe Biden speaking at 7 pm this evening to...

The number of Americans filing new claims for unemployment benefits increased more than expected last week, further evidence that labor market conditions were easing as higher borrowing costs dampen demand in the economy. The slowing momentum in the economy was underscored by other data from the Labor Department on Thursday showing producer prices unexpectedly falling in March, with underlying producer inflation subsiding. Still, the labor market and inflation are not cooling fast enough to stop the Federal Reserve from raising interest rates one more time next month. “Fed officials couldn’t ask for better data today as the economy looks like...

The US Department of Labor just reported a large increase in the number of initial and continuing jobless claims. But the real story is that the increase actually happened 3 weeks ago and they are just now changing the data. Did they intentionally mislead the public about the "strong jobs market" in order to stop the bank run? YouTube Video

The local unemployment rate has hit its highest level in nearly a year. The State Labor Department says the preliminary jobless rate for the Rochester metro stood at an even 4 percent in January. That's more than a full percentage point higher than the previous month. It's also the highest since last February,

The U.S. economy added 311,000 jobs in February and the unemployment rate rose to 3.6 percent, according to data released Friday by the Labor Department. Economists had been expecting around 225,000 jobs to be added in February and for the unemployment rate to remain at 3.4 percent. Despite the strong headline jobs gain, the report showed signs labor market may finally be buckling under the pressure of eight consecutive interest rate hikes by the Federal Reserve. Average hourly earnings—a measure of wages—rose 0.2 percent in February to land at a 4.6-percent annual increase, falling below expectations. That means wage pressures...

All nine states with the lowest annual average unemployment rates for 2022 had Republican governors during that year, while all ten states with the highest annual average unemployment rates had Democratic governors. The Bureau Labor Statistics on Wednesday published the annual average unemployment rates for all fifty states.

It appears that the tsunami of layoffs that started late last year is starting to accelerate. January was a horrible month for job losses, and major layoff announcements are coming fast and furious here in February. But of course the Biden administration would have us believe that everything is just fine. Last week, the government told us that the U.S. economy “added 517,000 jobs” in January. But as I discussed in a previous article, that wasn’t what actually happened. The raw, unadjusted number showed that the U.S. economy actually lost 2.5 million jobs last month. That is a terrible number,...

Biden’s State of the Union address saw him bragging about his record job creation (actually, it was the private sector, not Biden than created jobs) and historic unemployment rate. What Biden didn’t mention (along with not discussing the porous Mexican border with fentanyl pouring across or why he failed to shoot down a Chinese spy balloon until after it has passed over numerous military reservation) is that the unemployment rate always hit a low point just prior to a recession. So, here we sit at 3.4% unemployment. But we also see the US Treasury yield curves (10Y-3M and 10Y-2Y) remaining...