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Econ News You Can Use
Category: Unemployment
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The jobs report released last Friday by the BLS reported a drop in the unemployment rate in December from 7% to 6.7%. The decline is pictured below. Sounds like really great news, right? After all, the unemployment rate hasn't been this low in five years! Still, here are the reactionary headlines in the financial news…
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The latest jobs report shows the unemployment rate dropped to 7.0% in November, the lowest level in five years. In addition, the economy added 203,000 more jobs. The last time the unemployment rate was this low was in the worst period of the Great Recession. During the fourth quarter of 2008, the unemployment rate climbed…
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The unemployment rate edged up slightly in October, but nonfarm employment rose by 204,000, according to the jobs report issued today by the BLS. The unemployment rate (pictured below) edged up from 7.2% in September. The news isn't all bad as nonfarm employment growth was higher than it has been for all but two months…
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The September jobs report shows a slight decline in the unemployment rate for September, as the rate fell to 7.2%. Over the past year, it has fallen by 0.6%, as it was 7.8% in September of 2012. The graph below shows the unemployment rate since the beginning of 2003. Other important statistics from this report:…
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Today, the Fed announced that they will continue to buy $85 billion worth of securities per month "until the outlook for the labor market has improved substantially in the context of price stability." This is a change of plans for the Fed. This summer, they announced that they had planned to taper (decrease) these purchases as…
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The unemployment rate in Greece rose to 27.9% in June. It is worst among young adults: Data showed those aged 15 to 24 remained the hardest-hit as the jobless rate in this age group, excluding students and military conscripts, registered 58.8 percent. The Greek economy is in its sixth year of recession. That's going to…
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The labor force participation rate is the lowest that it has been since 1978. The graphic below shows how it has fallen since 2003. Brad Plumer at the Washington Post offers three good reasons for this decline: America is aging; baby-boomers are now retiring. Though this is certainly true, it, alone, is not enough to…
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This morning, the BLS released the jobs report for August. The good news is that the unemployment rate dropped to 7.3%, the lowest level in the United States in almost five years (December 2008). But, to be frank, the jobs report offers some other figures that indicate the economy is not growing robustly. First, consider…
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