unemployment

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Stocks Up on Sunny Jobs Data
 Stocks Up on Sunny Jobs Data 
Market Open
May 7, 2009 8:43 AM CDT

Stocks Up on Sunny Jobs Data

(Newser) - Stocks were up again this morning, after promising unemployment numbers, the Wall Street Journal reports. The Dow rose 53 points, while the Nasdaq and S&P advanced 0.5% and 1% respectively. Wal-Mart reported a strong quarter, pulling retail stocks higher, while banks shot up ahead of stress test results....

Hiring Healthy, Even During Downturn

Dire employment figures disguise huge amount of vacancies opening up

(Newser) - Grim unemployment figures are disguising the fact that hiring has stayed surprisingly strong in the midst of the worst postwar recession, economists tell the New York Times. In February—long before any hint of recovery emerged—4.8 million workers lost their jobs, but 4.3 million people were hired,...

3 Million US Job Openings Isn't a Good Thing
3 Million US Job Openings Isn't
a Good Thing
ANALYSIS
May 1, 2009 2:26 PM CDT

3 Million US Job Openings Isn't a Good Thing

Figure shows troubling disconnect between employers, workers

(Newser) - Even with the unemployment rate shattering records, 3 million jobs nationwide remain unfilled. But the growing mismatch between employers and workers tarnishes that silver lining, Peter Coy argues in BusinessWeek. Untrained job-seekers often don’t have necessary skills to work in growing sectors like health care and accounting, and employers...

For Bush Veterans, DC Jobs Are Scarce

Former administration officials find bad economy, overwhelmed job market

(Newser) - Former Bush administration staffers are feeling the economic pinch as acutely as other victims of the sagging economy, Politico reports. GOP job-seekers in Washington face a triple whammy of economic chaos, minority status on Capitol Hill, and an excess of qualified Republicans. “The Washington side is a bit of...

Recession-Wary Teens Cut Back on Spending

Teens spend less on food, apparel while video games and DVDs still popular

(Newser) - The downturn is causing teens, who usually spend through recessions while parents absorb the pinch, to cut back, Advertising Age reports. Teenagers are spending about 14% less this spring than last, a “dramatic impact” from a demographic that spends an average of $125 billion each year. Unemployment is also...

Laid-Off Execs Try Fatherhood

Mr. Moms confess new gig hurts the ego

(Newser) - Jobless Mr. Moms are becoming more prevalent at school pickup time and PTA meetings in Pelham Manor, a posh New York suburb where hedge-fund managers and execs raise families. Their blunt decisiveness is a remnant of once-successful careers, and while PTA moms welcome their help, they worry for them, too....

Obama's Earth Day Pitch: 'New Energy Economy'

America must choose a 'new energy economy,' he says

(Newser) - President Obama returned to Iowa—his crucial campaign battleground win—for Earth Day, hailing the “new, clean energy economy” and unveiling an offshore wind project. “It is time for us to lay a new foundation for economic growth by beginning a new era of energy exploration,” he...

Japan Pays Latin American Workers to Go, Stay Home

Plan hatched to ease recession burdens

(Newser) - Faced with rising unemployment, Japan is paying foreign workers to leave the nation for good, the New York Times reports. The offer targets some 366,000 Latin Americans of Japanese descent who perform undesirable manufacturing jobs. With industrial production at a 25-year low, many of them are out of work,...

Spanish Price Collapse Could Signal New Global Woes

'It’s like the front line of a new virus outbreak'

(Newser) - Spain has suffered a major blow from the global economic crisis, with sky-high unemployment that could soon reach 20%, and merchants across the country are taking a drastic step: slashing retail prices. While lower costs in shops and restaurants might sound appealing, it's actually very bad news—the first sign...

Men Hit With 80% of US Layoffs
 Men Hit With 80% of US Layoffs 
Apr 20, 2009 10:33 AM CDT

Men Hit With 80% of US Layoffs

The gap between male and female unemployment is the widest on record

(Newser) - Of the 5.1 million US jobs that have evaporated since the recession began, men have lost nearly 80% of them, the Financial Times reports, resulting in the widest gap between unemployment rates for men and women since recordkeeping began a half-century ago. Layoffs have nudged the male unemployment rate...

Calif. Unemployment Hits Record 11.2%

(Newser) - The unemployment rate in California rose to 11.2% in March, the Los Angeles Times reports today. A loss of 62,100 jobs puts the state at the highest jobless level since 1976, when recording started. It trails only Michigan (12.6%), Oregon (12.1%), and South Carolina (11.4%)....

Jobless Japanese Work the Land

$10M government program trains new agricultural force

(Newser) - As their country struggles with its worst recession since World War II, many Japanese city slickers stymied by the job market are trying out the farming life, the Wall Street Journal reports. Aiming to rejuvenate an industry in which two-thirds of full-time workers are 65 and older, the government has...

'Glimmers' of Economic Hope, But Work's Not Done: Obama

(Newser) - After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.”...

Etiquette for 2009: Don't Mention Your Job

Unemployment straining friendships

(Newser) - The onetime small-talk staple “So, how's the job going?” is liable to get you into trouble these days, reports Newsweek. Rising unemployment is straining friendships as the haves learn to interact with the have-nots. Among 30- and 40-somethings, discussing luxurious vacation plans is not a good idea, and for...

Turnaround? Don't Get Too Giddy Just Yet

Further decline still possible, they warn

(Newser) - Signs of an economic recovery seem to be sprouting all around, but plenty of skeptics warn against starting the celebration too early, reports the New York Times. Wall Street has been on the upswing the last two months as the credit market begins to thaw and low interest rates aid...

Cash-Strapped States Raise Taxes as Revenue Declines

At least 10 states face substantial budget gaps

(Newser) - A precipitous decline in tax revenue has at least 10 states considering major increases in sales or income taxes to close budget gaps that in some cases run into the billions, the Wall Street Journal reports. States like Oregon, facing a $4.4 billion budget gap and 10.8% unemployment,...

Salaries Down $1,100 for This Year's Grads

Credentialed jobs are faring best in downturn

(Newser) - More bad news for 1.5 million college seniors graduating this year into a tough job market: Less money. The average salary offer to a new recipient of a bachelor's degree is $48,515, down 2.2% from last year's $49,624, says a survey by the National Association of...

Seeking an Edge, Job Seekers Try Plastic Surgery

Some use loans to finance the investment

(Newser) - Job seekers perking up their resumes with literal facelifts are stimulating the plastic surgery industry even in the grip of the recession, Reuters reports. "People cannot only rely on their skills in this market," says a surgeon whose $6,000 facelift option is popular with the unemployed. The...

Top CEOs Expect to Cut More Jobs

(Newser) - The unemployment rate now stands at a 25-year high of 8.5%, but the nation's CEOs say it's only going to get worse. Nearly three-quarters of the leaders of the nation's biggest companies expect to lay off more workers in the next 6 months, USA Today reports. That percentage—71%—...

Layoffs Will Trigger Layoffs: Economists

(Newser) - Unemployment has hit a 25-year high, but analysts say it will worsen as job cuts force consumers to cut back, triggering yet more payroll reductions, Bloomberg reports. Manufacturers, service providers, and even the US Postal Service are planning to lay off workers in the face of declining consumer demand. “...

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