The May jobs report from the Bureau of Labor Statistics was surprisingly strong judging from the headline numbers. As Michael Eisenband of FTI Consulting explains, a more thorough reading of the report shows that the unemployment rate was not entirely accurate. He points out the discrepancies and explains how this “economic happy talk” could lead to painful results in the long-term.
The Federal Reserve raised interest rates by a quarter-point, its first rate hike this year, in a decision that was widely anticipated by markets.
In the week ending March 14, the advance figure for seasonally adjusted initial claims was 291,000, unchanged from the previous week, signaling the labor market remains resilient even as the economy cools.
In the week ending February 7, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 25,000 from the previous week’s revised level, according to a U.S. Labor Department report.
According to a labor department report, fewer Americans filed for unemployment benefits last week as the need to retain staff keeps firings at the lowest levels in more than a decade.
According to a labor department report, fewer Americans filed for unemployment benefits last week as the need to retain staff has kept firings at the lowest levels in more than a decade.
The Labor Department announced the nation’s economic recovery continued in September with the addition of 248,000 new jobs. The unemployment rate fell to 5.9%, its lowest level since July 2008.
Jobless claims fell by 27,000 to 300,000 in the week ended May 24. The four-week average declined to the lowest level since August 2007, before the last recession began, according to a Bloomberg report.
Though jobless claims increased by 28,000 to 326,000 in the week ended May 17, 2014, continuing claims fell to the lowest since December 2007, Bloomberg reported.
The U.S. Bureau of Labor Statistics said total nonfarm payroll employment rose by 288,000, and the unemployment rate fell to 6.3% in April, the lowest since September 2008.