It’s no secret that US businesses are struggling to find workers. Recent surveys have shown that small businesses are reporting record job openings.
Many have described the phenomenon as a labor shortage.
“Walk outside: labor shortage is the pervasive phenomenon,” economist Lawrence Summers recently observed at a conference hosted by the Federal Reserve Bank of Atlanta.
Read More
The states of South Carolina and Montana have both decided in recent days to put an end to their handouts of federal unemployment benefits as a result of the coronavirus pandemic, in an effort to encourage residents to return to the workforce, as per CNN.
Montana Governor Greg Gianforte (R-Mont.) said in his announcement that “incentives matter, and the vast expansion of federal unemployment benefits is now doing more harm than good. We need to incentivize Montanans to return to the workforce.” Instead, Governor Gianforte announced that the state government will be providing $1,200 checks as bonuses to every citizen who returns to work, using the state’s share of the recent $1.9 trillion stimulus package to pay for it.
In South Carolina, Governor Henry McMaster (R-S.C.) announced on Thursday that the state would be ending their share of federal unemployment benefits, since “what was intended to be a short-term financial assistance for the vulnerable and displaced during the height of the pandemic has turned into a dangerous federal entitlement, incentivizing and paying workers to stay at home rather than encouraging them to return to the workplace.”
Read More
The U.S. economy reported an increase of 266,000 jobs in April and the unemployment rate rose slightly to 6.1%, according to Department of Labor data released Friday.
Total non-farm payroll employment increased by 266,000 in April, according to the Bureau of Labor Statistics (BLS) report, and the number of unemployed persons ticked up to 9.8 million. Economists projected a million Americans would be added to payrolls prior to Friday’s report, according to The Wall Street Journal.
“The pieces are really coming together for a burst in activity,” Sarah House, senior economist for Wells Fargo’s Corporate and Investment Bank, told the WSJ. “We’re expecting to see the labor market recovery shift into an even faster gear with the April jobs report.”
Read More
The U.S. economy reported an increase of 916,000 jobs in March and the unemployment rate fell to 6%, according to Department of Labor data released Friday.
Total non-farm payroll employment increased by 916,000 in March, according to the Bureau of Labor Statistics (BLS) report, and the number of unemployed persons fell to 9.7 million. Economists projected 675,000 Americans would be added to payrolls prior to Friday’s report, according to The Wall Street Journal.
“There’s a seismic shift going on in the U.S. economy,” Beth Ann Bovino, an economist at S&P Global, told the WSJ.
Read More
The number of Americans filing new unemployment claims dropped to 684,000 last week as the economy continued to slowly recover from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a large decrease in the number of new jobless claims compared to the week ending March 13, when 781,000 new jobless claims were reported. That number was revised up from the 770,000 jobless claims initially reported last week.
Read More
President Joe Biden on Thursday signed into law a $1.9 trillion stimulus bill that includes extended unemployment benefits, direct funding to states and municipalities, and $1,400 checks for most Americans.
“This historic legislation is about rebuilding the backbone of this country and giving the people of this nation – working people, middle-class folks, people who built the country – a fighting chance, that’s what the essence of it is,” Biden said in the Oval Office before signing the bill.
Read More
The biggest gap in understanding how business truly works exists between two distinct groups of people: Those who have made a payroll and those who haven’t.
Anyone who has run a business – small or large – would only be glad to tell you that it is equal parts fulfilling and terrifying.
Read More
The number of Americans filing new unemployment claims decreased to 900,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending Jan. 16, in which there were 965,000 new jobless claims reported. Roughly 16 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.
Read More
The number of Americans filing new unemployment claims decreased to 787,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented a decrease of new jobless claims compared to the week ending Dec. 26, in which there were 803,000 new jobless claims reported. Roughly 19.6 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.
Read More
The number of Americans filing new unemployment claims decreased to 803,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented a decrease of new jobless claims compared to the week ending Dec. 12, in which there were 885,000 new jobless claims reported. Roughly 20.4 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.
Read More
The number of Americans filing new unemployment claims increased to 885,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented an increase of new jobless claims compared to the week ending Dec. 5, in which there were 853,000 new jobless claims reported. Roughly 20.6 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.
Read More
The number of Americans filing new unemployment claims increased to 853,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented a large increase of new jobless claims compared to the week ending Nov. 28, in which there were 712,000 new jobless claims reported. New jobless claims had stayed below 800,000 for more than a month prior to the report.
Read More
The number of Americans filing new unemployment claims decreased to 751,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a decrease of new jobless claims compared to the week ending Oct. 17, in which there were 787,000 new jobless claims reported. The figure released on Oct. 22 was the lowest since March, according to CNBC.
Read More
There were only two insightful reports on the economy this past week—for jobs and housing. Both show impressive gains.
Weekly initial unemployment claims fell by 56,000, to 787,000. They are down more than 100,000 from a month ago. There has also been a substantial decline in the insured unemployment rate to 5.7 percent from 8.7 percent a month ago. Also, the number of people receiving unemployment insurance payments fell to 8.4 million; it was 12.6 million a month ago.
Read More
The number of Americans filing new unemployment claims decreased to 787,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a decrease of new jobless claims compared to the week ending Oct. 10, in which there were 898,000 new jobless claims reported. Thursday’s figure was the lowest since March, according to CNBC.
Read More
Small business relief, supporting 5.2 million small businesses and 50 million jobs, ran out on Aug. 8 and airlines ran out of money last month as massive layoffs have been ensuing.
In the meantime, House Speaker Nancy Pelosi (D-Calif.) continues to refuse a deal from President Donald Trump to extend these CARES Act programs — even if it means she loses a few seats in the House over it.
Read More
Nearly 900,000 American workers filed new claims for unemployment benefits last week, an increase of 53,000 new claims from the week prior and a sign that the U.S. economy has a long way to go to recovery.
According to U.S. Department of Labor satistics released Thursday, 898,000 new claims were filed in the week ending Oct. 10, when seasonally adjusted. That’s up from the previous week’s revised level of 845,000 claims.
Read More
An additional 840,000 American workers filed initial unemployment claims in the week ending Oct. 3, down about 9,000 from the previous week’s revised number but still well above pre-pandemic levels.
According to the U.S. Department of Labor, the advance seasonally adjusted unemployment rate was 7.5 percent for the week ending Sept. 26, a decrease of 0.7 percentage points from the prior week. Unemployment rate data lags the new initial claims report by a week.
Read More
Is New York committing suicide?
That’s a fair question in the wake of the relentless pandemic choking major American cities. The Big Apple is plagued with joblessness, peaking with a 20% unemployment rate this summer, double the national rate.
Read More
Another 275,000 jobs were added to the U.S. economy in the month of September, according to the Bureau of Labor Statistics’ (BLS) household survey, and 661,000 in the establishment survey, adding to the miraculous economic recovery that has taken place since COVID-19 lockdowns this spring as now states and businesses continue reopening at a rapid clip.
Read More