US Economy Added just 69K Jobs in May, unemployment at 8.2%

• Dalforce 1941

  1 Jun 12, 21:00

   

  US Economy Added 69K Jobs in May, Fewest in a Year

   

   

  Associated Press

  June 1, 2012, 5:37 a.m.

   

   

  WASHINGTON  — U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering. 
  
  The Labor Department also says the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. 
  
  The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months. 
  
  The economy is averaging just 73,000 jobs per month over the past two months — roughly a third of the jobs created per month in the first quarter. 
  
  Weak job growth could damage President Barack Obama's reelection prospects. Mitt Romney, the Republican challenger, has made the economy the central theme of his campaign. 

  http://www.latimes.com/news/la-fiw-jobs-20120601,0,1813895.story

   

• Nigho17

  1 Jun 12, 21:18

  Time to sell ur shares and property in US

• Dalforce 1941

  6 Jul 12, 21:15

  U.S. economy adds 80,000 jobs in June; unemployment stays at 8.2%

   

  Associated Press

  July 6, 2012, 5:51 a.m.

   

   

  U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is struggling three years after the recession ended. 
  
  The Labor Department said Friday that the unemployment rate was unchanged at 8.2 percent. 
  
  The economy has added just 75,000 jobs a month in the April-June quarter. That's one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year's pace through the first six months of 2012. 
  
  Stock futures fell modestly after the report came out. Dow Jones industrial average futures were down 24 points before the report at 8:30 a.m., and were down 60 points minutes later. 
  
  Yields for government bonds sank, an indication that investors were putting money into the Treasury market. The yield on the 10-year U.S. Treasury note was 1.59 percent just before the report and 1.57 percent after it came out. 
  
  A weaker job market has made consumers less confident. They have pulled back on spending, even though gas prices have plunged. 
  
  High unemployment could shift momentum to Mitt Romney, the presumptive Republican presidential nominee. An Associated Press-GfK poll released last month found that more than half of those surveyed disapproved of PresidentBarack Obama's handling of the economy. 
  
  Dismal June job figures could also prompt the Federal Reserve to take further action to try to boost the economy. The Fed last month downgraded its economic outlook for 2012. It predicted growth of just 1.9 percent to 2.4 percent for the year and little change in the unemployment rate. 
  
  Job gains in April and May were little changed from the department's previous estimates. 
  
  There were some good signs in the report. The average workweek grew to 34.5 hours from 34.4 in May, boosting many workers' paychecks. And average hourly wages rose 6 cents to $23.50. Hourly pay has increased 2 percent in the past year and is ahead of inflation, which has fallen in recent months along with gas prices. 
  
  About one-third of the jobs gained in June were in temporary services. Manufacturing added 11,000, its ninth straight month of gains. But growth in factory jobs slowed sharply in the second quarter compared to the first. Health care added 13,000 jobs and financial services gained 5,000. Retailers, transportation firms and government cut jobs. 

  http://www.latimes.com/news/la-fiw-jobs-20120706,0,2338189.story

   

   

• Dalforce 1941

  27 Jul 12, 22:19

  GDP: U.S. economic growth slowed to 1.5% in last 3 months

  By Michael A. Fletcher, Updated: Friday, July 27, 9:52 PM

  American consumers cut back sharply on spending in recent months, slowing the nation’s already sluggish rate of economic growth.

  The economy grew at an annual rate of 1.5 percent from April through June, the Commerce Department reported Friday, a pace that confirmed fears that the economy continues to sputter.

  A Growth rate below 2 percent isn’t enough to lower the unemployment rate, which was 8.2 percent last month. And few analysts expect the economy to gain momentum in the second half of the year, as concern about debt problems in Europe and the fiscal cliff—a series of tax increases and spending cuts due to take effect in January unless policy makers find an alternative—dampen confidence.

  The estimated rate of economic growth in the second quarter marked the weakest quarterly GDP growth since last fall and promises to sharpen the scrutiny on the President Obama’s fiscal policies.

  The campaign of Republican presidential candidate Mitt Romney seized on the tepid numbers Friday morning, saying they were indicative of the president’s poor economic stewardship.

  “It’s very disappointing for the future of the economy,” R. Glenn Hubbard, Romney’s top economic adviser, said on CNBC. “It’s about half of what potential growth actually is in the American economy, and recoveries should be much more vigorous even after financial crises.”

  The GDP report said consumer spending growth slowed to an annualized rate of 1.5 percent in the second quarter, down from 2.4 percent in the first three months of the year. Consumer spending accounts for 70 percent of economic activity.

  The report also included revised growth estimates for the past three years. The new estimates showed that the economy shrank by 3.1 percent in 2009, slightly less than the 3.5 percent previously reported. Growth in 2010 was 2.4 percent, down from 3 percent, and growth in 2011 was 1.8 percent instead of 1.7 percent.

  The Commerce Department also said that the economy grew slightly more than previously reported in the first three months of 2012, raising its estimate to a 2 percent rate, from 1.9 percent.

  http://www.washingtonpost.com/business/economy/gdp-us-economic-growth-slowed-to-15percent-in-last-3-months/2012/07/27/gJQAK8diDX_story.html

• Dalforce 1941

  4 Aug 12, 00:50

   

  U.S Economy Creates 163,000 New Jobs in July but unemployment Rate Rises to 8.3%

  The U.S. economy followed up a weak second quarter by creating more jobs than expected with 163,000 new positions added in July, but the unemployment rate rose to 8.3 percent.

   

  Markets reacted positively to the announcement, with the stock market surging at the open and safe-haven bond prices plunging. Economists had been expecting 100,000 new jobs.

  As the country struggles to gain growth traction, the unemployment rate held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics.

  "I'd call this a soft 163," said Steve Blitz, chief economist at investment research firm ITG in New York. "If you want to take from this the notion that the economy is not heading to a recession or something more ominous, that's fine. But if you want to take from this the idea that the economy is about to accelerate, I think that would be a big mistake."

  Despite the seemingly good news, the report's household survey showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.

  The household survey also showed 150,000 fewer Americans in the workforce.

   

  In all, the government said private payrolls added 172,000 positions — about in line with Wednesday's report from ADP and Macroeconomic Advisors — while government subtracted 9,000.

  "While the monthly gain is still relatively small by historical standards, it might help spark somewhat higher consumer optimism and spending," Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in response to the report.

  At this point, all economic reports and particularly the jobless number are viewed through the prism of how they might affect Federal Reserve action.

  The Fed this week offered little direction other than to affirm that it stood at the ready to provide more quantitative easing stimulus if needed. But Chairman Ben Bernanke may add more to the conversation during the annual summit in Jackson Hole, Wyo., later this month, and the central bank's policy committee meets again in September...

  http://www.cnbc.com/id/48480887

   

   

   

   

• Dalforce 1941

  7 Sep 12, 21:44

  U.S. economy adds 96,000 jobs in August, unemployment rate falls to 8.1%

  WASHINGTON - U.S. employers added 96,000 jobs last month, a weak figure that could slow any momentum President Barack Obama hoped to gain from his speech to the Democratic National Convention.

  The unemployment rate fell to 8.1 percent from 8.3 percent in July, but only because more people gave up looking for work. The government only counts people as unemployed if they are actively searching.

  The Labor Department also says 41,000 fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the beginning of the year, below 2011's average of 153,000.

  The bleak report comes just two months before Election Day, and the economy is the top issue on most voters' minds.

  http://www.newsday.com/classifieds/jobs/u-s-economy-adds-96-000-jobs-rate-falls-to-8-1-1.3962105

• Dalforce 1941

  5 Oct 12, 21:19

  U.S. economy adds 114,000 jobs in September, unemployment rate falls to 7.8%

   

  The unemployment rate falls to 7.8% as July and August job figures are revised upward. It's the first time in nearly 4 years that the rate has been under 8%.

  October 5, 2012

  
   The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election. 
  
  The Labor Department said Friday that employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work. 
  
  The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office. 
  
  The decline could help Obama, who is coming off a disappointing debate performance against GOP challengerMitt Romney. 
  
  Stock futures rose modestly after the report. Dow Jones industrial average futures, up 30 points just before the report came out, were up 45 points after it was released. 
  
  The yield on the 10-year U.S. Treasury note climbed to 1.73 percent from 1.68 percent just before the report, a sign that investors were more willing to embrace risk and moving money from bonds into stocks. 
  
  The job market has been improving, sluggishly but steadily. Jobs have been added for 24 straight months. There are now 325,000 more than when Obama took office. 
  
  The September gains were led by the healthcare industry, which added 44,000 jobs — the most since February. Transportation and warehousing also showed large gains. The revisions showed that governments actually added 63,000 jobs in July and August, compared with earlier estimates that showed losses. 
  
  Still, many of the jobs added last month were part time. The number of people with part-time jobs who wanted full-time work rose 7.5 percent to 8.6 million.

  http://www.latimes.com/news/la-fiw-jobs-20121005,0,1158534.story

   

   

• Dalforce 1941

  2 Nov 12, 23:02

  US economy adds 171K jobs in Oct; unemployment rate rises to 7.9 pct.

  Nov 2 

  WASHINGTON (AP) — U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September.

  The Labor Department’s last look at hiring before Tuesday’s election sketched a picture of a job market that’s gradually gaining momentum after nearly stalling in the spring.

  Since July, the economy has created an average of 173,000 jobs a month. That’s up from 67,000 a month from April through June.

  Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt. The rate rose in October because more people began seeking work and were counted as unemployed. The government counts people without jobs as unemployed only if they’re looking for one.

  The work force — the number of people either working or looking for work — rose by 578,000. And 410,000 more people said they were employed. The number of unemployed increased 170,000 to 12.3 million, pushing up the unemployment rate.

  The increase in the work force ‘‘could be a sign that people are starting to see better job prospects and so should be read as another positive aspect to the report,’’ said Julia Coronado, an economist at BNP Paribas.

  Investors were pleased by the news. The Dow Jones industrial average futures were flat before it came out at 8:30 a.m. EDT, and within 30 minutes they were up 54 points.

  The yield on the benchmark 10-year U.S. Treasury note climbed to 1.77 percent from 1.72 percent, a sign that investors were moving money out of bonds and into stocks.

  Friday’s report included a range of encouraging details.

  The government revised its data to show that 84,000 more jobs were added in August and September than previously estimated. The jobs gains in October were widespread across industries. And the percentage of Americans working or looking for work rose for the second straight month.

  The economy has added jobs for 25 straight months. There are now 580,000 more than when Obama took office.

  But there were also signs of the economy’s persistent weakness. Average hourly pay dipped a penny to $23.58. In the past year, pay has risen just 1.6 percent. That has trailed inflation, which rose 2 percent.

  The October jobs report was compiled before Superstorm Sandy struck the East Coast earlier this week and devastated many businesses.

  The nascent housing recovery is finally generating jobs. Construction firms added 17,000 positions, the most since January. Manufacturers added 13,000 jobs after shedding workers in the previous two months. Professional services such as architects and computer systems providers also added jobs, as did retailers, hotels and restaurants, and education and health care. Government overall shed 13,000 jobs, after three months of gains.

  The economy has picked up a bit in recent weeks. Americans are buying more big-ticket items, like cars and appliances. Auto companies reported steady sales gains last month despite losing three days of business to the storm in heavily populated areas of the Northeast.

  Yet businesses remain nervous about the economy’s future course. Many are concerned that Congress will fail to reach a budget deal before January. If lawmakers can’t strike an agreement, sharp tax increases and spending cuts will take effect next year and possibly trigger another recession.

  American companies are also nervous about the economic outlook overseas. Europe’s financial crisis has pushed much of that region into recession and cut into U.S. exports and corporate profits.

  http://www.boston.com/business/news/2012/11/02/economy-adds-jobs-rate-rises-pct/sFAWJXAro2RwcX77RbfaeO/story.html