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December was one of the best jobs report in a while. The economy gained 200,000 jobs in December. The number of jobs gained in November was also revised upward to 100,000. The unemployment rate fell to 8.5%.
January's report will be crucial to see how much of the November and December reports were due to seasonal hiring. There was a bump of 28,000 retail jobs in December according to the report. Leisure and hospitality added 24,000 jobs.
CBS MoneyWatch's Jack Otter says we are still "deep in the woods" and we need to keep this momentum going to get the economy growing. Take a look:
A new study has found that men are taking over two-thirds of newly created private sector jobs. Some of the jobs men are taking include jobs traditionally held by women, such as retail positions. There were about 1.28 million jobs gained by men in the past twelve months compared to just 600,000 jobs gained by women. Take a look:
November 2011 Jobs Report: Unemployment Rate Falls to 8.6%, 120,000 Jobs Added
The November jobs report showed signs of an improvement. The unemployment rate fell to 8.6%, which is the lowest rate since March 2009. The economy added 120,000 jobs. More jobs need to be added each month (there are still way too many Americans out of work), but this was a step in the right direction.
The September 2011 jobs report was revised upward by 52,000 jobs for a gain of 210,000 jobs. The October 2011 jobs report was also revised upward by 20,000 for a gain of 100,000 jobs.
The Bureau of Labor Statistics says in its report that 50,000 of the jobs created in November were retail jobs. This jobs could be temporary employment and they might go away in 2012.
President Obama wants a payroll tax cut passed to help fuel additional job growth. Take a look:
Whirlpool Corporation announced it will reduce its workforce by 5,000 positions today. The company says it is experiencing weaker than expected demand combined with increased material costs.
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer, says, "During the quarter, we experienced weaker than expected global industry demand and elevated material costs. Consumers continue to show strong reference for our unmatched global brand portfolio and new product innovations, and we are beginning to see the benefits from previously announced price increases. However, our results were negatively impacted by recessionary demand levels in developed countries, a slowdown in emerging markets and high levels of inflation in material costs."
The company's cost and capacity reduction plans include a workforce reduction of more than 5,000 positions primarily within North America and Europe (approximately a 10 percent workforce reduction in those regions). These plans include the reduction of approximately 1,200 salaried positions. The company will also close its refrigeration manufacturing facility in Fort Smith, Ark. by mid-2012.
The economy gained 103,000 jobs in September, but the trend is still downward. The Bureau of Labor Statistics says that since April, payroll employment has increased by an average of 72,000 per month, compared with an average
of 161,000 for the prior 7 months. This month's job report was partially boosted by the return of 45,000 telecommunications workers from an August strike. Unemployment remains at 9.1%.
The government says there was an increase in construction employment of 26,000. However, the crucial area of manufacturing lost 13,000 jobs in September. Retail also shedded 9,000 jobs in September. This area should start adding jobs this time of year.
Bank of America plans to cut as many as 30,000 jobs over the next five years. The company is still hurting from its acquisition of Countrywide - and its bad mortgages - in 2008. Bank of America's shares have lost about half their value so far this year.
Another report says Bank of America's job cuts will be at least 40,000. The layoffs come at a time when the country is still struggling to mount a recovery from the 2008 recession. Take a look:
The new jobs report is out and its not good. The Bureau of Labor Statistics reports that the economy create zero jobs in August. The unemployment rate held steady at 9.1%. The very weak report is another sign the economy is heading back into a depression.
Jobs in the information industry (-48,000), manufacturing (-3,000) and government employement (-17,000) showed losses. Gains occurred in health care (+30,000) and mining (+6,000).
CNBC reports that economists had been expecting a gain of 75,000 jobs in August.
The Bureau of Labor Statistics reports that there were 4,547 fatal work injuries in 2010. This is very similar to the 4,551 fatal work injuries in 2009. Here are some highlights from the 2010 Census of Fatal Occupational Injuries report:
The number of fatal work injuries among the self-employed declined by 6 percent to 999 fatalities, more than the decline in their hours worked. The number of fatal injuries among wage and salary workers increased by 2 percent in 2010.
Fatal work injuries in the private mining industry rose from 99 in 2009 to 172 in 2010, an increase of 74 percent. The fatal work injury rate for mining increased from 12.4 per 100,000 FTEs in 2009 to 19.9 per 100,000 in 2010. The multiple-fatality incidents at the Upper Big Branch Mine and the Deepwater Horizon oil rig are included in these figures.
Fatal work injuries in the private construction sector declined by 10 percent from 2009 to 2010 and are down nearly 40 percent since 2006.
Work-related fatalities resulting from fires more than doubled from 53 in 2009 to 109 in 2010--the highest count since 2003.
Workplace homicides declined 7 percent in 2010 to the lowest total ever recorded by the fatality census, but workplace homicides involving women increased by 13 percent.
The number of fatal workplace injuries among police officers increased by 40 percent, from 96 in 2009 to 134 in 2010.
The U.S. economy added 117,000 jobs in July according to the latest report from the U.S. Bureau of Labor Statistics. This was a slightly larger than the 75,000 expected by a survey of economists. The jobs added in April and May were also revised upward, but not by much. Here are the details:
117,000 jobs added in July.
Private-sector employers added 154,000 jobs in July
Manufacturing employment increased by 24,000 in July
Government employment fell by 37,000
May and June jobs added figures increased by combined total of 56,000
Unemployment rates dropped to 9.1% from 9.2%
This is still a weak jobs report, but it could provide some encouragement as it is better than the prior two months.
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The economy created a measly 54,000 jobs in May according to the Bureau of Labor Statistics. The report suggests hiring is slowing which is not a good sign for an economy already struggling to regain its footing. Unemployment creeped upward to 9.1%. Felix Salmon of Reuters simply used the words "Jobs Fail" for the headline of his news story about the dismal jobs report. Take a look:
The U.S. Bureau of Labor Statistics reported today that nonfarm payroll employment rose by 244,000 in April. The BLS says private sector employment has increased by 2.1 million since February 2010. Unemployment edged up from 8.8% to 9.0%. Some of the industries adding jobs were retail (57,000 jobs), professional and business services (51,000 jobs), healthcare (37,000 jobs) and leisure and hospitality (46,000 jobs).
The numbers sound good, but the economy would be creating closer to 400,000 jobs or more if was strong. A CNBC post says the internals are weak. Take a look:
McDonald's drew large crowds during its national hiring day yesterday. The company planned to hire 50,000 employees. Employees at most McDonald's stores make more than minimum wage. Managers make between $32,000 and $50,000 a year. Hiring and pay vary at different McDonald's restaurants because most are owned by franchisee. Take a look:
Finally some better numbers on the jobs front. The February jobs report from the Labor Department says the economy added 192,000 non-farm jobs in February. The unemployment rate ticked down from 9.0% to 8.9%. We really need to see job added number in the 300,000 to 400,00 range for the economy to get back on track, but at least the February report was a step in the right direction. Take a look:
Whirlpool Corporation announced it will reduce its workforce by 5,000 positions today. The company says it is experiencing weaker than expected demand combined with increased material costs.
