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Unemployment and Career News August 18th, 2010

admin — Thu, 19 Aug 2010 04:15:19 +0000

It’s been another slow week for the economy, with retail numbers remaining low and the recovery looking sluggish. Stocks are slowly on the rise which is an improvement upon last week. Unemployment remains high with increasing numbers of people weary of the success of the recovery. The economy is at a potentially dangerous place. Most hope that the slow recovery continues, hiring goes up and unemployment comes down. Unfortunately there are many warning signs that this just won’t happen. With retail sales down and the Fed doing everything in it’s power to fight deflation it’s possible we’re teetering on the brink of another collapse. As home prices continue to fall and foreclosures continue many people are reaching the end of their unemployment benefits. Many skilled workers have been forced into unskilled positions and that leaves unskilled workers out in the cold. It’s not always easy to find a job. Even positions that were once looked down upon, like fast food cook or cashier are filling quickly. This leaves few options for people who are already struggling to survive.

The Wall Street Journal examines the effects of unemployment.

Should Obama have predicted no higher than an 8 percent unemployment jump?

How long should unemployment benefits last?

What you need to apply for long term unemployment.

A new senate bill is in the works to extend unemployment benefits.

Unemployment and Career News August 9th, 2010

admin — Mon, 09 Aug 2010 23:55:46 +0000

Last week’s numbers on job data has come a shock to many. Experts had predicted that jobless number would drop by 2000 and settle somewhere in the 450,000 range. But instead the new data showed that the joblessness has actually risen sharply by over 19,000. This number is actually close to the record number in April when claims rose to 480,000.

Wall street reacted to these numbers with stocks falling sharply. Stock futures also saw a sharp drop. The weak signs of economy recovery are faltering again. There is general sense that all is not really well with the economy.

Despite making smart profits companies are not hiring and in fact many are retrenching workers. The sluggishness of the labor market and the scarcity of jobs is putting a strain on an economy that’s trying hard to recover from the longest downturn since the Great Depression.

Numbers posted by US retailers for July show that sales are much below expectations. Everything points to people’s fears about unemployment and general economic climate is forcing consumers to cut back on spending.

Here are links to 5 articles

Weekly Jobless Claims Show Unexpected Increase

There was an unexpected increase in jobless claims for the week ending July 31st. Experts expected a drop in the claims. But, instead unemployment has jumped up by 19,000 renewing worries about the sluggish labor market. This is the largest unemployment jump we have seen since April when the claims stood at 480,000.

Initial Weekly Unemployment Claims Up to 479,000 But No Tier 5 Unemployment Benefits Extension for 99ers

This week’s latest data points to jump in the unemployment claims by over 19,000. 99ers are now excluded from these numbers and can claim no benefits. In the current job market in the US it is impossible to find a job.

Increase in Jobless Claims Weighs on Stock Futures

Stocks futures moved down on news that jobless claims have jumped up in the week ending July 31st. These numbers clearly rattled the stock markets as the expected at expected a drop in claims by around 2000 and number going down to 455,000 claims instead of jumping up to 479,000. This number is now the close to April 10 numbers of 480,000.

US jobless statistics: employment insurance claims up

Last week’s unemployment numbers indicate that more Americans are claiming unemployment benefits which means joblessness is rising and economic recovery moderating

New claims for jobless benefits rise to 479K

Last week saw a jump in jobless claims indicating that companies are still retrenching and hiring still remains week. Despite higher corporate profits and a recovering economy companies are not hiring .

US jobless claims rise, cast a pall on economy

Unexpected rise in US unemployment benefits indicates that economic recovery is still weak. The new numbers have cast a pall of gloom on the economy.

The scarcity of jobs is putting a strain on the economy’s fragile recovery from its longest and deepest downturn since the Great Depression.”

Unemployment and Career News August 4th, 2010

admin — Wed, 04 Aug 2010 20:37:14 +0000

This August started with a downer for job seekers when on August 1, a panel of 57 economists, inquired by Bloomberg News, estimated that unemployment has risen from 9.5 percent in June to 9.6 percent in last month. This is in sharp contrast to the high that was created by President Obama signing the bill for emergency extension of Unemployment Benefit in the last week of July.

It is predicted that the cut in the number of Census workers at the last phase of the population count resulted in the loss of 600,000 payrolls. According to the Census Bureau, 144,000 workers have already been made redundant with a possibility of 200,000 additional cuts in the near future as population count winds down, which in turn will further skew the payroll figure for coming months.

Economists predicted before the official government report due on August 6, that this will cause a significant drop in consumer expenditure for the coming months of this year. Last month proved to be a slower one for both manufacturing and service industry, as a result in the beginning of the second part of July the economic recovery deteriorated. According to Ben S. Bernanke, the Federal Reserve Chairperson, joblessness is the “the most important” problem that economy is confronting.

The silver lining is, economists are saying that private market, which shows an employment increase of 90,000 in July, will be a much better estimator for unemployment in 2010 and for seven straight months factory payroll registered a steady increase. Also, the service industry is expected to show a steady expansion during month of July, in August 4 report of Institute for Supply Management, though the rate is expected to be a bit slower than that of June.

It is predicted by economists that the current unemployment situation would continue the ongoing trend of consumers saving more and spending less for the rest of this year.

Geithner: U.S. unemployment could rise
Unemployment Probably Rose

Economic Rebound Slows

When are the Unemployment Checks be Sent Out?

Unemployment and Career News July 27th, 2010

admin — Wed, 28 Jul 2010 09:19:19 +0000

President Obama signed the Emergency Unemployment Benefits Extension Bill, HR 5618, into law last Thursday after the bill was passed three hours earlier by the U.S House of Representatives on a vote of 272 to 152. The bill, which would reestablish Tier 3 unemployment for 3 million Americans at an average weekly benefit amount if $306, was approved on Wednesday by the U.S Senate in a highly bipartisan vote. This is the eighteenth extension since the start of the recession in 2008. The bill has been opposed by Republican lawmakers since its introduction in February due to its projected $34 billion dollar price tag., and fears of the growing $13 trillion U.S deficit. The bill will allow those currently on unemployment to file for extension until November 30, 2010 five months later then the previous date of June 2, 2010. The new extension schedule is retroactive allowing those who are passed the deadline to have payments reestablished. Benefit payments are expected to go out as early as next week as each state reviews claims based on the guidelines laid out by the bill. This news comes as monthly unemployment claims rose 37,000 to 464,000 up from the 445,000 expected by a Dow Jones economic survey. It is hoped that the continued purchasing power provided to the unemployed will help aid the shaky U.S economy.

Useful links and news around the web:

Some tips for the unemployed.

How to apply for unemployment.

More information about unemployment benefits extension.

Find out if you qualify for unemployment benefit extension.

Some future prediction for unemployment rates and the U.S job market

Unemployment News July 2010

admin — Wed, 14 Jul 2010 17:50:24 +0000

Recent unemployment stats in the US are all pointing towards a slow but steady economic growth pattern. Statistics issued from the Bureau of Labor indicate that the total number of unemployed Americans has gone down to 14.6 million, which represents a 9.5% proportion of the population. This is despite large exits from Government employment, with an estimated quarter of a million workers being released from temporary contracts now that the 2010 census has been completed. In amongst those finding new jobs, adult women seem to be picking up more work recently, with their unemployment rate falling to just 7.8%. The worst hit group in June were still teenagers, with over 25% of those wishing to work unable to find employment.

Source: http://www.bls.gov/news.release/empsit.nr0.htm

Career and Unemployment News 12/11/2009

admin — Sat, 12 Dec 2009 06:49:47 +0000

The pace of job loss has slowed, but the government is still the biggest employer out there. Read on for some news on how the GOP plans to increase jobs, and other news.

Initial jobless claims rise 17,000 to 474,000

GOP’s Job Creation Plan

Need a job? CEO Obama still seems like a strong employer – Jobs are in Washington D.C.

Nation’s job picture improving, but not for young adults and college graduates

The Homeless are Where Jobs Vanish

Career and Unemployment News 12/09/2009

admin — Wed, 09 Dec 2009 20:14:57 +0000

The Obama Administration is looking to extend unemployment benefits into 2010 and spend $100 billion on the program. Here are some details and other headlines around the country. Obama Still Hopes for bipartisan support on jobs.

Obama pushes new stimulus

Job openings edge down as employers hold back.

California Failures:

Forecasters see high California Unemployment until 2012

Aging computer system holds up unemployment checks to 117,000 Californians

Career and Unemployment News 12/5/2009

admin — Sun, 06 Dec 2009 09:11:29 +0000

Unemployment is now supposedly at 10% in the United States. This is undoubtedly propped up by the seasonal work around the Christmas season. Here are the headlines for this week and a great series from the New York Times about unemployment benefits.

Unemployment Rate Unexpectedly Drops

Staffing Stocks Up on Drop in Unemployment Rate

Unemployment Leaves Experts Optimistic

Great FAQ about unemployment benefits from the New York Times:

Answers about unemployment benefits: Part I

Answers about unemployment benefits: Part II

Apply for extended unemployment benefits in 2009

admin — Mon, 06 Jul 2009 21:07:59 +0000

Extended unemployment benefits do not come automatically. You would need to apply in your specific state when your basic benefits run out. States only offer extended unemployment benefits if there is high unemployment, so not every state has it. Each state also extends their benefits a different amount. Currently extended unemployment is available in many states. The following states have unemployment rates above 10%, and they all have extended unemployment benefits:

California extended unemployment benefits

Florida extended unemployment benefits

Kentucky extended unemployment benefits

Illinois extended unemployment benefits

Indiana extended unemployment benefits

Michigan extended unemployment benefits

North Carolina extended unemployment benefits

Ohio extended unemployment benefits

Oregon extended unemployment benefits

Rhode Island extended unemployment benefits

South Carolina extended unemployment benefits

Tennessee extended unemployment benefits

Another 651,000 jobs shed, unemployment expected to rise through 2009

admin — Fri, 06 Mar 2009 17:29:05 +0000

Unfortunately there is no good news about unemployment in the United States, yet. Here are some news from today:

From Washington Post:

The Bureau of Labor Statistics said the jobless rate rose from 7.6 percent in January to 8.1 percent in February, the highest rate in more than 25 years. An estimated 12.5 million Americans were unemployed in February, the data show, an increase of 851,000 since January. More than 4.4 million people have lost their jobs since the recession began in December 2007, U.S. Labor Secretary Hilda Solis said.

From MarketWatch:

The consensus of private forecasters is for the unemployment rate to get close to 9% next year, with some forecasters looking for a 10% rate. The Federal Reserve doesn’t expect the unemployment rate to fall below 7% until 2011.

If you still have a job right now, you are still in the majority. There are companies still hiring out there, but if you are unemployed you need to somehow beat the competition.