According to the Labor Department, the world’s largest economy added 137,000 new jobs last month, as the public sector cut 34,000 jobs. According to the Labor Department, the private-sector numbers benefited from the return of around 45,000 Verizon workers who had fallen off payrolls in August due to a strike. Excluding those workers, payrolls increased [...]
According to the Labor Department, the world’s largest economy added no new jobs last month, which was a surprise after markets had expected 70,000 new jobs. This represented the first time since 1945 that there has been a zero payrolls figure after 17,000 jobs were added in the private sector last month but these were [...]
Figures from the US Labor Department have revealed US wholesale price inflation rose last month on the back of rising tobacco and light motor truck prices. According to the Labor Department, the cost of finished goods rose 0.2% in July, with fresh fruit, beef and veal all attributing to pushing up the rate of inflation. [...]
The Labor Department has revealed the unemployment rate in the US dipped in July to 9.1%, down from 9.2% in June. The world’s largest economy created 117,000 jobs last month – much better than forecasts. Analysts had been expecting an increase of 85,000, while the unemployment rate was expected to remain at 9.2%. Manufacturing, retail, [...]
The Bureau of Labor Statistics has today revealed the unemployment rate in the US rose in June to 9.2% from 9.1% in May. According to the Bureau, the number of new jobs created in the world’s largest economy last month represented the lowest in 9 months. The economy created just 18,000 jobs in June – [...]
The Labor Department has today revealed the unemployment rate in the US unexpectedly rose in May to 9.1%, up from 9% in April. Despite the rise in the jobless rate, it was the eighth consecutive month of positive employment growth. The economy created 54,000 jobs in the month – however, this was far less than [...]
The Labor Department has today revealed the unemployment rate in the US has fallen again from 8.9% in February to 8.8% in March – a two-year low. It represents the fourth consecutive month that the rate has fallen with the economy creating 216,000 jobs in the month – far better than expectations. The private sector [...]
The Labor Department has today revealed US prices rose by 2.1% on an annual basis in February – up from 1.6% in January. On a monthly basis, prices rose by 0.5% – the fastest rise since June 2009, driven by higher oil and food costs. Food costs rose by 0.6% month-on-month, the most in two-and-a-half [...]
The Labor Department has today revealed the US Consumer Price Index, the core rate of inflation, rose by 1.6% on an annual basis in January. However, the rate is still within the central bank’s target of closer to 2%. On a monthly basis, prices rose by 0.2% – the largest gain since October 2009 – [...]
The Labor Department has announced US producer prices surged in January – the biggest rise for two years, driven higher by rising drug costs. According to the data, the core producer price index, which strips out food and energy costs, increased by 0.5%, the biggest rise since October 2008. It exceeded analysts expectations of a [...]
The Labor Department has revealed the unemployment rate in the US has fallen from 9.4% in December to 9% in January – confounding expectations of a rise to 9.5%. It also follows on from the sharp drop of 9.8% reported for the month of November. However, the large fall has been attributed to jobseekers giving [...]
The Commerce Department has revealed US retail sales grew for the sixth consecutive month in December. Sales grew by 0.6% on the month – although this was less than the 0.8% expected by analysts. December’s increase was less than in the previous two months, as retailers started their sales early, while parts of the country [...]
The Labor Department has revealed the unemployment rate in the US has fallen from 9.8% to 9.4% in December – representing the biggest one month drop since April 1998. The US economic recovery has been stuttering of late due to stubbornly high unemployment. According to the Labor Department, just over 100,000 jobs were created in [...]
There are continued fears for the strength of the US economic recovery today after the jobs market fails to improve. The Labor Department revealed the unemployment rate rose to 9.8% in November – the highest level since April. The rate has now exceeded the 9% mark since May 2009. The US economy added just 39,000 [...]
The Labor Department has revealed the world’s largest economy added 151,000 new jobs last month. The news was gratefully received after concerns of a sluggish recovery, which led the Federal Reserve to introduce a fresh round of stimulus this week. However, the latest figures means the unemployment rate continues to hold steady at 9.6% – [...]
The Labor Department has revealed the world’s largest economy lost 95,000 non-farm jobs last month – nearly double the 54,000 jobs lost in August. The latest figures means the unemployment rate held steady at 9.6%. The rate has now been above the 9% mark since May 2009. The number of unemployed is hovering around the [...]
The Labor Department has revealed the world’s largest economy lost 131,000 jobs last month – again, partly due to the loss of temporary Government jobs, which were recruited to help conduct the 2010 census. The latest figures means the unemployment rate held steady at 9.5% in July – for the second consecutive month and beating [...]
Official figures show that the number of US workers filing new claims for jobless benefits rose unexpectedly last week to a high not seen since April. The figures show that initial jobless claims rose more than 4% to 479,000 in the week ended July 31, according to the Labor Department. Analysts had expected a fall [...]
Official data from the Labor Department has today revealed that US consumer prices fell for the third consecutive month in June, by 0.1% on a monthly basis. The fall was attributed to declines in energy prices, which were down 2.9%, food prices remained flat. The fall in June followed declines of 0.1% and 0.2% in [...]
Figures released today revealed growth in the US services sector slowed in June and hit its lowest level since February. However, the vast services sector, which makes up around two-thirds of US economic activity, grew for the sixth consecutive month in June. The Institute for Supply Management (ISM) said its service index fell in June [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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