Tag: Labor Department

US unemployment rate holds steady at 9.1%

US unemployment rate holds steady at 9.1%

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 […]

October 7, 2011 More
US unemployment rate holds steady at 9.1%

US unemployment rate holds steady at 9.1%

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 […]

September 2, 2011 More
US inflation up on higher tobacco prices

US inflation up on higher tobacco prices

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. […]

August 17, 2011 More
US unemployment rate dips in July

US unemployment rate dips in July

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, […]

August 8, 2011 More
US unemployment rate edges up to 9.2%

US unemployment rate edges up to 9.2%

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 – […]

July 8, 2011 More
US unemployment rate up to 9.1%

US unemployment rate up to 9.1%

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 […]

June 3, 2011 More
US unemployment rate drops further to 8.8%

US unemployment rate drops further to 8.8%

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 […]

April 1, 2011 More
US inflation rises in February

US inflation rises in February

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 […]

March 17, 2011 More
US core inflation rises in January

US core inflation rises in January

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 – […]

February 17, 2011 More
US producer prices surge in January

US producer prices surge in January

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 […]

US unemployment rate drops to 9%

US unemployment rate drops to 9%

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 […]

February 4, 2011 More
US retail sales rise in December

US retail sales rise in December

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 […]

January 14, 2011 More
US unemployment rate falls to 9.4%

US unemployment rate falls to 9.4%

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 […]

January 9, 2011 More
US unemployment rate reaches 9.8% in November

US unemployment rate reaches 9.8% in November

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 […]

December 3, 2010 More
US jobs data better than expected

US jobs data better than expected

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% – […]

November 5, 2010 More
US unemployment rate holds steady at 9.6%

US unemployment rate holds 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 […]

October 8, 2010 More
US unemployment rate holds steady at 9.5%

US unemployment rate holds steady at 9.5%

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 […]

August 6, 2010 More
US jobless claims rise unexpectedly

US jobless claims rise unexpectedly

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 […]

August 5, 2010 More
US consumer prices fall further in June

US consumer prices fall further in June

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 […]

July 20, 2010 More
US services sector growth slows

US services sector growth slows

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 […]

July 6, 2010 More