Tag: Unemployment

Pence to Obama: Economy Booming Because Trump Administration Rolling Back Failed Obama Policies

Vice President Mike Pence had a message for former President Barack Obama at the Values Voter Summit Saturday: the American economy is booming because the Trump administration is rolling back Obama administration policies. “It’s been two years of promises made and promises kept, and we’re just getting started,” Pence told the conference audience in Washington, […]

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Obama Complains Trump Getting Credit for ‘Economic Miracle’

Former President Barack Obama appeared upset on Friday that President Donald Trump was getting credit for the booming economy. The former president made his remarks at the University of Illinois after the United States economy posted more positive news; over 200,000 jobs created and a 3.9 percent unemployment rate in August. Obama reminded students that […]

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Jobless Claims Unexpectedly Plunge to New Post-1969 Record

Jobless claims fell last week even further to a new post-1969 record of 203,000. This is the lowest level for initial claims for state unemployment benefits since December 6, 1969 when it was 202,000. The 4-week moving average, considered a better gauge of the labor market because it smooths out week-to-week volatility, fell to 209,500 […]

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Jobless Claims Lower than Expected, Four Week Average Hits Lowest Level Since 1969

The number of Americans filing new applications for state unemployment benefits rose by less than expected last week, suggesting that the labor market is still very vigorous. New claims rose by just 3,000 to a seasonally adjusted 213,000 last week, the Labor Department said Thursday. After three consecutive weeks of declines, economists had forecast a […]

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Turkish lira crisis: President Erdoğan announces boycott of US electrical goods – live updates

Turkey’s problems have been building for a while, points out Witold Bahrke, senior macro strategist at Nordea Asset Management. Bahrke explains how the strengthening US dollar has made Turkey’s current account deficit (the gap between what it imports and exports) a bigger problem. Turkey is in a genuine currency crisis, with the lira falling 30% […]

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Trump’s latest ‘economic fiction’ amounts to nothing more than lies, again

In Trump’s fantasyland, everything he does is the greatest. Only it never is. It’s really hard to know sometimes whether Donald Trump purposely lies or he truly just has zero grasp on reality. It’s likely a little of both, but regardless of whether it’s intentional lying or accidental delusion, Trump’s latest narrative about record-breaking economic growth, […]

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Jobless Claims Unexpectedly Fell and Inflation Ticked Down, Suggesting Strong U.S. Economy Unfazed by Trade War

Applications for new unemployment benefits unexpectedly fell last week and producer prices fell, indicating that the strong U.S. economy is standing up quite well amid global trade disputes. Initial jobless claims fell declined by 6,000 a seasonally adjusted 213,000, the Labor Department said Thursday. Economists had expected the rate to rise to 220,000. The four-week moving average […]

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U.S. Added 157,000 Jobs in July; Unemployment Rate Slips to 3.9%

The Labor Department on Friday released its hiring and unemployment figures for July, providing a fresh snapshot of the American economy. The Numbers ■ 157,000 jobs were added last month. Economists had expected a gain of about 190,000. ■ The unemployment rate fell to 3.9 percent, from 4 percent. ■ Average hourly earnings rose by […]

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Plutocrat Charles Koch: Trump Tariffs ‘Ridiculous,’ ‘Unfair’ to Foreigners

Billionaire plutocrat and GOP mega-donor Charles Koch says President Donald Trump’s tariffs on aluminum, steel, and thousands of Chinese-made imports are “ridiculous” and “unfair” to foreigners. Koch, who funds a network of organizations with his brother, David Koch, told the media during a conference with donors over the weekend that Trump’s ten percent tariff on imported […]

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Looking for Unconditional Love in All the Wrong Places

Those of you who know me or have read my blogs know that I have had a rough life. Getting fired by one of my first supervisors, in front of my wife? Surely, things can’t get any worse. Well, late in 2017, they did. Solely due to a miscommunication and misunderstanding among those that I […]

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Wages Are Rising in Europe. But Economists Are Puzzled.

Workers may finally be getting a bigger piece of the economic pie — at least in Europe. Just don’t ask why, or whether it will last. In the decade since the financial crisis, much of the global economy has recovered and is back on stable footing. Companies are reporting record profits, unemployment levels are plummeting […]

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Tariffs Are a Tax that Will Hurt American Companies Like Mine

In 1976, Cummins began operations at our engine plant in Seymour, a small town of about 20,000 people in southern Indiana. The Seymour Engine Plant now produces engines for equipment like locomotives, large boats and power generators that back up critical infrastructure like data centers and landmarks like Wrigley Field. Nearly 80 percent of the […]

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DC is one of the nation’s top cities for 6-figure salaries

WASHINGTON — D.C. has the fourth-highest cost of living in the U.S., but it also ranks high for salaries. Professional-level jobs search site Ladders ranks D.C. third in the nation for the most job openings, with salaries of $100,000 or more. Only San Francisco and New York have more seven-figure job openings. Ladders, which only […]

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Declaring War on Poverty ‘Largely Over,’ White House Urges Work Requirements for Aid

The Center on Budget and Policy Priorities calculated this year that three-quarters of food stamp recipients work within a year of participating in the program. That report suggests that Americans often use assistance programs as bridges to a new job, after they have lost previous employment. The administration’s numbers may be particularly exaggerated for Medicaid. […]

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Black unemployment rates in Kansas City show Trump should really stop bragging about what he’s done

Donald Trump loves to tell us he’s good for black people. But, the numbers show otherwise. Donald Trump loves to brag about things that he can’t actually take credit for. An economy on the rise, steady job creation numbers, and low unemployment rates are all among them. While these things have technically occurred during his tenure, […]

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The U.S. is an international economic leader … of inequality and keeping workers down

Unemployment is low in the United States, but before you start cheering, you should know about a whole bunch of other statistics about work and workers’ rights in this country. A new report from the Organization for Economic Cooperation and Development shows just how far behind our peer nations the U.S. lags on conditions for workers—starting with having […]

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Nancy Pelosi Trashes June Jobs Report, Warns of ‘Brewing Storm’ of Wealth and Opportunity

Former Speaker of the House Nancy Pelosi (D-CA) trashed the June jobs report — even though it showed rapid job growth, rising wages, and low unemployment. The report from the U.S. Bureau of Labor Statistics showed that employers created 213,000 new jobs in June — 22,000 more than economists had expected. Manufacturing jobs in particular […]

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Gov’t reports gain of 213,000 new jobs generated in June; wages make modest gains, again

And Patricia Cohen at The New York Times reported: To retain workers as well as attract new ones, employers say they are increasing pay, sweetening benefits packages and trying to create an appealing work culture. Yet workers, particularly in lower-wage sectors, have complaints of their own — particularly about the slow pace of pay increases. Many employers […]

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U.S. Added 213,000 Jobs in June; Unemployment Ticks Up to 4%

Anxieties over a harmful trade war, however, continue to cast shadows. “They’re playing with fire, really,” Mr. O’Sullivan said of the Trump administration’s trade policies. The latest surveys of business owners around the country were full of comments expressing dismay with the uncertainty generated by tariffs, whether newly imposed or threatened. Last week, General Motors […]

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Ongoing Unemployment Drops to Lowest Level Since December 1973

Jobless claims unexpectedly fell last week, according to data from the Labor Department Thursday. New filings for unemployment benefits fell by 4,000 to 218,000. Economists had expected a rise to 225,000. The four-week moving average of claims, considered a better indicator of job market strength because it evens out week-to-week volatility, also fell. Continuing claims […]

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