Politics, Government & Business in California's Inland Empire
The Fiscal Times
By Yuval Rosenberg
February 6, 2015 1:15 PM
The U.S. job market is, to use a technical term, really hot.
January saw non-farm payrolls jump by a better-than-expected 257,000, and data revisions lifted the totals for the prior two months by 147,000 more. Over the last three months, the economy added more than a million jobs, the strongest pace of labor market growth since 1997.
Wednesday, 04 Feb 2015 - 11:04 PM
By Cathy Burke
The 5.6 percent unemployment rate being trumpeted by the White House, Wall Street and the media is a “big lie,” the head of the Gallup polling firm says.
Sunday, April 20, 2014 - 10:00 a.m.
Much effort is being put into making Americans believe the economy is building strength.
The assertion is prominent within government circles.
Saturday, August 3, 2013 - 11:00 a.m.
On the Friday, the U.S. Department of Labor, Bureau of Labor Statistics, issued its employment report for the month of July.
The official “sesaonally-adjusted” unemployment rate (U-3), fell from 7.6% to 7.4%. The official “un-adjusted” rate (U-3), fell from 7.8% to 7.7%.
Friday, July 5, 2013 - 10:00 a.m.
It didn’t take an Ivy League economist to see this coming down the road.
According to the U.S. Department of Labor, 195,000 jobs were created in June. But, the official unemployment rate (U-3), remained unchanged at 7.6%.
The serious problem? Job quality!
Friday, June 7, 2013 - 11:30 a.m.
Here’s some news of interest flowing across the transom Friday morning.
May unemployment rate ticks up to 7.6%
The U.S. Department of Labor published its May jobs report Friday Morning. The DOL says employers added 175,000 jobs last month, with the official unemployment rate edging upt to 7.6%. The underemployment rate, which takes into account part-time and discouraged workers, edged down to 13.8%.
Monday, May 6, 2013 - 11:45 a.m.
Last Friday’s release of the April employment report by the U.S. Department of Labor (DOL) is somewhat curious.
The much followed official unemployment rate (U-3) fell from 7.6% to 7.5%.
Monday, April 8, 2013 - 01:30 p.m.
The March employment report, released by the U.S. Department of Labor last Friday, would seem to have caught all the so-called experts off guard.
The country added a paltry 88,000 jobs. A number that was about half of what was expected.
Thursday, March 28, 2013 - 09:30 a.m.
Here’s some news flowing across the transom Thursday morning.
Barstow Court to remain open
The state has coughed-up funds to temporarily keep one courtroom open at the Barstow Court facility through early summer.
Friday, March 8, 2013 - 09:00 a.m.
The U.S. Department of Labor, Bureau of Labor Statistics released it’s official employment report for February at 08:30 a.m. (E.S.T.) this morning.
According to the BLS, 236,000 jobs were added to payrolls. The official published unemployment rate, know as the U-3 rate, fell from 7.9% to 7.7%.
Thursday, February 28, 2013 - 09:30 a.m.
Here’s some news of interest flowing across the transom this Thursday morning.
San Bernardino County tally for Dorner manhunt at $550,000
The San Bernardino County Sheriff’s Department has pegged the cost of the manhunt for Former Los Angeles Police Department Officer Christopher Dorner at $550,000. The amount consists primarily of salary and overtime-related costs.
Friday, February 1, 2013 - 08:30 a.m.
The U.S. Department of Labor released its employment report for January this morning, and it wasn’t anything to beat a drum over.
Non-farm payrolls climbed by a meager 157,000. The consensus was for 165,000.
Monday, January 28, 2013 - 09:45 a.m.
Is U.S. unemployment really improving?
At this point not really. Even though the headline unemployment (U-3) number is at 7.8%.
Friday, January 4, 2012 - 08:30 a.m.
The jobs picture remained tepid in December with a lackluster 155,000 jobs added, according to the unemployment report issued by the U.S. Department of Labor on Friday morning.
Saturday, October 6, 2012 - 03:30 p.m.
A highly suspect September unemployment report is now playing into the Presidential election cycle.
The report says the unemployment rate dropped from 8.2% to an astounding 7.8%. The news immediately floored most economists, who are now questioning the household survey the rate is derived from.
Friday, September 21, 2012 - 09:30 a.m.
Weekly first-time jobless claims continue to remain stubbornly high in September.
Thursdays report of last weeks claims fell 3,000 to a seasonally-adjusted 382,000.
Friday, September 7, 2012 - 09:00 a.m.
Forget about the Democratic National Convention (DNC) hoop-la.
It’s over! All due to the August employment report.
Thursday, September 6, 2012 - 12:45 p.m.
Will the U.S. Department of Labor come to President Barack Obama’s aid Friday morning?
Friday, June 1, 2012 - 09:00 a.m.
The U.S. Department of Labor announced on Friday that the U.S. economy added just 69,000 jobs in May.
Approximately 100,000 less than economists had expected.
Friday, May 4, 2012 - 08:15 a.m.
The U.S. economy continued to decelerate in April, with just 115,000 jobs created.
The average estimate by economists was for April job creation of 160,000.
The March number was 154,000.
Friday, April 6, 2012 - 08:00 a.m.
As expected, U.S. job growth slowed dramatically in March.
Just 120,000 jobs were added across the country.
Tuesday, February 28, 2012 - 09:30 a.m.
A few observations on the state of economic affairs.
So home prices continued falling in January.
Down another 1.1%. A number worse than forecast.
Sunday, February 19, 2012 - 11:30 a.m.
So the U.S. Department of Labor says the national unemployment rate is 8.3%.
A huge drop-off from its high.
But is the number really accurate.
The answer: Probably not.
Friday, February 3, 2012 - 09:00 a.m.
Hooray! The U.S. unemployment rate fell to 8.3% in January, with the economy adding 243,000 jobs.
But it took a lot of gaming of the numbers to get there.
Josh Dulaney, Staff Writer
Posted: 01/05/2012 05:29:17 PM PST
An administrative law judge from the U.S. Department of Labor has ruled in favor of a San Bernardino man who says he was wrongfully fired from an aircraft maintenance company that he worked for at San Bernardino International Airport.
Friday, December 2, 2011 - 10:45 a.m.
Friday the U.S. Department of Labor, Bureau of Labor Statistics (BLS) released an unemployment (U-3) rate of 8.6%.
A decrease from 9.0% in October.
Published: Thursday, 1 Dec 2011 | 8:39 AM ET
By: AP
Claims for unemployment insurance unexpectedly rose last week, climbing past the psychologically important 400,000 mark as the jobs market showed signs of more weakness.
Sunday, October 23, 2011 - 02:15 p.m.
Hooray! We’re all saved.
The economy is recovering, unemployment is is improving and the Dow is going to hit 15,000 by Christmas.
What the hell.
News Analysis
By DAVID LEONHARDT
Published: October 8, 2011
David Leonhardt is The New York Times Washington bureau chief.
UNDERNEATH the misery of the Great Depression, the United States economy was quietly making enormous strides during the 1930s. Television and nylon stockings were invented. Refrigerators and washing machines turned into mass-market products. Railroads became faster and roads smoother and wider. As the economic historian Alexander J. Field has said, the 1930s constituted “the most technologically progressive decade of the century.”
Money & Company
Tracking the market and economic trends that shape your finances.
September 2, 2011 | 6:11 am
The U.S. added no new jobs in August as employers cut back hiring and trimmed work hours of existing employees, the government said Friday.
Thursday, August 18, 2011 - 09:25 a.m.
What a shocker!
The U.S. Department of Labor revised it’s estimate of first time claims from last week.
By Shobhana Chandra - Jul 8, 2011 7:28 AM PT
American employers added jobs at the slowest pace in nine months in June and the unemployment rate unexpectedly climbed to 9.2 percent, sending global stocks tumbling on concern the world’s biggest economy is faltering.
Martin Crutsinger and Derek Kravitz, AP Business Writers
Thursday June 23, 2011, 12:28 pm
WASHINGTON (AP) — Sour reports Thursday on the number of people who sought unemployment benefits and buyers of new homes illustrate what Federal Reserve Chairman Ben Bernanke acknowledged Wednesday: Many factors weighing on the economy are proving to be more chronic than first imagined.
Christopher S. Rugaber, AP Economics Writer
Friday June 3, 2011, 10:33 am
WASHINGTON (AP) — Employers in May added the fewest jobs in eight months, and the unemployment rate inched up to 9.1 percent. The weakening job market raised concerns about an economy hampered by gas prices and the Japanese nuclear disaster.
On Thursday May 26, 2011, 11:01 am EDT
By Lucia Mutikani
WASHINGTON (Reuters) - Unexpectedly weak consumer spending kept the economy stuck in a slow growth gear in the first quarter and would likely struggle to regain speed amid signs of a slowdown in the pace of job creation.
By Timothy R. Homan - May 6, 2011 7:17 AM PT
American employers in April added more jobs than forecast, indicating the world’s largest economy is weathering the impact of higher fuel prices.
Economic Report
May 5, 2011, 10:41 a.m. EDT
Claims climb to 474,000, the highest level since August
By Jeffry Bartash, MarketWatch
WASHINGTON (MarketWatch) — Weekly applications for unemployment compensation jumped to their highest level since August, largely because of special factors, but a recent upward trend suggests more slack in the U.S. labor market.
Economic Report
April 28, 2011, 10:17 a.m. EDT
Applications jump to 429,000, the highest level in three months
By Jeffry Bartash, MarketWatch
WASHINGTON (MarketWatch) — New applications for U.S. unemployment benefits jumped last week to the highest level in three months, potentially a sign that recent improvement in hiring trends may have slowed.
Published: Thursday, 14 Apr 2011 | 9:43 AM ET
By: Reuters
New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed faster than expected in March, government reports showed on Thursday.
Unemployment rate reaches a two-year low as companies add 216,000 workers to the payrolls.
By Jim Puzzanghera, Alana Semuels and Paul West, Los Angeles Times
April 2, 2011
Reporting from Washington and Los Angeles— The nation’s job-creation engine revved up last month and pushed the unemployment rate to its lowest level in two years, spreading optimism that the economic recovery is firmly in place and giving President Obama a political boost.
Saturday, March 5, 2011 - 08:15 a.m.
Friday would have been a great party on the business networks if not for the stock market drop and the almost daily spike in crude oil prices.
Why you ask?
Unemployment drops to 8.9 percent, nearly two-year low; employers add 192K jobs
Jeannine Aversa, AP Economics Writer
Friday March 4, 2011, 9:59 am EST
WASHINGTON (AP) — Employers hired in February at the fastest pace in almost a year and the unemployment rate fell to 8.9 percent — a nearly two-year low.
Tuesday, February 22, 2011 - 09:30 a.m.
Don’t be fooled! It’s not working.
Efforts by the U.S. Treasury and Federal Reserve to prop up investment markets, known as QE2 (Quantitative Easing - 2nd phase), doesn’t appear to be working.
Why you ask?
By Bob Willis - Feb 17, 2011 5:54 AM PT
The cost of living in the U.S. climbed more than forecast in January, led by higher prices for food and fuel that may be starting to filter through to other goods and services.
Sunday, February 6, 2011 - 11:15 a.m.
Last Friday’s release of January unemployment figures by the U.S. Department of Labor was a disgrace.
Over the past two months the “unemployment rate” has purportedly fallen from 9.8% to 9.0%, with the “underemployment” rate currently at 16.1%.
The unemployment rate fell to 9.4% in December, the Labor Department reports, but employers added only 103,000 jobs, far below what had been expected. The numbers suggest that the drop comes from workers’ giving up looking for jobs.
By Don Lee, Los Angeles Times
January 8, 2011
Reporting from Washington —
The U.S. economy created fewer new jobs last month than expected, a painful reminder of just how slow the overall recovery may be despite recent signs of stronger consumer spending and hiring by some employers.
Although the unemployment rate dropped dramatically to 9.4% in December, the government reported, employers added only 103,000 jobs, below many analysts’ expectations. The report on average weekly work hours was also disappointing.
By Don Lee, Los Angeles Times
January 8, 2011
Reporting from Washington —
The nation’s unemployment rate dipped last month to the lowest level since the spring of 2009. Still, the economy created substantially fewer new jobs than had been expected – a painful reminder of just how slow the jobs recovery may continue to be.
Unemployment rates rise in two-thirds of large US metro areas; some jobseekers giving up
Christopher S. Rugaber, AP Economics Writer,
On Tuesday January 4, 2011, 4:15 pm
WASHINGTON (AP) — Unemployment rates rose in more than two-thirds of the nation’s largest metro areas in November, a sharp reversal from the previous month and the most since June.
Friday, December 3, 2010 - 10:30 a.m.
This mornings grim news on the economy was no surprise here.
According to the U.S. Department of Labor the national unemployment rate climbed to 9.8% in November. Up from 9.6% in October.
The net number of jobs added? A paltry 39,000, of which, most were temporary positions likely to leave the workforce after the holiday season ends.
Jobless rate rises to 9.8 pct in Nov., highest since April; economy adds only 39,000 jobs
Jeannine Aversa, AP Economics Writer, On Friday December 3, 2010, 11:23 am
WASHINGTON (AP) — In a surprising setback, the nation’s unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed across the economy.
Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October, the Labor Department reported Friday. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month.
Wednesday, October 20, 2010 - 07:00 a.m.
The Gallup organization, in a report released Monday, says government and private sector layoffs accelerated during the second half of September.
Due to the time necessary to calculate the data, the monthly unemployment rate published by the U.S. Department of Labor only takes into account the first two weeks of each month.
Employers in U.S. Cut More Jobs Than Forecast in September
By Timothy R. Homan - Oct 8, 2010 6:46 AM PT
The U.S. lost more jobs than forecast in September, reflecting a decline in government payrolls that shows the damage being done by rising budget deficits.
Employers fired 95,000 workers after a revised 57,000 decrease in August, Labor Department figures in Washington showed today. The median estimate of economists surveyed by Bloomberg News called for a 5,000 drop. The unemployment rate held at 9.6 percent.
Timothy R. Homan, On Tuesday September 7, 2010, 1:11 pm EDT
The jobless rate in the U.S. is likely to approach 10 percent in coming months as the economy fails to grow enough to employ people rejoining the labor force, economists said.
Private payrolls climbed 67,000 in August, after a gain of 107,000 the previous month, and the unemployment rate rose to 9.6 percent, the Labor Department reported Sept. 3. The median forecast in a Bloomberg News survey of economists called for an increase of 40,000. The economy expanded at a 1.6 percent annual rate in the second quarter, down from 3.7 percent in January through March.
President Obama meets construction workers after speaking at a Recovery Act highway project in Columbus, Ohio, in June.
by Scott Horsley
September 3, 2010
Whatever happened to recovery summer?
This was supposed to be the season the economy heated up, thanks to a wave of public works projects, funded by the government’s stimulus program. But summer is coming to an end, and the recovery has not taken root. (The Labor Department on Friday reported a slight rise in the unemployment rate to 9.6 percent in August as more people were looking for work.)
Aug. 19, 2010, 8:30 a.m. EDT
By Greg Robb
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits rose unexpectedly in the latest week to their highest level in nine months, the Labor Department reported Thursday.
The number of initial claims in the week ending Aug. 14 rose 12,000 to 500,000. This is the third consecutive weekly increase.
Claims are at their highest level since Nov. 14, 2009. The consensus forecast of Wall Street economists was for claims to inch lower. The four-week average rose 8,000 to 482,500.Claims in the previous week were revised to an increase of 6,000 to 488,000 compared with the initial estimate of an increase of 2,000 to 484,000.
To read entire story, click here.
Private Sector Expands Slightly, but Governments Cut Jobs; Treasury Yields Dip
AUGUST 7, 2010
By SUDEEP REDDY
The government’s latest snapshot of the job market was bleak, a sign the economic recovery is running out of steam with 14.6 million Americans still searching for work.
In the wake of Friday’s disappointing jobs report, Neal Lipschutz and Phil Izzo discuss new predictions that it could be many years before the nation’s unemployment rate reaches pre-recession levels.
On Friday August 6, 2010, 10:53 am EDT
By Lucia Mutikani
WASHINGTON (Reuters) - Private employers added fewer workers to their payrolls in July than expected and hiring in June was much weaker than had been thought, a blow to an economic recovery that is failing to gain traction.
The dismal news on jobs poses a challenge to Democrats hoping to retain their congressional majorities in November elections, as well as to officials at the Federal Reserve who are debating whether more needs to be done to foster growth.
The nation loses 125,000 jobs in June, but the unemployment rate falls to 9.5% as more workers leave the labor force.
By Don Lee, Los Angeles Times
July 3, 2010
Reporting from Washington —
A disappointing new jobs report provided the latest and sharpest sign yet that the economic recovery may be losing momentum and that few industries are ready to spur job growth to replace the millions lost during the recession.
The June employment report released Friday by the Labor Department suggested that with stimulus money running out, Washington in the mood to retrench and the private sector still struggling, it probably will take years to overcome the 7-million-plus jobs deficit.
By Don Lee and Alejandro Lazo, Los Angeles Times
July 2, 2010
Reporting from Washington and Los Angeles —
A fresh batch of weak economic news Thursday heightened concerns about the staying power of the fledgling recovery, with more uninspiring news expected Friday when the government reports on the May job market.
FOR THE RECORD:
This article incorrectly says the government will report on the May job market Friday. It will report on the June job market.
The number of pending home sales plunged 30% in May from April, to the lowest level since at least 2001, an industry group reported Thursday, reflecting a larger-than-expected fallout from the expiration of the federal tax credit for home buyers.
News flash….. The economy is still bad.
Today, the U.S. Department of Labor reported the number of new jobs created last month was a whopping 431,000. Sounds good, right?
By Timothy R. Homan
May 20 (Bloomberg) — More Americans unexpectedly filed applications for unemployment benefits last week, showing firings remain elevated even as employment climbs.
Initial jobless claims rose by 25,000 to 471,000 in the week ended May 15, exceeding the median forecast of economists surveyed by Bloomberg News and the highest level in a month, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance and those getting extended payments fell.
We hear so much hoop-la over the proclaimed “stabilizing” jobs market and how there’s new job creation taking hold.
Forget about all those temporary census jobs that evaporate in July.
However, lift up the sheets on the unemployment numbers and you have cause to be concerned. The “adjusted” unemployment rate published by the U.S. Department of Labor remained unchanged at 9.7% in the latest reading published last week.
Examiner Editorial
February 8, 2010
White House apologists were quick to point to the unemployment rate decline from 10 percent to 9.7 percent as evidence that the recovery is gathering momentum and that President Obama’s policies — especially his $787 billion economic stimulus bill Congress approved last February — are “working.” But the back story behind the figures provides cold comfort.
By Timothy R. Homan
Feb. 5 (Bloomberg) — The unemployment rate in the U.S. unexpectedly dropped to 9.7 percent in January, indicating the labor market may be poised to climb out of its deepest slump since World War II.
More than half a million Americans found work, a Labor Department report showed today in Washington, helping push the jobless rate to the lowest since August. A separate survey of employers showed payrolls declined by 20,000 as construction companies and state and local governments cut back.
New jobless claims rise unexpectedly to 480,000 as layoffs continue, jobs remain scarce
By Christopher S. Rugaber, AP Economics Writer , On Thursday February 4, 2010, 9:41 am EST
WASHINGTON (AP) — The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.
The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter.