Unemployment Extension News




News Update: October's National unemployment figures were released today, they are showing no change in unemployment nationwide:
3.7%

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10/28/2018: in October of 2018 : Could the US become next Germany for American Jews? A new study ascertained that San Francisco, Denver, and Austin are the top 3 cities for millennials. Country's retailers and manufacturers are eagerly hiring new employees and fighting for top talent albeit some caveats: long-term unemployed are still at a significant disadvantage. Underemployment remains a serious issue for recent college graduates. The booming space industry is struggling to find employees and unable to take jobs offshore due to national security concerns. The new number of unemployment benefits claims rose by 5,000, to reach a total of 215,000. The four-week moving average remains flat, at 211,750. Insured unemployment decreased by 5,000 to reach 1.64 million.

10/21/2018: in October of 2018 : For the first time since the great recession, the US economy is named the most competitive in the world. Employees and businesses directly affected by Hurricane Florence may be eligible for Disaster Unemployment Assistance. A recent study revealed that market competition is dying due to an excessive number of huge corporations in the US economy. The new number of unemployment benefits claims declined by 5,000, to reach a total of 210,000. New jobs were created in KY, NC, and MI in Manufacturing and Wholesale. The four-week moving average rose by 2,000, to reach 211,750. Insured unemployment fell by 13,000 to reach 1.64 million - the lowest level since August 1973.

10/14/2018: in October of 2018 : September's average hourly rate is $27.24, an increase of +2.8% since October of 2017. The highest wage increases took place in Information +4.5% and Retail +3.7%. The slowest wage increases are in Wholesale +2.1%, Healthcare +2.2% and Business Services +2.2%. Over the past 12 months, Business Services added 560,00 and Healthcare totaled 453,000 new jobs, while Information Services lost 17,000 jobs. The current unemployment rate among high school graduates is 3.7%, associate degree 3.2%, and a bachelor's degree 2.0%. The new number of claims rose by7,000 to 214,000. The four-week moving average increased by 2,500 to 209,500. Insured unemployment is at 1.66 million.



10/8/2018: in October of 2018 : September's national unemployment rate decreased to 3.7%, the lowest rate in half a century, while 55 years and older enjoy an even lower rate of 3.1%. US Employers added 134,000 new jobs: Professional Services +54,000, Transportation +24,000, Construction +23,000, Manufacturing +18,000, and Healthcare +18,000, while Retail and Hospitality lost -20,000 and -17,000 jobs respectively. Hourly rates increased 8 cents since August at an annualized growth rate of 2.8%. The US labor force participation rate declined to 62.7%. The weekly unemployment claims decreased by 8,000, to 207,000. The four-week moving average increased by 500, to reach 207,000. Insured unemployment declined by 13,000 to reach 1.65 million.

10/1/2018: in October of 2018 : September's national unemployment rate forecast is 3.8%. A new study confirmed that an increase in the minimum wages benefits businesses and the US economy. Provo, UT (Silicon Slopes) is the fastest growing tech employment metropolitan area. Sioux Falls, SD is the best city for young professionals to start their career. The new number of unemployment benefit claimants rose by 12,000 to reach 214,000 mainly due to job gains in CA and TX. Insured unemployment increased by 16,000 to reach 1.66 million.

9/23/2018: in September of 2018 : The US unemployment rates are at a historically lowest point: ID at 2.8%, AR at 3.6%, TX at 3.9%, ME at 2.9%, CA at 4.1%, and IL at 4.1%. All but WV, DC and AK are at full employment. The new number of unemployment benefits claims declined by 3,000, to reach a total of 201,000 - the lowest level since Nov 1969. New jobs were mainly created in NY, MI, and NJ in Transportation, Warehousing, and Manufacturing. The four-week moving average fell by 2,250, to reach 205,750. Insured unemployment decreased by 55,000 to reach 1.65 million - the lowest level since Aug 1973.

9/16/2018: in September of 2018 : August's average hourly rate is $27.16, an increase of +2.9% since August of 2017. Highest year-over-year wage increases are for cooks +10.5%, farm contractors +11.3, and Prosthodontists +13.3%. The slowest growth of +0.1% is for Postmasters and Office Support employees. Peoria, IL has the highest over-the-year wage increase of +23.8%. The new number of claims fell by 1,000 to 204,000 - the lowest level since December of 1969. The four-week moving average declined by 2,000 to 208,000. Insured unemployment decreased by 15,000 to reach 1.70 million - the lowest level since December of 1973.

9/9/2018: in September of 2018 : August's national unemployment rate remains unchanged at 3.9% with additional 201,000 jobs added by US employers: Professional Services +53,000, Healthcare +53,000, Construction +23,000, Wholesale +22,000, and Transportation +20,000, while Information and Retail lost -6,000 jobs each. Hourly rates increased 10 cents since July at an annualized growth rate of 2.9%. The US labor participation rate declined to 62.7%. The weekly unemployment claims decreased by 10,000, to 203,000 - the lowest level since December of 1969 as well as the four-week moving average, which fell by 2,750, to reach 209,500. Insured unemployment declined by 3,000 to reach 1.71 million.

9/3/2018: in September of 2018 : A recent study shows that despite the challenges faced by employers to find workers at the historically lowest unemployment rate, employees don't ask for a rase out of fear to be laid off. Corporate headcount reductions became one of the most commonly used mechanisms to decrease corporate costs. Gone are the days when employers discriminated against workers with tattoos. A new study conducted at the University of Miami discovered that employees with tattoos enjoy the same level of employment and compensation. The number of new unemployment benefits claims increased by 3,000, to reach a total of 213,000, mostly due to jobs losses in NY. The four-week moving average declined by 1,500, to reach 212,250 - the lowest level since December of 1969. Insured unemployment decreased by 20,000 to reach 1.71 million.



8/26/2018: in August of 2018 : A recent survey showed that American workers are less likely to relocate for a new job due to disparities in housing markets and family reasons. A federally-funded $1.7B/year Job Corps program delivers little to no results. Better educated parents spend 30 min/day more helping their children than their less educated counterparts. A current unemployment rate for workers with a disability is 10.5%. US home sales is 1.5% softer than one year ago. The number of unemployment claims decreased by 2,000 to reach 210,000. The four-week moving average declined by 1,750 to 213,750. Insured unemployment fell by 2,000 to reach 1.73 million.

8/19/2018: in August of 2018 : As businesses are facing historically low unemployment rate, many opt out to hiring high school students. The unemployment rates are at their historically lowest point in ID at 2.9% and CA at 4.2%. HI has the lowest rate of 2.1%. WV, DC, and AK are the only states with unemployment above 5%. The new number of unemployment benefits claims declined by 2,000, to reach a total of 212,000. New jobs were mainly created in PA in Transportation and Warehousing. The four-week moving average rose by 1,000, to reach 215,500. Insured unemployment fell by 39,000 to reach 1.72 million. Currently, 5.9 million of the US employees hold temporary jobs.

8/12/2018: in August of 2018 : The current average hourly rate is $27.05, an increase of +2.7% since July of 2017 (or -0.2% when adjusted for inflation). During the same period, the real national GDP grew by an estimated +4.1%. US jobless with the longest history of unemployment are among the latest beneficiaries of a healthy economy. US unemployment declined by 284,000 to 6.3 million since June. The new number of unemployment claims decreased by 6,000 to 213,000, mostly due to new jobs in KY in manufacturing and transportation. The 4-week moving average fell by 500 to 214,250. Insured unemployment rose by 29,000 to reach 1.76 million.

8/6/2018: in August of 2018 : July's national unemployment rate is 3.9% with additional 157,000 jobs added by US employers: Professional Services +51,000, Hospitality +40,000, Manufacturing +37,000, Education +22,000, while Government lost -13,000 jobs. Hourly rates increased by 7 cents since June at an annualized growth rate of 3.0%. The labor participation rate remains unchanged at 62.9%. The weekly unemployment claims increased by 1,000, to 218,000. The four-week moving average decreased by 3,500, to reach 214,500. Insured unemployment fell by 23,000 to reach 1.72 million.

7/29/2018: in July of 2018 : July's US national unemployment rate forecast is 3.9% with 180,000 new jobs added to the US economy. US employees are quitting their jobs at a 17-year highest rate of 2.4%. The most impacted industries are Mining, Retail and Services at 3.3%, while the US Federal government is at the lowest 0.5%. GDP expanded 4.1% in the second quarter of 2018 - the fastest growth in the recent years. The number of unemployment claims rose by 9,000 to reach 217,000, mainly due to job losses in MI and KY in the manufacturing industry. The four-week moving average decreased by 2,750 to 218,000. Jobless claims are trending at a 50-year low. Insured unemployment fell by 8,000 to reach 1.75 million.

7/22/2018: in July of 2018 : The unemployment rates are at their historically lowest point in ID at 2.9%, ME at 2.9%, and CA at 4.2%. All but 3 states have their unemployment rates below 5% (full employment level). In the past 12 months, the number of unemployed decreased in Services by +141,000, Retail +134,000, while unemployed in Construction increased by 36,000. The new number of unemployment benefits claims declined by 8,000, to reach a total of 207,000 - the lowest level since Dec 1969. New jobs were mainly created in NY, MI, and NJ in Transportation, Warehousing, and Manufacturing. The four-week moving average fell by 2,750, to reach 220,500. Insured unemployment rose by 8,000 to reach 1.75 million. Currently, 5.9 million of the US employees hold temporary jobs.

7/15/2018: in July of 2018 : June's average hourly rate is $26.98, an increase of +2.7% since June of 2017. The highest wage increases took place in Healthcare and Business Services. The slowest growth occurred in the Information industry, while Retail hourly wages decreased since May. In the past 12 months inflation outpaced hourly earnings by 0.1%, while corporate profits outperformed both with an average annualized rate of 6.5%. The new number of claims fell by 18,000 to 214,000. The four-week moving average declined by 1,750 to 223,000. Insured unemployment decreased by 3,000 to reach 1.74 million.

7/8/2018: in July of 2018 : June's US unemployment rate increased by +0.2% to 4.0%. Employers added 213,000 new jobs: Education +54,000, Services +50,000, and Manufacturing +36,000, while Retail lost -22,000 jobs. Manufacturing continued to grow and has added +285,000 in the past 12 months - the pace of growth unseen since 1995. During the same period, federal employment has decreased by 16,000 jobs. Hourly wages increased by +5 cents since May. The labor participation in the economy inched up +0.2% to 62.9%. The weekly claims for unemployment benefits rose by 3,000, to 231,000. The four-week moving average increased by 2,250, to reach 224,500. Insured unemployment increased by 32,000 to reach 1.74 million.

7/2/2018: in July of 2018 : The maximum weekly unemployment benefits increased since 2017 in many states. The latest increase took place in Oregon, where the Employment Department increased max benefits from $604 to $624 effective July 1. MA provides the longest coverage with up to 30 weeks of UI, while FL and NC the fewest number of 12 weeks. Trump's administration is about to revoke the rule that previously authorized certain spouses of H-1B visa holders to work in the US. This decision may affect up to 100,000 people who will likely lose their jobs. The new number of unemployment benefit claimants unexpectedly rose by 9,000 to reach 227,000 mainly due to job losses in NJ and CA. The four-week moving average increased by 1,000, to reach 222,000. Insured unemployment decreased by 21,000 to reach 1.71 million.

6/24/2018: in June of 2018 : The unemployment rate is at the historical lowest point in HI at 2.0%, WI at 2.8%, ID at 2.9%, and CA at 4.2%. All but 4 states have their unemployment rates below 5%. California and Texas remain top markets to earn the best wages. The percentage of black employees at major US banks has declined for the past 6 years. Starting salaries for recent graduates at major law firm have grown to $190,000. The new number of unemployment benefits claims declined by 3,000, to reach a total of 218,000. The four-week moving average fell by 4,000, to reach 221,000. Insured unemployment rose by 22,000 to reach 1.72 million. Currently, 5.9 million of the US employees hold temporary jobs.

6/17/2018: in June of 2018 : The new number of unemployment claims decreased by 4,000 to 218,000. The four-week moving average increased by 1,250 to 224,250. Insured unemployment decreased by 49,000 to reach 1.70 million - the lowest rate since December 1973. March's unemployment rate among population segments were as follows: for Asians 2.1% (down 0.7%), Whites 3.5% (down 0.1%), adult women 3.3% (down 0.2%), adult men 3.5% (down 0.2), Hispanics 4.9% (up 0.1%), African Americans 5.9% (down 0.7 since April and down 1.7% since May of 2017), and teenagers at 12.8% (down 0.1% since April and down 1.5% since May of 2017). The number of long-term unemployed decreased to 1,19 million (down 104,000).



6/10/2018: in June of 2018 : The current average hourly rate is $26.92, an increase of +2.7% since May of 2017 (or +0% when adjusted for inflation). During the same period, the real national GDP grew by an estimated +2.8% while Consumer Price Index increased by 2.7%. The new number of unemployment claims decreased by 1,000 to 222,000. The four-week moving average increased by 2,750 to 225,500. Insured unemployment rose by 21,000 to reach 1.74 million.

6/3/2018: in June of 2018 : May's US unemployment rate decreased to 3.8% - the lowest level since 2000. This rate is substantially below sustainable full employment. Employers added 223,000 new jobs: Healthcare +39,000, Professional Services +31,000, and Retail +31,000, while Utilities Industry lost -1,000 jobs. Hourly wages increased by +8 cents since April. The labor participation rate remains declined to 62.7%. The weekly claims for unemployment benefits declined by 13,000, to 221,000. The four-week moving average increased by 2,500, to reach 222,250. Insured unemployment decreased by 16,000 to reach 1.73 million.

5/27/2018: in May of 2018 : Economists anticipate that the US employers will add nearly 200,000 new jobs in May. According to a new study by Georgetown University, as baby boomers start to retire, approximately 55 million positions will become open by 2020. Employers report significant shortages of healthcare professionals and pilots. The Personal Consumption Index is down 0.6% (at 1.85%). The long-term unemployment improved by 340,000 since April of 2017. The number of unemployment claims grew by 11,000 to reach 234,000, mainly due to job losses in CA and PA in construction. The four-week moving average rose by 6,250 to 219,750. Insured unemployment increased by 29,000 to reach 1.74 million.

5/20/2018: in May of 2018 : Six US states are at their historically lowest unemployment rate. HI at 2.0%, ME at 2.7%, WI at 2.8%, ID 2.9%, KY at 4.0%, and CA at 4.2%. Currently, all but 4 states have their unemployment rate below 5%. 4 in 10 Americans couldn't cover emergency expenses. The new number of unemployment benefits claims increased by 11,000, to reach a total of 222,000 mainly due to job losses in MO and KY. The four-week moving average decreased by 2,750, to reach 213,250 - the lowest level since December 1969. Insured unemployment fell by 87,000 to reach 1.71 million - the lowest level since December 1973.

5/13/2018: in May of 2018 : April's average hourly rate is $26.84, an increase of +2.6% since April of 2016. The highest wage increases took place in Finance and Construction. The slowest growth happened in Manufacturing and Wholesale. The new number of claims remains unchanged at 211,000. The four-week moving average dropped by 5,500 to 216,000. Insured unemployment rose by 30,000 to reach 1.79 million.

5/6/2018: in May of 2018 : April's national unemployment rate is 3.9% (down 0.2% since March and the lowest rate since 2000) with additional 164,000 new jobs added by US employers - Professional Services +54,000 (518,000 in the last 12 months), Healthcare +31,000, Manufacturing +24,000, while Wholesale lost -10,000 jobs. Hourly rates increased by 4 cents since March at an annualized growth rate of 2.6%. There is a growing concern about a disconnect between decreasing unemployment rate and stagnating wages. The labor participation rate slightly decreased by -0.1% to 62.8% (3.4% higher than the pre-recession rate). The weekly claims for unemployment benefits increased by 2,000, to 211,000. The four-week moving average decreased by 7,750, to reach 221,500 - the lowest level since 1973. Insured unemployment fell by 77,000 to reach 1.76 million - the lowest level since 1973.

4/29/2018: in April of 2018 : April's forecast unemployment rate is 4.0% +/-0.1%. KY at 4.0% and ME at 2.7% are at historically lowest unemployment rate since 1976. Private sector compensation increased 2.9% since March of 2017 - the most significant increase since 2008. The new number of unemployment benefits claims decreased by 24,000 last week, to reach a total of 209,000 - the lowest level since December 1969. NY and CA added most of the new jobs in Education and Service industries. The four-week moving average increased by 2,250, to reach 229,250. Insured unemployment fell by 29,000 to reach 1.84 million.

4/22/2018: in April of 2018 : The current unemployment rate is the lowest since 2000. Many of the US states don't have enough unemployment funding to withstand an economic slowdown. A new study revealed that unattractive people earn significantly more money while good-looking people are happier. New employment trend: white men are getting passed by employers due to race and gender. The new number of unemployment benefits claims decreased by 1,000, to reach a total of 232,000, mainly due to new jobs in NJ, PA, and TX in the education, manufacturing, and transportation industries. The four-week moving average increased by 1,250, to reach 231,250. Insured unemployment decreased by 15,000 to reach 1.86 million.

4/15/2018: in April of 2018 : The current average hourly rate is $26.82, an increase of +2.7% since March of 2017 (or +0.3% when adjusted for inflation), while seasonally adjusted earnings stayed unchanged. During the same period, the real national GDP grew by an estimated +3.2%. The new number of unemployment claims decreased by 9,000 to 233,000, mostly due to new jobs in NJ, NY, and TX in transportation and warehousing. The four-week moving average increased by 1,750 to 230,000. Insured unemployment rose by 53,000 to reach 1.87 million.

4/8/2018: in April of 2018 : March's national unemployment rate remains unchanged at 4.1% with additional 103,000 new jobs added by US employers - Professional Services +33,000, Healthcare +25,000, Manufacturing +22,000, while Construction lost -15,000 jobs. This year, the employment situation has been improving 10% faster than in 2017. Hourly rates increased by 8 cents since February at an annualized growth rate of 2.7%. The labor participation rate slightly decreased by -0.1% to 62.9% (3.3% higher than the pre-recession rate). The weekly claims for unemployment benefits increased by 24,000, to 242,000 mainly due to job losses in NY and CA in Services and Construction. The four-week moving average increased by 3,000, to reach 228,250. Insured unemployment fell by 64,000 to reach 1.81 million - the lowest level since December of 1973.

4/1/2018: in April of 2018 : March's national unemployment rate forecast is 4.1% +/-0.1% with over 150,000 new jobs added in the US. Iowa, as well as many other Midwest states, experiences an employment problem: there are too many openings and just not enough people to fill them. If all unemployed were hired, there would still be more than 180 thousand unfilled jobs.The number of unemployment claims dropped by 12,000 to reach 215,000 - the lowest level since January of 1973, mainly due to new jobs in CA and VA in the service industry. The four-week moving average decreased by 4,000 to 224,500. Insured unemployment rose by 35,000 to reach 1.87 million.

3/25/2018: in March of 2018 : Studies show that bad bosses cost companies as much as one-third of productivity losses. The current economic expansion is the 3rd longest in US history, and the economy is approaching the end of the 10-year economic cycle. Economists are unclear what will cause an imminent economic downturn. The long-term unemployment improved by 232,000 since July of 2016. There are currently almost 154 million Americans with full or part-time jobs. The number of unemployment claims rose by 3,000, to reach 229,000, mainly due to job losses in CA across multiple industries. The four-week moving average increased by 2,250, to 223,750. Insured unemployment decreased by 57,000 to 1.83 million - the lowest level since December of 1973.

3/18/2018: in March of 2018 : The unemployment rate is at the historical lowest point in ME at 3.0%, CA at 4.4%, and MS at 4.6%. Currently, all but four states have their unemployment rates below 5%. The US Military is experiencing difficulties to meet its recruiting quotas due to low unemployment. The Government encourages older workers to start small businesses. Help is available at at SBA.gov Retail sales declined for the past three months with 7,000 US stores shut down in 2017. Most of them were serving America's middle-class. The new number of unemployment benefits claims decreased by 4,000, to reach a total of 226,000. The four-week moving average increased by 750, to reach 221,500. Insured unemployment rose by 4,000 to reach 1.88 million.

3/13/2018: in March of 2018 : February's national unemployment rate remains unchanged at 4.1% with additional 313,000 new jobs added by US employers - Construction +61,000, Retail +50,000, Professional Services +50,000, and Manufacturing +31,000. Hourly rates increased by 4 cents since January and fairly typical annual growth rate of 2.6% since January of 2017. The labor participation rate remains improved by 0.3% to 63.0%, but it is still 3.2% higher than the pre-recession rate. The weekly claims for unemployment benefits increased by 21,000, to 231,000 mainly due to job losses in NY and CA in Services and Construction. The four-week moving average increased by 2,000, to reach 222,500. Insured unemployment fell by 64,000 to reach 1.87 million.

3/4/2018: in March of 2018 : Studies confirm the size of the US shadow economy as roughly $2 trillion or 10% of GDP. Typical examples of under-the-table work are housecleaning, babysitting, web design and landscaping. While the unemployment rate is predicted to fall as low as 3.8% in 2018, and an average after-tax income increased by 0.6% in January, Federal Reserve chairman J. Powell sees no evidence of trouble in the US economy. The long-term unemployment improved by 404,000 or 22% since January of 2017. The number of unemployment claims decreased by 10,000 to reach 210,000 - the lowest level since December 1969. The four-week moving average fell by 5,000, to 220,500. Insured unemployment increased by 57,000 to reach 1.93 million.

2/14/2018: in February of 2018 : The US hourly wages have increased to $26.74 (+2.9% since January of 2017). Consumer price index rose +2.1% with the highest increase of +22.5% in fuel and the slowest of -1.2% in new vehicles. During the same period, the real national GDP increased at a faster pace of +2.3% thus signifying an employee market. The number of building permits rose +2.8 %. The new number of unemployment claims decreased by 9,000 to 221,000, mainly due to the renewal of contracts in professional, scientific and technical industries in MO, CA, and NY. The four-week moving average declined by 10,000 to 224,500, the lowest level since March 1973. Insured unemployment decreased by 33,000 to reach 1.92 million.

2/4/2018: in February of 2018 : January's US unemployment rate remains unchanged at 4.1%. Employers added 200,000 new jobs: Education +38,000, Construction +36,000, and Hospitality +35,000, while Information Industry lost -6,000 jobs. Professional Services added +448,000 new jobs in the past 12 months, Hospitality added +263,000 Construction added +226,000, Manufacturing added +186,000, while Utilities are flat, and Information Industry lost -46,000. Hourly wages increased by +9 cents since December. The labor participation in the economy remains unchanged at 62.7%, and it is still 3.5% lower than the pre-recession level. The weekly claims for unemployment benefits rose by 7,000, to 284,000. The four-week moving average increased by 3,000, to reach 278,750. Insured unemployment increased by 29,000 to reach 2.26 million.

1/28/2018: in January of 2018 : A new survey shows that most of the US employers prefer to pay workers bonuses instead of increasing their salaries as a result of the tax cut. President Trump anticipates a significant increase in UK-US trade. US new home sales posted a substantial drop in 16 months due to the house price inflation outpacing the wage growth. The number of unemployment claims rose by 17,000 to reach 233,000, mainly due to job losses in NY and GA in transportation, warehousing, and manufacturing. The four-week moving average decreased by 3,500 to 240,000. Insured unemployment fell by 28,000 to reach 1.94 million.

1/21/2018: in January of 2018 : A new study revealed that Americans are increasingly optimistic about the job market with 56% convinced it is a good time to find a great job. 8 US states are at their historically lowest unemployment rate. HI at 2.0%, ID at 2.9%, TN at 3.1%, AL at 3.5%, TX at 3.8%, WA at 4.5%, CA at 4.6%, and MS at 4.8%. Currently, all but 6 states have their unemployment rate below 5%. The new number of unemployment benefits claims decreased by 41,000, to reach a total of 220,000 - the lowest level since February 1973, mainly due to the renewal of contracts in NY, GA, and PA in the transportation, manufacturing, and construction industries. The four-week moving average decreased by 6,250, to reach 244,500. Insured unemployment rose by 76,000 to reach 1.95 million.

1/14/2018: in January of 2018 : A new study shows that many of the US jobs created in the past ten years have been temporary. The overall number of healthcare jobs in the US Economy has surpassed manufacturing and retail. The US hourly wages have increased by 9 cents to $26.63 (+2.5% since December of 2016). The new number of unemployment claims rose by 11,000 to 261,000, mainly due to job losses in NY, CA, and GA in the service industry. The four-week moving average increased by 9,000 to 250,750. Insured unemployment decreased by 35,000 to reach 1.87 million - the lowest level since December of 1973.

1/6/2018: in January of 2018 : Reported in January of 2018, 148,000 new jobs were created in December. The unemployment rate remains unchanged at 4.1% with a total of 6.6 million unemployed (down 40,000). December's unemployment rate among population segments were as follows: for Asians 2.5% (down 0.5%), Whites 3.7% (up 0.1%), adult women 3.7% (flat), adult men 3.8% (up 0.1%), Hispanics 4.9% (up 0.2%), African Americans 6.8% (down 0.5% since November and down 0.6% since December of 2016), and teenagers at 13.6% (down 2.3%). Non-farm, seasonally adjusted employment increased by 104,000 (in November decreased by 57,000) to reach 154 million. The number of long-term unemployed decreased to 1.52 million (down 78,000) in December or 23.0% (down 0.9%) of all unemployed. The unemployment rate in December increased for the mid-term unemployment category.

12/17/2017: in December of 2017 : US job openings remain at a record high level, with 6 million available opportunities, while the factory activity index edged down by 0.5 to 58.2. The price of labor per unit of output, dropped 0.2%. There is currently no evidence that the economy is getting close to overheating due to a tightening labor market. The US hourly wages increased to $26.55 (+2.5% since November of 2016). Consumer price index remains unchanged at 2.2%, while the real national GDP is up to +3.3%. The new number of unemployment claims decreased by 11,000 to 225,000, mainly due to incremental jobs in NY, CA, PA, and TX. The four-week moving average declined by 6,750 to 234,750. Insured unemployment fell by 27,000 to reach 1.89 million.

12/10/2017: in December of 2017 : November's US unemployment rate remains unchanged at 4.1%. Employers added 228,000 new jobs: Education and Healthcare +54,000, Professional Services +46,000, and Manufacturing +31,000, while Information Industry lost -4,000 jobs. Hospitality added +274,000 new jobs in the past 12 months, Health and Education added +218,000, Manufacturing +189,000, Financial Services +150,000, Construction +132,000, Mining added 61,000, while Government remains unchanged, and Information Industry lost -83,000. Hourly wages increased by +5 cents since November. The labor participation in the economy remains unchanged at 62.7%, and it is still 3.5% lower than the pre-recession level. The weekly claims for unemployment benefits decreased by 2,000, to 236,000. The four-week moving average declined by 750, to reach 241,500. Insured unemployment fell by 52,000 to reach 1.91 million.

12/3/2017: in December of 2017 : November's national unemployment rate is expected to increase to 4.3%. A new study found that the new US tax bill is unlikely to increase the rate of economic growth or decrease the unemployment. The US factory activity index fell 0.5% to 58.2 in November signifying a minor economic slowdown. The new number of unemployment benefit claimants dropped by 2,000 to reach 238,000 mainly due to job gains in CA and TX. The four-week moving average increased by 2,250, to reach 242,250. Insured unemployment rose by 42,000 to reach 1.96 million.

11/26/2017: in November of 2017 : Recent studies show that low-wage employees from the service industry are three times as likely to be sexually harassed than their counterparts from other industries. The real GDP expanded at an annualized rate of 3% or higher in the past three consecutive quarters. Federal Reserve expressed concerns that financial markets are overheated and may pose a danger to the US economy. The number of new unemployment benefits claims decreased by 13,000, to reach a total of 239,000, mostly due to temporary jobs in TX and MN. The four-week moving average increased by 1,250, to reach 239,750. Insured unemployment increased by 36,000 to reach 1.90 million.

11/19/2017: in November of 2017 : Currently, only 5 of US states have their unemployment rates higher than 5%. The unemployment rate is at historically lowest levels in HI at 2.2%, ID at 2.9%, TN at 3.0%, AL at 3.6%, TX at 3.9%, WA at 4.5% and MS at 4.9%. There are some signs of economic slowdown. Economists estimate 10% chance of recession in the next 12 months. The new number of unemployment benefits claims increased by 10,000, to reach a total of 249,000, mainly due to job losses in Construction in NY and MN. The four-week moving average rose by 6,500, to reach 237,750. Insured unemployment decreased by 44,000 to reach 1.86 million - the lowest level since December of 1973.

11/12/2017: in November of 2017 : Studies show that trade schools give better chances for high earnings later in life than 4-year colleges. Many of trade jobs pay on average $60,000 and more, while unlikely to become automated in the foreseen future. The US hourly wages have increased to $26.53 (+2.4% since October of 2016). Consumer price index is at 2.2%, while the real national GDP is up +3.1%. The new number of unemployment claims rose by 10,000 to 239,000, mainly due to job losses in MI and PA. The four-week moving average declined by 1,250 to 231,250 - the lowest level since March 1973. Insured unemployment increased by 17,000 to reach 1.90 million.

11/5/2017: in November of 2017 : October's US unemployment rate declined to 4.1% (down -0.1%) and is at the lowest level since December of 2000. Many businesses are struggling to find employees - an indication of a significant skill gap between demand and supply. Employers added 261,000 new jobs: Hospitality +106,000, Professional Services +50,000, Healthcare +41,000, and Manufacturing +24,000, while Retail lost -8,000 jobs. Manufacturing added +156,000 new jobs since October of 2016. Hourly rates slightly declined by -1 cents since September. The labor participation rate experienced a significant drop of -0.4% to 62.7%, and it is still 3.5% higher than the pre-recession level. The weekly claims for unemployment benefits decreased by 5,000, to 229,000. The four-week moving average declined by 7,250, to reach 232,500 - the lowest level since April of 1973. Insured unemployment fell by 15,000 to reach 1.88 million - the lowest level since December of 1973.

10/29/2017: in October of 2017: October's national unemployment rate forecast is 4.2% with 200,000 new jobs added by US employers. California is about to start a basic income experiment. US manufacturing has lost 30% of jobs since 1997, while the trucking industry is currently short 50,000 employees and the warehousing renaissance created by Amazon drives a hiring spree across the US. The number of unemployment claims rose by 10,000 to reach 233,000, mainly due to job losses in CA, NY, and PA. The four-week moving average decreased by 9,000 to 239,500. Insured unemployment fell by 3,000 to reach 1.89 million - the lowest level since December 1973.

10/22/2017: in October of 2017: The US economy is statistically at full employment. Currently, most of the US jobseekers should be able to find a job if they want one. 4 US states are at their historically lowest unemployment rate. ID at 2.8%, TN at 3.0%, AL at 3.8%, and TX at 4.0%. Currently, all but ten US states have their unemployment rate below 5%. The new number of unemployment benefits claims decreased by 22,000, to reach a total of 222,000 - the lowest level since March 1973 - mostly due to jobs added in FL, MI, and GA by Construction and Retail. The four-week moving average decreased by 9,500, to reach 248,250. Insured unemployment fell by 16,000 to reach 1.89 million - the lowest level since April of 2000.

10/16/2017: in October of 2017: September's average hourly rate is $26.55, an increase of +2.9% since October of 2016, while consumer price index rose 2.2 %. During the same period, the real national GDP outperformed both of them at an estimated +3.1%. FED Labor Market Conditions Index is up 40% since September of 2016. Also, 70% of Americans believe their job cannot and will not be automated. The new number of claims decreased by 15,000 to 243,000. The four-week moving average dropped by 9,500 to 257,500. Insured unemployment fell by 32,000 to reach 1.89 million - the lowest level since December of 1973.

10/8/2017: in October of 2017 : September's national unemployment rate decreased to 4.2% (down 0.2%) while the economy lost 33,000 jobs mostly due to decline in employment in food and drink industries as a result of Hurricanes Irma and Harvey. Hourly rates increased by impressive 12 cents since August as well as the annual growth rate of 2.9% since September of 2016. The labor participation rate surged to 63.1% (+0.2%). The weekly claims for unemployment benefits decreased by 12,000, to 260,000. The four-week moving average fell by 9,500, to reach 268,250. Insured unemployment rose by 2,000 to reach 1.94 million.

10/1/2017: in October of 2017 : September's national unemployment rate is expected to stay flat at 4.4% with approximately 90,000 new jobs added by US employers. US job openings are at a record high, and qualified workers are not easy to find. Hurricanes in Florida and Texas devastated the economy, but economists predict that the impact will only be temporary and as a side-effect may induce an impressive economic growth later this year. The new number of unemployment benefit claimants increased by 12,000 to reach 272,000 mainly due to Hurricanes Harvey and Irma job losses in FL and GA. The four-week moving average rose by 9,000, to reach 277,750. Insured unemployment dropped by 45,000 to reach 1.93 million, the lowest level since mid-2000.

9/24/2017: in September of 2017 : The unemployment rate is lowest in ND at 2.3%, CO at 2.4%, HI at 2.6%, NH at 2.7%, and NE at 2.8%. Currently, all but 11 states have their unemployment rates below 5%. The US Academy of Sciences confirmed that the long-term fiscal impact of the lowest-skilled immigrants is negative, while that of skilled immigrants is positive. The construction industry is struggling to recruit enough people to keep up with growing demand for homes. The new number of unemployment benefits claims decreased by 23,000, to reach a total of 259,000, mainly due to employees returning to work in Texas. The four-week moving average increased by 6,000, to reach 268,750. Insured unemployment rose by 44,000 to reach 1.98 million.

9/10/2017: in September of 2017 : The US hourly wages have increased to $26.39 (+2.5% since August of 2016). Consumer price index rose +1.7% with the highest growth of +7.5% in utilities and the slowest of -4.1% in used cars. During the same period, the real national GDP increased at a faster pace of +2.2%. The number of building permits declined -3.5 %. The new number of unemployment claims soared by 62,000 to 298,000, the highest level since April of 2015, mainly due to the effect of Hurricane Harvey in Texas. Additional job losses are expected in Florida due to Hurricane Irma. The four-week moving average increased by 13,500 to 250,250. Insured unemployment decreased by 5,000 to reach 1.94 million.

9/4/2017: in September of 2017 : August's national unemployment rate increased to 4.4% (up 0.1%) with additional 156,000 jobs added by US employers - Manufacturing +36,000, Professional Services +40,000, Construction +28,000, and healthcare +25,000. Manufacturing added +155,000 new jobs since December of 2016 - a growth rate unseen since the recession. Hourly rates increased by modest 3 cents since July and typical annual growth rate of 2.5% since August of 2016. The labor participation rate remains unchanged 62.9% (flat), but it is still 3.4% higher than the pre-recession rate. The weekly claims for unemployment benefits increased by 1,000, to 236,000. The four-week moving average decreased by 1,250, to reach 236,750. Insured unemployment fell by 12,000 to reach 1.94 million.

8/27/2017: in August of 2017 : August's preliminary national unemployment rate is 4.3% with an estimated 185,000 new jobs added to the US economy. The long-term unemployment improved by 232,000 since July of 2016. There are currently almost 154 million Americans with full or part-time jobs. The number of unemployment claims rose by 2,000 - less than expected, to reach 234,000, mainly due to job losses in CA in the service industry. The four-week moving average decreased by 2,750, to 237,750. Insured unemployment remains unchanged at 1.96 million.

8/20/2017: in August of 2017 : 6 US states are at their historically lowest unemployment rate. ND at 2.2%, CO at 2.4%, AR at 3.4%, TN at 3.4%, OR 3.8%, and WA at 4.5%, while CA and MS lost their positions since July. Currently, all but 10 states have their unemployment rate below 5%. US employers created 1M new jobs since Jan 2017. More women and racial minorities are among US top executives than ever before. The new number of unemployment benefits claims decreased by 12,000, to reach a total of 232,000. The four-week moving average fell by 500, to reach 240,500. Insured unemployment fell by 3,000 to reach 1.95 million.

8/13/2017: in August of 2017 : The US hourly wages have increased to $26.36 (+2.5% since July of 2016), while consumer price index rose 1.7%. During the same period, the real national GDP increased at a slower pace of +2.1%. The number of building permits surged 7.5 %. The new number of unemployment claims increased by 3,000 to 244,000, mainly due to job losses in KS in Business and Professional Services. The four-week moving average decreased by 1,000 to 241,000. Insured unemployment fell by 16,000 to reach 1.91 million.

8/5/2017: in August of 2017 : July's national unemployment rate decreased to 4.3% (down 0.1%) with additional 209,000 jobs added to the US economy, mostly in Hospitality, Healthcare, and Professionals Services. Hourly rates improved by 9 cents since June and 2.5% since July of 2016. The labor participation rate inched up to 62.9% (+0.1%) but is still 3.3% below the pre-recession level (i.e. 8.4 million jobs permanently vanished from the US economy). The weekly claims for unemployment benefits decreased by 5,000, to 240,000. The four-week moving average rose by 2,500, to reach 241,750. Insured unemployment increased by 3,000 to reach 1.97 million.

7/30/2017: in July of 2017 : July's preliminary national unemployment rate is 4.3% with 180,000 new jobs added to the US economy. The Core Personal Consumption Expenditures Index is down 0.1% (at 1.4%). The long-term unemployment improved by 322,000 since June of 2016. The number of unemployment claims grew by 10,000 to reach 244,000, mainly due to new jobs in NY in transportation and warehousing. The four-week moving average remains unchanged at 244,000. Insured unemployment decreased by 13,000 to reach 1.96 million.

7/23/2017: in July of 2017 : 8 US states are at their historically lowest unemployment rate. Currently, all but 6 states have their unemployment rate at 5% and below, with almost half of all states with the rate below 4%. CO and ND lead with the rate of 2.3% while AK shuffles in the last place with 6.8%. The real unemployment rate is 8% (down 0.2% since May). The new number of unemployment benefits claims decreased by 15,000, to reach a total of 233,000. The four-week moving average fell by 2,250, to reach 243,750. Insured unemployment increased by 28,000 to reach 1.98 million.

7/16/2017: in July of 2017 : While U.S. job growth surpassed expectations, wages continue to lag. The average hourly rate is $26.25, an increase of +2.5% since June of 2016, while consumer price index rose 1.6%. During the same period, the national real GDP grew faster at an estimated +2.1%. FRED's reported a decrease in Labor Market Index to +1.5% (-1.8%). The new number of claims fell by 3,000 to 247,000 mainly to new jobs in CA, MO, and MA offset by job losses in NY across multiple industries. The four-week moving average increased by 2,250 to 245,750. Insured unemployment fell by 20,000 to reach 1.95 million.

7/9/2017: in July of 2017 : June's national unemployment rate increased to 4.4% (up 0.1%) with additional 222,000 jobs added by US employers - Education and Health +45,000, Professional Services +35,000, and Financial Services +17,000. Professional Services industry has also been the largest job growth engine with over 600,000 jobs added in the past 12 months. Hourly rates increased by 4 cents since May and 2.5% since June of 2016. The labor participation rate has slightly increased to 62.8% (up 0.1%), but it is still 3.4% higher than the pre-recession rate, which means that 8.7 million jobs have permanently vanished from the economy). The weekly claims for unemployment benefits increased by 4,000, to 248,000. The four-week moving average rose by 750, to reach 243,000. Insured unemployment increased by 11,000 to reach 1.96 million.

6/25/2017: in June of 2017 : The US Federal Reserve Bank hiked the interest rates by 0.25% for the second time in 2017. The average hourly rate is $26.22, an increase of +2.5% since May of 2016, while consumer price index rose +1.9% and the national real GDP rose an estimated +1.7%. FRED's reported a favorable Labor Market Conditions Index of +3.5%. There are currently 6 million jobs that US employers are unable to fill due to the shortage of skills. The new number of claims decreased by 8,000 to 237,000 mostly due to job gains in TN and AR. The four-week moving average increased by 1,000 to 243,000. Insured unemployment increased by 6,000 to reach 1.94 million.

6/18/2017: in June of 2017 : Eight US states are at their historically lowest unemployment rate. CO at 2.3%, ND at 2.5%, ME at 3.2%, AR at 3.4%, OR 3.6%, WA at 4.5%, CA at 4.7%, and MS at 4.9%. Currently, all but seven states have their unemployment rate below 5%. The new number of unemployment benefits claims increased by 3,000, to reach a total of 241,000 mostly due to job losses in CA, MD, and WI in the service industry. The four-week moving average rose by 1,500, to reach 244,750. Insured unemployment increase by 8,000 to reach 1.94 million.

6/11/2017: in June of 2017 : May's national unemployment rate decreased to 4.3% (down 0.1%) with additional 138,000 jobs added by the US employers, mostly in Education and Healthcare +47,000, Professional Services +38,000, Hospitality +31,000, and Mining +6,000, while Government lost -9,000 jobs. The number of unemployed declined by 195,000 to 6.9 million. The labor participation rate weakened to 62.7% (down -0.2%). The weekly claims for unemployment benefits decreased by 10,000, to 245,000 due to the jobs added by Service industry in CA. The four-week moving average rose by 2,250, to reach 242,000. Insured unemployment fell by 2,000 to reach 1.92 million.

5/28/2017: in May of 2017 : While President Trump promises to increase U.S. economic growth to 4%, so far the economy continues to operate in a Goldilocks zone with an estimated annual rate of 1.2%. Low unemployment rates could encourage the Federal Reserve to raise interest rates. Manufacturing orders are also on the rise but at a slower pace. The new number of benefits claims increased by 1,000, to reach a total of 234,000, mainly due to job losses in MI. The four-week moving average fell by 5,750, to reach 235,250 - the lowest level since April of 1973. Insured unemployment increased by 24,000 to reach 1.92 million.

5/21/2017: in May of 2017 : Six US states are at or below their historically lowest unemployment rates. Only six remaining states have their unemployment rate above 5%. In a situation of almost full employment, economists are puzzled with more than modest increases in hourly wages. The new number of unemployment benefits claims decreased by 4,000, to reach a total of 232,000, mostly due to job gains in CA. The four-week moving average fell by 2,750, to reach 240,750. Insured unemployment declined by 22,000 to reach 1.90 million - the lowest level since November of 1988.

5/14/2017: in May of 2017 : The average hourly rate is $26.19, an increase of +2.5% since April of 2016, while consumer price index rose 2.3 %. During the same period, the national real GDP grew slower at an estimated +1.9%. FRED's reported a somewhat favorable Labor Market Index of +3.5%. The new number of claims decreased by 2,000 to 236,000. The four-week moving average increased by 500 to 243,500. Insured unemployment fell by 61,000 to reach 1.92 million - the lowest level since November of 1988.

5/7/2017: in May of 2017 : Unsurprisingly, April's national unemployment rate declined to 4.4% (down 0.1%) with an additional 211,000 jobs added by the US employers, mostly in Leisure and Hospitality +55,000, Education and Health Services +41,000, Professional and Business Services +39,000, Financial +19,000, and Mining +10,000, while high-tech lost -7,000 jobs. This sector has been on a decline in the past six months with cumulative 45,000 lost jobs. The number of unemployed fell by 146,000 to 7.06 million. The labor participation rate decreased to 62.9%. Also, it is 3.3% lower than the pre-recession rate. The weekly claims for unemployment benefits dropped by 19,000, to 238,000. The four-week moving average slightly increased by 750, to reach 243,000. Insured unemployment fell by 23,000 to reach 1.96 million.

4/30/2017: in April of 2017 : April's preliminary national unemployment rate is 4.4%. FRED's Labor Market index is down to 0.4%. The real unemployment rate is at 8.0%, 3.2% higher than the pre-recession rate of 4.8%. Real gross domestic product (GDP) rose at an unexpectedly low rate of 0.7% in the first quarter of 2017. The number of unemployment claims increased by 14,000 to reach 257,000, mainly due to 16,000 job losses in NY. The four-week moving average fell by 500, to reach 242,250. Insured unemployment increased by 10,000 to reach 1.99 million.

4/23/2017: in April of 2017 : Five US states are at their historically lowest unemployment rate. CO at 2.6%, ME at 3.0%, AR at 3.6%, OR 3.8%, and MS at 5.0%. Currently, all but 13 states have their unemployment rate below 5%. The new number of unemployment benefits claims increased by 10,000, to reach a total of 244,000. The four-week moving average decreased by 4,250, to reach 243,000. Insured unemployment fell by 49,000 to reach 1.98 million - the lowest level since April of 2000.

4/16/2017: in April of 2017 : The average hourly rate is $26.14, an increase of +2.7% since March of 2016. During the same period, the national real GDP grew a bit slower at an estimated +2.1%, while consumer price index increased by 2.4% resulting in paychecks remaining fundamentally flat year-over-year. FRED's reported a drop in Labor Market Index of -1.1% to 0.4%. The new number of claims decreased by 1,000 to 234,000 due to fewer job losses in MI. The four-week moving average declined by 3,000 to 247,250. Insured unemployment fell by 7,000 to reach 2.03 million.

4/9/2017: in April of 2017 : March's national unemployment rate decreased to 4.5% (down 0.2%) with additional 98,000 jobs added by the US employers, mostly in Professional and Business Services +56,000, Mining +11,000, Manufacturing +11,000, while retail lost -30,000 jobs. The number of unemployed declined by 326,000 to 7.2 million. The labor participation rate remains unchanged at 63.0% but is still 3.2% lower than the pre-recession rate. The weekly claims for unemployment benefits decreased by 25,000, to 234,000. The four-week moving average fell by 4,500, to reach 250,000. Insured unemployment fell by 24,000 to reach 2.03 million.

4/2/2017: in April of 2017 : March's preliminary national unemployment rate is 4.5%. While the overall unemployment situation has significantly improved since the recession, some minorities and lower-income groups remain affected by persistently high unemployment rates. It is highly unlikely that any improvements in those communities will be possible without outside intervention. The number of unemployment claims decreased by 3,000 to reach 258,000, mainly due to job recoveries in OH, KS, and MO in Manufacturing, Transportation, and Administrative industries. The four-week moving average rose by 7,750, to reach 254,250. Insured unemployment increased by 65,000 to reach 2.05 million.

3/26/2017: in March of 2017 : With nearly three-quarters of all states approaching full employment, average wages have started growing again. The new number of initial unemployment claims increased by 15,000 to reach 261,000, mainly due to job losses in OH, KS, and MO, including the closure of two Ohio coal plants. The four-week moving average rose by 3,500, to reach 246,500. Insured unemployment decreased by 35,000 to reach 1.99 million - a drop of nearly 200,000 since March of 2016. It is also the lowest level since May 2000.

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3/19/2017: in March of 2017 : The average hourly rate is $26.09, an increase of +2.8% since February of 2016. During the same period, the national real GDP grew slower at an estimated +1.6%. FRED's reported no change in the Labor Market Index of +1.3%. The new number of claims decreased by 2,000 to 241,000 due to job gains in NY mostly in transportation and warehousing. The four-week moving average increased by 750 to 237,250. Insured unemployment fell by 30,000 to reach 2.03 million.

3/12/2017: in March of 2017 : February's national unemployment rate decreased to 4.8% (down 0.1%) with additional 235,000 jobs added by the US employers, mostly in Education and Health +62,000, Construction +58,000, while Retail lost -26,000 jobs. The labor participation rate has grown to 63.0% (up 0.1%) but is still 3.2% lower than the pre-recession rate (i.e. 8.1 million jobs permanently disappeared from the economy). The weekly claims for unemployment benefits increased by 20,000, to 243,000. The four-week moving average rose by 2,250, to reach 236,500. Insured unemployment fell by 6,000 to reach 2.06 million.

3/5/2017: in March of 2017 : Federal Reserve's Chair Janet Yellen confirmed that the interest rate would increase in late March. The new number of unemployment benefit claimants decreased by 19,000 to reach 223,000 mainly due to job gains in CA and MI. The four-week moving average fell by 6,250, to reach 234,250. Insured unemployment increased by 3,000 to reach 2.07 million.

2/26/2017: in February of 2017 : February's preliminary national unemployment rate is 4.8%. FRED's Labor Market index is up to 1.3%. The White House is preparing a plan to increase annual economic growth from the current 1.8-1.9% to 3-3.5%. The real unemployment rate is at 8.4%, while the long-term unemployment improved by 244,000 since January of 2016. The number of unemployment claims increased by 6,000 to reach 244,000, mainly due to job losses in MI and NJ in manufacturing and trade. The four-week moving average fell by 4,000, to reach 241,000, the lowest level since July 1973. Insured unemployment decreased by 17,000 to reach 2.06 million.

2/20/2017: in February of 2017 : While the US economy is not in a perfect state, most of the remaining issues are structural in nature and will require changes in the underlying market fundamentals to improve. Federal Reserve System plans to increase rates three times this year. The labor market is deemed to be at full employment, though we still haven't seen any significant hikes in wages. Building permits are up 4.6% since last month. The new number of unemployment claims increased by 5,000, to reach a total of 239,000 mainly due to job losses in CA in agriculture and forestry. The 4-week moving average rose by 500 to 245,250. Insured unemployment decreased by 3,000 to reach 2.08 million.

2/12/2017: in February of 2017 : The current average hourly rate is $26, an increase of +0.1% since January 2016 (or -1.5% when adjusted for inflation). During the same period, the real national GDP grew by an estimated +1.6%. The least of the real wage loss took place in mining and logging, while financial services suffered a 2.6% loss. The new number of unemployment claims decreased by 12,000 to 234,000. The four-week moving average fell by 3,750 to 244,250. Insured unemployment rose by 15,000 to reach 2.08 million.

2/5/2017: in February of 2017 : January's national unemployment rate increased to 4.8% with an additional 227,000 jobs added to the US economy, mostly in Retail, Construction, and Financial Services. Hourly rates improved by 3 cents since December and 2.5% since January 2016. The labor participation rate has grown to 62.9% (up 0.2%) but is still 3.3% lower than the pre-recession rate (i.e. 8.4 million jobs permanently disappeared from the economy). The weekly claims for unemployment benefits decreased by 14,000, to 246,000. The four-week moving average rose by 2,250, to reach 248,000. Insured unemployment fell by 39,000 to reach 2.06 million.

1/29/2017: in January of 2017 : January's preliminary national unemployment rate is 4.7%. President Trump calls for an overhaul of the unemployment rate calculations to more accurately reflect the state of the economy. As a result, the December 2016 unemployment rate of 4.7% may be revised to an estimated 6%. The number of unemployment claims increased by 22,000 to reach 259,000, mainly due to job losses in NY in transportation and warehousing. The four-week moving average fell by 2,000, to reach 245,500, the lowest level since November 1973. Insured unemployment rose by 41,000 to reach 2.10 million.

1/22/2017: in January of 2017 : The labor market is nearing full employment. The housing market is at an 8-year high, though it is still lower than the pre-recession level. Reported by the U.S. Labor Statistics Department, the new number of unemployment claims decreased by 15,000, to reach a total of 234,000 mainly due to added jobs in NY and GA, offset by job losses in CA. The 4-week moving average fell by 10,250 to 246,750. Insured unemployment decreased by 47,000 to reach 2.05 million.

1/15/2017: in January of 2017 : The average hourly rate is $26, an increase of +2.9% since December of 2015. During the same period, the national real GDP grew slower at an estimated +1.7%. FRED reported an unfavorable Labor Market Index of -0.3%. The new number of claims increased by 10,000 to 247,000 due to job losses in NY, GA, and TX mostly in hospitality, IT, and transportation. The four-week moving average declined by 1,750 to 256,000. Insured unemployment fell by 29,000 to reach 2.09 million.

1/8/2017: in January of 2017 : December's national unemployment rate increased slightly to 4.7%. The US employers added 156,000 new jobs with the vast majority in Education and Healthcare. Manufacturing rallied with 17,000 new jobs. Sadly, high-tech jobs moving overseas does not attract as much media attention as the outsourcing of manufacturing jobs, even though they command better wages and their dissipation destroys any hopes for middle-class upward mobility. The labor participation rate crawled up to 62.7% with no signs of improvement since October 2013. The weekly claims for unemployment benefits decreased by 28,000, to 235,000. The four-week moving average dropped by 5,750, to reach 256,750. Insured unemployment increased by 16,000 to reach 2.11 million.

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