AOL Jobs

Jobless Claims Improve Unexpectedly

Reuters — 2013-05-23T08:18:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 340,000, the Labor Department said on Thursday, pushing back below the 350,000 mark that economists normally associate with a firming job market.

HSBC Plans 14,000 More Job Cuts

Reuters — 2013-05-16T09:08:00+00:00

By Lawrence White and Steve Slater

HONG KONG/LONDON -- HSBC will redouble its cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion already achieved, but sluggish growth outside Asia, particularly in Europe, means its target to get costs below 52 percent of revenue has been eased.

U.S. Jobless Claims Jump, A Worrisome Sign For Economy

Reuters — 2013-05-16T08:46:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits jumped last week at the fastest pace in six months, a worrisome sign for the economy which has been hit by government austerity. Initial claims for state unemployment benefits jumped by 32,000 to a seasonally adjusted 360,000, the Labor Department said on Thursday. That was the biggest jump since November and confounded analysts' expectations for a more modest increase.

Claims for the prior week were revised to show 5,000 more applications received than previously reported.

Jobless Claims Fall to Lowest Level in Nearly 5½ Years

Reuters — 2013-05-09T08:35:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits dropped to its lowest level in nearly 5½ years last week, signaling labor market resilience in the face of fiscal austerity.

Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, the Labor Department said Thursday.

Jobless Claims Fall Sharply to 5-Year Low

Reuters — 2013-05-02T08:35:00+00:00

Getty Images

By Jason Lange

WASHINGTON -- The number of Americans filing new claims for jobless benefits fell sharply last week to its lowest level since the early days of the 2007-09 recession, suggesting the job market is still healing despite weakness in the broader economy.

Initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 324,000 the Labor Department said on Thursday. The level of claims was the lowest since January 2008, a month after the beginning of a deep recession. A Labor Department analyst said there was nothing unusual in the data and no states had estimated their claims.

Employers Add Far Fewer Jobs In April Than Forecast

Reuters — 2013-05-01T09:08:00+00:00

Daniel Acker/Bloomberg via Getty Images

By Leah Schnurr

U.S. private-sector hiring slowed again in April as companies added the fewest employees in seven months, the latest sign that the economy is encountering a soft patch, a report by a payrolls processor showed on Wednesday.

Businesses added 119,000 employees to their payrolls last month, according to the ADP National Employment Report, falling short of economist expectations for a gain of 150,000 jobs. It was the smallest gain since September 2012.

U.S. Jobless Claims Fall, Labor Market Recovery Advances

Reuters — 2013-04-25T08:32:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell last week, offering reassurance that the bottom is not falling out of the labor market despite signs of slower growth. Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 339,000, the Labor Department said on Thursday. The prior week's number was revised to show 3,000 more applications than previously reported.

Sequester Cuts Devastating Families With Two Government Jobs

Reuters — 2013-04-22T13:02:00+00:00

By Elizabeth Dilts

NEW YORK -- The U.S. government's effort at cutting spending across the board is hurting a population once considered among the most financially stable -- dual income families where both partners are government employees.

Starting on Monday, employees at agencies such as the Federal Aviation Administration and the Office of Management and Budget will be required to take unpaid days off -- a consequence of the U.S. government's sequestration budget cuts. These forced furloughs come on top of the first round of cuts that began on March 1, and they will reduce some workers pay by as much as 12 percent a month.

U.S. Jobless Claims Rise Marginally Last Week

Reuters — 2013-04-18T08:32:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits rose slightly last week, which could further allay fears of a major setback in the labor market recovery.

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 352,000 the Labor Department said on Thursday. The prior week's number was revised to show 2,000 more applications than previously reported.

U.S. Jobless Claims Fall Sharply, Raising Hope Of Stable Economy

Reuters — 2013-04-11T08:31:00+00:00

Jin Lee/Bloomberg

WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell more than expected last week, which could ease fears of a marked deterioration in labor market conditions after a surprise stumble in job growth in March.

Initial claims for state unemployment benefits dropped 42,000 to a seasonally adjusted 346,000, the Labor Department said on Thursday, unwinding the jump in the prior week related to difficulties adjusting the data for seasonal variations. That was the largest weekly drop in jobless claims since mid-November.

March Hiring Slowed, Raising Fears About The Economy

Reuters — 2013-04-05T08:34:00+00:00

Jin Lee/Bloomberg

By Jason Lange

WASHINGTON -- American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy.

The economy added just 88,000 jobs last month and the jobless rate ticked a tenth of a point lower to 7.6 percent largely due to people dropping out of the work force, Labor Department data showed on Friday.

Planned Layoffs Jump

Reuters — 2013-04-04T09:06:00+00:00

The number of planned layoffs at U.S. firms fell in March but downsizing by retail companies still helped the first quarter rack up the largest amount of cuts in over a year, a report showed on Thursday.

Employers announced 49,255 planned job cuts last month, down 11% from 55,356 in February, according to the report from consultants Challenger, Gray & Christmas, Inc.

U.S. Jobless Claims At Four-Month High, Cast Shadow Over Labor Market

Reuters — 2013-04-04T08:32:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits rose to its highest level in four months last week, suggesting the labor market recovery lost some steam in March.

Initial claims for state unemployment benefits increased 28,000 to a seasonally adjusted 385,000, the highest level since November, the Labor Department said on Thursday.

ADP: U.S. Private Sector Hiring Slowed In March

Reuters — 2013-04-03T08:36:00+00:00

NEW YORK -- U.S. private employers added 158,000 jobs in March, the smallest gain in five months and falling short of analyst expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 200,000 jobs. The report came in below the lowest estimates in a poll by Reuters and was the smallest gain since October.

U.S. Jobless Claims Rise, Labor Market Still Healing

Reuters — 2013-03-28T08:32:00+00:00

WASHINGTON -- The number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest the labor market recovery was taking a step back.

Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 357,000, the Labor Department said on Thursday. Still, they remained in the middle of their range for this year.

U.S. Jobless Claims Point To Improving Labor Market

Reuters — 2013-03-21T08:31:00+00:00

WASHINGTON -- The number of Americans filing new claims for jobless benefits edged higher last week, but a trend reading dropped to its lowest in five years and pointed to ongoing healing in the labor market.

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 336,000, the Labor Department said on Thursday.

UBS CEO Paid $9 Million While Laying Off 10,000

Reuters — 2013-03-15T08:48:00+00:00

UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff. Executive pay in Switzerland remains a heated issue five years after the near collapse of UBS, blamed by many on a big bonus culture driving bankers to take excessive risks.

Why Yahoo Takes Forever To Hire

Reuters — 2013-03-12T09:04:00+00:00

Yahoo Inc. Chief Executive Marissa Mayer was asked at an all-staff meeting several weeks ago whether her rigorous hiring practices had caused the company to miss out on top engineering talent in Silicon Valley's hyper-competitive job market.

Mayer dismissed the complaint that she had refused good candidates because they did not have degrees from prestigious universities, and instead she challenged her staff to get better at recruiting, according to an employee who was at the meeting.

Report: Saudi Arabia Faces Lack Of Swordsmen

Reuters — 2013-03-12T06:00:00+00:00

Saudi Arabia has authorized regional governors to approve executions by firing squad as an alternative to public beheading, the customary method of capital punishment in the Gulf Arab kingdom, the Arab News reported on Monday.

The English-language daily gave no explanation. But another newspaper, Al Youm, reporting the measure on Sunday, said the reason for the change was a shortage in the number of swordsmen.

Jobless Claims Fall Unexpectedly, As Labor Market Improves

Reuters — 2013-03-07T08:44:00+00:00

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting a pickup in the labor market recovery. Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 340,000, declining for a second straight week, the Labor Department said on Thursday.

The prior week's claims figure was revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to rise to 355,000. The four-week moving average for new claims, a better measure of labor market trends, also fell 7,000 to 348,750 -- the lowest level since March 2008 -- pointing to some firming in underlying labor market conditions.