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Tag Archives: Labor Department

Consumer Sentiment Backs Off of Nine-Month High

In a preliminary report issued last week, Thomson Reuters and the University of Michigan reported a decline in their joint Index of Consumer Sentiment to a reading of 81.8 from April's final reading of 84.1. A large portion of the overall decline came from a decrease in the survey's Current Conditions Index, which may have suffered from concern over a slowing housing market.

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Employers Add 175K Jobs in February; Unemployment at 6.7%

According to the Labor Department, the U.S. economy added 175,000 jobs in February, beating expectations after two weak months but still failing to impress. While more promising than December and January—which showed upwardly revised payroll growth of 84,000 and 129,000, respectively—February’s numbers still fell well short of 2013’s average monthly growth of 194,000.

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Initial Unemployment Claims Continue to Drop

Unemployment

Continuing the drop in first-time claims for unemployment insurance, initial filings fell 5,000 for the week ending September 21 to 305,000, the Labor Department reported Thursday. Economists had expected the number of claims to jump up to 330,000 from the 309,000 originally reported for the week ending September 14. The number of filings for that week was revised up to 310,000.

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Initial Jobless Claims Up Less Than Expected

Unemployment

Following a sharp drop in first-time claims for unemployment insurance a week earlier, initial filings rose 15,000 for the week ending September 14 to 309,000, the Labor Department reported Thursday. Economists had expected the number of claims to jump up 49,000 to 341,000, from the 292,000 originally reported for the week ending September 7. The number of filings for that week was revised up to 294,000.

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Initial Jobless Claims At 7 1/2-Year Low

Unemployment

First-time claims for unemployment insurance for the week ending September 7 plunged 31,000 to 292,000, the lowest level since March 2006, the Labor Department reported Thursday. Economists expected the number of claims to edge up to 330,000 from the 323,000 originally reported for the week ending August 31. The number of filings for that week was unchanged.

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Commentary: Truth… and Consequences

Friday's report on the August employment situation at the same time confounded analysts twice with a less than robust 169,000 month-month increase in payrolls and a staggering 58,000 reduction in the initial report on payrolls for July. While it may not be easy to reconcile the numbers in the employment situation report with themselves, it is even more difficult to reconcile them with other economic indicators.

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