The Week: Most Recent U.S. Economy:Unemployed in America recent posts.en-usFri, 04 Jan 2013 09:15:00 -0500http://theweek.com Recent U.S. Economy:Unemployed in America from THE WEEKFri, 04 Jan 2013 09:15:00 -0500December jobs report: 155,000 new jobs, unemployment stays at 7.8 percent<img src="" /></P><p class="p1">The Labor Department reported on Friday morning that the economy added a solid 155,000 jobs in December, and that the unemployment rate remained unchanged at 7.8 percent &mdash; tied for its lowest level in four years. The report is the latest evidence that the labor market &mdash; after years of periodic setbacks &mdash; is now on a steady, if slow, climb out of the deep hole caused by the Great Recession.&nbsp;</p><p class="p1">In further good news, the Labor Department said that the economy created 161,000&nbsp; jobs in November, up from its initial projection of 146,000.</p><p class="p1"><strong>In December, the private sector added...</strong></p> <a href="">More</a>By <a href="/author/ryu-spaeth" ><span class="byline">Ryu Spaeth</span></a>Fri, 04 Jan 2013 09:15:00 -0500The unemployed 23-year-old behind the 'binders full of women' meme<img src="" /></P><p class="p1">In the aftermath of the presidential debate, the internet has been flooded with jokes mocking Mitt Romney's awkward claim that his staff brought him "binders full of women" when he was looking for candidates to appoint to his cabinet as governor of Massachusetts. Photoshopped images of Trapper Keepers have never enjoyed such cultural currency, and other cheeky images feature Bill Clinton, <em>Lord Of The Rings</em>, and Beyonce. Many of them come from a tumblr&nbsp;account that a quick-thinking young&nbsp;graduate, Veronica De Souza, created mere moments after the words escaped Romney's lips. And her sudden...</p> <a href="">More</a>By The Week StaffWed, 17 Oct 2012 17:25:00 -0400Has the jobless rate actually collapsed to 7.3 percent?<img src="" /></P><p>A host of conservative politicians and business leaders, led by former GE CEO Jack Welch, accused President Obama of manipulating the September jobs report to his own benefit, after the Labor Department reported that the unemployment rate had fallen below 8 percent for the first time in nearly four years. The September rate, 7.8 percent, was the lowest since Obama took office in January 2009. Well,&nbsp;those jobs report "truthers" might want to reach for the antacids: Now Gallup says the jobless rate has dropped even lower, hitting 7.3 percent (or 7.7 percent, seasonally adjusted) in mid-October...</p> <a href="">More</a>By The Week StaffWed, 17 Oct 2012 16:25:00 -0400'Jobs report truthers': The conspiracy theorists who claim the unemployment report is bogus<img src="" /></P><p>President Obama &mdash; who has been&nbsp;pummeled with criticism&nbsp;this week for his shockingly listless and mediocre debate performance &mdash; got some good news on Friday: The unemployment rate dropped below 8 percent for the first time in nearly four years. (The September jobless rate of 7.8 percent is the lowest number since Obama took office in January 2009.) But before the news could really set in, former GE CEO Jack Welch took to Twitter to&nbsp;accuse&nbsp;Obama of manipulating the jobs report for his own benefit. And he's not the only one. Below, meet Twitter's "jobs report&nbsp;truthers...</p> <a href="">More</a>By The Week StaffFri, 05 Oct 2012 10:55:00 -0400The unexpectedly positive September jobs report: 4 takeaways<img src="" /></P><p>With all eyes on the economy after this week's presidential debate on domestic policy, the Labor Department reported on Friday that employers added 114,000 jobs in September. That's a tad better than the 111,000 new jobs economists had expected. The report also said the economy created 86,000 more jobs than first estimated in July and August. Together, the additional jobs pushed the unemployment rate down from 8.1 percent in August to 7.8 percent in September &mdash; the lowest figure since President Obama took office in January 2009. Here, a closer look at what the "unexpectedly positive" numbers...</p> <a href="">More</a>By The Week StaffFri, 05 Oct 2012 09:55:00 -0400America's unexpected addition of 386,000 more jobs: 4 takeaways<img src="" /></P><p>The Labor Department added a new wrinkle to the presidential campaign on Thursday, when it reported that the economy actually added 386,000 more jobs than previously thought from April 2011 to March 2012. President Obama's team welcomed the revised figures, saying they proved "we are making progress" toward recovering "from the worst crisis since the Great Depression." GOP presidential nominee Mitt Romney's campaign said the rosier figures don't change anything. "There are 23 million Americans struggling to find work right now," Romney adviser Kevin Madden said, "and the president has nothing more...</p> <a href="">More</a>By The Week StaffFri, 28 Sep 2012 11:01:00 -0400The surprisingly strong July jobs report: 5 takeaways<img src="" /></P><p>Defying expectations, the U.S. economy added 163,000 jobs in July, according to a Labor Department report released Friday. Most analysts had predicted monthly growth of just 100,000 jobs, but surprising growth in the education and health services sectors &mdash; which lost jobs in June, but gained 38,000 jobs in July &mdash; helped tip the balance. Meanwhile, manufacturing added 25,000 posts, and professional and business services added 49,000. Still, the unemployment rate crept up to 8.3 percent. A closer look at what the numbers mean:</p><p><strong>1. The July numbers are the best in months</strong><br />Last month's gains...</p> <a href="">More</a>By The Week StaffFri, 03 Aug 2012 10:55:00 -0400America's jobs crisis: Is reviving the draft the answer?<img src="" /></P><p>Ever since the U.S. ended the military draft at the Vietnam War's conclusion, Americans have debated whether we ought to reinstate it. This week, Thomas Ricks, a Pulitzer Prize winning <em>New York Times</em> military writer, reinvigorated the conversation with an article proposing that all American men <em>and </em>women between 18 and 25 serve for 18 months, either in the military (where they would perform entry-level tasks and save the government money on outsourcing contracts) or in a civilian service program. In both cases, draftees would receive "low pay but excellent post-service benefits." Such a move, Ricks...</p> <a href="">More</a>By The Week StaffThu, 12 Jul 2012 15:14:00 -0400The disappointing June jobs report: 4 takeaways<img src="" /></P><p>Despite a flurry of data suggesting the U.S. might be emerging from a spring hiring slump, the Labor Department reported on Friday that employers added only 80,000 jobs in June. The number was enough to keep the unemployment from rising above 8.2 percent, but it disappointed investors and economists, who had been expecting a bigger boost after a disastrous May in which the economy only added a paltry 69,000 jobs. In June, private businesses created 84,000 jobs, but governments shaved 4,000. What does last month's&nbsp;lukewarm tally mean? Here, four takeaways:<br /><br /><strong>1. In the second quarter, the economy...</strong></p> <a href="">More</a>By The Week StaffFri, 06 Jul 2012 11:25:00 -0400May's disastrous jobs report: 5 takeaways<img src="" /></P><p class="p1">It's been three years since the Great Recession technically ended, and still, unemployed Americans are struggling to find work. On Friday, the Labor Department reported that the economy added a worse-than-expected 69,000 jobs in May, and that the unemployment rate climbed to 8.2 percent. The abysmal report stoked fears that America's uneven economic recovery is faltering once again, after a string of optimistic months in which it appeared to be gaining momentum. Here, five takeaways from the May jobs report:</p><p class="p1"><strong>1. Don't expect to find a silver lining</strong><br />The Labor Department's data yielded little to no...</p> <a href="">More</a>By The Week StaffFri, 01 Jun 2012 10:56:00 -0400April's disappointing jobs report: 6 takeaways<img src="" /></P><p class="p1">The jobless rate in April fell to 8.1 percent, its lowest level since President Obama took office in 2009... but don't expect the White House to start whipping up champagne cocktails. The stubborn economy added a worse-than-expected 115,000 jobs last month, not nearly enough for the labor market to claw its way out of its deep hole. Indeed, many analysts now fear that we're living through a rerun of what happened to the economy in early 2010 and early 2011, when the recovery appeared to be accelerating only to stumble and lurch. Here, six takeaways from the latest jobs report:</p><p class="p1"><strong>1. Labor force participation...</strong></p> <a href="">More</a>By The Week StaffFri, 04 May 2012 11:08:00 -04003 ways the job market is still in trouble<img src="" /></P><p>"America is coming back," President Obama&nbsp;declared&nbsp;on Friday,&nbsp;hours after the government reported that the economy added more than 200,000 jobs in February. You can hardly blame the president for tooting the economy's horn &mdash; his re-election in November largely hinges on rising job numbers. But is the labor market really healing? Some analysts say a closer look at the data reveals some worrisome trends. Here, three ways the job market recovery is not as healthy as it appears:</p><p class="p1"><strong>1. The economy is not adding the right jobs</strong> <br />Job numbers are rising because the economy is adding temporary...</p> <a href="">More</a>By The Week StaffTue, 13 Mar 2012 07:45:00 -0400February's 'terrific' jobs report: 6 takeaways<img src="" /></P><p>It's getting better all the time. The Labor Department announced on Friday that the economy gained an impressive 227,000 jobs in February, the latest in a spate of reports indicating that the economic recovery is "growing stronger." The feds' revised stats for December and January also show that the economy added 61,000 more jobs than previously estimated. (The December number jumped from 203,000 to 223,000, and January leaped from 243,000 to 284,000.) The jobless rate, however, remains unchanged at 8.3 percent, as more unemployed workers returned to the labor force to look for jobs. Here, six...</p> <a href="">More</a>By The Week StaffFri, 09 Mar 2012 10:50:00 -0500Unemployment benefits: Should drug testing be required?<img src="" /></P><p class="p1">In a rare show of bipartisanship, Congress passed a measure extending unemployment benefits through the end of 2012 &mdash; but the two parties made compromises to get the legislation through. Controversially, for instance, the bill allows states to subject certain applicants to drug testing: Namely, those who were laid off for flunking an employer's drug test, and those seeking jobs that require such tests. An earlier version passed by the GOP-controlled House would have allowed states to drug-test <em>all </em>applicants. Should Republicans have stuck to their guns?<strong><br /><br />Yes. Businesses shouldn</strong>'<strong>t have to subsidize...</strong></p> <a href="">More</a>By The Week StaffFri, 17 Feb 2012 17:12:00 -0500The 'unequivocally strong' January jobs report<img src="" /></P><p>Happy new year! The Labor Department announced on Friday that the economy gained an "incredible" 243,000 jobs in the first month of 2012, shocking many analysts who expected modest gains of about 150,000 jobs. The unexpected January hiring spree pushed the unemployment rate down from 8.5 percent to 8.3 percent. Not since the first days of the Obama presidency has the jobless rate been this low. (The unemployment rate was 7.8 percent in January 2009, 8.3 percent in February 2009, and then spent nearly three years bouncing between 8.5 and 10 percent.) The January job gains were broad &mdash; benefiting...</p> <a href="">More</a>By The Week StaffFri, 03 Feb 2012 11:19:00 -0500The 'heartening' December jobs report: 5 takeaways<img src="" /></P><p>Last year went out with a bang. According to the U.S. Labor Department's monthly jobs report, 200,000 new jobs were added to the economy in December, exceeding expectations and suggesting for all but skeptical spoilsports that the economy is indeed recovering. Here, five takeaways from December's "heartening"&nbsp;report:</p><p><strong>1. It's good news for Obama</strong><br />The unemployment rate unexpectedly fell from 8.6 to 8.5 percent,&nbsp;says Jason Lange at <em>Reuters</em>. That proves that "job creation is shifting into higher gear, and may give President Barack Obama the boost he hoped for ahead of his re-election bid this...</p> <a href="">More</a>By The Week StaffFri, 06 Jan 2012 11:52:00 -0500