Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

8/24/2012 (2 years ago)

Catholic Online (www.catholic.org)

European debt crisis and slowdown in Asia remain sticking point in recovery

U.S. citizens filing applications for unemployment benefits climbed to a one-month high last week, proving that there has been little progress made in the labor market. Labor Department figures showed today that claims rose by 4,000 for a second week to reach 372,000 in the period ended August 18. The four-week moving average increased to 368,000.

Unemployment has been above 8 percent since February 2009, which is the longest stretch in post-World War II America.

Unemployment has been above 8 percent since February 2009, which is the longest stretch in post-World War II America.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

8/24/2012 (2 years ago)

Published in Business & Economics

Keywords: Jobless, economic report, World war II era, unemployment


LOS ANGELES, CA (Catholic Online) - Companies may be keeping payrolls tight after slashing head counts during the recession. The European debt crisis and the slowdown in Asia remain troubling to investor and business confidence.

"It's still very sluggish, and growth itself is implying we should not see any acceleration in hiring at this point," Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York says.

Estimates in the Bloomberg survey ranged from 355,000 to 373,000. The Labor Department revised the previous week's figure up to 368,000 from an initially reported 366,000.

The four-week moving average was down from 376,000 in the July survey week, which was pushed up by the timing of the annual auto factory shutdowns.

Earlier this month, employers added 163,000 workers, which was the biggest gain since February. The figures also showed the jobless rate climbed to a five-month high of 8.3 percent.

Unemployment has been above 8 percent since February 2009, which is the longest stretch in post-World War II America. The most recent report showed the number of people continuing to receive jobless benefits climbed by 4,000 in the week ended Aug. 11 to 3.32 million.

Those who have used up their traditional unemployment benefits and are now collecting emergency and extended payments decreased by about 48,300 to 2.33 million in the week ended Aug. 4.

The unemployment rate among people eligible for benefits held at 2.6 percent.

Thirty states and territories reported a decline in claims, while 22 reported an increase.

.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2015
Universal:
That political responsibility may be lived at all levels as a high form of charity.
Evangelization: That, amid social inequalities, Latin American Christians may bear witness to love for the poor and contribute to a more fraternal society.



Comments


More Business & Economics

U.S. hit with price hikes: Apartment rent, restaurant meals and haircut prices are up Watch

Image of Starbucks has increased the price of their coffee from around 5 cents to 20 cents per cup.

By Linky C. (NEWS CONSORTIUM)

Prices of restaurant meals, gym memberships, haircuts and even a cup of coffee are rising in America, as well as apartment rent. American consumers are beginning to feel the financial burden, as the inflation rates in the U.S. start to kick in. MUNTINLUPA, PHILIPPINES ... continue reading


Big name companies demand Planned Parenthood to remove names off list of corporate donors Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Representatives from Coca-Cola, Ford Motor Co. and Xerox openly state they've requested Planned Parenthood to take their company's names out as corporate donors to the controversial organization. MUNTINLUPA, PHILIPPINES (Catholic Online) - Planned Parenthood is now ... continue reading


Gun sales in the United States dramatically boost after massacre shootings Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

FBI's latest background check data shows the gun industry spiked in sales at about 11 percent last June. There are about 1.53 million background checks done, making it the busiest June ever since the agency started keeping track in 1999, according to CNN. The massive ... continue reading


Microsoft slammed for thousands of layoffs while demanding increase in immigration Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

About 7,800 Microsoft employees are in line to be fired, according to a company announcement last Wednesday. Most workers are from the seemingly failing mobile phone business, while Microsfot is said to fire a majority of Nokia's remaining employees ever since ... continue reading


Subway and Jared break up after controversial police raid at spokesman's home Watch

Image of Jared Fogle is known for his massive weight loss on a

By Nikky Andres (NEWS CONSORTIUM)

Subway spokesman, Jared Fogle's house was raided by FBI agents and Indiana State Police, two months after the former executive director of Fogle's foundation was arrested with charges of child pornography. MUNTINLUPA, PHILIPPINES (Catholic Online) - In their statement, ... continue reading


'Enough with all the rules' firework industry calls out to Obama Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

This year, more states have allowed people to buy pyrotechnic materials, such as sparklers and Roman Candles. In fact, this year has been wonderful for fireworks manufacturers, since the projected 2015 sales of celebratory explosives are estimated to top $1 billion. ... continue reading


Whole Foods accused of greatly overcharging customers Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Whole Foods, the American foods supermarket chain that specializes in organic goods, has been accused of massive overcharging. The New York City Department of Consumer Affairs explained they have discovered "systematic overcharging for pre-packaged foods" at the city's ... continue reading


Strange and powerful 'boat swallowing' vortex appears in Lake Texoma Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

A strange, giant vortex, estimated to be around 8-feet in diameter, has appeared in Lake Texoma. This occurrence is surprising and perhaps threatening. However, there is an explanation. MUNTUNLUPA, PHILIPPINES (Catholic Online) - Lake Texoma is known as one of the ... continue reading


Is it time to stash money under mattress? 'It's time to hold physical cash,' fund manager says Watch

Image of Ian Spreadbury declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10.

By Catholic Online (NEWS CONSORTIUM)

Is it time to cash your paycheck and then stick it into a hatbox for a rainy day? According to British fund manager Ian Spreadbury, who invests more than £4 billion of investors' money is gravely concerned that a "systemic event" could rock markets. The upset ... continue reading


In spite of strong showing, Ron Paul predicts Apocalypse on Wall Street Watch

Image of Ron Paul has predicted economic doomsday previously. As stocks continue to make new highs, he remains just as convicted as ever that there

By Catholic Online (NEWS CONSORTIUM)

Things seem to be on an even keel right now but according to former Representative Ron Paul, the Federal Reserve's easy money policies have left stocks and bonds are on the verge of a massive collapse. LOS ANGELES, CA (Catholic Online) - "I am utterly amazed at ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Exodus 40:16-21, 34-38
16 Moses did this; he did exactly as Yahweh had ... Read More

Psalm, Psalms 84:3, 4, 5-6, 8, 11
3 Even the sparrow has found a home, the swallow a ... Read More

Gospel, Matthew 13:47-53
47 'Again, the kingdom of Heaven is like a dragnet ... Read More

Saint of the Day

Saint of the Day for July 30th, 2015 Image

St. Peter Chrysologus
July 30: St. Peter Chrysologus, Bishop and Doctor of the Church ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter