Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

9/21/2012 (3 years ago)

Catholic Online (www.catholic.org)

Figures causes concern that labor market maybe slackening

A previous median forecast of 49 economists surveyed by Bloomberg projected 375,000 Americans filing for unemployment last week. However, it was later learned that 382,000 Americans had filed for jobless benefits, a margin of an additional 7,000 people who suddenly found themselves out of work. This figure has caused concern that the domestic job market may in fact be slackening.

States and territories that reported an increase in claims as a result of Tropical Storm Isaac two weeks ago, including Louisiana and Puerto Rico, didn't indicate the weather had any influence last week. There is also no indication that the teachers strike in Illinois had any influence.

States and territories that reported an increase in claims as a result of Tropical Storm Isaac two weeks ago, including Louisiana and Puerto Rico, didn't indicate the weather had any influence last week. There is also no indication that the teachers strike in Illinois had any influence.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

9/21/2012 (3 years ago)

Published in Business & Economics

Keywords: Jobless, unemployment insurance, Hurricane Isaac, Chicago teacher's strike


LOS ANGELES, CA (Catholic Online) - Tax increases due to take place in the near future coupled with government spending cuts slated to take effect in 2013 -- should lawmakers fail to act, may block any uptick in hiring following last month's smaller-than-projected gain in payrolls.

The Federal Reserve began a third round of asset purchases last week in a bid to reduce joblessness that has held above eight percent for more than three years.

"The problems are more on the hiring side than the layoffs side," Ryan Sweet, a senior economist at Moody's Analytics Inc. says. Sweet has projected a rise to 385,000 claims. "If they panic and start cutting workers, which would raise an immediate red flag because layoffs would be a recipe for another recession."

Stock-index futures held earlier losses after the report. The contract on the Standard & Poor's 500 Index maturing in December fell 0.4 percent to 1,446.8 in New York. Economic data from China to Japan and Europe increased concern a global slowdown is growing even direr.

Bloomberg estimates range from 360,000 to 390,000. The Labor Department revised the previous week's figure to 385,000 from an initially reported 382,000.

However, a Labor Department spokesman said there was nothing unusual in the state data last week, noting that states and territories that reported an increase in claims as a result of Tropical Storm Isaac two weeks ago, including Louisiana and Puerto Rico, didn't indicate the weather had any influence last week.

There is also no indication that the teachers strike in Illinois had any influence.

The four-week moving average, a less volatile measure than the weekly figures, climbed to 377,750 last week from 375,750.

Today's report showed the number of people continuing to receive jobless benefits dropped by 332,000 in the week ended Sept. 8 to 3.27 million.

It must be noted that the continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

.

---


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


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


IRS issues dire warning before Panama Papers crackdown begins Watch

Image of The Panama Papers detail the tax evasion schemes of thousands of wealthy people around the world.

By Marshall Connolly (CALIFORNIA NETWORK)

The IRS has issued a warning to the rich who have been hiding money offshore - come clean now, before we catch you ourselves. The warning follows the leak of over 11 million pages of documents that detail the private, often hidden financial moves of wealthy people ... continue reading


Obama's Saudi masters order him not to sign 9/11 bill Watch

Image of It's not about the victims, it's about the Saudis.

By David Drudge (CALIFORNIA NETWORK)

Saudi Arabia is about to escalate their economic war with the United States should Congress pass a law that will allow victims of the 9/11  terrorist attacks to sue foreign states. The Obama administration opposes the bill and is lobbying against it. LOS ANGELES, ... continue reading


You won't believe how California's rich spend their money! Watch

Image of Top 1 percent pays nearly half of all California taxes (istockphoto).

By Kenya Sinclair (CALIFORNIA NETWORK)

When you think of California, images of sandy beaches, sun-kissed skin and Hollywood stars flash through your mind - and you're not wrong! California's rich enjoy all the sunny state has to offer - but at what cost? LOS ANGELES, CA (Catholic Online) - According to ... continue reading


Tesla KILLS American car industry in just 3 days. GOOD! Watch

Image of The Tesla Model 3 will sell for an average price of $42,000. Subsequent competition and models will reduce future prices even further.

By Marshall Connolly (CALIFORNIA NETWORK)

Tesla has blown away all predictions, selling over 276,000 pre-orders of their affordable Model 3 electric car, within 72 hours of going live. The massive public interest reveals a major shift in public preferences and should send shockwaves through the auto industry. ... continue reading


You won't believe what JUST happened to Walmart! Watch

Image of What does Walmart's revenue drop mean (WalmartDid).

By Kenya Sinclair (CALIFORNIA NETWORK)

The discount giant has received its first dip in revenue since its inception in 1996. Can the drop signify the beginning of the end? LOS ANGELES, CA (Catholic Online) - The digital age has marked a permanent shift in the way humanity perceives the world.One smartphone ... continue reading


Why Democratic Socialism is coming to America, whether you like it or not, and what you can do about it (but won't) Watch

Image of Presidential hopeful Bernie Sanders is a self-described democratic socialist. His movement is popular with millennials who are coming of age.

By Marshall Connolly (CALIFORNIA NETWORK)

America is in more trouble than people realize and here's why. The middle class is becoming poor, and as the ranks of the poor grow, our national politics will change. LOS ANGELES, CA (California Network) - The United States is changing and many people are having a ... continue reading


You'll never believe what the U.S. government is doing with $917 billion Watch

Image of How much do YOU owe (Shutterstock)?

By Kenya Sinclair (CALIFORNIA NETWORK)

How often do you swipe your credit card without considering your credit limit? When you don't have funds in your checking account, do you turn to credit cards to cover groceries, outings or bills? Have you considered what that credit card debt can do on a larger scale? ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

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

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • St. Hilary of Arles: Saint of the Day for Thursday, May 05, 2016
  • Scientists play God in controversial move to revive the dead
  • Too little too late: $75.5 million anti-Trump ads not enough
  • St. Mary Magdalene HD Video
  • Top 10 mothers from the Bible
  • Fatima Prayer HD Video
  • Daily Readings for Thursday, May 05, 2016

Daily Readings

Reading 1, Acts 17:15, 22--18:1
15 Paul's escort took him as far as Athens, and went back with ... Read More

Psalm, Psalms 148:1-2, 11-12, 13, 14
1 Alleluia! Praise Yahweh from the heavens, praise him in the ... Read More

Gospel, John 16:12-15
12 I still have many things to say to you but they would be too much for ... Read More

Saint of the Day

Saint of the Day for May 4th, 2016 Image

St. Florian
May 4: The St. Florian commemorated in the Roman ... Read More