Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

9/21/2012 (2 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 (2 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'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for September 2014
Mentally disabled:
That the mentally disabled may receive the love and help they need for a dignified life.
Service to the poor: That Christians, inspired by the Word of God, may serve the poor and suffering.



Comments


More Business & Economics

400 wealthiest Americans now worth cumulative $2.3 TRILLION Watch

Image of Facebook founder Mark Zuckerberg has finally cracked America's most wealthy top ten at tenth place.

By Catholic Online (NEWS CONSORTIUM)

The rich, indeed get richer -- America's wealthiest are worth more than ever before. The United States' top 400 billionaires are now worth a dazzling $2.3 trillion, according to the latest edition of the Forbes 400. LOS ANGELES, CA (Catholic Online) - It comes ... continue reading


Record debt coupled with slow growth point to economic crisis, Geneva Report says Watch

Image of The Geneva Report says the rapid rise of public sector debt in rich countries and private debt in emerging markets, especially China, may lead to0 fresh economic crisis.

By Catholic Online (NEWS CONSORTIUM)

Record debt and slowing economic growth suggest the global economy could be heading for another crisis, the 16th annual Geneva Report warns. Commissioned by the International Center for Monetary and Banking Studies, the report predicts interest rates across the ... continue reading


Walmart to enter banking world with low-cost checking accounts Watch

Image of Walmart has been eying financial services for some time now.

By Catholic Online (NEWS CONSORTIUM)

Walmart is making its biggest venture into the banking world after several failed attempts in the past. The nation's largest retailer is joining Green Dot, already known for its prepaid payment cards, to supply checking accounts to nearly everyone over 18 years ... continue reading


The Chinese are coming! E-commerce giant Alibaba cleans house with its initial public offering Watch

Image of Chinese e-commerce giant Alibaba has raised more than $21 billion with its IPO, with stocks priced at $68 per share, signaling a strong demand for the tech-giant.

By Catholic Online (NEWS CONSORTIUM)

The Chinese e-commerce giant Alibaba has made the largest U.S.-listed initial public offering (IPO) of all time, with stocks priced at $68 per share, signaling a strong demand. LOS ANGELES, CA (Catholic Online) - Only large investors, like hedge funds, can ... continue reading


Bottom of the Barrel - Thanks to business tax, the U.S. is Number 32 in the world Watch

Image of A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high

By Catholic Online (NEWS CONSORTIUM)

A new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. So says the Wall Street Journal, the nation's leading journal on business. The White House and Sen. Charles Schumer (D., N.Y.) will attempt ... continue reading


Unemployment rate for black Americans at 11.4 percent, more than double the rate for whites Watch

Image of There remains a wide disparity in employment in the United States, in spite of efforts to close this broadening gap.

By Catholic Online - (NEWS CONSORTIUM)

There remains a wide disparity in employment in the United States, in spite of efforts to close this broadening gap. Figures show that while unemployment nationwide is 6.1 percent, the unemployment rate for black Americans at 11.4 percent. LOS ANGELES, CA ... continue reading


A record 92,269,000 Americans jobless for month of August Watch

Image of So - there you have it: Things are STILL tough all over.

By Catholic Online - (NEWS CONSORTIUM)

It never went away, come rain or come shine form the past hot summer months . Many Americans remain idle and without work. According to the Bureau of Labor Statistics, a record 92,269,000 Americans 16 years of age and older didn't participate in the labor force ... continue reading


We owe HOW MUCH? New report reveals U.S. government owes $6 trillion to foreign entities Watch

Image of Foreign interests, including nations and businesses, own more than $6 trillion of U.S. government debt.

By Catholic Online (NEWS CONSORTIUM)

Foreign interests now own more than $6 trillion in U.S. government debt, a recent Treasury Department report on major foreign debt holders revealed. LOS ANGELES, CA (Catholic Online) - As of the end of June 2014, foreign-held debt totaled $6,013,200,000,000 in U.S. ... continue reading


Are you ready? Economic analysts predict bear market by end of 2014 Watch

Image of Economic analysts are predicting a significant drop in the market, which may be as high as 60%.

By Catholic Online (NEWS CONSORTIUM)

Two financial experts announced on August 27 that markets may face a fall of up to 60% by the end of 2014. LOS ANGELES, CA (Catholic Online) - David Tice, the president of Tice Capital and founder of the Prudent Bear Fund, reported that a jolt to international ... continue reading


Oh really Obama? President claims economic success while population dependent on food stamps hit all time high Watch

Image of The number of Americans on food stamps has not decreased since 2011, despite claims from President Obama that the U.S. economy has recovered under his policies.

By Catholic Online (NEWS CONSORTIUM)

Democrats are facing a tough midterm election, and with less than three months to go the party is scrambling to prop up the image of the U.S. economy in the minds of disgruntled voters. LOS ANGELES, CA (Catholic Online) - Yet one of the quickest shorthand ... 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, Job 9:1-12, 14-16
1 Job spoke next. He said:2 Indeed, I know ... Read More

Psalm, Psalms 88:10-11, 12-13, 14-15
10 Do you work wonders for the dead, can shadows rise ... Read More

Gospel, Luke 9:57-62
57 As they travelled along they met a man on the road ... Read More

Saint of the Day

Saint of the Day for October 1st, 2014 Image

St. Therese of Lisieux
October 1: Generations of Catholics have admired this young saint, called ... 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