Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

12/9/2012 (2 years ago)

Catholic Online (

Unemployment drops to four-year low - as many abandon job search

According to official data published by the Bureau of Labor Statistics, 73 percent of the new civilian jobs created in the United States over the last five months are in government. A total of 142,415,000 people were employed in the U.S during the month of June, according to the BLS. This figure included 19,938,000 who were employed by federal, state and local governments.

The number of people with government jobs increased by 621,000 to 20,559,000, the same five-month period since June.

The number of people with government jobs increased by 621,000 to 20,559,000, the same five-month period since June.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

12/9/2012 (2 years ago)

Published in Business & Economics

Keywords: Hurricane Sandy, employment, government jobs, November

LOS ANGELES, CA (Catholic Online) - According to recently released data from BLS, the total number of people employed had climbed to 143,262,000 last month, an overall increase of 847,000 in the six months since June.

The number of people with government jobs increased by 621,000 to 20,559,000, the same five-month period since June. These 621,000 new government jobs created in the last five months equal 73.3 percent of the 847,000 new jobs created overall.

Surprisingly, the devastation wrought by Hurricane Sandy did not make a dent in employment as was feared. Overall, U.S. employment grew faster than expected in November as the hit from storm Sandy on payrolls was less forceful than many feared.
The jobless rate fell to a near four-year low, regrettably because so many Americans had abandoned their job search.

Nonfarm employment increased by 146,000 jobs last month, the Labor Department said on Friday, defying expectations of a sharp pull back related to storm Sandy.

U.S. financial markets appeared to put more faith in the payroll growth figures, with stock index futures turning positive and prices for U.S. government debt falling.

"The labor market is not getting worse, but is also not getting much better as it is unchanged relative to the recent trend," Jacob Oubina, a senior U.S. economist at RBC Capital Markets in New York says.

The 0.2 percentage point drop in the unemployment rate to 7.7 percent -- the lowest since December 2008 -- represented a drop in both the labor force and employment as measured by a survey of households. Economists generally rely more heavily on the payrolls reading from the separate and much larger survey of employers.


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

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

Construction of high-speed rail between L.A., Las Vegas approved by U.S., China Watch

Image of Signed before Chinese President Xi Jinping's state visit to the U.S., the project is a milestone in China's efforts to market its high-speed rail technology in advanced economies.

By Catholic Online (NEWS CONSORTIUM)

A joint venture to build a high-speed railway linking Las Vegas and Los Angeles has been agreed upon. The project will be the first Chinese-made bullet-train project in the U.S. LOS ANGELES, CA (Catholic Online) - XpressWest Enterprises LLC, along with a China ... continue reading

PENDING FED DECISION: U.S. may be due for the first rate hike in 10 years Watch

Image of A relative

By Catholic Online (NEWS CONSORTIUM)

The Federal Reserve may have to make a very hard decision shortly. "If the Open Market Committee takes the plunge, it will be the first US rate hike in nearly 10 years," Telegraph columnist Jeremy Warner says. LOS ANGELES, CA (Catholic Online) - It will be the ... continue reading

Bear market looms, Yale University market scholar warns Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

There is widespread concern that U.S. stocks are overvalued, which will lead to a ferocious bear market unseen since the "Dot-com" bubble burst in 2000. According to research by Yale University market scholar and Nobel economics laureate Robert Shiller, while ... continue reading

Job participation rate in U.S. at 38-year low Watch

Image of According to Bureau of Labor Statistics, the nation's civilian non-institutional population - which means that all people 16 years of age or older who were not in the military or an institution -- reached 251,096,000.

By Catholic Online (NEWS CONSORTIUM)

Americans not participating in the labor force jumped by a whopping 261,000 more in August than there was in July. The participation rate in U.S. labor remained at 62.6 percent, a 38-year low, for a third straight month in August. These are "cheerful" ... continue reading

Islamic State attempts to replace the U.S. dollar with gold coins Watch

Image of A five denar piece featuring a picture of seven wheat stalks, representing the

By Kenya Sinclair (NEWS CONSORTIUM)

The Islamic State has announced it will be producing gold currency with the goal of weakening the dollar. LOS ANGELES, CA (Catholic Online) - A video posted Saturday, August 29th by the Islamic State warns that replacing the dollar will be "the second blow to America's ... continue reading

Art collectors seek liquidity as market plummets Watch

Image of Picasso piece auctioned for a record $179.4 million.


Inquiries about art loans reportedly increased after global equities plunged. The unfortunate event led many to view their collections as assets and investment to cash-in.  MUNTINLUPA, PHILIPPINES (Catholic Online) - Bloomberg Business reports many collectors and ... continue reading

All Business & Economics News


Newsletter Sign Up icon

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

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Romans 1:16-25
16 For I see no reason to be ashamed of the gospel; ... Read More

Psalm, Psalms 19:2-3, 4-5
2 day discourses of it to day, night to night hands ... Read More

Gospel, Luke 11:37-41
37 He had just finished speaking when a Pharisee ... Read More

Saint of the Day

Saint of the Day for October 13th, 2015 Image

St. Edward the Confessor
October 13: Edward the Confessor was the son of King Ethelred III and his ... Read More