April 12, 2014 |
Initial claims for unemployment benefits fell to their lowest point since the week of May 12, 2007, the U.S. Labor Department reported Thursday, and because this statistic can serve as a proxy for the economy, that sounds like good news. Such good news, in fact, that advocates for the unemployed worry that it will hurt their chances on Capitol Hill to push for an extension of extra federally funded jobless benefits. For the week ending April 5, 300,000 initial claims for unemployment benefits were filed, 32,000 fewer claims than the previous week.
August 24, 2013 |
For the first time since the start of the recession in late 2007, the number of people filing initial claims for unemployment insurance in the month fell to 330,500 a week on average, the U.S. Labor Department reported Thursday. The news buoyed Wall Street, but the national story isn't what's happening in the Philadelphia region. "Philadelphia's economy has struggled this summer," said Ryan Sweet, an economist with Moody's Analytics in West Chester. The last time the national number was so low was in November 2007 - the month before the official start of what economists have described as the worst recession since the Great Depression.
May 3, 2013 |
NEW YORK - The stock market is all about jobs this week. Stocks rose Thursday after unemployment claims fell to a five-year low. A day earlier, it was just the opposite - the market slumped after companies added just 119,000 jobs in April, the fewest in seven months, according to payroll processor ADP. And stocks could swing again Friday when the government's closely watched monthly employment report is released. "Everyone is looking to the April jobs numbers," said Tyler Vernon, chief investment officer at Biltmore Capital.
January 19, 2013 |
NEW YORK - The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy. The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007. The Dow Jones industrial average also rose, climbing to a five-year high during the day, before falling back to finish 84.79 points higher at 13,596.02. The Nasdaq composite climbed 18.46 points to 3,136.
December 21, 2012 |
NEW YORK - The stock market ended higher Thursday after flipping between small gains and losses throughout the morning. Uncertainty about the fiscal cliff was top of the mind for many traders. The Republican-controlled House pushed ahead with a bill aimed at averting the fiscal cliff, but President Obama has threatened to veto it and Democratic leaders in the Senate vowed to let it die. Many traders now expect that the Republicans and Democrats will not reach an agreement before Christmas.
October 22, 2012
Frank Wilson is a retired Inquirer books editor who blogs at "Books, Inq. - the Epilogue" There is a distinct possibility that we are nearing the end of an age, an age most people are probably not even aware they have been living in: The Age of Unexpectedly. Never heard of it, right? Ah, but therein lies its beauty, the surpassing subtlety of it, as you shall see. It is, of course, as with all historical periods, difficult to pinpoint exactly when it began. Perhaps the earliest sign was a Reuters story dated May 19, 2009, which reported that "new U.S. housing starts and permits unexpectedly fell to record lows in April . . . denting hopes that stability in the housing market was imminent.
October 13, 2012 |
WASHINGTON - Declining applications for unemployment benefits have typically pointed to stronger hiring. Not so much anymore. Since the U.S. recession officially ended in June 2009, fewer layoffs have meant fewer people seeking unemployment aid. On Thursday, for example, the government said first-time applications for benefits hit a 41/2-year low. Yet job growth remains sluggish. That was evident last week in the government's jobs report for September. A survey of employers showed that they added a modest 114,000 jobs last month.
September 7, 2012 |
Claims for unemployment benefits fell to the lowest level in a month and American companies added more workers than forecast, easing concern that the labor market may be stagnating. Jobless claims decreased by 12,000 to 365,000 in the week ended Sept. 1, the Labor Department reported Thursday in Washington. Private employers expanded payrolls by 201,000 in August, according to figures from ADP Employer Services, exceeding the 140,000 median gain forecast by economists in a Bloomberg survey.
October 15, 2010
Pennsylvania was No. 1 and New Jersey No. 2 nationwide in increase in number of new claims for jobless benefits in the latest week. Pennsylvania's initial claims 2010 high: 61,181 in the week ended Jan. 9. 2010 low: 19,460 in the week ended Sept. 11. Week ended Oct. 2: 22,464 new claims, up 2,869 from the previous week. New Jersey's initial claims 2010 high: 25,385 in the week ended July 3. 2010 low: 8,886 in the week ended Sept.