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Labor Department

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Jun 05

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Unemployment Rate Hits 26-Year High, but Job Cuts Slow

Although the rate of U.S. job losses slowed in May, unemployment rose to 9.4 percent, the highest rate in 26 years. Economist Lisa Lynch explains the new job numbers.

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Jun 05

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Job Losses Slow, but Unemployment Hits 9.4%

By Admin, PBS News Hour

Unemployment jumped to a 25-year high in May, according to new Labor Department numbers, but the rate of job losses slowed with 345,000 jobs lost last month, down from 504,000 in April.

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Apr 15

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Other News: Markets Rise on New Signs of Growth

In the day's other news, the stock market rose on new signs of life in the recession-weary economy and Somali pirates unsuccessfully tried to attack another U.S. ship.

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Apr 15

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Consumer Prices Fall in March on Energy Costs

By Admin, PBS News Hour

Consumer prices fell in March, the government reported Wednesday, indicating that weakened demand for goods and services during the economic downturn has kept a damper on energy and food costs.

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Apr 03

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Jobless Rate Climbed to 8.5 Percent in March

The latest report from the Labor Department showed the unemployment rate climbed to 8.5 percent in March. Christine Owens, executive director of the National Employment Law Project, offers insight on the numbers.

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Apr 02

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Other News: Jobless Claims Rise; FDA May be Allowed to Regulate Tobacco Products

The Labor Department reported another increase in new jobless claim benefits, and the House voted to give the Food and Drug Administration authority to regulate tobacco products for the first time.

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Mar 17

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New Home Construction Jumps as Wholesale Prices Edge Up

By PBS News Hour

The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent in February compared with January, pushing total activity to a seasonally adjusted annual rate of 583,000 units.

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Mar 06

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Unemployment Rate Climbs to 8.1% in New Sign of Deepening Recession

The Labor Department reported Friday that the U.S. unemployment rate hit 8.1 percent, its highest rate in 25 years. Ray Suarez reports on the latest employment numbers, reaction from the White House and the impact on Wall Street.

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Jan 29

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Stimulus Package Goes to Senate as Signs of Economic Downturn Continue

By Admin, PBS News Hour

The Democratic-controlled House of Representatives passed President Barack Obama's $819 billion economic stimulus package by a vote of 244-188 Wednesday, amid continuing signs of the U.S. economic downturn.

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Jan 22

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Microsoft Cuts 5,000 Jobs As New Unemployment Claims Rise

By Admin, PBS News Hour

In another sign of how bad the economy is getting for even the biggest companies, Microsoft Corp. announced Thursday that it is cutting 5,000 jobs over the next 18 months.

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