Labor Department

Unemployment Rate Hits Highest Point in 16 Years

By Admin, PBS News Hour

A day after President-elect Barack Obama warned that the recession could "linger for years" unless Congress pumps money into the economy, a government report released Friday underscored the toll the downturn is having on workers and companies.

Consumer Spending, Durables Goods Orders Drop as Jobless Claims Rise

By PBS News Hour

The Commerce Department reported Wednesday that consumer spending fell for a fifth straight month in November, and Americans' incomes dropped as well, partially reflecting massive job layoffs.

U.S. Unemployment Claims Hit 26-Year High

By Admin, PBS News Hour

More than 570,000 people filed initial applications for jobless benefits during the first week of December, the highest one-week filing rate in 26-years, the Labor Department said Thursday.

U.S. Employers Slash 533,000 Jobs; Unemployment Rate Jumps to 6.7%

By Admin, PBS News Hour

U.S. employers cut 533,000 jobs in November, the most in 34 years, sending unemployment up two-tenths of a point from October to 6.7 percent, the highest in 15 years, the Labor Department reported Friday.

U.S., World Stocks Tumble Amid Bleak Jobs Report

By PBS News Hour

U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy's woes and as new data showed the number of new claims for jobless benefits was at its…

U.S. Markets Plummet, Global Indicators Slide Amid Recession Fears

By PBS News Hour

After a two-day rally, U.S. stock prices plunged Wednesday as investors worldwide expressed concerns the global efforts to inject liquidity and restore confidence to the battered financial system may not be enough to stave off a widespread recession.

Employers Slash 159,000 Jobs in September

By Admin, PBS News Hour

Employers cut payrolls by 159,000 in September, the most in more than five years, the Labor Department reported Friday, raising new fears that the economy has lost its footing and is sliding into a recession.

Reports: High Unemployment, Low Manufacturing

By PBS News Hour

Stocks dropped early in trading Thursday after the government reported that the number of people seeking unemployment benefits rose to a seven-year high and that orders for manufactured goods dropped by 4 percent in August.

Unemployment Rate Jumps to Five-Year High

By Admin, PBS News Hour

The nation's unemployment rate rose to a five-year high of 6.1 percent in August, according to a new Labor Department report, as employers continued to cut jobs in a troubled economy.

Wholesale Inflation Rises, Home Construction Falls

By Admin, PBS News Hour

Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, while construction of homes and apartments fell to the lowest level in more than 17 years, the government reported Tuesday.