unemployment rate Archives - The Michigan Star

September Job Growth Exceeds Expectations as Unemployment Falls

October 4, 2024 Daily Caller News Foundation

The U.S. added 254,000 nonfarm payroll jobs in September as the unemployment rate ticked down to 4.1%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists expected 150,000 jobs to be added in September, slightly higher than the initially reported 142,000 job gain in August, and the unemployment rate to remain at 4.2%, according to MarketWatch. Meanwhile, previously reported job gains for July and August were revised up by 55,000 and 17,000, respectively, breaking a trend under the Biden-Harris administration of overestimating employment growth in initial estimates, with the cumulative number of new jobs reported in 2023 roughly 1.3 million less than previously thought.

U.S. Job Growth Slows to a Crawl as Unemployment Rises

August 3, 2024August 2, 2024 Michigan Star Staff

The U.S. added 114,000 nonfarm payroll jobs in July as the unemployment rate ticked up to 4.3%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists anticipated that the country would add 175,000 jobs in July compared to the 206,000 added in initial estimates for June, and that the unemployment rate would remain stable at 4.1%, according to U.S. News and World Report. Federal Reserve Chairman Jerome Powell noted in a press conference on Wednesday that a continued slowdown in the labor market could be a sign of further softening in the economy and contribute to a possible cut to the federal funds rate and an easing in harsh credit conditions that have weighed on Americans.

Unemployment Rate Climbs for Another Month as Job Gains Slump

July 6, 2024July 5, 2024 Michigan Star Staff

The U.S. added 206,000 nonfarm payroll jobs in June as the unemployment rate ticked up to 4.1%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists anticipated that 190,000 jobs would be added in June, far fewer than the initially reported 272,000 gain seen in May, and the unemployment rate would remain steady at 4%, according to U.S. News and World Report. Strong topline job gains in recent months have led some top economic officials, like Federal Reserve Chair Jerome Powell, to push back against claims that the economy is stalling, despite slow economic growth and high inflation.

Job Market Continues Hot Streak Despite Persistent Layoffs

April 6, 2024April 5, 2024 Michigan Star Staff

The U.S. added 303,000 nonfarm payroll jobs in March as the unemployment rate ticked down to 3.8%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists anticipated that the country would add 200,000 jobs in March compared to the 275,000 jobs that were added in initial estimates for February, and that the unemployment rate would remain unchanged at 3.9%, according to Reuters. The job gains are in spite of persistent layoffs that reached a 14-month peak in March at 90,309.

Job Growth Exceeds Expectations Despite Mass Layoffs

February 3, 2024 Michigan Star Staff

The U.S. added 353,000 nonfarm payroll jobs in January as the unemployment rate remained at 3.7%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists anticipated that the country would add 180,000 jobs in January compared to the 216,000 that were added in December and that the unemployment rate would tick up to 3.8% from 3.7%, according to Reuters. Despite the job gains, American employers cut 82,307 positions in January, a 136% jump from the previous month, amid a wider trend of layoffs as factors like high inflation continue to hurt business conditions.

Job Growth Remains Cool Despite Boost from Returning Strikers

December 9, 2023December 8, 2023 Michigan Star Staff

The U.S. added 199,000 nonfarm payroll jobs in November as the unemployment rate ticked down to 3.7%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists had anticipated that the country would add 180,000 jobs in November compared to the 150,000 jobs that were added in October and that the unemployment rate would remain at 3.9%, according to Reuters. The number of jobs added in the month was boosted due to the resumption of work by autoworkers and actors who participated in the recent strikes.

Job Gains Fall Short of Expectations as Unemployment Ticks Up

November 4, 2023November 3, 2023 Michigan Star Staff

The U.S. added 150,000 nonfarm payroll jobs in October as the unemployment rate ticked up to 3.9%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists had anticipated that the country would add 180,000 jobs in October compared to the 336,000 jobs that were added in September and that the unemployment rate would remain at 3.8%, according to Reuters. On Wednesday, at the conclusion of its Federal Open Market Committee meeting, the Federal Reserve announced that it would be keeping its federal funds rate steady in the range of 5.25% and 5.50%, a 22-year high, after a series of 11 rate hikes that started in March 2022 in an effort to tame inflation.

America Adds over 300,000 Jobs in September as Interest Rates Remain Elevated

October 7, 2023 Michigan Star Staff

The U.S. added 336,000 nonfarm payroll jobs in September as the unemployment rate remained at 3.8%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists had anticipated that the country would add 170,000 jobs in September compared to 187,000 in August and that the unemployment rate would slide down to 3.7% from 3.8%, according to Reuters. Private employment data for September showed that only 89,000 jobs were added for the month, as the professional and business services, trade, transportations and utilities and manufacturing services sectors all had substantial losses, according to ADP.

Michigan’s June Unemployment Rate Drops Slightly

July 21, 2023July 20, 2023 The Center Square

Michigan’s seasonally adjusted jobless rate decreased by one-tenth of a percentage point to 3.6% during June, according to data released by the state’s Department of Technology, Management & Budget.

Total employment increased by 26,000, while unemployment edged down by 3,000, resulting in a labor force gain of 23,000 over the month.

Commentary: As Hiring Slows Down, So Does the Economy

July 8, 2023 Michigan Star Staff

The U.S. economy added 209,000 jobs in June, according to the latest establishment survey by the Bureau of Labor Statistics, less than expected as 306,000 were added in May, as hiring slowed down nationwide. Meanwhile, the unemployment rate remained about the same at 3.6 percent.

Historically, when hiring slows down by establishments, that usually coincides with economic slowdowns and recessions. In the recent cycle, the 2020 and 2021 recovery from Covid notwithstanding, hiring peaked at about 5.2 percent annualized increase in Feb. 2022. Now, it’s down to 2.5 percent.

Data: Michigan Labor Force Grew in May

June 23, 2023June 22, 2023 The Center Square

Not seasonally adjusted unemployment rates increased in 16 of Michigan’s 17 labor market areas over the month, according to data released today by the Michigan Department of Technology, Management & Budget.

“Regional jobless rates advanced in May as residents began entering the summer job market,” labor market information director for the Michigan Center for Data and Analytics Wayne Rourke said in a statement. “Payroll employment rose in most metro areas over the month.”

Economy Added 339K Jobs in May, Nearly Double Wall Street Expectations

June 4, 2023 Just the News

U.S. employers have added roughly 339,000 jobs in May, and the monthly unemployment rate rose to 3.7%, from a five-decade low of 3.4% in April, according to a Labor Department report released Friday.

Average hourly earnings rose 0.3% for the month while on an annual basis, wages increased 4.3%, which was a 0.1 percentage point under the estimate.

Michigan’s Unemployment Rate Drops Below Four Percent

May 19, 2023May 18, 2023 The Center Square

Michigan’s seasonally adjusted unemployment rate decreased by three-tenths of a percentage point to 3.8% during April, according to data from the Department of Technology, Management, and Budget.

Employment in the state rose by 30,000, while unemployment decreased by 14,000. Michigan’s labor force rose by 18,000 over the month, with some sectors rebounding from COVID’s job losses.

Commentary: Recession Looms as Banks Collapse and the Economy Slows

May 6, 2023 Michigan Star Staff

The unemployment rate still remains at historic lows of 3.4 percent in April, according to the latest data by the Bureau of Labor Statistics, amid other worrying signs for the U.S. economy including a continued collapse of job openings, a string of bank failure and an overall slowing Gross Domestic Product (GDP).

In the survey, as the population increased by 171,000, those not in the labor force increased by 214,000 as labor participation dipped slightly by 43,000. Those who said they had a job increased by 139,000 after a 577,000 increase in March. As a result, the unemployment rate has actually ticked downward for two consecutive months from 3.6 percent in February, to 3.5 percent in March and now 3.4 percent in April.

U.S. Economy Adds 517,000 Jobs as Unemployment Drops to Lowest Since 1969

February 4, 2023February 3, 2023 The Center Square

The U.S. economy added 517,000 jobs in January as the unemployment rate dropped to 3.4%, the lowest since May 1969.

By comparison, there were 260,000 jobs added in December 2022 and the 517,000 was the largest increase since 568,000 in July 2022, according to the latest report from the U.S. Bureau of Labor Statistics.

Unemployment Rate Rose in October

November 5, 2022November 4, 2022 The Center Square

Newly released federal data show the economy created more jobs than expected but unemployment rose in October.

The U.S. Bureau of Labor Statistics released the data, which showed the economy added 261,000 jobs in October, higher than the Dow Jones estimate of 205,000 new jobs.

The U.S. Has Nearly Recovered All the Jobs Lost to COVID Lockdowns

April 2, 2022April 1, 2022 Michigan Star Staff

The U.S. economy recorded an increase of 431,000 jobs in March as COVID-19 concerns ease and more Americans seek work to combat the surging cost of living.

Total nonfarm payroll employment increased by 431,000 in March while the unemployment rate dipped to 3.6%, according to the Bureau of Labor Statistics (BLS). Economists surveyed by Dow Jones predicted the U.S. economy would add 490,000 jobs.

Commentary: The Unemployment Rate Does Not Offer Guidance Now

October 26, 2021October 25, 2021 RealClearWire

The Labor Department’s official unemployment rate—the most well-known gauge of the labor market’s health—counts as unemployed only those who aren’t working but are actively seeking a job.

Yet there is very little that we can infer from the jobless rate about the health of the economy. The unavoidable conclusion is that the only reason investors follow the calculation is because both Washington’s politicians and the Federal Reserve are expected to react to it.

U.S. Economy Added 194,000 Jobs in September, Badly Missing Expectations

October 9, 2021October 8, 2021 Michigan Star Staff

Person using a laptop, pointing to the screen

The U.S. economy reported an increase of 194,000 jobs in September, and the unemployment rate fell to 4.8%, according to Department of Labor statistics.

The number of unemployed people fell by 710,000 to 7.7 million, according to the Department of Labor statistics released Friday. Economists projected that employers created 500,000f jobs in September, more than double the figure in August, according to the Wall Street Journal.

Despite the spike in employment, the labor market remains thin due to the pandemic, and job growth earlier in the year was considerably stronger, according to the WSJ.

Michigan Jobs 322,000 Under Pre-Pandemic Level

July 20, 2021July 19, 2021 The Center Square

Sixteen months after the COVID-19 pandemic began, Michigan is still behind 322,000 jobs compared to pre-pandemic in Feb. 2020.

Michigan’s seasonally adjusted jobless rate of 5% percent was unchanged in June, according to data released by the Michigan Department of Technology, Management & Budget.

“Michigan’s labor market indicators were little changed in June,” Wayne Rourke, the associate director of the Bureau of Labor Market Information and Strategic Initiatives, said in a statement. “The Michigan unemployment rate has been near 5.0 percent for five consecutive months. Payroll job counts in June were similar to March levels.”

U.S. Added 379,000 Jobs in February, Unemployment Rate Fell to 6.2 Percent

March 6, 2021March 5, 2021 Michigan Star Staff

The U.S. economy reported an increase of 379,000 jobs in February while the unemployment rate fell to 6.2%, according to Department of Labor data released Friday.

Total non-farm payroll employment increased by 379,000 in February, according to the Bureau of Labor Statistics (BLS) report, and the number of unemployed persons fell slightly to 10 million. Economists projected 210,000 Americans to be added to payrolls and the unemployment rate to increase to hold at 6.3% prior to Friday’s report, according to The Wall Street Journal.

U.S. Added 49,000 Jobs in January, Unemployment Rate Fell to 6.3 Percent

February 6, 2021February 5, 2021 Michigan Star Staff

The U.S. economy reported an increase of 49,000 jobs in January while the unemployment rate fell to 6.3%, according to Department of Labor data released Friday.

Total non-farm payroll employment increased by 49,000 in January, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell to 10.1 million. Economists projected 50,000 Americans to be added to payrolls and the unemployment rate to increase to come in at 6.7% prior to Friday’s report, according to the WSJ.

New Jobless Claims Decrease to 779,000, Economists Expected 830,000

February 5, 2021February 4, 2021 Michigan Star Staff

The number of Americans filing new unemployment claims decreased to 779,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics (BLS) figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending Jan. 23, in which there were 847,000 new jobless claims reported. Roughly 17.8 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.

New Jobless Claims Spike to 965,000, Economists Expected 800,000

January 15, 2021January 14, 2021 Michigan Star Staff

The number of Americans filing new unemployment claims increased to 965,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics (BLS) figure released Thursday represented a increase in the number of new jobless claims compared to the week ending Jan. 9, in which there were 787,000 new jobless claims reported. Roughly 18.4 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.

New Unemployment Claims Decrease to 712,000, Beating Expectations

December 4, 2020December 3, 2020 Michigan Star Staff

The number of Americans filing new unemployment claims decreased to 712,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics (BLS) figure released Thursday represented a decrease of new jobless claims compared to the week ending Nov. 21, in which there were 778,000 new jobless claims reported. New jobless claims have stayed below 800,000 for more than a month.

New Unemployment Claims Increase to 778,000, Missing Expectations

November 26, 2020November 25, 2020 Michigan Star Staff

The number of Americans filing new unemployment claims increased to 778,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics (BLS) figure released Wednesday represented an increase of new jobless claims compared to the week ending Nov. 14, in which there were 742,000 new jobless claims reported. New jobless claims have stayed below 800,000 for more than a month.

As Jobless Claims Increase, Some States Employment Rates Are Bouncing Back

November 22, 2020November 21, 2020 Michigan Star Staff

The number of individuals who filed for unemployment benefits last week increased to 742,000, the first increase in five weeks, according to new data published by the U.S. Department of Labor.

The number of people who filed for state unemployment benefits in the week ending Nov. 13 grew by 31,000 from the previous week’s revised level of 711,000, according to the Nov. 19 report.

New Unemployment Claims Increase to 742,000, Missing Expectations

November 20, 2020November 19, 2020 Michigan Star Staff

The number of Americans filing new unemployment claims increased to 742,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics (BLS) figure released Thursday represented an increase of new jobless claims compared to the week ending Nov. 7, in which there were 709,000 new jobless claims reported. New jobless claims have been below 800,000 for five consecutive weeks.

New Unemployment Claims Miss Expectations, Stay Unchanged

November 5, 2020November 5, 2020 Michigan Star Staff

The number of Americans filing new unemployment claims came in at 751,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

New jobless claims were unchanged compared to the week ending Oct. 24 in which there were also 751,000 new jobless claims reported, the Bureau of Labor and Statistics figure released Thursday showed. New jobless claims have been below 800,000 for three consecutive weeks, according to CNBC.

New Unemployment Claims Decrease to 837,000, Beat Expectations

October 1, 2020October 2, 2020 Michigan Star Staff

The number of Americans filing new unemployment claims decreased to 837,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Department of Labor figure released Thursday represented a decrease of new jobless claims compared to the week ending on Sept. 19, in which there were 870,000 new jobless claims reported.

870,000 U.S. Workers File New Unemployment Claims, Overall Rate Dips Slightly

September 24, 2020September 24, 2020 Michigan Star Staff

About 870,000 workers filed new unemployment claims last week, a slight increase from the week prior though the overall unemployment rate continues its slow decline.

According to U.S. Department of Labor data released Thursday, the seasonally adjusted unemployment rate was 8.6% for the week ending Sept. 12, with 12.58 million workers filing continued claims for benefits.

US Economy Added 1.4 Million Jobs in August, Unemployment at 8.4 Percent

September 5, 2020September 4, 2020 Michigan Star Staff

The U.S. economy added 1.4 million jobs in August, while unemployment fell to 8.4%, according to Department of Labor data released Friday.

Total non-farm payroll employment rose by 1.4 million in August, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 2.8 million to 13.6 million. The unemployment rate fell below 10% for the first time since April when the rate reached 14.7%.

New York City Has Worst Unemployment Rate as One in Three Workers Worry About Job Security

September 5, 2020September 4, 2020 Michigan Star Staff

As Americans approach Labor Day, with roughly 10.2 percent unemployed, a new survey conducted by WalletHub found that one in three Americans worry about job security.

In its nationally representative Coronavirus & Labor Day Survey, WalletHub found that Americans want extended COVID-19 relief. Of those surveyed, 74 percent said Congress should continue to extend additional federal unemployment benefits until their respective states fully reopen.

July Jobs Report: 1.8 Million Jobs Added, Unemployment at 10.2 Percent

August 8, 2020August 7, 2020 Michigan Star Staff

The U.S. economy added 1.8 million jobs in July, while unemployment fell to 10.2%, according to Department of Labor data released Friday.

Total non-farm payroll employment rose by 1.8 million in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1.4 million to 16.3 million.

More Than 1.4 Million Americans File New Unemployment Claims

July 31, 2020July 30, 2020 Michigan Star Staff

More than 1.4 million American workers filed new unemployment claims last week, an increase over the previous week as new restrictions are being put in place to slow the spread of COVID-19.

According to the U.S. Department of Labor, 1.43 million workers filed new claims for unemployment benefits in the week ending July 25, up 12,000 from the week ending July 18. It was the second week in a row that new claims increased.

More Than a Million Americans File New Unemployment Claims

July 16, 2020July 16, 2020 Michigan Star Staff

Four months into the COVID-19 pandemic, an additional 1.3 million Americans filed for unemployment benefits last week, according to U.S. Department of Labor data released Thursday.

That’s down 10,000 from the previous week but still significantly higher than pre-pandemic figures.

Michigan’s Unemployment Once Again Begins to Drop

July 10, 2020July 9, 2020 Michigan Star Staff

New unemployment claims dropped slightly in Michigan last week, a trend also reflected in national numbers reported by the U.S. Department of Labor (DOL).

The week-over-week numbers reported for Michigan the week ending July 4 show 34,470 DOL new initial claims, a decrease of 3,839 initial unemployment claims from the previous week’s 38,309 new claims.

Weekly Jobless Claims Lower Than Expected at 1.3 Million

July 9, 2020July 9, 2020 Michigan Star Staff

Jobless claims for the past week were lower than economists had predicted as workers begin returning to their jobs, according to data from the Labor Department shows.

The total number for jobless claims for the week ending in July 4 was 1.3 million, according to the Labor Department data, which is 99,000 fewer claims than the previous week. Economists surveyed by Down Jones had predicted 1.39 million jobless claims, according to CNBC.

1.5 Million Workers File New Unemployment Claims

June 19, 2020June 18, 2020 Michigan Star Staff

More than 1.5 million American workers filed new unemployment claims last week, according to the U.S. Department of Labor, even as state restrictions to slow the spread of COVID-19 are easing.

More than 45 million claims have been filed in the three months since state and local governments started restrictions that closed businesses deemed nonessential, but millions of those workers have since gone back to work as states began reopening their economies.

Michigan Adds Another 57,714 Unemployed Last Week

May 29, 2020May 28, 2020 Michigan Star Staff

Michigan’s unemployment still hovers near 1.5 million claims, according to U.S. Department of Labor numbers released Thursday morning.

Michigan’s unemployment level is slightly under 23 percent, more than a 400 percent increase since the beginning of measures implemented by Gov. Gretchen Whitmer to curtail the spread of COVID-19 in late March.

U.S. Unemployment Claims Top 40 Million Since March

May 28, 2020November 9, 2020 Michigan Star Staff

More than 40 million Americans have filed unemployment claims since mid-March, when state governments across the U.S. began restrictions to slow the spread of COVID-19, including closing businesses deemed nonessential.

Last week, an additional 2.12 million workers filed claims, according to U.S. Department of Labor data released Thursday, the 10 consecutive week in which new jobless claims were in the millions. The 2.12 million claims from the week ending July 23 is down 323,000 from the 2.44 million workers who filed for benefits in the week ending May 16 and is the lowest number of new claims since the week ending March 15.

Nearly Three Million New Unemployment Claims Drives Two-Month Total to More Than 36 Million

May 14, 2020May 14, 2020 Michigan Star Staff

New jobless claims continued their COVID-19 surge last week, driving the total number of those filing for unemployment benefits to more than 36 million over the past two months.

Even as many states across the country began easing restrictions and slowly reopening their economies, 2.98 million Americans filed for new unemployment benefits for the week ending May 9, according to data released Thursday by the U.S. Department of Labor.