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In a good sign for the job market, the number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week to their lowest level since July 10.
Initial unemployment claims dropped 11,000, to 445,000, in the week ended Oct. 2, the Labor Department said in its weekly report Thursday. New claims for the previous week, ended Sept. 25, were revised upward slightly to 456,000 from 453,000. Get the full story »
Flight attendants with Continental Airlines Inc said they will not participate in contract talks with their peers at United Airlines, according to a report in Bloomberg.
United flight attendants had said in an exchange of letters they would have more leverage if they worked together, according to Bloomberg.
Representatives for Continental and for Association of Flight Attendants could not be immediately reached for comment. Get the full story »
American Airlines is recalling about 800 furloughed employees, about 1 percent of its work force, as it adds flights on international routes. CEO Gerard Arpey announced the jobs as American launched a new trans-Atlantic business with British Airways and Spanish airline Iberia. American is working on a similar alliance with Japan Airlines across the Pacific.
The number of planned layoffs at U.S. firms rose slightly in September, though it was the second lowest level of the year, a report Wednesday said.
Employers announced 37,151 planned job cuts last month, up 7 percent from the 34,768 job cuts reported in August, according to the report from global outplacement consultancy Challenger, Gray & Christmas Inc. Get the full story »
Kohl’s Corp. is increasing its holiday hiring this season by 21 percent, another major retailer to boost its employee count this winter.
The department store chain said Wednesday it expects to hire more than 40,000 people this season, up from 33,000 last year. Get the full story »
From left to right, Paul Volcker, Jill Biden, President Barack Obama, and Penny Pritzker at Monday's meeting of his economic advisory board. (Chip Somodevilla/Getty Images)
President Barack Obama on Monday said the United States was facing an “untenable fiscal situation” and would have to get serious about tackling its federal deficit.
The U.S. budget deficit is forecast at a record $1.47 trillion in the fiscal year that ended on Sept. 30, 2010.
Obama said that emergency government spending measures he took to support growth and hiring when he took office last year had temporarily added to the funding gap, but the deficit had to be tackled going forward. Get the full story »
The Federal Reserve should take further action to stimulate the economy, or risk letting it fall into a vicious cycle of joblessness and deflationary pressures, top Fed official said on Friday. Get the full story »
By Bloomberg News
Wal-Mart Stores Inc., the world’s largest retailer, plans to increase its workforce by 36 percent in the next five years as global economic growth boosts spending.
New employees will be hired “mostly” outside the U.S., Susan Chambers, executive vice president for human resources, said in a speech at a conference in New Delhi today. “The opportunity for growth is not just in India but global,” she said, without providing more details on the hiring plans. Get the full story »
U.S. chief executive officers’ view of the economy darkened in the third quarter, with top executives saying they were less willing to hire new workers as they fear sales growth will slow. Get the full story »
As expected, a Senate bill designed to end tax breaks for U.S. companies that move jobs and manufacturing plants overseas failed a key test vote Tuesday.
With a 53-45 vote, Senate Republicans blocked a Democratic efforts to end debate and ultimately vote on a “jobs” bill. Get the full story »
The poverty level in Illinois increased 24 percent over the past decade — to 13.3 percent in 2009, according to new data released by the U.S. Census Bureau this morning.
Women managers in the United States are paid 81 cents for every dollar earned by male managers, according to a government report released Tuesday.
The 19-cent wage gap marks a slight narrowing from a study seven years earlier that showed women managers making 79 cents for each man’s dollar, said the report by the U.S. Government Accountability Office. The study compared U.S. Census Bureau data from 2000 to 2007. Get the full story »
Chrysler Group fired 13 workers at the same auto plant visited by President Barack Obama this summer after a local television station report showed some of them drinking on their lunch breaks.
Two other workers were also suspended for a month without pay, the automaker said.
Acting on a tip, a Detroit Fox News affiliate’s cameras and reporter captured workers from the Chrysler Jefferson North Assembly Plant guzzling beer and, in some cases, smoking what appeared to be hand-rolled cigarettes or other smoking material. Get the full story »
Federal Reserve Chairman Ben Bernanke acknowledged the economics profession has a lot to answer for after the financial crisis of 2007-2009, including why economists have been unable so far to engineer a healthy recovery. Get the full story »
