Unemployment Rate Rising Despite Job Creation Due to ‘a Lot of Immigrants’ ‘Taking Jobs’
On CNBC’s “The Exchange” on Friday, Mark Zandi, chief economist at Moody’s Analytics, said the rising unemployment rate despite job creation is “because we have strong labor force growth and a lot of immigrants coming into the country looking for work.” Zandi said he believes the economy’s potential growth rate is much higher than most […]
Unemployment Rate Climbs For Another Month As Job Gains Slump
In the United States, nonfarm payrolls increased by 206,000 in June, and the unemployment rate rose to 4.1%. according to According to Bureau of Labor Statistics (BLS) data released on Friday. Economists had expected payrolls to rise by 190,000 in June, much lower than the 272,000 gain in May originally reported, and had expected the […]
US added surprisingly strong 206K jobs last month, unemployment rose to 4.1%
The U.S. labor market added more jobs than expected last month, but the unemployment rate rose more than expected, providing mixed results for investors who were hoping for news that would prompt the Federal Reserve to cut interest rates to tame inflation once and for all. Nonfarm payrolls increased by 206,000 in June, and the […]
Labor market keeps cooling as applications for unemployment benefits rise
While new claims for unemployment benefits rose last week, the number of unemployed people rose further toward the end of June to a 2-1/2-year high, reflecting a gradual cooling in the labor market. Weakening labor market momentum and fading inflationary pressures are likely to lead the Federal Reserve to begin cutting interest rates later this […]
Biden Falsely Claims Unemployment Was 15% When He Took Office
Claim: Joe Biden repeatedly stated that when he took office in 2021, the unemployment rate was 15%. While many have heard Biden announce a 50% unemployment rate when he takes office, it is more likely that the president meant the unemployment rate to be 50%. “There were no jobs,” Biden said. Verdict: False. The unemployment […]
US adds 272,000 jobs, unemployment rises to 4 percent
The U.S. economy added 272,000 jobs in May, and the unemployment rate rose slightly to 4%, according to new Labor Department data released on Friday. The May employment report was much better than expected by economists, who had projected a gain of 185,000 jobs and an unemployment rate unchanged from April’s 3.9%. But the slight […]
US job growth jumps by 272K in May while unemployment unexpectedly rises
Lincoln Tech CEO Scott Shaw explains in “Varney & Company” why young workers are seeking trades jobs: U.S. job growth accelerated again in May, defying expectations of a slowdown even as the unemployment rate rose to its highest level in more than two years. Employers added 272,000 jobs in May, the Labor Department said in […]
California unemployment rate is worst in the country for second year in a row
A new jobs report reveals California’s unemployment rate in April was 5.3% for the third month in a row. California possesses the highest unemployment rate in the country, with the national average being 3.9%. Washington, D.C., was not far behind California, with an unemployment rate of 5.2%, and Nevada was at 5.1%. A year ago, […]
Biden’s labor secretary could be forcing taxpayers to foot $32B in unemployment fraud she caused in California: GOP senators
President Biden’s Labor Secretary will make U.S. taxpayers pay for nearly $32 billion in unemployment fraud he caused during the coronavirus pandemic while serving as California’s top labor official Possibly, the Republican senators wrote. Wednesday’s letter. Sens. Bill Cassidy and Mike Crapo expressed their concerns in a letter to Labor Secretary Julie Su. Department of […]
White House Report Card: Unemployment, campus chaos cast shadow
This week’s White House Report Card finds President Joe Biden in a bind over campus protests of his Middle East policies, rising unemployment and inflation, and depressing reelection polls. Inflation and unemployment flashed red when a jobs report came in weaker than expected on Friday, and the unemployment rate popped up to 3.9%. While it […]