Trump campaign nails ‘Kamalanomics’ as stock market crashes on bad unemployment report
The stock market reacted negatively to the worsening unemployment report, and the Trump campaign blasted Democrats for what some saw as a sign of an economic recession. “Kamala Harris has repeatedly and proudly celebrated her role as Joe Biden’s co-pilot for ‘Bidenomics.’ She cast the deciding votes in the Senate for inflation-boosting spending, and despite […]
July Jump in Unemployment Triggers Key Recession Indicator
The economy may already be in recession. The sudden and unexpected rise in the unemployment rate in July meant that the U.S. jobless rate crossed a key threshold that usually means the economy is in recession. The U.S. Labor Department said Friday that the unemployment rate rose to 4.3% in July, bringing the three-month moving […]
Report: U.S. Economy Added 114K Jobs In July, Unemployment Increases To 4.3%
(Photo: Olivier Dourilley/AFP via Getty Images) By James Myers, OAN StaffFriday, August 2, 2024 7:56 AM U.S. job growth slowed more than expected in July and the unemployment rate rose to 4.3%, raising concerns that the labor market is stagnating and the economy could tip into recession. advertisement The Labor Department’s Bureau of Labor Statistics […]
US economy added a paltry 114,000 jobs in July, unemployment spikes to 4.3%
U.S. job growth slowed more than expected in July and the unemployment rate rose to 4.3%, raising concerns that the labor market could worsen and tip the economy into recession. In its closely watched jobs report released Friday, the Labor Department’s Bureau of Labor Statistics said nonfarm payrolls rose by just 114,000 last month after […]
U.S. Economy Added Just 114,000 Jobs in July, Unemployment Surges
The Labor Department said Friday that U.S. employers added 114,000 workers in July, helping push the unemployment rate up to 4.3%. Economists had expected 180,000 jobs and an unemployment rate of 4.1%. Disappointing employment growth and a sharp rise in the unemployment rate suggest the economy may be heading toward a recession. The unemployment rate […]
US job growth slows to 114K in July while unemployment unexpectedly jumps
Construction is booming in states such as Arizona, California, Florida and Texas. U.S. job growth slowed sharply in July and the unemployment rate unexpectedly rose to its highest level in nearly three years. The Labor Department said on Friday that employers 114,000 jobs The number of people employed in July rose by 15,000 year-on-year, short […]
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 […]