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Unemployment Rises, May Spur Rate Cut

Weak jobs data makes Fed action likely

(Newser) - The labor market took a hit in December, with the jobless rate hitting a two-year high and payroll increases falling well short of predictions. Nonfarm payrolls rose just 18,000, much less than both November’s 115,000 and the 50,000 prognosticators expected. The gloomy numbers increase the odds...

Gains Dashed on Jobs Angst
Gains Dashed on Jobs Angst
MARKETS

Gains Dashed on Jobs Angst

Weak December auto sales didn't help the market's fortunes

(Newser) - The market lost substantial early gains today to finish about even, with weak December auto sales and rising oil costs adding to anxiety over tomorrow’s jobs report from the Labor Department. The Dow closed up 12.8 points to 13,056.7, as GM stock declined 2.5% and...

Consumers Open Wallets Wide
Consumers Open Wallets Wide

Consumers Open Wallets Wide

Spending index records biggest increase since July 2005

(Newser) - Consumer spending grew 1.1% in November, its biggest rise since July 2005. The better-than-predicted figure accompanied a revised 0.4% October gain, adjusted from 0.2%. Taken together, the numbers “postpone fears of a recession at least until next year,” said one economist. Jobs numbers and salaries...

10 Jobs That Just Don't Pay
10 Jobs That Just Don't Pay

10 Jobs That Just Don't Pay

Low pay, no benefits and no future are the main characteristics of these jobs

(Newser) - If being paid peanuts in a job with no benefits isn't how you picture yourself, avoid these occupations, tracked down by MarketWatch, at all costs:
  1. Hosts and hostesses, restaurants, lounges, and coffee shops
  2. Counter attendants, cafeterias, food concessions, and coffee shops
  3. Ushers, lobby attendants, and ticket takers

Stocks Edge Up on Mixed Day
Stocks Edge Up on Mixed Day

Stocks Edge Up on Mixed Day

Turmoil besets financial sector

(Newser) - The major indexes saw small gains today despite turmoil in the financial sector and skepticism about a positive jobs report.  The Dow climbed 27.23 points to 13,595.10, the Nasdaq added 15.55 to close at 2,810.38, and the S&P 500 gained 1.21...

Kill Your Chances With These Job Interview Moves

(Newser) - Don't shoot yourself in the foot in your next job interview. A Fortune poll of hiring managers uncovered some anecdotes about the dumbest pitches they'd heard: The interviewee:
  1. "...told me to hire him because he was allergic to unemployment."
  2. "... said that we should hire him because he
...

Housing Slump Dampens '08 Prospects
Housing Slump Dampens '08 Prospects

Housing Slump Dampens '08 Prospects

Economists cut growth forecast; still predict better rate than '07

(Newser) - Economists cut projections for 2008 growth for a third consecutive month, Reuters reports, signaling the fallout from mortgage woes will be widespread and prolonged. A survey of 52 experts estimated the economy would expand 2.4% next year; they’d predicted 2.6% growth last month and 2.8% the...

Jobs Stats Propel Markets
Jobs Stats Propel Markets

Jobs Stats Propel Markets

(Newser) - The Dow and the S&P each set intraday records after today’s unexpectedly good jobs news, and the Nasdaq hit a 7-year high. The Dow closed at 14,066.01, up 91.70 points, and the S&P climbed 14.75 to 1,557.59 after indications that a...

Market Rises on Strong Jobs Report
Market Rises
on Strong
Jobs Report

Market Rises on Strong Jobs Report

September stats strong, August losses revised to gains

(Newser) - Stocks surged this morning after a highly anticipated jobs report came back reassuringly strong, with 110,000 US workers gaining jobs in September. At the same time, the upsetting August jobs loss—which fueled rampant recession fears—was revised to a gain of 89,000. Growth exceeded expectations among economists...

Jobless Claims Rise, but Economists See Silver Lining

Figures lower than expected as labor market deals with volatility

(Newser) - First-time applications for jobless claims rose last week, but economists are encouraged that the figures were less than expected, Bloomberg reports today. Claims grew by 4,000 to 319,000—still well short of the 325,000 applications expected. The numbers suggest that the labor market isn’t collapsing, despite...

Midwest Jobs Take a Beating
Midwest Jobs Take a Beating

Midwest Jobs Take a Beating

Housing slump and auto woes hit the region hard

(Newser) - Jobs in the Midwest have taken a one-two punch from the national housing slump and the flagging Detroit auto industry, the Wall Street Journal reports. Factories that make the materials used to build new homes in high-flying markets from California to Florida are starting to downsize, following huge layoffs by...

Job Losses Don't Add Up to Recession... Yet

Analysts say 4-year-low might be caused by teachers on vacation

(Newser) - Eye-popping job numbers rippled through Wall Street yesterday, but analysts pooh-pooh recession fears as premature. “I think it is important we take a deep breath before screaming ‘A recession is now around the corner!’” one expert says. Four thousand lost jobs may be the worst depletion...

Stocks Plummet on Jobs Report
Stocks Plummet on Jobs Report

Stocks Plummet on Jobs Report

(Newser) - The Dow lost more than 1.5% of its value, or 249.97 points, to close at 13133.38 after a devastating report showed that 4,000 jobs were lost in August, the first increase in unemployment in four years. Wall Street had anticipated job growth, and the numbers prompted...

US Lost Jobs for First Time in 4 Years

August payroll drop shows subprime crisis affecting economy

(Newser) - In the first drop since 2003, the US lost 4,000 jobs in August, surprising experts and putting more pressure on the Fed to reduce rates at its upcoming meeting. Economists had predicted an increase of 100,000 or more jobs. The decline in employment is the clearest signal to...

10 Careers With Staying Power
10 Careers With Staying Power

10 Careers With Staying Power

Career site lists the jobs that won't wear out before you do

(Newser) - For most people job security is a thing of the past, and obsolescence a looming threat.  Happily though, there are some roles that never go out of style. Careerbuilder.com lists the most unshakable jobs, along with median annual income.
  1. Doctor: We always need someone to care for our
...

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