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Fri, 04/08/2011 - 15:17 by Jaspreet Virk
Being jobless is worse than you think. It not only results in loss of income source, but may also increase the risk of premature death, warns a new study.
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Fri, 12/10/2010 - 06:22 by Prince damin
New York -- U.S. markets opened mixed Thursday after the U.S. Department of Labor reported first-time jobless claims fell by 17,000 in the week ending Dec. 4.
As expected, the Bank of England left its overnight lending rate unchanged at 0.5 percent Thursday. The leading index in Britain rose 0.4 percent in October, the Conference Board said.
In most of Asia and Europe markets rose. The dollar index, a pro-rated measure of the greenback against six major currencies, rose 0.32 percent to 80.26, climbing for the third consecutive trading session.
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Wed, 12/08/2010 - 10:29 by Prince damin
New York -- U.S. markets closed flat Tuesday, failing to hold early gains prompted by a compromise tax plan announced by President Barack Obama.
The White House agreed with Republicans to extend the George W. Bush-era tax cuts for two years for all wage earners, even those earning above $250,000 per year. In return, Republicans agreed to an extension of jobless benefits for workers out of a job for extended periods.
Obama said millions of jobs were at stake. If the tax cuts ended for the middle class, jobs would be lost. With the tax cuts in place, millions of jobs were saved, he said.
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Fri, 12/03/2010 - 22:22 by Prince damin
New York -- U.S. markets opened flat Friday on a disappointing employment report that said the jobless rate jumped from 9.6 percent to 9.8 percent.
The report said 39,000 non-farm jobs were added in November, far less than anticipated.
In midmorning trading, the Dow Jones industrial average added 2.01 points, 0.02 percent, to 11,364.42. The Standard & Poor's 500 index lost 0.01 percent, 0.17, to 1,221.62. The Nasdaq composite index gained 0.07 percent, 1.92, to 2,581.27.
The benchmark 10-year treasury note rose 9/32 to yield 2.966 percent.
The euro rose to $1.3349 from Thursday's $1.3224. Against the yen, the dollar fell to 82.96 yen from Thursday's 83.89 yen.
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Fri, 12/03/2010 - 10:12 by Prince damin
Washington -- Economists say the United States is at risk of having a large group of the permanently unemployed if the trend of long-term joblessness continues.
U.S. Labor Department data show those who have been laid off less than five weeks have a monthly re-employment rate of 30.7 percent, while only 8.7 percent of those out of work for a year can expect to find new jobs, The New York Times reported Thursday.
At the moment, 6.2 million people have been out of work for at least six months, the cutoff for unemployment to be considered long-term.
Experts say there could be a number of reasons. Those who tend to stay jobless may be poorer employees, and skills and contacts can erode, especially in fast-moving high-tech fields.
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Thu, 11/04/2010 - 23:31 by Prince damin
Washington -- The U.S. Department of Labor said Thursday first-time claims for jobless benefits rose by 20,000 in the week ending Oct. 30.
A week ago, first-time claims fell by 21,000, putting the past two weeks at a net drop of 1,000 initial claims.
The four-week rolling average of initial unemployment benefit claims rose by 2,000 to 456,000.
The department said the biggest increases in claims for the week ending Oct. 23 were reported by California with 3,755 additional claims, Illinois, which added 3,710 and Pennsylvania, which added 2,256.
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Fri, 09/17/2010 - 05:47 by Prince damin
New York -- U.S. markets closed mixed Thursday after the Labor Department reported 3,000 fewer first-time jobless claims were filed in the week ending Sept. 11.
It was a marginal drop in a total figure of 450,000 claims filed, but it was the second consecutive week claims fell. In the previous week, first-time claims fell by 27,000.
After spending most of the day in negative territory, the Dow Jones industrial average closed higher, gaining 22.10 points, 0.21 percent, to 10,594.83. The Standard & Poor's 500 index lost 0.04 percent, 0.41, to 1,124.66. The Nasdaq composite index added 0.08 percent, 1.93 points, to 2,303.25.
On the New York Stock Exchange, 1,259 stocks advanced and 1,718 declined on a volume of 4.1 billion shares traded.
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Thu, 08/26/2010 - 21:54 by Prince damin
Washington -- The U.S. Department of Labor said Thursday first-time jobless benefits claims declined by 31,000 in the week ending Aug. 21.
The decrease to 473,000 claims for jobless benefits countered a recent rise in claims. The four-week rolling average for initial claims rose by 3,250 to 486,750 from the previous week's revised average of 483,500.
The U.S. unemployment rate is 9.5 percent.
The report said the biggest increases in claims for the week ending Aug. 14 were reported by Puerto Rico with 2,190 additional claims, Wisconsin, which added 1,004, and New Jersey, which added 843, the report said.
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Thu, 08/12/2010 - 23:09 by Prince damin
Washington -- First-time claims for U.S. unemployment insurance benefits rose by 2,000 in the week ending Aug. 7, the U.S. Department of Labor said Thursday.
The department said the four-week rolling average for initial claims rose by 14,250 to 473,500, partly due to last week's gain of 19,000 initial filings.
The U.S. unemployment rate is 9.5 percent.
The biggest increases in claims for the week ending July 31 were reported by Wisconsin, with 1,901 additional claims, Georgia, which added 1,738, and Pennsylvania, which added 1,536, the report said.
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Thu, 07/29/2010 - 22:32 by Inderjit Singh
Washington -- First-time claims for U.S. unemployment insurance benefits fell modestly in the week ending July 24, the U.S. Department of Labor said Thursday.
The department said first-time claims fell by 11,000 to 457,000, pushing the four-week rolling average for claims down 4,500 to 452,500.
The U.S. unemployment rate is 9.5 percent, down 0.2 percentage points May to June.
The biggest increases in claims for the week ending July 17 were reported by California, with 19,809 additional claims, South Carolina, which added 5,115 and North Carolina, which added 4,512, the report said.
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Thu, 07/22/2010 - 22:13 by Inderjit Singh
Washington -- First-time claims for U.S. unemployment insurance benefits escalated sharply last week, the U.S. Department of Labor said Thursday.
In the week ending July 17, the department said first-time claims rose by 37,000 to 464,000, pushing the four-week rolling average for claims to 456,000.
For the second consecutive week, the four-week rolling average climbed by 1,250.
The U.S. unemployment rate is 9.5 percent after dropping 0.2 percentage points May to June.
The biggest increases in claims for the week ending July 10 were reported by New York, with 18,047 additional claims, Indiana, which added 9,094 and Michigan, which added 7,758, the report said.
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Thu, 07/15/2010 - 11:45 by Pankaj Damin
Suitland, Md. -- U.S. state and local government spending rose 6.5 percent, with the biggest increase reported in jobless benefits, the U.S. Census Bureau said Wednesday.
Of the total $2.8 trillion spent by state and local governments in 2008, the most money, $826.1 billion, went to education, the bureau said.
Welfare was the No. 2 expenditure, at $404.6 billion, the bureau said in a report on the 2008 Annual Surveys of State and Local Government Finances.
Insurance trusts, utilities and highways -- at $234.6 billion, $193.4 billion and $153.5 billion, respectively -- were the three next biggest areas of government spending, the bureau said.
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