Initial jobless claims rose unexpectedly last week, coming in 25,000 higher than analysts had been looking for. The number also didn't include a day's worth of activity from California, but James Picerno says there's some optimism to be found in continuing-claims numbers.
Apr 8, 2010 2:21 PM
The much-anticipated March employment numbers from the Bureau of Labor Statistics show that the economy added 123,000 private-sector jobs last month, the most in almost three years. That was lower than analysts had expected, but there are some positive nuggets inside the headline number.
The average work week increased to 34 hours from 33.9, a positive sign. Most employers are likely to work current employees longer before they hire new workers. The department also revised January's job total to show a gain of 14,000, up from a previously reported loss of 26,000. February's job numbers were also revised higher by 22,000 to show a loss of 14,000. The economy has now added jobs in three separate months since the recession began.SEE ALSO: Reactions via NPR and the Journal as well as this chart from Calculated Risk showing just how freakin' far we still have to go.
Apr 2, 2010 11:44 AM
Greater Nashville's unemployment rate in February was 9.7 percent, down from 10 percent the month before. That brings it up back in line with the U.S. jobless number, which was unchanged at 9.7 percent in February, but likely would have been lower were it not for the whopper East Coast snowstorms that month. Among the local (relative) highlights: Davidson County added almost 1,000 jobs from January, Rutherford about 400 and the region's total labor force was steady after growing by more than 5,000 jobs in January.
Apr 2, 2010 8:18 AM
File under: Not a list you want to lead. The Bureau of Labor Statistics this morning released third-quarter statistics on county-level employment and wages that showed Rutherford County had the biggest drop in pay of any large county in the country. It was the only county to see weekly wages fall more than $100. Not far behind is Williamson, while Davidson (along with Tennessee as a whole) checks in with a drop only slightly below the national average.
Apr 1, 2010 10:40 AM
Because that would suggest that decent employment gains are in the offing.
One of the great surprises of the economic downturn that began 27 months ago is this: Businesses are producing only 3 percent fewer goods and services than they were at the end of 2007, yet Americans are working nearly 10 percent fewer hours because of a mix of layoffs and cutbacks in the workweek.Many market watchers had been looking for a solid sign from the March number that will be released tomorrow, but that now looks less likely.
Apr 1, 2010 10:07 AM
Says Nashville-area jobless rate may drop to 8 percent by end of 2011
Mar 31, 2010 2:38 PM
Middle Tennessee is in pretty select company on this Time chart of IHS Global Insight data: It is one of just 10 large U.S. cities expected to post job growth of at least 3 percent in the coming four years. Looking just at 2010, it looks like we'll be basking in Huntsville's glow when it comes to job growth. Based on projections from Moody's Economy.com, the aerospace center to our south will grow its employment base 4.4 percent in 2010. Nashville will have to make do with a quarter of that growth, but it will grow more quickly than Knoxville, Memphis and Chattanooga.
Mar 24, 2010 9:28 AM
Background Verification Services to offer employee verification, drug testing
Mar 24, 2010 8:25 AM
It'll be three of four years before we see a robust job market again, say two professors at Northeastern University. But — even using conservative labor-force growth assumptions — they say it won't be long after till we hear employers moaning about labor shortages. From CNBC's take on the report:
Now, I know what you're thinking — But aren't Boomers staying in the workforce longer so they make up the gaping hole in their retirement savings? Yes, and the study suggests that even that may not be enough to stave off a labor shortage.SEE ALSO: Our story from last October about the demographic trends that could hamper the construction sector.
Mar 23, 2010 10:14 AM
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