The U.S. Labor Department’s weekly jobless claims report is a mixed bag. Initial claims fell 6,000 to 462,000, but continuing claims rose 37,000 to 4.558 million. And the less-volatile four-week moving average increased 5,500 to 475,500. Continue reading Initial Jobless Claims Drop, but Continuing Claims Rise Initial Jobless Claims Drop, but Continuing Claims Rise originally appeared on DailyFinance on Thu, 11 Mar 2010 09:10:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Initial Jobless Claims Drop, but Continuing Claims Rise

As the job market stabilizes, many workers are accepting temporary and part-time jobs. Some economists think new full-time jobs are the next step, but deep changes in the economy may mean that millions of workers will remain underemployed for a long time. Continue reading Underemployment a Growing Problem, Even as the Job Market Turns Underemployment a Growing Problem, Even as the Job Market Turns originally appeared on DailyFinance on Sun, 07 Mar 2010 11:00:00. Permalink | Tweet this! | Comments

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Underemployment a Growing Problem, Even as the Job Market Turns

A jobless rate of 9.7% is nothing to cheer about, but the February numbers provide the strongest indication yet that job losses have finally bottomed and job creation may be starting. However, analysts clearly don’t discount concerns that the nation could slip back into recession this year. Continue reading Accentuating the Positive in the February Employment Report Accentuating the Positive in the February Employment Report originally appeared on DailyFinance on Fri, 05 Mar 2010 13:45:00. Filed Under: Economy , Careers Permalink | Tweet this! | Comments

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Accentuating the Positive in the February Employment Report

There’s an old adage, “Be careful what you wish for: you might get it.” Regarding free markets, Tea Party members have no need to wish: what they want is already here. With their free market philosophy triumphant, this group is now blaming the federal government for the unemployment the free market put in motion. Continue reading What the Tea Partiers Want Is Already Here What the Tea Partiers Want Is Already Here originally appeared on DailyFinance on Sat, 20 Feb 2010 18:00:00. Filed Under: Columns , Economy Permalink | Tweet this! | Comments

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What the Tea Partiers Want Is Already Here

If you owned a house that’s now worth a lot less than what you owe on your mortgage, would you walk away from the home and default on the mortgage? If so, you’d have plenty of company. In 2009, Reecon Advisors released a national survey indicating that nearly one out of 10 homeowners, 9.2% or 7.4 million, would likely choose to default if they were in that situation. And today, we’re seeing more and more evidence that some people are beginning to do just that . They’re choosing to “strategically default” on their mortgages. Continue reading Should You Consider a ‘Strategic Default’ on Your Mortgage? Should You Consider a ‘Strategic Default’ on Your Mortgage? originally appeared on DailyFinance on Sat, 06 Feb 2010 11:15:00. Filed Under: Investing , Real Estate Permalink | Tweet this! | Comments

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Part of the market run up between Labor Day and mid-January was based on the belief that corporate revenue and earnings would increase in the fourth quarter of 2009. At first blush, they have, but only at first blush. A study by Reuters shows that corporate sales among the S&P 500 companies are up only 2% based on numbers release so far when the financial sector is taken out of the figures. With financial firms added in, the improvement is 7%. Continue reading Fourth Quarter Company Revenue Gains Are a Mirage Fourth Quarter Company Revenue Gains Are a Mirage originally appeared on DailyFinance on Sat, 06 Feb 2010 12:00:00. Filed Under: Economy , Earnings Permalink | Tweet this! | Comments

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Fourth Quarter Company Revenue Gains Are a Mirage

The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation’s employers. The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected. Continue reading Employers Cut 85,000 Jobs in Dec.; Unemployment Rate Steady at 10% Employers Cut 85,000 Jobs in Dec.; Unemployment Rate Steady at 10% originally appeared on DailyFinance on Fri, 08 Jan 2010 08:41:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Employers Cut 85,000 Jobs in Dec.; Unemployment Rate Steady at 10%

Earlier this year, the National Alliance to End Homelessness estimated that 1.5 million people would be made homeless over the next two years as a result of the recession. In this series of profiles , DailyFinance speaks with some of the people who have fallen victim to layoffs, foreclosure, unforgiving creditors and plain old bad financial luck. Here are their stories. The descent into homelessness can occur with terrifying speed. For Mike, a 33-year-old aspiring Web developer, it happened after an emergency loan from a relative suddenly fell through, driving his family out of a motel and onto the streets of San Francisco in September. Continue reading The New Homeless: Aspiring Web Developer Ends Up on San Francisco’s Streets The New Homeless: Aspiring Web Developer Ends Up on San Francisco’s Streets originally appeared on DailyFinance on Mon, 28 Dec 2009 12:30:00. Filed Under: Company News Permalink | Tweet this! | Comments

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The New Homeless: Aspiring Web Developer Ends Up on San Francisco’s Streets

Filed under: Technology , Economy As 2009 draws to a close, higher unemployment and lower incomes are translating into a Christmas that will be even leaner than last year’s. According to a recent CNN poll , 49% of consumers plan to spend less this holiday than they did in 2008. Another 39% say their spending will remain the same as last year. Only 12% of respondents plan to spend more. The CNN poll, which surveyed over 1,000 consumers, showed that increasing frugality will also influence the types of gifts that people give. Some 68% of respondents plan to give presents that recipients need, while 27% say their gifts will be playful. Continue reading Scroogier holiday spending means blue Christmas for communities Scroogier holiday spending means blue Christmas for communities originally appeared on DailyFinance on Tue, 15 Dec 2009 10:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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If you think the Great Recession has been tough on middle-aged workers, just try being in your 20s. According to the latest data, adults 25-34 have an unemployment rate of 10.8 percent , nearly a full point higher than the all-age average. For 20- to 24-year-olds, the figure spikes to a staggering 15.6 percent . For every hyper-educated, super-technologically- evolved twenty or early thirty-something with a stranglehold on a coveted information-economy job, there are at least as many millenials who risk being marginalized in the lowest-wage tiers of the service sector. As The New York Times ( NYT ) recently pointed out, with hundreds of thousands of young men being forced to move in with their parents or take in extra roommates, even the bachelor pad has come under assault . Bye-bye black leather sofa. Hello twin bed and little league trophies. But just as some Baby Boomers and Generation X’ers are taking extraordinary measures to claim their stake in the neo-Mad Max recovery, it seems Y’ers are going to equally historic lengths. And Kevin Lee, 27, may hold the record. Continue reading White Collar Reset: How far are you willing to go to get a job? White Collar Reset: How far are you willing to go to get a job? originally appeared on DailyFinance on Fri, 11 Dec 2009 13:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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White Collar Reset: How far are you willing to go to get a job?