Unemployment

Sally Zeita, 3, stands beside her mother Amani as she prepares a Ramadan dessert at their home in the village Ein 'Arik in the occupied West Bank on March 24.

6 months into war, Palestinians face high unemployment and a 'disastrous' economy

2:27pm April 10, 2024

by Jaclyn Diaz

A Palestinian Authority official says there are around 700,000 Palestinians in the West Bank and Gaza who have gone six months without work since the war between Israel and Hamas began on Oct. 7.

Hiring accelerated in the U.S. in March, adding 303,000 jobs, according to a report from the Bureau of Labor Statistics. The unemployment rate dipped to 3.8%, staying under 4% for more than two full years. People walk past a Home Depot in San Rafael, Calif.

Economy

Construction boom helps fuel job gains in March

5:23pm April 05, 2024

by Scott Horsley

U.S. employers added 303,000 jobs last month, and the unemployment rate dipped to 3.8%. Construction companies added 39,000 jobs, despite high interest rates.

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A home available for sale is shown in Austin, Texas, on Oct. 16, 2023. Former Treasury Secretary Larry Summers argues the consumer price index may understate the pain of rising interest rates, such as higher mortgages.

Here's a big reason why people may be gloomy about the economy: the cost of money

5:56pm February 28, 2024

by Scott Horsley

Former Treasury Secretary Larry Summers argues that high interest rates are contributing to people's gloomy economic mood. Sentiment may improve, though, if the Federal Reserve begins to cut rates.

A construction worker is seen in Miami on Jan. 5, 2024. U.S. employers added more jobs than expected in January including in the construction sector.

Economy

The U.S. created an extraordinary number of jobs in January. Here's a deeper look

4:27pm February 02, 2024

by Scott Horsley

U.S. employers added 353,000 jobs in January — far more than forecasters expected. The sizzling job market is good for workers but could cause the Federal Reserve to postpone a cut in interest rates.

The U.S. job market held up well in 2023, despite rising interest rates. Employers added 2.7 million jobs last year and unemployment remained under 4% throughout the year.

Economy

U.S. unemployment has been under 4% for the longest streak since the Vietnam War

10:37am January 05, 2024

by Scott Horsley

U.S. employers added 216,000 jobs in December, as the unemployment rate held steady at 3.7%. The labor market proved resilient in 2023, despite rising interest rates.

A person works at Ford's Rouge Electric Vehicle Center in Dearborn, Mich. on Sept. 20, 2022. U.S. employers created 199,000 jobns last month, higher than in October, in part as UAW workers returned to work after a strike against the Big Three automakers.

Economy

The labor market stays robust, with employers adding 199,000 jobs last month

10:04am December 08, 2023

by Scott Horsley

U.S. employers added 199,000 jobs in November, higher than the 150,000 jobs created in the previous month, reflecting in part the return of striking UAW and Hollywood workers.

The unemployment rate jumped in October, but layoffs are still rare.

The 'R' word: Why this time might be an exception to a key recession rule

5:00am November 12, 2023

by Scott Horsley

The author of the 'Sahm Rule' is less worried about rising unemployment this time, even though October's rate was up 0.5% from a recent low...a jump typically associated with the onset of recession.

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Workers picket outside a Ford plant in Chicago on Oct. 10, 2023. The U.S. created 150,000 jobs in October, marking a slowdown from the previous month, partly as a result of the UAW strikes.

Economy

Job growth slowed last month, partly over the impact of the UAW strikes

9:08am November 03, 2023

by Scott Horsley

The U.S. added 150,000 jobs last month, slowing down from the blistering pace seen in September. The drop was partly the result of an unprecedented autoworkers' strike.

People walk past a restaurant, with a hiring sign outside in Washington, D.C., on Oct. 5, 2023. Employers added 336,000 jobs in September, far more than what analysts had predicted.

How to make sense of the country's stunningly strong job market

1:53pm October 06, 2023

by Scott Horsley

U.S. employers added about twice as many jobs in September as forecasters expected. That's good for people looking for work, but the strong report could complicate the Fed's effort to curb inflation.

The latest employment data for July is bolstering hopes about the economy after employers continued to add jobs at a solid clip.

The case for a soft landing in the economy just got another boost

4:42pm August 04, 2023

by Scott Horsley

U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.