First-time unemployment claims sink to early-recession levels, By Don Lee, February 10, 2012, Los Angeles Times: “In another sign that the job market is gaining momentum, the number of workers filing for unemployment benefits fell further last week – down to levels last seen in the early months of the recession. The Labor Department said Thursday that first-time jobless claims dropped by 15,000 to 358,000 last week, although week-to-week changes can be volatile. The average for the last four weeks, a more reliable measure, dropped to 366,000 – the lowest four-week average since April 2008…”
Unemployment, economic picture revised, more positive, By Richard Wolf, February 9, 2012, USA Today: “A persistent drumbeat of unexpectedly positive job-market developments is leading to revised economic forecasts from Wall Street to the White House. A drop in the number of Americans seeking jobless benefits to 2008 levels, reported Thursday, was just the latest evidence of a private-sector employment revival. It followed a three-month decline in the unemployment rate from 8.9% to 8.3%…”
Latinos, hit hard by job losses, are making strong comeback, By Don Lee, February 5, 2012, Los Angeles Times: “After scraping by on handyman jobs for a year, Bert Qintana figured he’d have to leave his wife and teenage son at their home near Taos, N.M., and find work elsewhere. Then Qintana got a call last month from Chevron Mining, which runs a mine 20 miles away. Would he be interested in hauling muck from the molybdenum mine for $17.05 an hour? He leaped at the offer. ‘Thank God,’ said Qintana, 45, a Latino who had worked as a general contractor. ‘I was able to hang in there and not have to move.’ About a dozen other workers, most of them Latino, also were hired. Like Qintana, many Latinos with ties to the home building industry got slammed by the recession, which wiped out about 2 million construction jobs. But now, as the economic rebound picks up a bit of steam, Latinos are scoring bigger job gains than most other demographic groups and proving to be a bright spot in the fledgling recovery…”
For some black women, economy and willingness to aid family strains finances, By Ylan Q. Mui and Chris L. Jenkins, February 5, 2012, Washington Post: “The Great Recession carried special pain for black women like Jane Ladson. She had always been the one her family turned to when they needed help, and she didn’t hesitate to give it. She helped pay for weddings and rent. She made room for her nephew when her brother died of AIDS. And even now in her 50s, she took in a baby that wasn’t her own. But help was easier to give when the economy was booming and Ladson was bringing home $4,000 a month as a mechanic at Amtrak. Even an injury on the job turned into a blessing in disguise when she collected a $700,000 settlement that allowed her to build her dream home in Clinton and help her longtime partner start her own hair salon. Then the recession hit, and fate twisted the other way…”
Unemployment drop still leaves low skill workers behind, By Michael A. Fletcher, February 6, 2012, Washington Post: “The nation’s jobless rate has declined to its lowest level in three years, a fact that has left Jamie Bean, an unemployed air-conditioner repairman, feeling more left out than ever. Bean, 36, lost his job in December. Now he is scrambling to keep up with child-support payments to his wife, who is also unemployed. ‘As it stands now, I can’t afford to get divorced,’ he said, managing a wry smile. Bean’s predicament is not unlike that of many people who have a high school education or less. Not only were they hit especially hard by the recession but they have continued losing ground in the recovery that has followed. By disproportionate numbers, these Americans have given up looking for work, making the nation’s recovery appear better than it is. If the unemployment rate counted the 2.8 million people who want jobs but have stopped looking, it would sit at 9.9 percent rather than its current 8.3 percent…”
U.S. jobless rate falls to 8.3 percent, a 3-year low, By Motoko Rich, February 3, 2012, New York Times: “The United States economy gained momentum in January, as employers added 243,000 jobs, the second straight month of better-than-expected gains. And in a separate measure, the unemployment rate fell to 8.3 percent, giving a cause for optimism as the economy shapes up as the central issue in the presidential election. Measured by both the unemployment rate and the number of jobless – which fell to 12.8 million – it was the strongest signal yet that an economic recovery was spreading to the jobs market. The last time the figures were as good was February 2009, President Obama’s first full month in office…”
Unemployment rate hinges on more than job gains or losses, Associated Press, February 3, 2012, Washington Post: “For most people, the 8.3 percent unemployment rate is the most visible sign of the economy’s health. The rate’s every movement is closely watched, especially in an election year. But when the rate declines, it’s not always because many more people were hired. The unemployment rate can rise or fall even when no jobs are created or lost. Last month, the rate fell because jobs were added. But that hasn’t always been the case in the 2½ years since the Great Recession ended. One reason for the rate’s decline is that fewer people are looking for work…”
