CNBC's Rick Santelli & Steve Liesman discuss the weekly jobless claims, down 5,000 from the prior week.
http://video.cnbc.com/gallery/?video=3000080041
Showing posts with label jobless. Show all posts
Showing posts with label jobless. Show all posts
Thursday, March 22, 2012
Saturday, March 10, 2012
Seedco, New York Job Agency, Is Accused of Filing False Job Claims
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Excerpt from an article in
Excerpt from an article in
The New York Times
Saturday, March 10, 2012
Seedco, New York Job Agency, Is Accused of Filing False Job Claims
By MICHAEL POWELL
City investigators have discovered evidence of large-scale fraud in one of the agencies leading Mayor Michael R. Bloomberg’s signature initiative to find jobs for unemployed New Yorkers.
The Department of Investigation found that Seedco, a nonprofit organization that frequently works with the Bloomberg administration, falsely claimed to have helped at least 1,400 people — out of about 6,500 — find jobs; those people are in fact jobless or found employment on their own.
Seedco “developed systematic practices to report false placements” to the city’s Department of Small Business Services, according to a report on the investigation that was released on Friday.
The Department of Investigation noted that the number of fraudulent claims could be much higher, because Seedco, with permission from the city, shredded job placement documents between 2008 and February 2011.
Federal prosecutors have begun their own inquiry and have interviewed several former Seedco employees. Seedco is cooperating with that inquiry, the agency president, Barbara Dwyer Gunn, said through a spokesman.
The reports of fraud come as a blow to Mr. Bloomberg, who sought a third term based on his ability to lead the city in a tough economy and has heralded his administration’s success in finding jobs for unemployed New Yorkers.
Friday, February 10, 2012
Claims for Jobless Benefits Fall
Excerpt from an article in The New York Times
Friday, February 10, 2012
Claims for Jobless Benefits Fall, Suggesting a Trend
By REUTERS
WASHINGTON (Reuters) — The number of Americans signing up for unemployment benefits fell unexpectedly last week, the latest sign of recovery in the nation’s labor market.
Initial claims for state jobless benefits dropped 15,000, to 358,000, the Labor Department said on Thursday. A four-week average of new filings, which provides a better view of the trend, hit its lowest level since April 2008.
The decline in first-time claims, which defied economists’ forecasts for a rise to 370,000, pointed to building strength in the labor market and improved the chances of another increase in employment this month.
“We are getting better employment growth and are seeing some signs that we are getting some self-sustaining aspects of economic activity,” said Michael Strauss, chief economist at Commonfund in Wilton, Conn.
Other data on Thursday showed a jump in wholesale inventories in December, suggesting the government’s fourth-quarter growth estimate could be revised higher.
But much will depend on the December trade data on Friday and a broader report on overall business inventories next week.
The recent string of upbeat data has raised doubts about whether the Federal Reserve will carry out a third round of bond buying to spur the recovery.
Friday, February 10, 2012
Claims for Jobless Benefits Fall, Suggesting a Trend
By REUTERS
WASHINGTON (Reuters) — The number of Americans signing up for unemployment benefits fell unexpectedly last week, the latest sign of recovery in the nation’s labor market.
Initial claims for state jobless benefits dropped 15,000, to 358,000, the Labor Department said on Thursday. A four-week average of new filings, which provides a better view of the trend, hit its lowest level since April 2008.
The decline in first-time claims, which defied economists’ forecasts for a rise to 370,000, pointed to building strength in the labor market and improved the chances of another increase in employment this month.
“We are getting better employment growth and are seeing some signs that we are getting some self-sustaining aspects of economic activity,” said Michael Strauss, chief economist at Commonfund in Wilton, Conn.
Other data on Thursday showed a jump in wholesale inventories in December, suggesting the government’s fourth-quarter growth estimate could be revised higher.
But much will depend on the December trade data on Friday and a broader report on overall business inventories next week.
The recent string of upbeat data has raised doubts about whether the Federal Reserve will carry out a third round of bond buying to spur the recovery.
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