In a sign of continued improvement in the job market, private sector employers added over 200,000 positions in March and the number of planned job cuts fell, according to two reports released Wednesday.
Payroll processing company ADP said private sector payrolls grew by 201,000 in March, after a revised 217,000 increase in February. Economists were expecting a gain of 210,000 private sector jobs, according to consensus estimates from Briefing.com.
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Economists used to say an unemployment rate around 5% was normal, but the recession may have changed all that. The new norm may now be more like 6.7%, according to a paper released by the Federal Reserve Bank of San Francisco Monday.
http://money.cnn.com/2011/02/14/news/economy/fed_unemployment/index.htm
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The jobless rate for Lancaster County (PA) fell again last month to 7.2%, down .3% over November 2010. Showing a slow decline, the jobless rated is only .7% lower over December 2009.
I guess, in some sense, this is good news: there are less people unemployed. Otherwise, for the rest of us who still don’t have a job, or find job opportunities but can’t land the job, this is still bad news. [more…]
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October 10, 2010
NEW YORK (CNNMoney.com) — The job market suffered another blow last month, as business hiring dwindled and the government continued to shed workers. Overall, the economy lost a total of 95,000 jobs in September, the Labor Department reported Friday, far worse than expected and down from the previous month, when employers shed 57,000 jobs. Government […]
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October 5, 2010
NEW YORK (CNNMoney.com) — Tens of thousands of low-income workers lost their jobs Thursday as a stimulus-subsidized employment program came to an end. About a quarter of a million people in 37 states were placed in short-term jobs thanks to a $5 billion boost to the Temporary Assistance for Needy Families program, according to the […]
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