Unemployment in US

US economic growth to speed up to 3.1pc, White House says

The US unemployment rate will ease to an average of 6.9 per cent this year under the White House's projections. Photo: Bloomberg

The White House forecast more robust economic growth in the United States this year than last year and a further pick-up in the economy next year.

Wednesday, 12 March, 2014, 5:21am

'Meaningful' job gains led Fed to trim bond purchases, minutes show

A television screen shows the Federal Reserve's decision on bond purchases after its policy meeting last month. Photo: AP

The United States Federal Reserve agreed last month to modestly reduce its bond purchases because of improvements in the job market that many Fed members felt would be sustained.

9 Jan 2014 - 11:47pm

US stocks jump on strong jobs report, unemployment falls

Job seekers speak to potential employers at a job fair in Manhattan. Photo: AFP

US stocks moved higher on Friday after a surprisingly strong jobs report suggested the economic recovery was on track. The widely-anticipated monthly jobs report said the unemployment rate fell to 7.7 per cent from 7.9 per cent, while the number of net jobs gained came in at 236,000, according to the Labor Department.

8 Mar 2013 - 11:47pm

Business Digest, January 18, 2013

Passenger volumes at Cathay Pacific Airways and Dragonair grew 5 per cent last year.

The number of Americans filing first-time claims for jobless benefits fell last week by 37,000 to 335,000, the lowest level in five years, pointing to further improvement in the labour market. 

18 Jan 2013 - 5:27am

Labour data eases fears over Fed plans to end QE

The jobless rate held at 7.8 per cent. Photo: AFP

Most US stocks inched up yesterday after fresh data showed steady gains in jobs while the jobless rate stayed at a level that's unlikely to hasten the end of the Federal Reserve stimulus.

5 Jan 2013 - 3:13am

US fiscal cliff deal will hit growth, say economists

The budget deal struck by the White House and US Senate Republican leaders, if it becomes law, would probably slow the US economic recovery without stopping it.

2 Jan 2013 - 4:24am

Austerity not the solution to America's unemployment crisis now

US President Barack Obama included a modest amount of fiscal stimulus in his initial budget offer. Photo: AFP

Let's get one thing straight: America is not facing a fiscal crisis. It is, however, still very much experiencing a job crisis.

It's easy to get confused about the fiscal thing, since everyone's talking about the "fiscal cliff". Indeed, one recent poll suggests that a large plurality of the public believes that the budget deficit will go up if we go off that cliff.

9 Dec 2012 - 10:24am

US push to bring factories home unlikely to hit China, experts say

Stanley Lau Chin-ho. Photo: Felix Wong

High-end manufacturing may be starting to shift back from China to the United States, but China will remain a major manufacturing base for the foreseeable future, say industry players.

8 Dec 2012 - 4:22am

Business Digest, November 30, 2012

The Labor Department received fewer first-time claims for unemployment insurance last week as the disruptions wrought by superstorm Sandy ebbed.

S&P maintains China's sovereign debt ratings

Standard & Poor's affirmed China's sovereign long-term credit rating of AA-minus and short-term rating of A-1-plus in an annual report yesterday and said the outlook remains stable, citing the country's "exceptional" growth prospects, holdings of overseas assets and modest government indebtedness. Bloomberg


8 May 2015 - 9:46am

Bailing out the wrong guys

High US unemployment has been exacerbated by homeowners being deeply in debt and owing more than their homes are worth. Photo: AFP

The stuttering growth of the once almighty US economy, especially the sluggish creation of new jobs, is having a profoundly depressing impact worldwide, dragging querulous Europe and even high-flying Asian economies down to earth.

28 Nov 2012 - 2:34am

Bernanke steps up warning over fiscal cliff

Ben Bernanke urged Congress to act to avoid the 'fiscal cliff' of severe budget cuts and tax hikes in 2013, which he said would throw the US economy back into recession.

US Federal Reserve chairman Ben Bernanke stepped up his warning Tuesday over the looming ‘fiscal cliff,’ saying its mandatory tax hikes and spending cuts pose a “substantial threat” to the country’s economic recovery.

21 Nov 2012 - 4:31am

US economy report brings mixed signals on jobs

Job seekers at a recruitment fair in New York. US unemployment stands at 12.3 million people. Photo: AP

The final key economic report four days before the US presidential election held something for both candidates yesterday.

It showed the monthly unemployment rate ticked up slightly but with far more jobs created than expected, as voters decide between a second term for President Barack Obama or a change to Republican challenger Mitt Romney.

3 Nov 2012 - 3:58am