Update: Citing a “highly placed” source he apparently met up with at the Oyster Bar at Grand Central Station, CNBC’s John Carney reports that fixed-income desks across Wall Street are in for some serious layoffs. Says the shellfish aficionado:
“We’re easily going to cut a quarter to a half of our traders and Read More
New York City residents, rejoice! A mere 9.4 percent of you were unemployed in August, according to figures released today by the New York State Department of Labor. That’s a little better than the nationwide rate of 9.6 percent.
The city rate remained flat from July, and marked a decrease from the August Read More
Newly minted Council of Economic Advisors head Austan Goolsbee said Sunday that he expects the unemployment rate, currently at 9.6 percent, to remain at high levels for a long time.
Goolsbee declined to predict a specific unemployment rate for the end of 2010, saying only that he didn’t expect a decline in joblessness Read More
The Department of Labor today released its jobless claims numbers for the week ended Sept. 4. The number of people filing for unemployment benefits fell by 27,000 to 451,000.
The stock market appears to be rallying on the decline in unemployment claims, which was much larger than the decline of 2,000 economists had forecast. “Read More
The U.S. Department of Labor is heralding the upcoming long weekend by announcing that in August, 54,000 Americans saw their weekends extended indefinitely as employers cut jobs.