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Job Cuts Surge In January, Up 47 Percent From Previous Month

CHICAGO (UPI) — Job cuts announced by U.S. employers jumped 47 percent in January from December’s 13-year low, a private outplacement firm said Thursday. Layoff announcements jumped from 30,623 in December to 45,107 in January with the retail sector leading the pack in the month after the holiday season, Challenger, Gray & Christmas reported. Poor […]

Labor Costs Off The Farm Dropped 1.6 Percent In Fourth Quarter

WASHINGTON (UPI) — Labor costs dropped 1.6 percent in the fourth quarter as gains in productivity outpaced gains in compensation, the U.S. Department of Labor said Thursday. Productivity, defined as output per hour, rose at an annual rate of 3.2 percent in the quarter, the Bureau of Labor Statistics reported. Economists had predicted a gain […]

Initial Unemployment Benefit Claims Drop By 20,000

WASHINGTON (UPI) — First-time unemployment benefits claims dropped sharply in the week that ended Saturday, the U.S. Bureau of Labor Statistics said Thursday. First-time claims fell by 20,000 to 331,000. Last week’s total was revised from 348,000 to 351,000. In the current week, the four-week rolling average of first-time jobless claims rose by 250 to […]

Study Finds Self-Employment, Rocked By Recession, Has Yet To Recover

CHICAGO (UPI) — The number of U.S. workers considering themselves self-employed dropped sharply during the recession and has not recovered, a study released Thursday said. The study conducted by CareerBuilder and Economic Modeling Specialists International found that the recession, which ended in June 2009, set self-employment back by 936,000 jobs. In 2013, there were 10 […]

U.S. Service Firms Start Year With Solid Growth

NEW YORK (UPI) — The U.S. service sector output posted the sharpest gain in four months in January, Markit Economics reported Wednesday. Markit said the Purchasing Managers Index for non-manufacturing businesses indicated a “robust expansion … despite slower rise in new work,” in the month. The index, which shows expansion above 50, rose from December’s […]

Mortgage Activity Rose Marginally In The Week

WASHINGTON (UPI) — U.S. mortgage activity rose marginally in the week that ended Friday, the Mortgage Bankers Association said Wednesday. The MBA said mortgage activity rose 0.4 percent, while refinancing increased by a relatively mild 3 percent in the week. Refinancing held steady at 62 percent of all mortgage activity. Averages of interest rates for […]

ADP: Private Sector Gained 175,000 Jobs In January

ROSELAND, N.J. (UPI) — U.S. private-sector employment rose by 175,000 in January, just shy of the 180,000 that economists had forecast, Automatic Data Processing said Wednesday. ADP said 12,000 manufacturing jobs were added to the economy in January. The construction sector added 25,000. The financial sector was flat in the month, the firm said. January’s […]

Factory Orders Slipped Slightly In December

WASHINGTON (UPI) — Fresh orders at U.S. factories were down 1.5 percent in December after increasing 1.5 percent in November, the Department of Commerce said Tuesday. Factory orders for U.S. manufactured goods dropped by $7.2 billion in the month to $489.2 billion. Excluding transportation orders, fresh business for factories rose 0.2 percent, with orders for […]

Crude Oil Heads Lower With Weak Economic Data

NEW YORK, Feb. 3 (UPI) — Crude oil slid under $97 per barrel Monday on the New York Mercantile Exchange — oil following equities, which stumbled hard Monday. The purchasing managers’ index in China slipped to 50.5, officials said.The figure shows marginal growth, which is indicated by numbers above 50. It is also the lowest […]

Stocks Tumble Monday

NEW YORK, Feb. 3 (UPI) — U.S. stocks plunged Monday with major boards down at least 2 percent on Wall Street as some investors went for profits and economic data looked weak. Autodata said vehicle sales plunged in January after a mostly positive 2013, part of the drop attributed to freezing weather that kept shoppers […]

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