Stocks ended mixed Friday after a tough session and week, as a rally in the hard-hit financial sector countered amplified recession fears that were sparked by a weak labor market report.
The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported Friday.
The nation's unemployment rate hit a five-year high of 6.1% in August as employers slashed 84,000 jobs, proof of the mounting damage of a deeply troubled economy
August was another bad month for the job market. But many economists also are predicting job losses to continue deep into 2009 as well.
The number of newly-laid off workers seeking unemployment benefits jumped unexpectedly last week, the government said Thursday, reversing three weeks of declines.
The number of summer job cut anouncements reached its highest level since 2002, according to a report released Wednesday.
The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month
The number of newly laid-off workers seeking unemployment benefits fell more than expected last week, the second straight drop from a six-year high, according to government data released Thursday
The number of out-of-work Americans who signed up for jobless benefits fell for the second week in a row, coming in below economists' expectations.
Gannett Co. is eliminating 1,000 jobs, including 600 layoffs, across its newspaper operations, a company spokeswoman said Thursday.
Stocks ended mixed Friday after a tough session and week, as a rally in the hard-hit financial sector countered amplified recession fears that were sparked by a weak labor market report.
The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported Friday.
The nation's unemployment rate hit a five-year high of 6.1% in August as employers slashed 84,000 jobs, proof of the mounting damage of a deeply troubled economy
August was another bad month for the job market. But many economists also are predicting job losses to continue deep into 2009 as well.
The number of newly-laid off workers seeking unemployment benefits jumped unexpectedly last week, the government said Thursday, reversing three weeks of declines.
The number of summer job cut anouncements reached its highest level since 2002, according to a report released Wednesday.
The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month
The number of newly laid-off workers seeking unemployment benefits fell more than expected last week, the second straight drop from a six-year high, according to government data released Thursday
The number of out-of-work Americans who signed up for jobless benefits fell for the second week in a row, coming in below economists' expectations.
Gannett Co. is eliminating 1,000 jobs, including 600 layoffs, across its newspaper operations, a company spokeswoman said Thursday.
Oil prices are falling sharply, and that's good news. But not nearly as good as you might think.
The nation's employers continue to put jobs on the chopping block at a steep rate as the economy struggles, according to a new report.
Employers cut jobs in July for the seventh straight month, while the unemployment rate hit a four-year high, according to a government report released Friday.
The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs
The July jobs report is due out Friday, the same day that automakers report their U.S. sales for the month.
Employers trimmed jobs from their payrolls in June for the sixth straight month, as the government's closely watched report Thursday showed continued weakness in the labor market.
Economists are forecasting that the unemployment rate retreated slightly in June after May's big spike. But few believe that is a sign that the battered labor market is at or even near the bottom.
Today's troubles in the U.S. economy and labor market could very well turn out to be a lucky break for the next president, no matter who is elected.
The latest hit to the economy could come from state houses and city halls across the nation, which are in their worst budget crisis in years.
Newspaper publisher McClatchy Co. is slashing 1,400 jobs, or 10 percent of its work force, as part of an accelerating drive to cut costs as advertising revenues dwindle, the company announced Monday
Amid an ever worsening jobs picture, House lawmakers have approved a measure Thursday to extend unemployment benefits.
Unemployment is likely to continue to rise as companies cut more jobs, according to a new index from a respected business research group released Monday.
A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing and credit markets are leading the U.S. economy into a painful recession.
The government reports the nation's unemployment rate jumped to 5.5% in May -- the biggest monthly rise since 1986
The labor market was having enough trouble so far this year.
The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month
Too young to retire, too old to get a new job. That's how many older workers are feeling these days.
Some of the worst economic conditions in the country are where John McCain can least afford them - in electoral battleground states crucial to Republicans' chances of hanging onto the White House.
The number of newly laid off workers applying for unemployment benefits rose slightly last week, indicating the weak economy was still weighing on the job market.
As disappointing quarterly results come pouring in, companies trying to boost profitability are looking to cut costs in a tried-and-true way: cutting tens of thousands of jobs.
U.S. employers slashed jobs for the third straight month in March and unemployment rose to a nearly three-year high, offering the latest signs that the economy has fallen into a recession.
There's already been a wave of layoffs on Wall Street this year, and the Bear Stearns buyout could trigger another round of pink slips.
February was another bad month for jobs as two key employment reports showed more signs of labor weakness Wednesday.
Job cuts increased 69% in January from the previous month, as the U.S. economy continues to struggle amid a housing and credit slump, according to a survey released Monday by a consulting firm.
The labor market is expected to end 2007 with a whimper, but even that modest forecast could be seen as "the good old days," since monthly job losses may become common in the year ahead, according to economists.
Corporate profitability and the weak dollar in 2007 may have staved off job cuts in non-financial sectors, but big-name banks could announce more major layoffs this year, according to a report Thursday.
It's been a rough 2007 for Big Pharma workers. Crippled by mounting competition and slowing pipelines, the country's largest drugmakers have announced plans to shed a record number of jobs this year - more than 30,000 at last count - that are unlikely to ever return.
The big and unexpected job loss in August shook economists and investors, and while the September report due Friday is expected to show a hiring rebound, job seekers should still be nervous.
Bank of America Corp. will lay off about 2,500 employees in Illinois during the next two years as part of its planned $21 billion purchase of Chicago's LaSalle Bank Corp., a spokesman said.
In another sign of how dire the subprime mess has become, mortgage lenders shed about 18,000 jobs this month, according to one estimate.
Troubled mortgage lender Countrywide Financial Corp. has started laying off employees in an effort to cut costs as it faces a credit crunch, according to a report published Monday.
Job cuts have begun at Bear Stearns and that could mark the start of a broader wave of layoffs across Wall Street as firms survey the damage caused by the recent downturn in financial markets.
Planned U.S. lay-offs fell 23 percent in July to the lowest in 12 months, but cuts in the transportation and electronic industries were the most in more than a year, an independent report showed Wednesday.
Planned U.S. layoffs fell 23 percent in July to the lowest in 12 months, according to one survey released Wednesday, but a separate reading showed relatively modest gains in private sector employment in the month due to cutbacks in manufacturing and construction.
Planned U.S. layoffs fell 22 percent in June from May, as manufacturing showed the need for more workers than in the same month last year, an independent report showed Thursday.
Motorola said Thursday it expects to incur a net pretax charge of $101 million in the second quarter in connection with its previously announced work-force reductions.
The U.S. labor market showed increasing signs of weakness last month as the number planned job cuts topped 100,000 in September, according to a report released Tuesday.
Back-to-work season begins after Labor Day. But so, too, does a new season of job cuts.
Tech workers are back in hot demand, according to a report released Monday.
There was a time that layoffs took a holiday between Thanksgiving and New Year. Not any more.
Dear Armchair Millionaire: I work for a company that has been downsizing and laying off a lot of people. I'm afraid the ax could fall at any time. What steps should I take to see me through losing my job?
Ford Motor Co., whose North American automotive operations lost $1.21 billion in the second quarter, said Friday it is not ruling out deeper job cuts in its salaried work force to help return to sustained profits.
Job cuts jumped 35 percent in June, with the number of layoff announcements pushing the monthly total to its highest level since January of last year, an employment firm said Wednesday.
Planned job cuts soared in May after hitting a five-year low in April, but it's too early to worry about weakness in the economy, an employment firm said Thursday.
Employers announced the fewest layoffs in more than four years in April, according to a monthly survey of job cuts released Tuesday.
Job cuts in the tech sector hit their highest quarterly total since 2003, global outplacement firm Challenger, Gray & Christmas said Monday.
The March employment report may have disappointed economists and investors looking for more robust job growth, but another monthly survey shows layoff announcements fell by 20 percent in the month.
Layoff announcements bounced back above the 100,000 mark in February, according to a survey by job outplacement firm Challenger, Gray & Christmas, but hiring plans also accelerated.
Verizon Communications and MCI plan to cut about 7,000 jobs from their combined work forces as a result of the acquisition announced Monday.
Employers announced fewer layoffs in January than they had in the previous four months, according to a job placement firm that tracks the staff cuts.
Hit by rising health care and energy costs, employers announced more than 100,000 job cuts in November, capping the first three-month stretch above that level since early 2002, an outplacement firm said Tuesday.
Employers announced plans to cut more than 100,000 jobs again in October, capping the worst two months for layoffs since early 2003, an executive search and job placement firm said Tuesday.
Unemployment is a key issue in this year's election, particularly in battleground states like Ohio, where both candidates have addressed job loss in stump speeches.
As Wall Street eagerly awaits the report this Friday on job growth for the overall economy, things aren't looking good for the tech and telecom sectors.
The number of job cuts planned by U.S. employers jumped in September to the highest level in eight months while hiring announcements fell sharply, a job search firm said Tuesday.
When most people think of Fall, they think back-to-school and maybe about their Halloween plans, but they should be thinking about their jobs.
Employers increased both hiring and layoff plans in August, according to a survey released Tuesday by an outplacement firm.
The number of job cuts planned by U.S. employers rose in July, while hiring announcements fell for the second straight month, an outplacement firm said Tuesday.
Only a small portion of jobs lost in the first quarter were due to outsourcing of work overseas, according to a government report released Thursday that's already being scrutinized by Bush administration critics.
The number of job cuts planned by U.S. employers rose for the second straight month in May as firms announced plans to cut more than 73,000 jobs, an outplacement firm said Tuesday.
The number of planned job cuts jumped in April as U.S. employers announced plans to cut more than 72,000 jobs despite the general decline in corporate downsizing, outplacement firm Challenger, Gray and Christmas Inc. said Tuesday.
Last night, Kwame Jackson was the last contestant to be fired from NBC's hit reality show "The Apprentice," while Bill Rancic heard the magic words, "You're hired." Throughout the series, 15 ambitious jobseekers were told to "hit the street."
Downsizing in the technology sector slowed in the first quarter of 2004, with job cuts down 52 percent from the same quarter a year earlier, an outplacement consulting company said Thursday.
Job cuts planned by big corporations fell 12 percent last month from February, though businesses are still cautious about hiring, an outplacement firm reported Tuesday.
NEW YORK (CNN/Money) - Job cuts planned by big corporations fell 34 percent last month from January but businesses remain cautious about hiring, an outplacement firm reported Tuesday.
Businesses made more merger deals in February than any time since the bubble days of 2000, a tracking group said Tuesday -- good news for bankers and the economy in the long run, but bad news for workers in the short run.
U.S. job cut announcements surged in January, a typically bad month for job cuts, according to a report Tuesday by an outplacement firm.
Okay, so it's been a rough couple of years for jobs. But lots of companies still want to be good places to work--and 59 of the companies on our seventh annual list actually added to their payrolls ...
U.S. job-cut announcements dipped in December, according to a report Tuesday by an outplacement firm, adding another brush stroke to a mixed picture of the long-suffering labor market.
Rene Kim was no neophyte when it came to Wall Street layoffs. She had been through the wars at First Nationwide and Wells Fargo--more than once she had seen blizzards of pink slips dispensed and ar...
Recession. Terrorism. Layoffs. What wage earner or job seeker in this economy wouldn't want a return to "Morning in America"? Remember that? The year was 1984, and Ronald Reagan was running for ree...
If you've been eyeballing your seismograph lately, expecting to see the economic implosion of Houston, may we suggest you turn your attention elsewhere? Despite its reputation as a gaudy boomtown t...
At about 9 P.M. on Oct. 15, Cheryl Ways' office phone rang with a call from her husband: "What are you still doing there? Come home," he begged. Ways, a 30-year-old IT worker at tech giant Agilent ...
How we pick the 100 best
Plenty of dotcommers know the cycle. A website announces layoffs, the talent pool lands at another site, then that company goes belly up, leaving employees back on the street. Now with companies in...
Jeff Levy didn't see it coming. Business at TSI Communications, the Manhattan-based public relations agency where he worked as a communications specialist, was pretty good, thanks to IBM's $10 mill...
Nancy Harrison always thought of herself as a dedicated career woman. She had spent 16 years in financial operations at WorldCom, most recently as an executive in Atlanta supervising a staff of 200...
'Right now we're seeing a huge gap between what I call the emotional economy and the real economy. The emotional economy is people's perceptions and expectations, based on what they read in the new...
Scanning the Manhattan headquarters of Urban Box Office Network on a crisp Tuesday morning last November, Ayana Mangum felt a power similar to that possessed by the protagonist in the film The Sixt...
Every two years or so Silicon Valley, that world-famous factory of futures, has a new eternal verity. In 1997, as the first dot-com millionaires were crawling out from under their desks into the pa...
We've all read the headlines: A blue-chip manufacturer announces 53,000 layoffs worldwide. A leading financial institution plans to shed 8,000 jobs. A Big Three automaker cuts 1,200 positions at a ...
Negotiating for more generous severance pay and benefits when you leave your job is no longer Mission: Impossible. Just five years ago, before the latest wave of mergers and downsizing, severance p...
A few weeks before he was fired in August 1990, James O'Connor says, his boss told him that he was "too damn old" to travel around Virginia and the Carolinas overseeing the company's vending machin...
John Koepke, now 56, didn't want to leave his wife, Pat, home alone that horrible day in 1991. Just hours earlier she had been diagnosed with malignant breast cancer. But she insisted he go to the ...
WHOM DO YOU BELIEVE IN the heated job-security debate today? Politicians rail that corporate greed is sucking the workplace dry. Economists flip-flop weekly about whether good-paying jobs are being...
As the leaders of America's corporations closed the books on 1995, they could look back on a gratifying year. Their stocks boomed, with market indexes setting record after record. Income statements...
What can the science of economics tell us about corporate layoffs and job insecurity--the angst-ridden subject of this issue's cover stories? Wait a second before you snort, "Nothing!" and turn the...
The number of casualties is so big--more than three million layoffs announced by U.S. companies so far in this decade--that it tends to dissolve into abstraction after a time. But a question linger...
IN NEARLY 40 years, no person employed on a regular basis by IBM has lost as much as one hour of working time because of a layoff. When recessions come or there is a major product shift, some compa...
HERE'S A STOCK TIP: INVESTORS SHOULD STOP CHASING after companies that are saving money by laying off workers and start switching to firms that spend money training their employees.
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