Unemployment of Workers Ages 55+ Edges Up in June Despite Strong Jobs Growth

Employment overview The economy added 222,000 jobs last month, up from 152,000 (revised) in May according to the June Employment Situation Report from the Bureau of Labor Statistics.  Though the number of jobs increased, more people, such as previously discouraged workers or new graduates, joined the labor force, edging the unemployment rate up slightly to 4.4. percent.  Meanwhile, the unemployment rate for those ages 55 and older was 3.2 percent with 1.2 million of the 55+ unemployed.  The labor force …

Economy Adds Jobs in January

Employment Overview January 2017 saw job gains of 227,000, up from 157,000 in December. Leading industries for job growth were retail trade, construction and financial. In addition, average hourly earnings by employees on private payrolls increased by 3 cents an hour to $26. The monthly Employment Situation Report from the Bureau of Labor Statistics gives a broad picture of the current state of the job market. Despite job gains, the unemployment rate ticked up to 4.8 percent. The number of …

Millennials Continue to Struggle for Success

Part of the promise of the American Dream is that each generation will do better than the last. Has that happened with our adult children, the millennials? Well, “yes and no,” reports the U.S. Census Bureau. Our children are better educated as a generation, yet more are living in poverty and they have lower rates of employment.  “Young Adults, Then and Now,” released last week by the Census Bureau, examines the nation’s current 73 million young adults, 18 to 34 …

Holiday Hiring Season Should Be Jolly

If you’re looking for work this holiday season, there’s reason to be ho-ho-hopeful. Employers are expected to hire more than 800,000 seasonal workers as the economy continues to improve and consumer spending picks up, according to an annual holiday hiring forecast. John A. Challenger, CEO of the outplacement consultancy Challenger, Gray & Christmas in Chicago, which issued the forecast, says the hiring spree will take place in October, November and December. If his projections are correct, it would be the first …

11 Things We Didn’t Know Last Week

News, discoveries and … fun 1. A cobra can bite and kill someone even 20 minutes after its head is severed. (Learn more at Daily Mirror) 2. Celebrity deaths do not generally come in threes. (Learn more at NY Times) 3. How rare is a blue lobster? One in 2 million. (Learn more at Associated Press) >> 12 Foods Sabotaging Your Sleeep 4. With the national unemployment rate at 6.2 percent in July, 20 U.S. cities are under 4 percent. …

Improving Economy? Not for the Long-Term Unemployed

What’s the outlook for people out of work for at least six months? Longer unemployment. Three Princeton University economists examined the status of people who reported they were unemployed for 27 weeks or more between 2008 and 2012 – and then revisited them 15 months later. Only 11 percent had found steady full-time work one year later while 30 percent were still looking. As many as 35 percent had dropped out of the labor force altogether. Another 24 percent were in …