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Congress failed to extend the unemployment benefit program that was introduced during the recession for millions of Americans las week.ast week. Usually, Federal benefits kick in after state benefits run out, and often range between 14 to 47 weeks, depending on the state where a person lives. According to government figures, the average weekly benefit check is $300. Even the cut from the larger state check to the federal benefits has been hard for some who lost their well paying jobs as the...
The Labor Department reported on Friday the U.S. economy gained280,000jobs in May, a good sign for job seekers. A survey of economists had projected there would only be 222,000 jobs gains. The unemployment rate ticked up slightly in May to 5.5%, according to the Labor Department. That increase is likely a sign that more people returned to the work force. May's jobs report is welcome news after the winter slowdown. The economy actually contracted in the first three months of this year, raising...
The automation of work has been considered as one of the major causes of unemployment (structural). Nowadays automation jobs are more common as  jobs are increasingly being automated and as a result, more and more people will subsequently lose their jobs. Today, most headlines often talk about innovations in artificial intelligence (AI) — in machine perception, robotics and advanced automation. A majority of people see this rapid advancement in technological developments as a...
The American economy added 215,000 jobs in July. Before the report, economists on Wall Street predicted a gain of 225,000 jobs, with no change in the unemployment rate. Anything above 200,000 is considered very solid. The unemployment rate now at its lowest point since April 2008 stayed the same at 5.3%, according to the Labor Department. This is considered near full employment."Job growth is quite strong," says Jim O'Sullivan, chief economist at High Frequency Economics, a research firm...
Twitter says it plans to layoff 336 staff members and that accounts for 8% of the company's employees under its new CEO Jack Dorsey. The pending layoffs got many wondering if the tech company will stick to form and issue layoff letters in 140 characters. The cuts will come mostly from the product and engineering teams.  Twitter said these cuts are necessary in order to focus on the company's top product priorities and become more efficient. In an email to employees with the subject...
The persistent plunge in oil prices has translated into a new round of industry job cuts.The British oil giant BP is cutting some 4,000 of the approximately 24,000 jobs in exploration and production over the next two years amid sharp drops in the price of crude. That would be in addition to about 4,000 jobs that the company cut last year, when it trimmed its work force to about 80,000.The cuts in BP's upstream business globally will include the loss of some 600 jobs in the North Sea....
How would it feel to be fired in front of 1000 co-workers at a conference call?   An AOL employee got axed from his work in the most public way, as he apparently tried to take a picture of the boss during a conference call. CEO of AOL Tim Armstrong was having a conference call about the future of Patch, the hyperlocal websites he founded(Patch is yet to gain any maintream traction), when he noticed Creative Director Abel Lenz of Patch using his camera. "Abel - put the...
New figures on employment Friday offered hope for that elusive common ground in the economy, the Federal Reserve is fighting with the time to relieve its recovery efforts without endangering the recovery and markets. The pace of job creation in June was enough to please investors and keep the Central Bank on track to start slowly pulling on his major bond purchase program this fall. But the job gains were sufficiently muted to calm fears of a sudden release of the Fed, a fear that has...
The US economy added a net of 195,000 new jobs in June, official figures show. The figure was well above the expectations of economists 165,000. Revisions to the data for April and may have added 70,000 jobs in previous estimates. The unemployment rate remained stable at 7.6% of the active population, according to data from the Bureau of Labor Statistics. The dollar and U.S. bond yields jumped as market expectations have increased interest rates will start rising in a year. The...
Most of the people go for the Fullerton personal loan. Want to know why? Let’s find it out together. Fullerton personal loan is a multipurpose loan, as it can be used for buying a house, to fund an unplanned trip or paying for an education or any other reason. As the collateral-free personal loan is always a better and safer option for an applicant. Fullerton personal loan offers repayment tenure, which starts from 1year to 5 years. A borrower can also take advantage of prepayment or part...
The current repo rate stands at 5.15%, which had been recently slashed down from 5.75% by the RBI. It is expected that this decision is set to influence the overall economy positively and is all set to impact borrowers significantly. Regardless, to understand its repercussions on credit facility and the economy in general, one must learn about the vital aspects of repo rate in details. What is the repo rate? In a general sense, it is the rate at which Indian commercial financial...
The U.S. economy is showing signs of improvement, according to the international monetary Fund (IMF). However, the IMF said that the recovery from the recession has been "lukewarm." In its regular assessment of the economy, the IMF said that the United States still faces "strong headwinds". But he noted gains on the stock market and housing prices, and predicted that the economic growth should progressively to accelerate over the next year. The IMF has said the expiration of the...
A new plan by president Barack Obama that would amend the corporate tax Code, while investing in job creation is a 'serious' than any legislator case could sign on, the president argued in Tennessee Tuesday. What Obama called a "grand bargain" is proposed to break the partisan impasse currently raging attempts to adopt a major Washington law, although the Congressional Republicans reported Tuesday that they were unlikely to support the plan, the president announced to the Amazon. com in...
The US economy created 162,000 jobs, marking the slowest month of hiring since March, the Ministry of labour said Friday. Economists surveyed had predicted employers would add 180,000 jobs in July. Stock futures fell slightly after the report. The report was disheartening in many ways. While the unemployment rate fell slightly to 7.4%, the decline was in part because 37,000 people came out of the labour market. Only about 63% of Americans over 16 years participate in the labour market -...
China launched its first lunar probe on Monday morning, which, if all goes well, will make it the third nation - after the United States and the Soviet Union - to make a soft landing on the moon. The launch of the probe took place at 01:30am Monday (12:30pm ET on Sunday), State-run Xinhua News Agency reported. Chang'e-3 blasted off from a Long March 3B rocket in Sichuan province, located southwest of China and should land on the surface of the Moon in mid December. The new effort to...


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