Page 4 - Eric Morath News Today

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Provided by Dow Jones By Sarah Chaney Cambon and Gwynn Guilford U.S. employers added a modest 266,000 jobs in April, far short of the 1 million expected among economists, and unemployment rose to 6.1%. The slowdown in hiring signaled a potential slowdown in economic momentum, at least temporarily, as some businesses struggled to find workers and faced supply-chain issues. The deceleration came after payrolls rose a downwardly revised 770,000 in March and an ...

Provided by Dow Jones By Eric Morath Jobless claims fell again to the lowest level since the pandemic took hold more than a year ago, another sign the labor market is rebounding this spring. Initial unemployment claims, a proxy for layoffs, fell by 13,000 last week to a seasonally adjusted 553,000, the Labor Department said on Thursday. The previous weeks figure was revised up to 566,000. The latest reading marked the third straight week jobless claims were below ...

Provided by Dow Jones By Josh Mitchell A burst of growth put the U.S. economy just a shave below its pre-pandemic size in the first quarter, extending what is shaping up to be a rapid, consumer-driven recovery this year. Gross domestic product, the broadest measure of goods and services made in the U.S., grew at a 6.4% seasonally adjusted annual rate in January through March, the Commerce Department said Thursday. That left the worlds largest economy within 1% of ...

Provided by Dow Jones By Danny Dougherty and Eric Morath Hiring increased in 49 states across the country in March, with large states such as California, Texas and New York adding the most jobs. California added 119,600 last month, Texas added 99,000 and New York employment rose 63,700, the Labor Department said Friday. Alaska was the only state to shed jobs, losing about 200. Still, labor-market performance is uneven across the states, as some dealt with increase...

Provided by Dow Jones By Danny Dougherty and Eric Morath Hiring increased in 49 states across the country in March, with large states such as California, Texas and New York adding the most jobs. Employers in leisure and hospitality, including at restaurants, hotels and entertainment venues, accelerated hiring across the U.S. That allowed some of the hardest-hit states, such as Hawaii, to see strong job growth last month. "Better health conditions and expandi...

By Eric Morath and Hannah Lang The U.S. economy is set up for a stronger recovery this spring after a February surge in hiring at restaurants and other hospitality businesses created the best...

Provided by Dow Jones By Eric Morath and Hannah Lang Hiring accelerated in February as restaurants and other hospitality businesses reopened and coronavirus cases eased, setting up the U.S. economy for broader growth this spring. U.S. employers added 379,000 jobs in February -- the largest monthly increase since October -- and January gains were revised higher to 166,000 jobs, the Labor Department said Friday. The hiring thaw comes after job growth froze earlier i...

Provided by Dow Jones By Kristina Peterson, Richard Rubin and Eric Morath WASHINGTON -- Senate Democrats began preparing a backup plan Friday for raising the minimum wage at some large companies as part of their coronavirus relief package, after the chambers parliamentarian ruled out including a broader increase. Backed by Senate Majority Leader Chuck Schumer (D., N.Y.), two committee chairmen are working on a new, more limited proposal that would use the tax syst...

Provided by Dow Jones By Eric Morath The number of workers seeking unemployment benefits fell sharply last week, adding to signs that the job market could be stabilizing after layoffs edged higher earlier in the winter. Initial weekly unemployment claims decreased by 111,000 to a seasonally adjusted 730,000 last week, the Labor Department said Thursday. It was the lowest weekly level of new applications to regular state programs since late November and the biggest...