San José, CA – On Thursday, February 27, the Department of Labor reported that new claims for unemployment insurance jumped by 22,000, or 10% in the week ending February 22. New claims for UI have risen substantially in the first weeks of the new Trump administration. The total increase in new claims has been 34,000 or 15%.

San José, CA – On Friday, December 6, the U.S. Department of Labor reported that the survey of households showed that the unemployment rate for November 2024 increased to 4.2%, from 4.1% in October. This continued the trend of higher unemployment since bottoming out in April of 2023 at 3.4%.

San José, CA – On Wednesday, August 21, the U.S. Department of Labor released an initial estimate reducing the number of net new jobs created from April 2023 to March 2024 by 818,000, or about 28%. This is the biggest adjustment since 2009, the year after the Great Financial Crisis. The adjustment was about five times as big as previous years’ adjustments.

San José, CA – Average weekly earnings, adjusted for inflation, fell in July despite a drop in inflation. While average hourly wages outpaced inflation by one-tenth of one percent, or 0.1% ,in July, the average work week fell by three-tenths of one percent, or 0.3%. This meant the average weekly real earnings, which takes into account wage increases, inflation and the average number of hours worked, actually fell by two-tenths of one percent, 0.2%.

San José, CA – The decline in U.S. stock prices accelerated on Monday, August 5, with the broadest measure of large corporate stocks, the S&P 500, falling more than 160 points or 3%. Fears of a recession contributed to declines in stock prices around the world.

San José, CA – The latest jobs report released Friday, August 2, triggered new fears of a recession as the official unemployment rate rose to 4.3%. This pushes the three-month average unemployment rate up by more than one-half of one percent from its recent low. An increase of this size has been associated with a recession for the last 50 years.

San José, CA – On Thursday, July 18, the weekly report on unemployment insurance showed 243,000 new claims for the week ending July 13. This was 20,000 higher than the previous week.

San José, CA – On Friday, July 5, the Department of Labor released its monthly employment report for the month of June. While mainstream news sources such as the Associated Press described the labor market as “healthy” the report was riddled with warning signs of a weaker jobs market.

San José, CA – The February 2024 employment report released by the Department of Labor on Friday, March 8 continued to show signs of weakness. While total job creation seemed healthy, with 275,000 net new jobs reported by the survey of employers, there were significant downsides to the overall report.

San José, CA – The January 2024 jobs report was labeled “Blockbuster” by the New York Times, “Hot” by the Wall Street Journal, and “Shockingly Strong” by the Washington Post. Yet the headlines of three of the national newspapers failed to capture the weaker side of the report.

San José, CA – On Tuesday, September 12, the U.S. Census Bureau reported on income, poverty and health insurance coverage in 2022. The report on poverty was dire, with the poverty rate as measured by the Supplemental Poverty Measure, or SPM, jumping almost 60% between 2021 and 2022.

Continuing claims hits highest number since November 2021

San José, CA – On Thursday, July 21, the U.S. Department of Labor reported that the number of people collecting unemployment insurance benefits, increased by 51,000 for the week ending July 16. This brought the total number to 1,384,000, the highest since November 2021. New claims for unemployment insurance increased to 251,000, also the highest since November. The increase was only 7000 over the week before, but most economists had expected the number of new claims to fall.

San José, CA – On Thursday, January 20, the U.S. Department of Labor reported that the number of new claims for unemployment insurance rose for the second week in row, to more than 280,000 for the week of January 10-15. This is up almost 40% from the beginning of January. While much of this may be caused by the spike in COVID-19, there have been other signs of economic weakness that started to show up in December.

On Thursday, January 20, the U.S. Department of Labor reported that the number of new claims for unemployment insurance rose for the second week in row, to more than 280,000 for the week of January 10-15. This is up almost 40% from the beginning of January. While much of this may be caused by the spike in COVID-19, there have been other signs of economic weakness that started to show up in December.

Total number collecting unemployment on the rise again

San José, CA – During the week ending February 6, almost 800,000 (793,000) people filed for new claims for regular state unemployment insurance. More than 330,000 others applied for the federal Pandemic Unemployment Assistance or PUA that covers the self-employed and gig workers. This comes to a total of more than 1.1 million people who have lost their jobs in the past week.

Retail sales fall for third month in row

San José, CA – The U.S. economy showed more signs of weakness as the COVID-19 pandemic rages and Trump’s “Operation Warp Speed” vaccine rollout crashes and burns amid finger-pointing, lies and incompetence. New claims for regular state unemployment rose by more than 20% in the week ending January 9, the biggest gain since the dark days of March when the economy hit a brick wall.

San José, CA – on Friday, January 8 the U.S. Department of Labor released its monthly report on the state of the job market. While mainstream economists expected economic growth to continue to slow with only 50,000 new jobs, down from a gain of 330,000 jobs in November, the reality was much worse. In December, 140,000 jobs were lost, the first month of losses since the dark days of April. The year ended with 9.8 million fewer jobs than before the recession began, a record high going back to 1939, and almost twice as bad as the previous recession year of 2009. President Trump became the first president since Republican Herbert Hoover set to leave office with a net job loss.

San José, CA – On Thursday, December 10, the U.S. Department of Labor reported that new claims for regular state unemployment went up by 137,000, or 19.1% for the week ending December 5. This is the biggest increase in applications for unemployment since the first week of April. In addition, new claims for the federal Pandemic Unemployment Assistance or PUA also increased by almost 140,000. The total of almost 280,000 applications by jobless Americans in a week was the second largest jump during the entire recession, raising the danger of a ‘double-dip’ recession, where the economy goes downhill a second time.

San José, CA – On Thursday, October 22, the U.S. Department of Labor reported that there were 787,000 new claims for regular state unemployment in the week that ended October 17. This was 55,000 fewer than the previous week, but still 20,000 higher than two weeks ago and almost four times as high as the same week a year ago. While new claims have fallen dramatically from the record high of almost 6 million in April, they are still higher than the pre-recession high of less than 700,000.

San José, CA – In March and April of this year, more than 20 million jobs were lost because of the economic crisis, COVID-19 pandemic and stay-at-home orders to fight the virus. Millions more who were working gig jobs or had their own businesses lost their livelihood. At the time when the government count was done in mid-July, more than 30 million people – almost 20% of the workforce – were collecting some form of unemployment insurance benefits.