Washington (CNN) – The council of economists, executives and labor leaders created to advise President Barack Obama on spurring job creation will officially cease to exist this week, the White House announced Thursday.
The Council on Jobs and Competitiveness was created in January 2011 by executive order, and its charter mandated that it would expire after two years. A White House official said Thursday that the council's charter would not be renewed.
New York (CNNMoney) - The job market ended 2012 with more growth, as moderate hiring continued at the end of the year.
The economy added 155,000 jobs in December, bringing the total number of jobs added in 2012 to 1.84 million, the Labor Department said Friday. The unemployment rate was unchanged at 7.8%.FULL STORY
New York (CNNMoney) – Employers may be hiring, but there's another big problem with the job market that isn't being tracked as closely: the hopelessly unemployed.
An often overlooked number calculated by the Labor Department shows millions of Americans want a job but haven't searched for one in at least a year. They've simply given up hope.FULL STORY
New York (CNNMoney) - The number of newly unemployed seeking jobless benefits fell more sharply than expected last week, according to the government's latest reading on the state of the labor market.
There were 350,000 filing for initial jobless claims in the week, down from the 362,000 who sought assistance a week earlier. Economists surveyed by Briefing.com had forecast 375,000 would be seeking help last week.FULL STORY
New York (CNNMoney) - First-time claims for unemployment benefits fell last week, and are now back to pre-hurricane levels.
About 343,000 people filed initial jobless claims last week, 29,000 fewer than those who sought help in the previous week, the Labor Department reported Thursday.FULL STORY
(CNN) - CNN's John King and Candy Crowley look at the political implications of Friday's jobs report, including whether it will incentivize lawmakers to make progress on a deal to avert the fiscal cliff.
New York (CNNMoney) – Of all the fiscal cliff issues, there's one that scares small businesses most of all: The end of the payroll tax holiday.
The tax comes from worker paychecks and funds Social Security. For the past two years, workers have been paying a rate of 4.2%. In 2013, the rate is set to rise back to 6.2% on the first $113,700 in wages.FULL STORY
(CNN) – Friday's jobs report, which showed unemployment falling to its lowest point since 2008, was still indication that President Barack Obama's economic policies were failing, according to Republican National Committee chairman Reince Priebus.
"While a downtick in the unemployment rate is welcome news, too many families are still falling behind and unemployment remains painfully high," Priebus said in a statement sent an hour after the jobs report was released. During the presidential race, Republican reaction to negative jobs reports was almost instantaneous.
(CNN) - Modest hiring continued in November and the unemployment rate fell to its lowest level in nearly four years, according to a report released Friday.
The U.S. economy added 146,000 jobs in November, and the unemployment rate fell to 7.7% from 7.9% in October, the Labor Department said. That's the lowest unemployment rate since December 2008.FULL STORY