Unemployment, Economic Crisis | featured news

Most economists in the Journal's forecasting survey said the U.S. doesn't need another round of stimulus, despite expectations of severe job losses.

As jobless rate climbs, White House scrambles to reassure public Obama's plan is on right track.

Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter.

In June, 467,000 jobs are lost; analysts had predicted 350,000. Despite positive signs for the economy in recent weeks, the report is evidence that the jobs market remains troubled.

The Obama administration's fiscal stimulus plan will meet previous estimates to save 3.5 million U.S. jobs by the end of 2010, but the unemployment rate at that time may be higher due to further deterioration in the economy, a senior administration official said on Monday.

The economy lost 539,000 jobs in April, the government reported on Friday, a sign that the relentless pace of job losses was starting to level off.

ADP report indicates loss of 742,000 private-sector jobs, well ahead of expectations.

The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.

The nation's unemployment rate rose to 8.1% in February, the Labor Department reported this morning, adding another grim indicator to an economic picture already darkened this week. The jobless rate stood at its highest point since 1983.

Rising unemployment in Europe and the U.S. invites instability.