Long-term unemployment tumbles in January
The share of workers unemployed for more than six months fell significantly from December, on the back of an unexpectedly strong January jobs report.
The share of workers unemployed for more than six months fell significantly from December, on the back of an unexpectedly strong January jobs report.
The Black unemployment rate dipped to 6.9% in January from 7.1%.
Nonfarm payrolls were expected to increase 150,000 in January, according to economists surveyed by Dow Jones.
The U.S. added over 450,000 jobs last month amid strong demand for workers at restaurants, retailers and mail and parcel delivery companies.
Senate Republicans on Thursday peppered Sarah Bloom Raskin with questions over whether she would steer the institution into climate change.
Initial filings for unemployment claims totaled a bit fewer than expected last week as companies looked to overcome the impact of the omicron spread.
Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago.
The International Monetary Fund has downgraded its global growth forecast for 2022 as rising Covid cases, supply chain disruptions and inflation hamper the economy.
Goldman economist David Mericle said the omicron spread is aggravating price increases and could push the Fed into a faster pace of rate hikes.