CNBC's Jeff Cox explains how job growth over the past year continues to be strongest in lower-wage industries, where employment now exceeds pre-recession levels by 2.3 million.» Read More
Aug 15- Slackness in the labor market is keeping U.S. wages from rising, according to research published by the Chicago Federal Reserve Bank on Friday. So far, Fed Chair Janet Yellen has resisted that pressure, drawing in part on her view that low wage growth suggests the labor market is weaker than headline unemployment suggests.
CNBC's Sue Herera looks ahead to what are likely to be next week's top business and financial stories.
SACRAMENTO, Calif.— California's unemployment rate held steady at 7.4 percent in July, but two surveys used to calculate the rate showed different results, the California Employment Development Department reported Friday.
WETHERSFIELD, Conn.— Connecticut added jobs for a sixth straight month in July, dropping its unemployment rate to 6.6 percent, the state Department of Labor said Friday. It's the lowest unemployment rate recorded in Connecticut since December 2008 but still is higher than the U.S. rate of 6.2 percent.
AUSTIN, Texas— The Texas unemployment rate remained at 5.1 percent in July, holding steady for the third month in a row, the Texas Workforce Commission reported Friday. Employment growth in July across Texas included 46,600 seasonally adjusted nonfarm jobs, according to the TWC.
LAS VEGAS— Nevada's unemployment rate held at 7.7 percent in July compared with June, but it dropped compared with where it was a year earlier, state officials said Friday. The state Department of Employment, Training and Rehabilitation reported that Nevada's unemployment rate was down 2.2 percentage points from July 2013.
TALLAHASSEE, Fla.— Florida's unemployment rate remained unchanged in July amid signs that the state's economy continues a slow, but steady recovery from the depths of the Great Recession. Florida also lost 1,600 jobs in July after leading the nation in job growth the previous month. Rick Scott, who has made jobs a central part of his re-election campaign.
Andrew Lilico, executive director and principal at Europe Economics, says the characteristics of the U.K.'s labor market are a "mystery" to economists.
PROVIDENCE, R.I.— Rhode Island's unemployment rate fell slightly to 7.7 percent in July, down two-tenths of a percentage point from June, when it was tied with Mississippi as having the highest unemployment rate in the nation, according to new numbers released by the state Department of Labor and Training on Thursday.
New technology platforms work to connect freelance workers with jobs, reports CNBC's Julia Boorstin.
CHICAGO— Illinois unemployment fell in July to 6.8 percent, the fifth straight monthly decrease in the state's jobless rate and a six-year low, according to figures released Thursday by the state Department of Employment Security. Illinois state officials celebrated the news on Thursday, which Gov. Pat Quinn called a "momentous" day.
TRENTON, N.J.— New Jersey's unemployment rate edged down one-tenth of a percent in July to 6.5 percent, but still remains above the national average of 6.2 percent. The report released Thursday by the state Labor Department and based on data collected by the U.S. Bureau of Labor Statistics shows private sector employers added 8,500 jobs during the month.
Instead of volunteering and building their resumes to nab a spot at a top university, some high school grads are taking full-time jobs. The Fiscal Times reports.
NEW YORK, Aug 14- The dollar weakened broadly on Thursday, falling after three straight days of gains, on yet another piece of data suggesting a bumpy recovery for the U.S. economy.
BOSTON— The Massachusetts unemployment rate crept up to 5.6 percent last month even though the state added almost 14,000 new jobs. The Executive Office of Labor and Workforce Development announced Thursday that with July's job additions, the state has added more than 67,000 jobs since July 2013.
*Weekly jobless claims rise 21,000. WASHINGTON, Aug 14- The number of Americans filing new claims for unemployment benefits rose more than expected last week, but will probably do little to change views that the labor market was strengthening.
Weekly applications for unemployment aid climbed 21,000 to a seasonally adjusted 311,000, the Labor Department said Thursday. "Stepping back from the weekly volatility," said Jennifer Lee, senior economist at BMO Capital Markets, "the trend is still very encouraging and points to continued job growth."
WASHINGTON, Aug 14- The number of Americans filing new claims for unemployment benefits rose more than expected last week, but will probably do little to change views that the labor market was strengthening.
*Cisco shares down in premarket after results, outlook. NEW YORK, Aug 14- U.S. stock index futures edged higher on Thursday, with investors reluctant to make big bets following a sharp rally in the previous session and amid signs of weak conditions in Europe. *Cisco Systems Inc fell 1.3 percent to $24.87 in premarket trading.
WASHINGTON— The U.S. Labor Department reports on the number of people who applied for unemployment benefits last week. BETTER JOBS PICTURE: Employers in June advertised the most monthly job openings in more than 13 years, the Labor Department reported Tuesday.