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Key Dem Senator: Obama ‘snookered’ by GOP into talking deficit over jobs

WASHINGTON – Urging the administration to enact new measures to lower the unemployment rate, Sen. Tom Harkin (D-IA) said President Barack Obama got “snookered” by Republicans into prioritizing deficits over jobs. “I am concerned about the Obama administration’s approach on this,” Harkin, the chairman of the Health, Education, Labor and…

Just 54,000 jobs created in May as unemployment rises to 9.1%

WASHINGTON (Reuters) – Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan’s earthquake bogged down the economy. Nonfarm payrolls increased 54,000 last month, the Labor Department said…

Spaniards vote amid protests over mass unemployment

MADRID — Spaniards voted Sunday in local elections forecast to inflict a crushing defeat on the ruling Socialists as anger over mass unemployment boiled over into popular protests. Protesters, who blame politicians for bleak economic prospects and a jobless rate of more than 21 percent, remained camped in central Madrid’s…

Spanish protesters cheer for ‘world revolution’ as ban on demonstration takes effect

MADRID — Thousands of protesters in Madrid furious over soaring unemployment staged a silent protest and then erupted in cheers of joy as a 48-hour ban on their demonstration took effect on Saturday. “Now we are all illegal” and “the people united will never be defeated,” were among the chants…

244,000 jobs added in April, but unemployment rises to 9%

(Reuters) – U.S. employment increased more than expected in April as private companies created jobs at the fast pace in five years, pointing to underlying strength in the economy, even though the jobless rate rose to 9.0 percent. Nonfarm payrolls rose 244,000 last month, the most in 11 months, the…

Jobless claims jump to highest numbers in 8 months

WASHINGTON (Reuters) – New U.S. claims for unemployment aid unexpectedly rose last week to touch their highest level in eight months, pushed up by factors ranging from spring break layoffs to the introduction of an emergency benefits program, a government report showed on Thursday. Initial claims for state unemployment benefits…

US jobless claims jump to January high

WASHINGTON — New claims for US unemployment insurance benefits surged more than expected last week to the highest level since January, official data showed Thursday. The Labor Department reported initial jobless claims rose to a seasonally adjusted 429,000 in the week ending April 23. That was sharply higher than the…

Job center giving superhero capes to the unemployed

Florida’s unemployment agency director has asked for an investigation into a federally funded jobs agency that is giving 6,000 superhero capes to the jobless. Workforce Central Florida spent more than $14,000 on red capes as part of a media campaign to raise awareness of its services, the Orlando Sentinel reported.…

IMF urges US to address debt now

WASHINGTON – The International Monetary Fund on Monday urged the US to begin addressing its yawning budget deficit this year rather than putting off the pain and missing G20 fiscal targets. In its semi-annual measure of global economic health, the IMF said the US will likely grow more slowly than…

Saudi stocks soar on king’s spending spree

RIYADH – Saudi stocks rose sharply at the start of trading on Sunday, in the stock market’s first session since King Abdullah ordered unprecedented economic benefits worth around $100 billion. Tadawul All-Shares Index (TASI) gained 5.6 percent just minutes after trading opened. All 145 listed shares increased as well as…

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