Tag: Labor Department

December 21, 2022

It may be coincidence, or perhaps mortgage cases habitually get the short end of the news-coverage stick. Wells Fargo’s September agreement to pay $94 million to settle a class-action lawsuit — alleging the bank automatically placed mortgage borrowers into forbearance […]

December 2, 2022

The Labor Department’s Bureau of Labor Statistics said the economy added 263,000 jobs in November, higher than the anticipated 200,000; and the unemployment rate held steady at 3.7 percent. But there are troubling trends in Friday’s employment report: Despite the […]

September 12, 2022

Wells Fargo neither admitted nor denied the Labor Department’s allegations, and noted that the transactions in question stopped in 2018. “The Company strongly disagrees with the DOL’s allegations and believes it followed applicable laws in conducting the transactions,” the bank […]

April 2, 2021

As more cities and states reopen, the number of jobs created and the number of employed Americans continues to substantially increase. In March, according to the Bureau of Labor Statistics, the economy added a whopping 916,000 jobs, compared with +468,000 […]

February 25, 2021

Jobless claims fell sharply last week despite severe winter storms that swept across Texas and other parts of the South, the Labor Department reported Thursday. First-time filings for unemployment insurance totaled 730,000 for the week ended Feb. 20, well below […]

November 11, 2020

JPMorgan is not the only big U.S. bank to settle with the OFCCP this year. Wells Fargo agreed in August to make job offers to 580 applicants and pay $7.8 million in back wages and interest to settle allegations of […]

November 6, 2020

October marked the sixth straight month of post-pandemic employment gains, as the economy added 638,000 jobs and the nation’s unemployment rate dropped to 6.9 percent, a point below September’s 7.9 percent and far lower than the record-shattering, COVID-induced 14.7 percent […]

October 2, 2020

The US economy saw another 661,000 jobs added back in September and a modest improvement in the unemployment rate, as the recovery in the labor market continues as a stagnating rate. The Labor Department released its September jobs report Friday […]

September 10, 2020

U.S. stock benchmarks early Thursday were trading firmly higher, but off their best levels, as investors found reasons to buy assets after a round of economic reports and a policy update from the European Central Bank. Technology shares turned higher […]

July 30, 2020

The number of Americans applying for jobless benefits rose for the second straight week, a sign economic growth could be stalling in late July. Claims had been on a steady decline after peaking in late March. Initial jobless claims rose […]

July 23, 2020

The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic inflicted more damage to the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for […]

June 12, 2020

U.S. import prices increased by the most in more than a year in May, driven by higher costs for petroleum products and food, which could further diminish fears of deflation as the economy battles a recession. The Labor Department said […]

May 14, 2020

New filings for unemployment claims totaled just shy of 3 million for the most recent reporting period, a number that while still high declined for the sixth straight week, according to Labor Department figures Thursday. The total 2.981 million new […]

April 23, 2020

It took only five weeks for the U.S. economy to wipe out all the job gains it added over the last 11 years. Coronavirus-induced business closures throughout the U.S. have fueled the number of Americans applying for state unemployment benefits. […]

March 6, 2020

Nonfarm payrolls grew far more than expected in February as companies continued to hire leading into a growing coronavirus scare. The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate […]

October 4, 2019

U.S. stocks rose at the start of trade Friday, reversing losses in premarket trade, after the Labor Department estimated that the American economy added 136,000 jobs in August, enough to let the unemployment rate to fall to a 50-year low […]

September 6, 2019

U.S. job growth likely slowed further in August, but the pace of gains probably remains sufficient to keep the economy expanding moderately amid rising threats from trade tensions and weakness overseas that have left financial markets fearing a recession. The […]

July 3, 2019

The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to sustained labor market strength that should help support a slowing economy. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted […]

June 6, 2019

As indicators mount that the U.S. economy might be slowing, a key report due Friday will provide the first major glimpse of whether the labor market remained on sound footing in May — and if inflation might be starting to […]

December 7, 2018

The U.S. saw declining jobs growth last month, keeping the unemployment rate at a half-century low even amid signs that the economy might be slowing down. A report from the Labor Department on Friday showed that nonfarm payrolls rose by […]