unemployment

Japan Unemployment Rate Rises as Noda Becomes Prime Minister

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Aug. 30 (Bloomberg) — Japan’s jobless rate rose for a second month and retail sales dropped, underscoring the challenge for incoming Prime Minister Yoshihiko Noda in securing Japan’s recovery from the March 11 earthquake. The unemployment rate rose to 4.7 percent in July as payrolls fell by 40,000 from a month earlier, the statistics bureau said today in Tokyo. Retail sales slid a seasonally adjusted 0.3 percent from June, a Trade Ministry report showed. Noda, who was elected premier by the lower house of parliament today, inherits a recovery under threat from an advancing yen and a global slowdown. A … Read more

US stocks rise after unemployment report

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NEW YORK (AP) — Stocks are rising after news that fewer people joined the unemployment line last week and word that a technology bellwether’s profit beat expectations. The Dow Jones industrial average is up 256 points, or 2.4 percent, at 10,972 at 11:45 a.m. in New York. The S&P 500 is up 30, or 2.8 percent, at 1,151. The Nasdaq is up 73, or 3.1 percent, at 2,454. For the first time in four months, the number of people filing for unemployment benefits for the first time fell below 400,000 last week. Analysts say it may be a sign that … Read more