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October 25, 2012

CHICAGO — Unemployment rate dropped to 7.8% in September, the lowest since January 2009

CHICAGO — STUNNING FORECASTERS, the unemployment rate dropped to 7.8% in September, the lowest rate since January 2009.

“Our nation's labor market added 114,000 non-farm payroll jobs in September,” Secretary of Labor Hilda L. Solis said in a statement. “Additionally, 86,000 more Americans found jobs in July and August than had been previously reported.”

SHOWING MODEST ECONOMIC GROWTH, the 12 Federal Reserve Districts of the Federal Reserve Bank reported consumer spending was generally good for the October report. Only the New York, Chicago and Kansas City districts reported flat or soft sales. Existing home sales were stronger in most districts, with prices steady or increasing, and overall loan activity was steady to stronger in most districts.

July 31, 2012

CHICAGO — Most indicators show economic downturn in second quarter

CHICAGO — WHILE A POSITIVE SPIN came from Secretary of Labor Hilda Solis in July regarding the current state of the U.S. labor market, others were considerably more pessimistic.

In a statement, Solis says, “Our nation’s labor market added 80,000 jobs in the month of June, while the unemployment rate remained unchanged at 8.2%. We have seen 28 straight months of private-sector job growth, during which time our economy has added back close to 4.4 million private-sector jobs, with nearly one million jobs added this year.”

For the other side, Kathy Bostjancic, director of macroeconomic analysis with The Conference Board, a global, independent business membership and research association, comments, “The slow labor market improvement … once again confirms that the better payroll increases in the beginning of the year were another false start. The pullback marks the third straight disappointing year.”

May 16, 2012

CHICAGO — While the unemployment rate went down slightly, job growth slowed noticeably

WHILE JOB GROWTH SLOWED for the month of March, with the market adding only 121,000 private-sector jobs, the unemployment rate fell to 8.2%, according to the U.S. Department of Labor.

“We’ve added nearly half a million manufacturing jobs since February 2010,” says Secretary of Labor Hilda L. Solis. “We cannot rest on our laurels and expect to coast our way back to prosperity.”

The figures from the Bureau of Labor Statistics show little change from January to February, with 3.6 million job openings, a hires rate of 3.3% and a separations rate of 3.1%. Compared with the 4.3 million job openings when the recession began in December 2007, the current rate has increased 46% since the end of the recession in June 2009.

April 12, 2012

CHICAGO — Mid-March found the stock market posting its best day of the year

CHICAGO — MID-MARCH FOUND THE STOCK MARKET posting its best day of the year, with the Dow Jones closing at its highest level since 2007 and the Nasdaq composite closing above 3,000 for the first time since December 2000.

While the unemployment rate held steady at 8.3%—a three-year low—the number of private-sector jobs continued to increase. With a jump of 233,000 jobs in February, more than 3.9 million jobs have been added to the U.S. workforce.

“We’ve had 24 straight months of private-sector job growth,” says Secretary of Labor Hilda Solis. “U.S. job growth over the last six months has been the strongest since before the recession began in 2006.” Experts say, however, that it will take another five years to gain pre-recession employment figures.

MORTGAGE APPLICATIONS WERE DOWN for the week ending March 2, decreasing 1.2% from the previous week, according to the Mortgage Bankers Association. Along with that news, RealtyTrac showed new foreclosures were up 2.89% from December 2011 to January 2012.

March 26, 2012

HARRISBURG, Pa. — The Pennsylvania Department of Environmental Protection awards grants for energy-efficiency or pollution-prevention projects

HARRISBURG, Pa. — The Pennsylvania Department of Environmental Protection has awarded more than $62,000 in grants to help 31 small businesses across the state, including some dry cleaners and laundries, invest in energy-efficiency or pollution-prevention projects.

“This program empowers small-business owners to invest in important upgrades that make the most sense for their business,” DEP Secretary Mike Krancer says. “It gives them the opportunity to lower the costs of production, which makes them better environmental stewards and more competitive.”

Receiving grants were:

March 8, 2012

CHICAGO — January ’s unemployment rate dropped to 8.3%

CHICAGO — JANUARY’S UNEMPLOYMENT RATE dropped to 8.3%, according to the U.S. Department of Labor, the lowest since February 2009.

“The economy added 257,000 private-sector jobs last month, exceeding expectations,” says Secretary of Labor Hilda L. Solis. “These numbers show that the labor market continues on a positive trajectory.

In response to the positive numbers, the Dow Jones jumped the day after the announcement while the Nasdaq index reached a level that hasn’t been seen since December 2000.

THE FEDERAL RESERVE DISTRICTS reported modest growth for December, indicating ongoing improvement in the country’s economy. Consumer spending increased in most of the 12 districts, showing strong holiday sales compared to that of 2010, and activity expanded in the travel and tourist sector as well.

February 7, 2012

CHICAGO — DECEMBER FOUND THE U.S. UNEMPLOYMENT rate dropping to a nearly three-year low of 8.5%, with non-farm payrolls increasing by 200,000 in the month alone, according to the U.S. Department of Labor. Economists had expected a 150,000 increase, and the number was the largest hike in three months. The forecasted unemployment rate was 8.7%.

October 24, 2011

CHICAGO — Both U.S. job growth and unemployment claims experienced slight improvements in September.

Secretary of Labor Hilda Solis reported on the September job growth, saying, “Non-farm payroll employment added 137,000 private-sector jobs, exceeding expectations, and total non-farm payroll jobs grew by 103,000. Additionally, the reported July and August jobs numbers were revised significantly upward, meaning that we added 99,000 more jobs during those two months than previously was reported. The unemployment rate remained at 9.1%.”

Solis added that 2.6 million jobs have been created over 19 consecutive months of private-sector growth.

Her department also reported that for the week ending Sept. 24, initial claims for unemployment insurance decreased by 37,000, to a seasonally adjusted total of 391,000. The number is the lowest since the beginning of April. The four-week average dropped as well, the first time in six weeks, to 417,000.

February 1, 2011

HARRISBURG, Pa. — State investments are helping Pennsylvania small-business owners continue to lower their operating costs by conserving energy and reducing pollution, Department of Environmental Protection (DEP) Secretary John Hanger says.

Ninety small businesses across the state will receive more than $560,000 in grants through the Small Business Advantage (SBA) program to reduce energy use and pollution, enabling them to become more competitive. Several drycleaners and self-service laundries are among the businesses receiving grants.