Items Tagged with 'Labor Department'


  • Unemployment rate holds at 3.7% in July as hiring slows

    Economy adds 164,000 jobs, led by business services and health care
    The U.S. economy added 164,000 jobs in July, fewer than June’s downwardly revised pace of 193,000, according to the Bureau of Labor Statistics. The unemployment rate was 3.7%, matching last month’s rate. Economists expected the so-called nonfarm payroll number to rise by 165,000 and the unemployment rate to drop to 3.6%, which would have tied the 50-year low set in April and May.
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  • Labor Department launches "top-to-bottom" review of Wells Fargo

    Answers call from eight senators to open investigation
    Wells Fargo has its hands full these days. The beleaguered megabank is already facing a $185 million fine for the recent fake account scandal, which subsequently led to ongoing investigations from the House Financial Services Committee and the Department of Justice, not to mention a rough appearance before the Senate Banking Committee for Wells Fargo CEO John Stumpf. And now, the bank is facing a thorough review of its labor practices.
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  • Senators want Labor Department investigation of Wells Fargo

    Sanders, Warren, others question whether bank "aggressively skirted" labor laws
    Wells Fargo and its CEO, John Stumpf, took plenty of lumps earlier this week when Stumpf appeared before the Senate Banking Committee to discuss the $185 million fine the bank is facing, but some of the members of the Senate are far from being done with Wells Fargo. In fact, a group of eight senators are now calling on the Department of Labor to investigate Wells Fargo for potential labor law violations stemming from the company’s “aggressive” sales culture.
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  • Jobless claims fall by 15,000 filings

    Lowest level in six years
    The labor market continues to steadily improve, with the number of applications for unemployment insurance falling to 320,000 filings, the lowest level in almost six years, the government said Thursday.
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  • Jobless claims inch up

    Unemployment claims edge up by 5,000 filings
    While jobless claims increased by 5,000 filings this past week, the uptick is relatively minor since it mirrors pre-recession levels.
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