unemployment – News Stories About unemployment - Page 25

Dec 3, 2009 3:38 PM CST

Obama Rejects Criticism of Black Caucus

It's a 'mistake' to focus on 'particular ethnic segments,' he says

(Newser) - President Obama says he understands the frustrations of the Congressional Black Caucus, but thinks it would be a "mistake" for him to focus too exclusively on the plight of black Americans in the recession. "The most important thing I can do for the African-American community is the same...

Obama Summit Tackles Jobs

Dec 3, 2009 7:34 AM CST

Obama Summit Tackles Jobs

Event will coincide with the release of November unemployment stats

(Newser) - The Obama administration will hold a much-hyped jobs summit today, bringing 130 guests—including labor leaders and a host of big-name CEOs—to brainstorm ideas for tackling unemployment. The event also just happens to coincide with the release of November’s unemployment figures, which aren’t expected to be pretty—...

Incredible Shrinking Stimulus Needs Part II

OPINION

Dec 3, 2009 3:32 AM CST

Incredible Shrinking Stimulus Needs Part II

Local government cuts are canceling out federal package

(Newser) - The American economy badly needs a second stimulus package, but the false belief that the government has already stimulated the economy to the tune of $787 billion is standing in the way, writes Harold Meyerson. When deferred spending and the effect of state and local government cuts are taken into...

Employers Offer
More OT, Fewer New Jobs

green shoots

Nov 27, 2009 1:33 PM CST

Employers Offer More OT, Fewer New Jobs

Brightening economy results in more overtime, fewer new jobs

(Newser) - Manufacturers skeptical about economic improvement are hedging their bets and forgoing hiring in favor of scheduling overtime work to fill welcome new orders. The tactic may be working for now—employees surely aren’t complaining—but the phenomenon is likely to be short-lived. “Overtime is more costly,” an...

Unemployment to Stay
High for Years

Nov 24, 2009 4:13 PM CST

Unemployment to Stay High for Years

Fed officials predict it will take about 5 years to return to normal

(Newser) - Unemployment will remain higher than normal for years to come, Fed officials predicted today. Even at the end of 2012, the rate is forecast to be between 6.8% and 7.5%—a decent turnaround from the current 10.2% but still about 2 points higher than the figure in...

Q3 GDP Growth More
Like 2.8% Than 3.5%

FUZZY MATH DEPT

Nov 24, 2009 9:29 AM CST

Q3 GDP Growth More Like 2.8% Than 3.5%

Spending and home prices are up, but not enough to help jobs

(Newser) - The government’s optimistic reading of GDP growth in the 3rd quarter was distorted by a pair of rose-tinted glasses, it now says. The Commerce Department has revised its estimate down to 2.8% from 3.5% on evidence that stimulus programs like Cash for Clunkers and the homebuyers' tax...

Young Black Men Hit Hardest By Recession

34.5% unemployment

Nov 24, 2009 6:21 AM CST

Young Black Men Hit Hardest By Recession

Demographic's unemployment reaches Depression-era levels

(Newser) - The recession has sent the unemployment rate among young black men soaring to rates not seen since the Great Depression. The jobless rate among black males aged 16 to 24 hit 34.5% last month, more than triple the rate for the general population. The demographic has been especially hit...

Congress' New
Whipping Boy:
The Fed

Nov 23, 2009 8:54 AM CST

Congress' New Whipping Boy: The Fed

Bernanke & Co. run into populist ire over Wall St bailouts, unemployment

(Newser) - When Fed Chair Ben Bernanke goes before Congress next month seeking a second term, he'll run straight into cantankerous legislators riding a tide of populist rage over the Wall Street bailout and high unemployment. While the Fed acted decisively to bail out the financial markets last year, it's widely viewed...

Obama's Stimulus Finally
Gets Some Respect

Nov 21, 2009 6:21 AM CST

Obama's Stimulus Finally Gets Some Respect

Warring economists agree that it has helped—if not enough

(Newser) - Economists are still fighting about whether the economic stimulus was too small, or too big and wasteful, but a consensus is emerging, at least, that the $787 billion package, flawed as it is, is working. With a quarter of the money now spent, the New York Times says a broad...

AOL to Lay Off a Third of Staff

Nov 19, 2009 8:13 AM CST

AOL to Lay Off a Third of Staff

Roughly 2300 will get the boot after spin-off

(Newser) - AOL says it plans to cut about a third of its work force once it is spun off from Time Warner. That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling company. AOL said in a securities filing today it will impose the cuts...

Forget the Rosy Stats:
The Little Guy Is in Bad Shape

Nouriel Roubini

Nov 18, 2009 1:34 PM CST

Forget the Rosy Stats: The Little Guy Is in Bad Shape

Economy far worse off than statistics indicate

(Newser) - Don’t believe the rosy official statistics; for most Americans, the economy is in incredibly bad shape, according to the economist some call “Dr. Doom.” We’re looking at a tale of two economies, Nouriel Roubini writes in the Globe and Mail . For top businesses, it’s recovering...

Dems Switch Focus to Jobs

Nov 17, 2009 7:35 AM CST

Dems Switch Focus to Jobs

House aims to have job creation package ready by Xmas

(Newser) - House Democrats hit by accusations they've been focusing on health care at the expense of employment plan to tackle job creation in the coming weeks. There's no consensus on whether the move will come as one big package or a series of smaller measures but Democratic leaders plan to have...

It's About the Jobs, Stupid

paul krugman

Nov 13, 2009 8:20 AM CST

It's About the Jobs, Stupid

The US needs to create work for Americans

(Newser) - The US has to shake up conventional thinking and create jobs for out-of-work Americans, writes Paul Krugman . Our current misguided thinking—as evidenced by unemployment north of 10%—isn't so much a jobs policy as GDP policy. "If you grow it, they will come," goes the philosophy. Get...

9 Other States Have Calif.-Sized Fiscal Messes

Nov 11, 2009 8:14 PM CST

9 Other States Have Calif.-Sized Fiscal Messes

Ariz., Fla., Ill., Mich., and NJ among others facing crises

(Newser) - California has by no means cornered the market on enormous financial problems at the state level, with a report out today saying Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, and Wisconsin are also at tremendous risk. The Pew Center sees widespread unemployment, huge budget deficits, and the...

Hard Times Catch Up with Well-Heeled Jobless

Nov 11, 2009 7:07 AM CST

Hard Times Catch Up with Well-Heeled Jobless

Generous severance packages start to sputter

(Newser) - Time and money is finally beginning to run out for large numbers of people who lost their jobs, and have been living off hefty severance packages for up to two years. Many workers who received generous exit packages from the financial and auto industries kept on spending the way they...

Dow Up 17 as
Jobs Stats Stall Stocks

MARKETS

Nov 6, 2009 3:09 PM CST

Dow Up 17 as Jobs Stats Stall Stocks

Stock indexes finish week up 3%

(Newser) - Stocks rose slightly today after analysts upgraded GE—a striking sign of confidence, given the troubles at its finance arm over the previous year. But any enthusiasm was tempered by the news that unemployment hit 10.2% in October, the highest level since 1983.

The Dow rose 17.46 points

...

Expect Unemployment
to Keep Rising

megan mcardle

Nov 6, 2009 11:33 AM CST

Expect Unemployment to Keep Rising

Companies still aren't sold on a long-term recovery

(Newser) - Anyone hoping that today's worse-than-expected news of 10.2% unemployment means we've hit rock bottom is going to be disappointed, writes Megan McArdle . "This figure is likely to get worse before it gets better." Companies need more proof of a long-term recovery before committing to new hires. In...

Unemployment Jumps to 10.2%

Nov 6, 2009 7:50 AM CST

Unemployment Jumps to 10.2%

Companies cut 190,000 jobs last month

(Newser) - Unemployment cracked the 10% barrier last month, as 190,000 workers lost their jobs, according to Labor Department figures released today. The bigger-than-expected losses bring the rate to 10.2%, a 26-year high. And the underemployment rate, which includes would-be full-timers working part time and those who've given up looking...

Dems Will Regret Not Being Bolder on Economy

PAUL KRUGMAN

Nov 6, 2009 6:48 AM CST

Dems Will Regret Not Being Bolder on Economy

Voter backlash is about failure to lower unemployment

(Newser) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when...

Hey Blue Dogs, We Need a Second Stimulus

ROBERT REICH

Nov 4, 2009 5:51 PM CST

Hey Blue Dogs, We Need a Second Stimulus

Rising unemployment makes it essential

(Newser) - The ever-worsening employment situation demands a second stimulus, writes former Labor Secretary Robert Reich . Yes, the first stimulus is only half-spent, but the remaining programs won’t affect mounting job losses. Blue Dog Democrats, worried about the deficit and 2010 elections, will be hard-pressed to support a second round, but...