NewsRack: newstrust/US-Economy/Recession

Dean Baker | Unemployment Edges up to 9.6 Percent as Weak Job Growth Continues - Truthout - All Articles

Thu, 02 Sep 2010 18:30:00 GMT

This report supports the case that unemployment is cyclical, not structural.

The unemployment rate edged up to 9.6 percent in August as the economy shed 54,000 jobs. The decline was entirely attributable to the loss of 114,000 temporary Census jobs. Excluding these jobs, the economy created 60,000 jobs. With job growth for the prior two months revised up by 123,000, excluding the Census jobs, the August pace is roughly even with June and July.

The Fake Fire Brigade Revisited #3 - The Biggest Part of Business As Usual - Electricity - The Oil Drum

Nate Hagens — Thu, 02 Sep 2010 18:30:00 GMT

Below the fold is the 3rd in a series of follow up posts providing analysis on the difficulties of maintaining our current energy paradigm with renewable energy (generally, ' the fake fire brigade '). The main authors are Hannes Kunz, President of Institute for Integrated Economic Research (IIER) and Stephen Balogh, a PhD student at SUNY-ESF and Senior Research Associate at IIER. IIER is a non-profit organization that integrates research from the financial/economic system, energy and natural resources, and human behavior with an objective of developing/initiating strategies that result in more benign trajectories after global growth ends. The authors have written an extensive follow-up to the questions raised in the original posting and I've ...

Companies add 67K workers, but jobless rate rises - Minnesota Public Radio: Business

Thu, 02 Sep 2010 18:30:00 GMT

Private employers hired more workers over the past three month than first thought, lifting hopes for the weak economy ahead of the Labor Day weekend.

Stocks extend September rally after jobs report - LA Times: Business

Thu, 02 Sep 2010 18:30:00 GMT

NEW YORK — Stocks extended their rally Friday after an encouraging report on jobs lifted hopes about the pace of economic growth.

Obama’s Disastrous Jobs Record Makes George W. Bush Look Godlike - Gateway Pundit

Jim Hoft — Thu, 02 Sep 2010 18:30:00 GMT

So much for that Recovery Summer… The Obama economy lost 283,000 jobs in last three months. THE REALITY – BIG GOVERNMENT TAX & SPEND POLICIES CRIPPLE THE ECONOMY Obama’s trillion dollar stimulus package failed. Barack Obama and Nancy Pelosi tripled the national deficit last year by nearly a trillion dollars – something unheard of in [...]

US business adds jobs, unemployment rate still up slightly - Summary - Earth Times

Thu, 02 Sep 2010 18:30:00 GMT

US business adds jobs, unemployment rate still up slightly - Summary

More Stimulus Badly Needed to Create Jobs - Commondreams.org Views

Thu, 02 Sep 2010 18:30:00 GMT

by Mark Weisbrot

This is the worst Labor Day for American labor in decades, maybe since the Great Depression. Unemployment is at 9.5 percent (as of July), and if we add in the people involuntarily working part time or who have given up looking for work, we get 16.5 percent of the labor force. This means that unemployment plus underemployment has risen by about 14.6 million people since the recession began.

Romanian president calls for more austerity - Boston Globe: Latest

Alison Mutler, Associated Press Writer — Thu, 02 Sep 2010 18:30:00 GMT

Romanian president calls for more austerity

Pending home sales rise - SFGate: Business & Technology

Thu, 02 Sep 2010 18:30:00 GMT

Pending home sales rise

Experts see trouble ahead for developed world - SFGate: Business & Technology

By DAN PERRY, Associated Press Writer — Thu, 02 Sep 2010 18:30:00 GMT

Experts see trouble ahead for developed world

Markets rally as US jobless figures better than feared - The Guardian -- World Latest

Katie Allen — Thu, 02 Sep 2010 18:30:00 GMT

About 54,000 jobs lost, far fewer than the 100,000 expected, easing fears of a second US recession Fears that the world's largest economy is spiralling back into recession eased today as US unemployment data came in stronger than expected. Global stock markets rallied in relief as the US government said employers shed almost half as many jobs as markets had been expecting last month, while the picture in previous months was also brighter than first thought. Non-farm payrolls showed a drop of 54,000 jobs in August. Economists polled by Reuters had forecast on average a decline of 100,000 jobs. Data for July was revised to show a fall of 54,000 as well, stronger than the 131,000 drop previously reported. The private sector, regarded ...

Rise in US private sector jobs raises hope - Financial Times US

Thu, 02 Sep 2010 18:30:00 GMT

The US shed 54,000 jobs in August as the government dismissed more temporary census workers, but a healthy rise in private-sector employment offered hope that the economy could fend off a second recession

FDR’s Labor Day Plea Resonates Today - Commondreams.org Views

Thu, 02 Sep 2010 18:30:00 GMT

by Sarah Anderson

On the eve of Labor Day in 1936, President Franklin Delano Roosevelt warned in his “Fireside Chat” of a potentially dangerous surge in class divisions if more was not done to support ordinary workers.

For FDR, providing the opportunity to labor for a “decent and constantly rising standard of living” was fundamental to a healthy democracy.

Experts see trouble ahead for developed world - AP Business

By DAN PERRY — Thu, 02 Sep 2010 18:30:00 GMT

By DAN PERRY 2010-09-03T12:25:19Z

CERNOBBIO, Italy (AP) -- Is the global economy out of the woods? Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook - especially for the United States and much of the industrialized world....

Struggling youth crime prevention groups see salvation in $1.6B federal bailout of sorts - Star Tribune: Nation

Thu, 02 Sep 2010 18:30:00 GMT

Broke youth anti-crime groups want federal cash - Boston Globe: Latest

Thomas Watkins, Associated Press Writer — Thu, 02 Sep 2010 18:30:00 GMT

Broke youth anti-crime groups want federal cash

The Economy Is the Number on Your Paycheck, Not the Stockmarket's Ups and Downs - AlterNet.org: Corporate Accountability and WorkPlace

Robert Reich, Robert Reich's Blog — Wed, 01 Sep 2010 18:30:00 GMT

The stock market has as much to do with the real economy as the weather has to do with geology.

Un-Happy Labor Day - Portfolio.com: Capital

Wed, 01 Sep 2010 18:30:00 GMT

Un-Happy Labor Day

US jobs market still reeling long after financial crisis - The Guardian -- World Latest

Larry Elliott — Thu, 02 Sep 2010 18:30:00 GMT

Democrats were hoping for good news in job creation figures provided by today's US non-farm payroll data – but the underlying story is deeply disturbing Fresh evidence of the stuttering nature of America's recovery from its deepest postwar recession will be provided by the labour department in Washington today when it reveals the latest figures for job creation in the world's biggest economy. Always an eagerly awaited indicator of the economic health of the US, this month's non-farm payroll data has attained particular significance – not just for the dealers huddled around their computer terminals on Wall Street but also for Democrats facing midterm elections in November and for Barack Obama's chances of winning a second stint as president. ...

Green diary rescue & open thread - NewsTrust Yahoo Pipes Feed

Meteor Blades — Thu, 02 Sep 2010 18:30:00 GMT

At Grist , Randy Rieland writes : Ready for your morning bowl of crazy? Five years ago, Congress set aside millions of acres of public land in the Southwest for the development of solar farms. This was primo real estate for solar, considered one of the best spots in the world. So far not one solar panel has been erected. Oh, you want us to build something? This discouraging news comes courtesy of the AP's Jason Dearen , whose investigation shows that the understaffed U.S. Bureau of Land Management (BLM) focused almost all its time on approving oil and gas projects and leased the land on a first-come, first-served basis, often to outfits with little or no experience in actually building solar farms. Case in point: Cogentrix Solar ...

The Path to a High-Wage Society - American Prospect

Fri, 03 Sep 2010 18:30:00 GMT

The explosion of low-wage jobs is due, for the most part, to the declining bargaining power of America's employees.

White House considers package of business tax breaks to spur hiring - San Jose Mercury News: National News

Thu, 02 Sep 2010 18:30:00 GMT

WASHINGTON -- With less than two months until the November elections, the White House is seriously weighing a package of business tax breaks -- potentially worth hundreds of billions of dollars--- to spur hiring and combat Republican charges that Democratic tax policies hurt small businesses,

Op-Ed Contributor: How to End the Great Recession - International Herald Tribune: Editorials

By Robert B. Reich — Thu, 02 Sep 2010 18:30:00 GMT

To fix the U.S. economy, we must finally deal with wage inequality.

Pending home sales rise - SFGate: Business & Technology

Wed, 01 Sep 2010 18:30:00 GMT

Pending home sales rise

Undocumented immigration on the wane - NewsTrust Yahoo Pipes Feed

kos — Thu, 02 Sep 2010 18:30:00 GMT

Again, facts get in the way of scary wingnut hate rhetoric . The number of illegal immigrants entering the United States has plunged by almost two-thirds in the past decade, a dramatic shift after years of growth in the population, according to a new report by the Pew Hispanic Center. Between 2000 and 2005, an average of 850,000 people a year entered the United States without authorization, according to the report released Wednesday. As the economy plunged into recession between 2007 and 2009, that number fell to 300,000. Undocumented immigration is not on the rise. Crime is not up in border areas. Immigrants do not fuel what crime exists. Dishwashers and landscapers have nothing to do with the drug cartels. Etc. The entire ...