User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Mar 02 2015 06:37 IST RSS 2.0
 
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Janet Yellen gets the need for rising wages. That's why Republicans are out to get her. 2.3.2015 Daily Kos
No one else that President Obama appointed has a greater impact on our economy. First, let's start with the good news, developments that are both important and a long time coming. Thursday's reports from the Bureau of Labor Statistics showed: 1) For all employees, real hourly wage growth (i.e., growth above the rate of inflation) came in at 1.2% in January, 0.5% of which came from increased wages and 0.7% of which came from a drop in inflation (mostly from a reduction in energy costs). 2) For all private, nonfarm employees, real hourly wages increased 2.4% from January 2014 to January 2015, and—thanks to an increase of 0.6% in the average workweek—real weekly wages increased by 3.0%. 3) Within private, nonfarm employees, for nonsupervisory and production employees (i.e., workers as opposed to management) real weekly wage growth was 3.8% from January 2014 to January 2015. This increase in weekly real wages is worth applauding, particularly because it is higher for regular workers than for management. I ...
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Small SUVs, pricey sports cars dominate at Geneva auto show 1.3.2015 AP Top News
FRANKFURT, Germany (AP) -- Small SUVs for families and powerful sports cars for the rich are the big things this year at the Geneva International Motor Show this year. Environmentally correct electrics and hybrids, not so much - thanks to cheaper gas and limits on battery life....
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Japan's inflation rate falls in January on lower oil costs, manufacturing, retail sales weaken 27.2.2015 Star Tribune: World
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Millennials won’t lose recession scars anytime soon 25.2.2015 Durango Herald
WASHINGTON – With the U.S. economy gaining steam, employers are finally hiring – and those benefits have spread to most corners of the job market. Even America’s young adults, who bore the brunt of the downturn, are starting to regain their economic footing.That doesn’t mean all is well for millennials,...
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‘Ground zero’ for the Great Recession 25.2.2015 Durango Herald
WILMINGTON, Ohio – Folks in this little Ohio city are thankful for all the interest and help – the national TV coverage, the attention from politicians of all stripes, the visits by celebrities, the generous donations to feed families facing hunger for the first time.Now, they’d like to be known for something more...
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FTSE 100 record: A UK recovery? 24.2.2015 BBC: Business
But what does it say about the wider UK economy?
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This City Served as a Poster Child for the Recession--and It Still Has a Long Way to Go 24.2.2015 Inc
Dubbed "ground zero" in the heart of the recession, Wilmington, Ohio isn't out of the woods ...
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These are the best college majors if you actually want a job after graduation 23.2.2015 Ezra Klein
Wondering what to major in? If your a college student wondering what you'll do after you graduate, it might be good to know that young workers with degrees in agriculture, mining, teaching and medicine are in high demand. So are those who studied physics or chemistry. But if you major in architecture or a social science, you ...
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Some progress, but recession 'poster city' faces uphill road 22.2.2015 AP Business
WILMINGTON, Ohio (AP) -- Folks in this little Ohio city are thankful for all the interest and help: the national TV coverage, the attention from politicians of all stripes, the visits by celebrities, the generous donations to feed families facing hunger for the first time....
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Is Welfare Reform Causing Earlier Deaths? 20.2.2015 Truthout.com
The number of children in poverty on TANF has more or less remained steady over the years, and when their parents or caregivers can't find work, their suffering is deeper and longer lasting. (Image: Against glass via Shutterstock) Want to challenge injustice and make real change happen? That's Truthout's goal - support our work with a donation today! Twenty years ago, "welfare as we knew it" died. Under the bipartisan Personal Responsibility and Work Opportunity Act, the Clinton administration began an agenda of "personal responsibility," aimed at pushing welfare recipients into self-sufficient nuclear families. But the old welfare system has ended at a price: new research on the cost of reform shows that, while many have been ripped away from the lifeline of government support, nothing is there to catch them as they fall to unprecedented depths. To "incentivize" work, welfare reform replaced the open-ended Aid to Families with Dependent Children (AFDC) program with time-limited Temporary Assistance for ...
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In Europe, cheaper goods help consumer but also pose risks 18.2.2015 AP Business
MILAN (AP) -- In Milan's teeming commercial district, something unusual is happening this winter - Italians are shopping....
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Yanis Varoufakis: How I became an erratic Marxist 18.2.2015 The Guardian -- Front Page
Before he entered politics, Yanis Varoufakis, the iconoclastic Greek finance minister at the centre of the latest eurozone standoff wrote this searing account of European capitalism and and how the left can learn from Marx’s mistakes In 2008, capitalism had its second global spasm. The financial crisis set off a chain reaction that pushed Europe into a downward spiral that continues to this day. Europe’s present situation is not merely a threat for workers, for the dispossessed, for the bankers, for social classes or, indeed, nations. No, Europe’s current posture poses a threat to civilisation as we know it. If my prognosis is correct, and we are not facing just another cyclical slump soon to be overcome, the question that arises for radicals is this: should we welcome this crisis of European capitalism as an opportunity to replace it with a better system? Or should we be so worried about it as to embark upon a campaign for stabilising European capitalism? When called upon to comment on the world we ...
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Greece Does Battle With Creationist Economics: Can Germany Be Brought Into the 21st Century? 16.2.2015 Truthout.com
If German Chancellor Angela Merkel and other leaders in the European Union cannot accept reality then Greece and southern Europe would be far better off breaking free of the euro and leave Germany to wallow in its 19th century economic fairy tales. (Photo: World Economic Forum ) Europeans have been amused in recent weeks by the difficulty that Republican presidential candidates have with the theory of evolution. But these cognitive problems will only matter if one of these people gets into the White House and still finds himself unable to distinguish myth from reality. By contrast, Europe is already suffering enormous pain because the people setting economic policy prefer morality tales to economic reality. This is the story of the confrontation between Greece and the leadership of the European Union. The northern European countries, most importantly Germany, insist on punishing Greece as a profligate spender. They insist on massive debt payments from Greece to the European Union and other official ...
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Labour must push what Miliband has got right on the economy in election runup 15.2.2015 Guardian: Comment is Free
Charge sheet brought by the Tories may not stand up, but party still needs show how its tax and spending policy can help re-shape and modernise the economy In less than three months’ time, Ed Miliband could be prime minister. Admit it, conjuring up the mental image of the Labour leader coming in and out of No 10 is tough, even though opinion polls suggest that is the likeliest outcome of the election. As far as his political opponents are concerned, Miliband should be a dead man walking. The economy is growing and unemployment is falling. Courtesy of falling oil prices, living standards are rising. Labour trail the Conservatives on economic competence. Miliband is seen as a less impressive leader than David ...
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Slow-to-rise wages undercut workers, U.S. economic recovery 15.2.2015 Star Tribune: Latest
In Minnesota, wages for new hires, adjusted for inflation, have fallen since 2006. And the share of jobs held by new hires is growing.
David Cameron’s cynical attack on ‘skivers’ will hurt the strivers as well | Tom Clark 12.2.2015 Guardian: Comment is Free
Those in work are finding their pay and conditions squeezed because employers know they can be replaced During the recession, John McArthur put himself forward to work for LAMH Recycle Ltd in Motherwell, a social enterprise that reconditions computers. An electronics specialist, McArthur, now 59, had previously worked on factory floors, then retrained, moved into product development, and even started his own company. But like many in Lanarkshire, he found that a rich CV counted for little when facing a slump. Frustrated by unemployment, he seized on the chance “to sit at the end of line” at LAMH, “doing the final quality check, signing things off as good to go. It was minimum-wage work,” he tells me, “but I was more than happy to do it. I had experience to share.” John was prepared for the fact that this placement, which was backed by a Labour government programme, would not last forever: it ended in 2011. Nothing, however, could prepare him for what happened next. Last summer, under a new coalition ...
Unemployment causes 45,000 suicides a year worldwide, finds study 11.2.2015 The Guardian -- Front Page

Researchers say unemployment linked to more suicides than recession and that risk among jobless is stronger where more people are in work

Unemployment in good times or bad is a far bigger factor in suicides than an economic crisis, accounting for nine times as many deaths, according to a study.

The recent economic downturn has caused about 5,000 deaths in 63 countries, whereas unemployment over the period 2000 to 2011 was responsible for 45,000, an analysis in the journal Lancet Psychiatry has found.

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Impact of right-to-work laws on state economies is virtually nil 11.2.2015 Chicago Tribune: Opinion
Gov. Bruce Rauner has fired the first salvos in a campaign to turn Illinois into a right-to-work state. Like other right-to-work advocates, he bases his argument on claims that this will strengthen the state's economy and raise its standard of living. Does he have a ...
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AP-GfK Poll finds Obama approval and Americans' views of the economy improving 9.2.2015 Star Tribune: Politics
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Inflation should be the focus for Fed 9.2.2015 Financial Times US
Aborting recovery and risking a further slowing of price rises is potentially catastrophic
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