User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Dec 05 2016 05:27 IST RSS 2.0
 
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Hoosier Daddy? The man who really delivered the jobs in Indiana 5.12.2016 Daily Kos
For much of the past week, President-elect Donald Trump boasted about saving 1,000 jobs at the Carrier air conditioning plant in Indianapolis, Indiana. Representing only about half of the positions candidate Trump promised to protect from relocation to Mexico, the murky Carrier deal appears to be a one-off bargain combining the carrot of state tax breaks with the potential stick of retaliation against the manufacturer's parent company, defense contracting giant United Technologies . For UTX, it was a small price to pay for some favorable PR. For its part, the Obama administration begrudgingly gave credit where credit is due, with press secretary Josh Earnest acknowledging, "This is good news and, obviously, we'd welcome that good news." As it turns out, the Obama White House has good reason for its lack of enthusiasm. For starters, as economist Justin Wolfers pointed out, "Every savvy CEO will now threaten to ship jobs to Mexico, and demand a payment to stay." And such corporate extortion won't even ...
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FBN’s Stuart Varney Derides ‘Weak’ November Jobs Report 3.12.2016 NewsBusters
Not everyone in the news media cheered on the November jobs report. Fox Business Network (FBN) anchor Stuart Varney criticized the report’s numbers on Dec. ...
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More black Americans, high school grads find jobs 3.12.2016 Salt Lake Tribune
Washington • Many black Americans and people with only a high school education found jobs in November, helping reduce their unemployment rates to levels seen before the Great Recession ravaged the U.S. job market. The jobless rate for black Americans fell to 8.1 percent from 8.6 percent in October, matching a nine-year low set in August. The number of employed black Americans rose, as did their labor force participation rate — the proportion who are either working or actively seeking work. Despi...
What November's solid jobs report means for interest rates and Donald Trump 3.12.2016 LA Times: Commentary

Solid job gains and a nine-year low unemployment rate in November put the Federal Reserve on track for an interest rate hike this month and indicate that President-elect Donald Trump will inherit a steadily growing labor market — although one that still needs some key improvements.

The U.S. economy...

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U.S. unemployment sinks to 4.6 percent 2.12.2016 Salt Lake Tribune
Washington • U.S. employers added a solid 178,000 jobs in November, reflecting the steady economy President-elect Donald Trump will inherit. The unemployment rate hit a nine-year low of 4.6 percent, though mainly because many people stopped looking for jobs and were no longer counted as unemployed. Friday’s report from the Labor Department reflected a resilient job market that is helping drive the U.S. economy. Job gains have averaged 180,000 a month this year — more than enough to lower the un...
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Solid November Jobs Growth Seems To Guarantee Higher Interest Rates In December 2.12.2016 Outside the Beltway
Another month of solid but not spectacular jobs growth seems to guarantee that the Federal Reserve will increase interest rates this month.
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U.S. jobless rate falls to lowest level since 2007 as employers add 178K jobs in Nov. 2.12.2016 Chicago Tribune: Business
U.S. employers added a solid 178,000 jobs in November, reflecting the steady economy President-elect Donald Trump will inherit. And the unemployment rate hit a nine-year low of 4.6 percent, though mainly because many people stopped looking for jobs and were no longer counted as ...
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Unemployment Rate Falls Back to Pre-Recession Levels in November 2.12.2016 Truthout.com
The unemployment rate fell to 4.6 percent in November, almost equal to the pre-recession lows in 2007. However the sharp decline was partly due to people leaving the labor force, the employment-to-population ratio was unchanged at 59.7 percent. It actually fell slightly for prime-age (ages 25-54) workers, from 78.2 percent to 78.1 percent, although it is still 0.7 percentage points above its year ago level. Most other data in the household survey was positive, most notably a drop of 220,000 in the number of people involuntarily working part-time to a new post-recession low. At the same time, those choosing to work part-time jumped by 327,000. This is likely a dividend of the Affordable Care Act with workers now having the option to get insurance through the exchanges so that they don't need full-time jobs to get insurance through an employer. This number is now up by almost 2.2 million from December 2013, the month before the exchanges came into existence. Job growth for the month was 178,000, roughly in ...
Unemployment Reaches Nine-Year Low 2.12.2016 Inc
Despite the otherwise shining report, average hourly pay for workers decreased in the November report from the Department of Labor.
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Lesson for Democrats: Back to Class 1.12.2016 American Prospect
Lionel Hahn/ABACAPRESS.com/Sipa via AP Images A Donald Trump supporter on election night in New York City.  According to President Obama, the election that gave Donald Trump and the Republicans full control of the federal government and their greatest dominance at the state level since the Civil War had nothing to do with his policies. We Democrats have “better ideas,” he insisted to the press. “But I also believe that good ideas don’t matter if people don’t hear them.” Hillary, one might conclude from Obama’s remarks, just didn’t work hard enough. The president’s argument echoes through much of the Democrats’ gloomy post-mortem. The problem was Hillary’s schedule, or not enough “get-out-the-vote organizing, or James Comey’s interventions. And, of course, the racist and sexist voters in fly-over America, who are too stupid to understand their own interest. There is some truth to all of that. But the consoling claim that it wasn’t our product that failed but merely our marketing leads to a dangerous ...
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RBS worst hit in Bank of England stress test 30.11.2016 BBC: Business
RBS misses key hurdles in Bank of England stress test, forcing it to draw up new capital plans.
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Laid off for 18 months, Iron Range mineworkers prepare for uncertain future 28.11.2016 Minnesota Public Radio: Business
Keewatin Taconite closed a year and a half ago, part of a wave of mine closures that hit Minnesota's Iron Range. Many workers are back in school, learning new skills in case the mines don't reopen.
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Q&A: Political economist Eberstadt on men without jobs 27.11.2016 AP Business
WASHINGTON (AP) -- The U.S. unemployment rate has sunk to a generally healthy level since the Great Recession ended in 2009. Yet the other side of the coin - the proportion of adults who have jobs, what some economists call the "work rate" - remains 3 percentage points below what it was before the recession began....
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Philip Hammond opens his first Autumn Statement 23.11.2016 BBC: Business
Philip Hammond opens his first Autumn Statement by looking at the UK economic figures.
Trump's 'forgotten Americans' will get lower taxes on the rich and higher income inequality 21.11.2016 Daily Kos
Throughout his unlikely journey to the White House, Donald Trump declared himself to be a "blue-collar billionaire" who as President would be the "voice" of the "forgotten man." Rolling out the first of the three versions of his tax plan last December, the real estate tycoon and reality TV star boasted, "it's going to cost me a fortune—which is actually true." Of course, it's not true. Dodging his traveling press pool, President-elect Trump on Tuesday night headed off to the tony 21 Club in Manhattan. There, to a standing ovation , he told the well-heeled diners the truth: "We'll get your taxes down, don't worry." Theirs, and his. The man who apparently hasn't paid Uncle Sam a penny in 20 years has proposed a tax cut scheme that will enrich him, his businesses, and his children for years to come. Whether based on The Donald's own outline or House Speaker Paul Ryan's "Better Way" budget blueprint, the Trump Tax Cuts of 2017 will drain roughly $6 trillion from the United States Treasury over the next 10 ...
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More strong job and wage numbers thanks to Obama policies: Don't let Trump claim he 'fixed' things 20.11.2016 Daily Kos
We’ve just elected a post-truth candidate for president in a post-truth, fake news -dominated society. That makes it even more important that we get the real facts out there and fight to control the narrative. This week we got news on the U.S. job market, and it confirms the recent trends : American workers are doing better than they have at any point since the 2008 crash and the Great Recession.  The number of first-time unemployment claims fell this week to the lowest amount since 1973. Considering that the population and the labor force are more than 50 percent higher than they were in the 1970s, that’s even more impressive. The number of Americans filing continuing unemployment claims likewise dropped to a 16-year low. What about wages? We previously learned that, as of September, weekly earnings—adjusted for inflation—of production and non-supervisory workers reached a high not seen since the last months of the Carter administration. The very newest data from this week told us that average hourly ...
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Employees need reasons to stay -- or companies may see profits go 19.11.2016 Salt Lake Tribune
A stronger economy is good news for workers, who have more employment options than they did in the wake of the recession. But business leaders are likely to face some daunting human-resources challenges. Those who aren’t doing everything they can do to keep great employees will risk watching them walk out the door. Our research shows that 37 percent of employees nationwide — more than 1 in 3 — considered pursuing a better job elsewhere in 2015. That figure is an increase over the previous year (... <iframe src="http://www.sltrib.com/csp/mediapool/sites/sltrib/pages/garss.csp" height="1" width="1" > </frame>
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EU official praises Portugal's economy 18.11.2016 Salt Lake Tribune
Lisbon, Portugal • The European Union’s top economy official says there’s mounting evidence to show that Portugal is leaving behind its recent economic crisis. Pierre Moscovici, the European commissioner for economic and financial affairs, notes that Portugal’s economic growth was the strongest in the 19-country eurozone in the third quarter, at a quarterly 0.8 percent compared with 0.3 percent for the currency bloc as a whole. Moscovici said during a visit to Lisbon Friday that “Portugal is rec...
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Yellen hints Fed will raise interest rates, but what effect will that have on crackpot Trumponomics? 18.11.2016 Daily Kos
Absent serious negative economic news in the next few weeks, it seems ever more likely that the Federal Reserve will raise its short-term interest rates at its December 13-24 meeting. Fed Chairwoman Janet Yellen told members of the congressional Joint Economic Committee Thursday that “The U.S. economy appears to have picked up from its subdued pace earlier this year.” Yellen has been a “dove” regarding rates during most of her tenure at the Fed, seeking to find a balance between unemployment and inflation. But she was definitely a “hawk” Thursday. Although there are many weak points—and still a lot of pain for Americans who lost their jobs, their homes, and their savings, or suffered other financial setbacks during the Great Recession—various measures of the  labor market , wage growth , retail sales , and gross domestic product are showing signs of better health than they have during much of the low-growth recovery from the recession over the past seven years. Even housing, a major driver of the ...
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Yellen: Better economy boosts case for rate hike 18.11.2016 Salt Lake Tribune
Washington • Federal Reserve Chair Janet Yellen told Congress on Thursday that an improving U.S. economy has strengthened the case for raising interest rates. Her comments were seen as boosting the likelihood of a rate hike in December, as the country prepares for President-elect Donald Trump to take office. Yellen also said it was “fully my intention” to remain as Fed chair until her term ends in January 2018. She said she could not imagine any circumstance that would cause her to leave early, ...
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