User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Oct 13 2015 20:53 IST RSS 2.0
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Counting the cost of Ireland's recovery 13.10.2015 BBC: Business
Counting the cost of economic recovery
'Working harder for less money' in Las Vegas, weary host of the Democratic debate 13.10.2015 LA Times: Nation

When the economy crashed in 2008, Rocky Jones was doing electrical work at the Fontainebleau, a $3-billion casino resort under construction on the Strip.

Before long, banks pulled the project's loans, builders abandoned the 63-story tower and Jones lost his job. He makes his living now as a handyman...

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The Bernanke file 12.10.2015 Washington Post: Op-Eds
Reading former Federal Reserve chairman Ben Bernanke’s new memoir of the financial crisis — “The Courage to Act” — you are reminded how lucky we are. Despite a disappointingly slow economic recovery, it could have been much, much worse. The conventional wisdom is that we have dodged a second Great Depression, when the unemployment rate reached 25 percent. Nothing in Bernanke’s account contradicts that conclusion.Read full article ...
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World's young jobseekers still struggling, says ILO 9.10.2015 The Guardian -- World Latest

New evidence emerges that young people looking for work are being disproportionately hurt by the legacy of the global financial crisis

Millions of young people continue to struggle to find work with global youth unemployment set to rise further above its pre-downturn level, the International Labour Organisation (ILO) has warned.

The UN agency is calling on governments to invest more in education and training as new evidence emerges that young jobseekers are being disproportionately hurt by the legacy of the global financial crisis.

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The mysterious investment bust 7.10.2015 Washington Post: Op-Eds
In a fascinating talk recently, Jason Furman — the White House’s chief economist — took a crack at solving a great puzzle of the lackluster recovery: weak business investment. The explanation takes on added urgency after the latest disappointing jobs report. Although September’s unemployment rate remained at 5.1 percent, the number of new payroll jobs was only 142,000, much less than expected. Vigorous investment spending is the missing piece in a strong recovery.Read full article ...
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Obama’s Numbers (October 2015 Update) 6.10.2015 FactCheck
Our quarterly update of selected statistical indicators of Obama's presidency.
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Paycheck mystery: More jobs and fewer people but low raises 4.10.2015 SFGate: Business & Technology
WASHINGTON — Companies have posted a record number of job openings just when a diminished proportion of Americans are either working or looking for work. Yet on Friday, the government’s monthly jobs report showed that the percentage of people in the workforce — those who either have a job or are looking for one — reached a 38-year low of 62.4 percent. Why? Because many Americans who were once unemployed have become discouraged, returned to school or chosen to stay home, in some cases to care for relatives. [...] with fewer Americans on the hunt, employers, who face a record number of advertised jobs, should be feeling pressure to raise pay. If those people had left the workforce permanently, employers would be compelled to offer more pay to draw from a smaller pool of potential hires.
A sunny outlook for jobs in the Golden State 3.10.2015 LA Times: Business

The economic news for California lately has been worrying. Turmoil in the markets of China, one of the state's largest trading partners. A punishing drought that has left a half-million acres of farmland fallow this year. A "business climate" that perpetually ranks near the bottom in national surveys.

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Weakness and strength: 7 snapshots of the US job market 3.10.2015 AP Business
WASHINGTON (AP) -- The U.S. job market no longer looks quite so robust....
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Job Growth Surprisingly Weak in September 2.10.2015 Truthout - All Articles
The Labor Department reported the economy created just 142,000 jobs in September, well below most forecasts. Furthermore, the prior two months' numbers were revised down as well, bringing the average for the last three months to 167,000. In addition, there was a drop in the length of the average workweek of 0.1 hour causing the index of aggregate hours to decline by 0.2 percent. This drop, combined with a modest fall in the average hourly wage, led to a 0.3 percent decline in the average weekly wage. The household survey also showed a weak picture of the labor market. While the unemployment rate was unchanged there was a drop of 0.2 percentage points in both the labor force participation rate and the employment to population ratio. The share of unemployment due to people who voluntarily quit their jobs remained at the low 9.8 percent rate of August, a level typically seen in recessions. The one piece of clear good news in the survey was a drop of 447,000 in the number of people working part-time for ...
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The smartest economist you’ve never heard of 2.10.2015 Ezra Klein
The smartest economist you’ve never heard of
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A Lackluster September Jobs Report 2.10.2015 Outside the Beltway
September's Jobs Report was disappointing to say the least, and calls into question the Federal Reserve's apparent plan to raise interest rates in the near future.
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Economy adds 142,000 jobs in September, missing expectations 2.10.2015 Washington Post
The report is well below the robust pace many analysts had expected and calls into question once again the sturdiness of the nation's ...
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Apart from low unemployment, just how healthy is job market? 2.10.2015 AP Business
WASHINGTON (AP) -- The U.S. unemployment rate - now just 5.1 percent - grabs a lot of the attention each month when the government issues its jobs data. Yet the rate doesn't come close to sketching a full picture of the job market....
Business News Roundup, Sept. 25 25.9.2015 SFGate: Business & Technology
To stave off prohibition, Uber has noted its capacity to provide jobs in Brazil, which has been dealing with an economic crisis. The company released a statement two days after the Sao Paulo council vote in which the company promised 30,000 jobs for drivers by October 2016. Buoyed by steady job gains and low mortgage rates, Americans purchased new homes in August at the fastest pace in more than seven years. New-home sales rose 5.7 percent last month to a seasonally adjusted annual rate of 552,000, the Commerce Department said Thursday. Last month’s increase followed an even bigger 12 percent jump in July, according to the government’s revised figures. Healthy hiring and smaller price increases for new homes have finally begun pushing up sales, which were hammered during the recession and recovered slowly even after the downturn ended in 2009. “Housing has been an economic bright spot this year and activity in the new home construction market remains solid,” said Michelle Girard, an economist at ...
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Why the Poverty Rate Isn't Going Down 24.9.2015 American Prospect
AP Photo/Seth Perlman, File In this Jan. 15, 2013 file photo, Fred Drake helps prepare food supplies to be distributed to people and families in need at the Grace Lutheran Church Food Pantry in Springfield, Illinois.  Last week, the Census released new data on income and poverty. The official poverty measure is an important metric, one that tells us what share of people live in extreme economic deprivation in one of the wealthiest countries in the world. Since it’s been in place for nearly 50 years and has been measured fairly consistently, the official poverty measure paints a picture of poverty over time. We know that the share of Americans living at or below the poverty line fell in the 1960s and stayed within a small range over the last four decades or so, generally rising in recessions and falling in expansions. Since 2000, it’s seen a lot more up than down. It held steady in 2014—remaining at 14.8 percent. The official poverty measure has historical significance, but it has its limitations. It ...
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Fermanagh and Omagh top UK happiness scale 23.9.2015 The Guardian -- Front Page

Office for National Statistics says Britons are generally happier but there is a growing inequality in personal wellbeing across UK

The happiest region in the UK is Fermanagh and Omagh in Northern Ireland, according to figures from the Office for National Statistics (ONS)

Overall, the ONS’s wellbeing survey showed that people in the UK are getting generally happier but there is a growing inequality in personal wellbeing. Most parts of the UK showed at least some increase in all four indicators of wellbeing since 2012.

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What does the Fed know, and what doesn't it? 22.9.2015 Chicago Tribune: Business
What does the Fed know, and what doesn't it?
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Brazil Needs New Economic Program to Jump-Start Growth and Employment 21.9.2015 Truthout - All Articles
Finance Minister Joaquim Levy says that unemployment is going to increase and that Brazilians should "face some realities." No country should have a finance minister with this attitude towards one of its population's most important needs - employment. Brazilian Finance Minister, Joaquim Levy, speaks to the press, August 12, 2015. (Photo: Senado Federal) Truthout can only survive through reader support. Click here to make a tax-deductible donation and help publish journalism with real integrity and independence! Finance Minister Joaquim Levy says that unemployment is going to increase in Brazil and that Brazilians should "face some realities." No country should have a finance minister with this attitude towards one of its population's most important needs - employment. And even worse, someone who is acting on these twisted beliefs in order to make them reality. His own job should be the first to go. The vast majority of Brazilians are still hugely better off than they were before the Workers Party assumed ...
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Sen. Barbara Boxer lashes out at Carly Fiorina as "mean-spirited" face of corporate greed 19.9.2015 LA Times: Nation
Sen. Barbara Boxer lashed out at Republican presidential candidate Carly Fiorina on Friday, saying that the woman she defeated in 2010 is a "mean-spirited," failed business leader who cared more about enriching herself than about working Americans.
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