User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: May 26 2015 24:39 IST RSS 2.0
 
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Productivity: It’s a drag 25.5.2015 Financial Times: Analysis
Restoring productivity levels is crucial to boosting living standards and filling tax coffers
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Joseph Stiglitz: ‘GDP per capita in the UK is lower than it was before the crisis. That is not a success’ 24.5.2015 The Guardian -- Front Page
Nobel prize-winner Joseph Stiglitz is the world’s foremost critic of economic and political inequality. He thinks the lessons of the global crash are being ignored, and he’s not much taken with the UK’s recovery either…

Think back to 2008. There was an inquest into Princess Diana’s death, Portsmouth won the FA Cup and Jonathan Ross and Russell Brand got in trouble for making a prank call to Andrew Sachs. Oh yeah, and the global economy almost collapsed.

To prevent the disintegration of international banking, and capitalism as we know it, governments were forced to pour trillions of dollars into rescue packages. In Britain alone, government loans to and investment in the banks amounted to hundreds of billions of pounds, which in turn presaged a debt crisis and years of austerity measures.

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Newest crop of college grads may find underemployment easing a bit 23.5.2015 Washington Post
It was one of the most iconic symbols of post-recession America: the college graduate working as a coffee shop barista, carrying a mountain of student debt and a bachelor's degree into a job that ordinarily would have required only a high school education. Almost half of recent grads, in fact, were in jobs that didn’t match their experience.Read full article ...
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Illinois unemployment holds steady in April at 6 percent 22.5.2015 Chicago Tribune: Business
Illinois' unemployment rate remained at 6 percent in April, as the state's slow economic recovery continued to trail those of neighboring states and more than half the ...
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There is a false divide between young and minorities 21.5.2015 The Guardian -- World Latest
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59% of college-educated Latinos have trouble meeting monthly expenses, report says 19.5.2015 LA Times: Commentary
A majority of Latinos say they have trouble covering monthly expenses, and almost 40% say they would have trouble finding $2,000 in an emergency, a new study said.
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Maybe The Economy Won’t Return To Normal 18.5.2015 Outside the Beltway
What if this is the new normal?
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This week in the war on workers: Happy graduation, kids. How screwed are you? 17.5.2015 Daily Kos
The good news is that recent high school and college graduates looking for work aren't as screwed as they were a few years ago. The bad news is that they're still kinda screwed. ... the unemployment rate is 7.2 percent for young college graduates and 19.5 percent for young high school graduates. Although these rates have come down from the peaks after the Great Recession, they are still elevated above their 2007 levels (5.5 percent for college grads and 15.9 percent for high school grads), which were already high compared to the more favorable rates seen in 1995-2000. The Class of 2015 joins a sizable backlog of unemployed college graduates from the last six graduating classes (the classes of 2009–2014) in a difficult job market. [...] The underemployment rate is 14.9 percent for young college graduates and 37.0 percent for young high school graduates. These numbers are elevated compared to their 2007 levels (9.6 percent for college grads and 26.8 percent for high school grads), which is a sign that many ...
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Poised for Prosperity? 16.5.2015 American Prospect
This article appears in the Spring 2015 issue of The American Prospect magazine.  Subscribe here . Celebrate our 25th Anniversary with us by  clicking here  for a free download of this special issue. History doesn’t repeat itself, but as Mark Twain famously suggested, it occasionally rhymes. About 15 years ago, I partnered with Janet Yellen—who has since gone on to bigger and better things—to write a short book titled The Fabulous Decade. The decade, of course, was the 1990s, or more specifically, the period beginning in 1992 or 1993 and ending in 2000—by common consent the most successful period in U.S. economic history since the 1960s. The questions for this article are whether, how, and to what extent current preconditions and policy settings resemble those that prevailed around President Bill Clinton’s inauguration day, whether the good times are about to roll again, and what policy adjustments may be needed to usher in a new period of prosperity. At first, these questions may seem preposterous. ...
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Growing pains: how eurozone economies are faring 13.5.2015 The Guardian -- World Latest

The latest figures show a mixed bag for European trading partners as France leads the way in growth and Greece plunges back into recession

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Chris Christie Wants To Expand Corporate Tax Breaks Without Any Proof That They Work 13.5.2015 Think Progres

Just before he called for cutting corporate tax rates across the country as part of a national economic policy plan, he vetoed a measure that would allow taxpayers to evaluate the if the subsidies are actually working.

The post Chris Christie Wants To Expand Corporate Tax Breaks Without Any Proof That They Work appeared first on ThinkProgress.

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Debunking the "Nation of Takers" Myth 12.5.2015 Truthout.com
A volunteer clears debris scattered around a burned CVS pharmacy in late April after protests in West Baltimore. (Photo: Gabriella Demczuk/The New York Times) Last year marked the 50th anniversary of the war on poverty in the United States, and the date provoked a flurry of studies correcting some widespread myths. Perhaps the most notable was an enlightening progress report from the Council of Economic Advisers. What needed correcting? Basically, the "nation of takers" narrative, according to which we have been contributing ever-greater sums toward helping the poor, all without making a dent in the poverty rate. The reality is that spending on "income security" - which includes virtually everything that you could construe as aid to people with low incomes, except Medicaid - has basically been flat for decades, with a temporary (and appropriate) spurt due to unemployment benefits and food stamps during the Great Recession. If you don't believe this, think about it: Where are these big anti-poverty ...
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Solid job gains indicate rebound for economy 9.5.2015 SFGate: Business & Technology
WASHINGTON — Rebounding from a dismal start to the year, the economy added 223,000 jobs in April, a solid gain that suggested that employers are helping fuel a durable if still subpar recovery. Investors breathed a sigh of relief Friday because the figures suggested an economic rebound from the January-March quarter — but one not so explosive that it would be expected to cause the Federal Reserve to raise interest rates from record lows anytime soon. Despite the jump in hiring in April, there are indications of a feast-or-famine job market, with some sectors vastly outperforming others. Construction has been gaining steam, thanks to a reasonably healthy housing sector and a spring rebound in hiring after winter weather forced some building projects to be delayed. [...] the professional and business services category has been strong, adding 62,000 jobs in April, reflecting financial sector strength and continued demand for college-educated, white-collar workers. [...] with oil prices way down from ...
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Jobs Growth Bounces Back In April, But Weakness Remains 8.5.2015 Outside the Beltway
The jobs market bounced back in April, but that's about all we can say.
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Rising Trade Deficit Slows Job Growth in Manufacturing 8.5.2015 Truthout.com
The Labor Department reported the economy created 223,000 jobs in April. This is disappointing since the already weak March number was revised down by 41,000 to 85,000. Since the March number was held down by unusually bad weather, it was reasonable to expect more of a bounceback in April. With the downward revision, the two-month average is just 154,000, a considerable falloff from last year's pace. There were few sectors showing much strength in the month. Professional and business services added 62,000 jobs, 20,700 of which were in the relatively high-paying professional and technical services sector. Construction added 45,000 after a reported loss of 9,000 in March. Health care added 45,200 jobs, up considerably from its average of 33,000 over the last year. Restaurants added 26,000 jobs after losing 7,400 jobs in March. Over the last year, job growth averaged more than 32,000 a month. The government sector added 10,000 jobs in April, reversing a loss of 9,000 jobs in March. Manufacturing employment ...
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US Employers Add 223,000 Jobs, Rate Falls to 5.4 Percent 8.5.2015 Inc
U.S. employers added 223,000 jobs in April, a solid gain that suggests the economy may be recovering after stumbling at the start of the ...
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GovBeat: Black unemployment is recovering. But only in states with the highest rates to begin with. 6.5.2015 Washington Post: Politics
There’s good news and bad news when it comes to the jobs recovery for the African-American community.First, the good: black unemployment has recovered in several states. The bad news? Those states had some of the highest black unemployment rates in the first place, according to a new report from the Economic Policy Institute.Read full article ...
For some long-term unemployed, hope arises: A job audition 6.5.2015 AP Business
WASHINGTON (AP) -- Bill Lewis was under more pressure than most new hires when he began a job in information technology last year in Monroe, Connecticut. Jobless for a year, he had eight weeks to persuade his employer to keep him and pay his salary....
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Some long-term unemployed find a lifeline: Auditions that offer a tryout for a permanent job 6.5.2015 Star Tribune: Business
Applications for unemployment aid plunge to 15-year low 30.4.2015 LA Times: Business
The number of Americans seeking unemployment aid plummeted to the lowest level in 15 years last week, evidence that employers are laying off few workers despite a sharp slowdown in economic growth.
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