User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Mar 26 2015 20:42 IST RSS 2.0
 
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Black America Is Still In A Deep Recession 26.3.2015 Think Progres

The black unemployment rate is higher today than the national rate at the worst of the recession.

The post Black America Is Still In A Deep Recession appeared first on ThinkProgress.

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Merger momentum keeps on rolling with Heinz deal for Kraft 26.3.2015 AP Business
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Lessons from the 1937-38 recession 25.3.2015 Washington Post: Op-Eds
How fast should the Federal Reserve tighten monetary policy? Should it tighten at all? I recently wrote about these issues but didn’t have the space to explore a fascinating aspect of the debate: the mostly forgotten 1937-38 recession. To many, it’s a cautionary tale against adopting tighter policies too soon. The latest to sound the alarm is Ray Dalio, the respected founder of Bridgewater Associates, a huge hedge fund group. His recent memo to clients inspired a Page 1 story in the Financial Times, headlined “Dalio warns Fed of 1937-style rate risk.”Read full article ...
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Ireland’s economy ‘starting to fire on all cylinders’, says IMF report 25.3.2015 The Guardian -- World Latest

Annual assessment of Irish economy shows healthy economic growth despite high unemployment and widespread mortgage arrears

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Talk of interest rates cut alludes to scarring from the global financial crisis 20.3.2015 The Guardian -- Front Page
Andrew Haldane has raised the prospect of a permanent period of weak earnings growth that locks in low wages, low inflation and low interest rates It’s a pretty extraordinary prospect. Britain has been out of recession for more than five years, is the strongest growing economy in the G7 and, if you believe George Osborne, is walking tall again . Yet Andrew Haldane, the chief economist of the Bank of England, believes the next move in interest rates may be down rather than up, and in the right circumstances can envisage himself voting to cut official borrowing costs from ...
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Federal Reserve signals an interest rate rise by midyear 19.3.2015 SFGate: Business & Technology
WASHINGTON — The Federal Reserve signaled Wednesday that it would consider raising its benchmark interest rate at its June meeting, the first increase since the recession, but the central bank emphasized that it might still delay the decision. The Fed’s announcement, in a statement issued after a two-day meeting of its policymaking committee, moved the central bank to the verge of ending a period of more than six years in which it has held short-term interest rates near zero. Unemployment remains above its normal levels in a healthy economy, and the Fed acknowledged in its statement that inflation has sagged even further below the 2 percent annual pace it regards as most desirable. [...] it said the Fed will act “when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.” While officials continue to anticipate a rate hike in the coming months, the average prediction of the 17 officials who ...
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Six budget graphs you need to see 18.3.2015 The Guardian -- Front Page

Here are six key graphs to consider as George Osborne presents his latest spending and savings plans, and growth forecasts, in his pre-election budget

GDP up 0.5%: recovery is on track & plan is protecting Britain from the economic storm. 2.6% growth in 2014 fastest of any major economy

Zero-hours workers earn nearly £300 a week less than permanent employees http://t.co/HOjzFOj7Nn

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Wage growth slows in Britain but unemployment falls 100,000 18.3.2015 The Guardian -- Front Page

Office for National Statistics said average earnings, excluding bonuses, grew at an annual rate of 1.6% in the three months to January

Earnings growth for Britain’s workers has slowed, undermining George Osborne’s hopes of stoking up the feelgood factor in the runup to May’s elections.

On the day the chancellor delivers his pre-election budget, official figures showed that while unemployment has continued to fall rapidly over the past three months, wage growth has faltered.

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Percentage of out-of-work Americans receiving unemployment compensation now a paltry 23.1 13.3.2015 Daily Kos
Thanks to cutbacks in nine states in the past three years and an end to federal extensions of the program in 2013, the percentage of out-of-work Americans receiving compensation from unemployment insurance is at its lowest level since the 1970s. According to a new study by Will Kimball and Rick McHugh at the Economic Policy Institute: By December 2014, only 23 out of every 100 jobless workers were getting state UI benefits. Because there were federal benefit extensions in place in 1983 and 1984, this means that those exhausting UI benefits in 2014 had less protection from income loss than any cohort of jobless individuals exhausting state UI benefits for several decades. [...] Compared with previous recessions, the U.S. labor market in 2014 is at a point in the recovery when we would expect benefit recipiency rates to fall from their peak levels. What stands out about the current low recipiency levels is the degree of their decline and the extremely low levels to which some individual states’ recipiency ...
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In good times, Minnesota shifts focus to training workers 13.3.2015 Minnesota Public Radio: Politics
Now that most employers are adding jobs, state lawmakers and the governor are focusing on a host of ideas and programs designed to ensure that Minnesotans are ready to work.
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Why salaries don’t rise 12.3.2015 Washington Post: Op-Eds
Job creation is up. Unemployment is down. Wages are stagnant. And economists — well, some economists — are confused.Tighter labor markets are supposed to give workers more bargaining power. To be sure, there are still millions of Americans who left the workforce during the recession and have yet to return; employers’ knowledge of their absence is probably holding wages down. But at the rate that new jobs are now popping up, we should, by all conventional metrics, be seeing at least some increase in Americans’ take-home pay.Read full article ...
Job loss leads to decade of distrust 11.3.2015 New Kerala: World News
Read Full story of 'Job loss leads to decade of distrust' at newkerala.com.
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Cheers and Jeers: Monday 9.3.2015 NewsTrust Yahoo Pipes Feed
From the GREAT STATE OF MAINE… Row Row Row Your Boat America didn’t just lose an hour of sleep yesterday. I'm here to break the news that we also lost Rush Limbaugh. In keeping with the promise he made on March 8, 2010 … "If [Obamacare] passes and it's five years from now and all that stuff gets implemented, I am leaving the country. I'll go to Costa Rica." …the king of modern-day conservatism climbed into a rowboat and left for good. The humble craft of an overrated bloviator. I know some people say he chickened out by immediately claiming he didn't really mean it. But the thing is, everyone knows Rush is a rock of certainty, who says what he means and means what he says. He don’t chicken out on nothin', and certainly not his vow to chicken out on challenging the tyranny of affordable private-sector health insurance by fleeing the country. So we wish the King of the Dittoheads well in his new digs. We look forward to his expat broadcasts from that distant and exotic land, and we salute him for putting ...
Puerto Rico fights tax evasion as it seeks new revenue sources 8.3.2015 Star Tribune: World
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Economic building blocks 8.3.2015 Washington Post: Editorials
IF ANYONE still has doubts as to the strength of the U.S. economic recovery, the federal jobs report for February should dispel them. Over the last year, the private sector has added 3.2 million jobs, powering a 1.2 percentage point decline in the unemployment rate, which now stands at 5.5 percent of the labor force. The only worry in this otherwise robust picture is that the plunging jobless rate — 5.5 percent is at or near the level members of the Federal Reserve board consider “full employment” — creates a bit of a dilemma about what policymakers should do next. Specifically, is it finally time for the Fed to abandon the zero-interest rate policy that it has pursued since December 2008?Read full article ...
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More Jobs, Less Inflation Drive Down 'Misery' — So Where's The Joy? 7.3.2015 NPR News
With unemployment dropping, the "misery index" is at its lowest level in more than 50 years. So why aren't Americans feeling cheerful? Economists say meager wages and big debts are still problems.
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As the U.S. economy adds jobs, more workers holding on to their cash 7.3.2015 Washington Post
The United States is adding jobs at its best pace in two decades, new government data showed Friday, with a 12-month hiring spree that has trimmed the unemployment rate to its lowest since the Great Recession.Read full article >>
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Economy is picking up, but wages aren't 7.3.2015 Star Tribune: Business
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Amid a robust February jobs report, concern over stagnant wages 7.3.2015 LA Times: Business
The economy showed surprising strength last month in the face of a ports slowdown on the West Coast, severe winter weather in the Northeast and a rising dollar overseas.
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The Guardian view on the generation gap: youth clubbed | Editorial 7.3.2015 Guardian: Comment is Free
All the data points to a widening economic chasm between the cohorts. Britain is no country for young men or women Slowly but surely, the uncomfortable facts concerning Britain’s generational gulf are sinking in. The younger generation suffered four times the unemployment of the old during the slump, and – in the present recovery – are now more likely than the middle-aged to toil without any security, on zero-hours contracts . The wages of youth fell further and faster during the downturn, and this week’s Institute for Fiscal Studies figures suggesting that average living standards have at long last bounced back from the crisis, came with the caveat that twentysomethings are still 8% poorer than they were when the crunch came. For the thoughtful left, such statistics are beginning to challenge the old assumption that class must always be the only social divide that counts. But for the thoughtful right too – with its traditional regard for family, and the stewardship of resources for the next generation – ...
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