User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Jul 06 2015 24:37 IST RSS 2.0
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Does Argentina Show Greece There May Be Life After Default? 5.7.2015 The Moderate Voice

As Greeks go to the polls today to vote in a referendum that could have huge consequences for their country and for all of Europe, Martin Guzman, writing in The Huffington Post’s World Post, argues that there can be life after default — and points to Argentina. Here are a few big chunks of it [...]

The post Does Argentina Show Greece There May Be Life After Default? appeared first on The Moderate Voice.

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Job market's new normal: Smaller workforce, sluggish pay 3.7.2015 AP Business
WASHINGTON (AP) -- Even after another month of strong hiring in June and a sinking unemployment rate, the U.S. job market just isn't what it used to be....
U.S. unemployment falls to 7-year low, but wages are flat 3.7.2015 Durango Herald
WASHINGTON – U.S. unemployment fell to a seven-year low of 5.3 percent and employers hired at a solid pace in June, but other gauges of the job market drew a bleaker picture: A wave of people stopped looking for work, and paychecks failed to budge.The figures released Thursday capture the persistently uneven nature of the recovery...
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World economy: The hidden rocks 3.7.2015 BBC: Business
The issues posing the greatest risks to the world economy
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Experts give their take on jobs, Fed and financial markets 3.7.2015 AP Business
NEW YORK (AP) -- If investors hoped Thursday's U.S. jobs report would give them clarity, they were probably disappointed....
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Government reports 223,000 new jobs created in June. Official unemployment rate falls to 5.3% 2.7.2015 Daily Kos
The federal government reported Thursday that the United States completed its 57th consecutive month of job growth in June, the 64th consecutive month of private sector job growth. According to the Bureau of Labor Statistics, the economy created 223,000 new, seasonally adjusted, private non-farm jobs in June. Government added no new jobs. The count includes both full- and part-time jobs. Wages were flat. The BLS notes that the "monthly change in total nonfarm employment from the establishment survey is on the order of plus or minus 90,000." That means the "real" number of new jobs created in June wasn't 223,000 but somewhere in a range between 133,000 and 313,000. That range illustrates why every month's BLS revisions of the two previous months can be so large. The bureau found that job growth in the previous two months was 60,000 less than previously counted as it revised April's previous count of new jobs from 221,000 to 187,000 and May's from 280,000 to 254,000. That puts the monthly average for the ...
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Greece faces a future as Europe’s outcast – a yes vote is the only solution| Christopher Pissarides 2.7.2015 Guardian: Comment is Free
The eurozone was wrong to force fiscal austerity on its members at a time of recession, but its creditors offer a better option than the Greek government Greece is going through difficult times and the eurozone is facing its biggest crisis since it was created 15 years ago. Both sides can be blamed for the current impasse. Greece ran big deficits before the financial crisis of 2008 to finance consumption that it could not afford. It failed to reform its economy to increase the productivity of its labour force and improve its international ...
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What crisis? Stronger banks, economies ease fear over Greece 2.7.2015 AP Business
The prospect of a Greek crackup isn't so terrifying anymore....
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The Federal Reserve Board, Jobs and the Rewriting of Economic History 29.6.2015 Truthout - All Articles
Former US Federal Reserve Chairman Alan Greenspan. (Photo: Rob Crandall / ) The support of readers like you got this story published - and helps Truthout stay free from corporate advertising. Can you sustain our work with a tax-deductible donation today? As most people know, economists are good at rewriting history. We have seen this in the last few years as the collapse of the housing bubble and the ensuing downturn has been turned into one of those unavoidable tragedies that could not have been prevented. After all, no one could have imagined that house prices wouldn't keep going up forever or that anything bad might happen if prices actually fell. In reality it was possible, and in fact easy, for those who pay attention to data to know that house prices would fall and that the consequences for the economy would be very bad . But most discussions of the crisis treat it as a natural disaster like Hurricane Katrina, and absolve the economists in policy positions from any ...
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Puerto Rico in crisis: weighed down by $73bn debt as unemployment hits 14% 28.6.2015 The Guardian -- World Latest

Violent crime is surging, schools are closing and physicians are leaving in droves – but on the mainland, there is little awareness of the island’s struggles

Viewed during a drive along the northeast region of Puerto Rico, the Caribbean landscape, usually a festival of lush greenery, is dotted with trees withering from a month-long drought. Dust blown from the Sahara in northern Africa has dulled the bright sun with a haze that shrouds everything in uncharacteristic gray.

The darkening skies mirror the bleak outlook of an island that US law calls a unincorporated territory and others call one of the world’s last colonies. Puerto Rico is floundering under $73bn in debt and a rapidly deteriorating ability to pay.

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Massive warehouse plan has Moreno Valley divided over jobs, environment 28.6.2015 LA Times: Top News
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Greece is being blackmailed. Exiting the eurozone is its way out | Costas Lapavitsas 25.6.2015 Guardian: Comment is Free
Instead of acceding to the troika’s devastating demands, Syriza should free the country from the trap of the common currency – if the Greek people agree A few days ago the Greek government submitted a list of proposals hoping to break the deadlock with the “institutions” – the European Commission, the International Monetary Fund and the European Central Bank. The government basically agreed to tough primary surpluses: 1% in 2015 and 2% in 2016. To achieve these targets it proposed to raise VAT on a range of widely consumed goods as well as imposing a host of taxes on enterprises and families of “high” income. It also proposed substantial savings on pensions. The measures added up to roughly €8bn over 2015-16, and would be immediately implemented. The package is certainly deflationary at a moment when the Greek economy is again on the threshold of recession. There is little doubt that it would contribute to output contraction and higher unemployment in 2015-16, particularly as there is little prospect of ...
Creditors' economic plan for Greece is illiterate and doomed to fail 23.6.2015 The Guardian -- World Latest
The troika’s austerity policies have already failed twice, and once again they will only make the severe economic problems that Athens faces worse The troika plan for the Greek economy has already failed twice, and it will fail for a third time if the economically illiterate plan being foisted on Athens is adopted. Greece requires growth and debt relief, but the proposals currently being discussed provide neither. As usual, the International Monetary Fund, the European commission and the European Central Bank will come up with forecasts showing that the latest set of austerity measures will boost confidence, promote investment, stimulate growth and lead to lower unemployment. As usual, they will be wrong. The recession will deepen and the crisis will ...
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A shield against poverty, pensions are Greece's top priority 23.6.2015 AP Business
ATHENS, Greece (AP) -- Looking tired and leaning on his cane, Fotis Theodorakopoulos watched quietly as other demonstrators gathered to discuss Greece's financial drama and chant defiant slogans outside the parliament....
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As Greece stares into the abyss, has Spain escaped from crisis? 20.6.2015 The Guardian -- World Latest
Three years ago the country faced an Athens-style bailout. Now the shadow of collapse has lifted - but the young and jobless are still struggling Daniel Roman is feeling upbeat. Six months ago, the 38-year-old sommelier opened a small wine shop in the Mercado de la Cebada, a covered market in Madrid’s trendy La Latina neighbourhood. “I’m confident,” he says, as he serves two elderly customers from the counter. “Opening here was the natural next step for me. I’ve always wanted to build something of my own.” The statistics would indicate he has every reason to feel cheerful. Spain’s economy appears to be emerging at full throttle from one of the longest and deepest recessions it has ever suffered. An IMF report said growth by the end of this year will be a startling 3.1%, leading to job creation, and, in theory at least, a better standard of living for Spaniards who have suffered crippling levels of unemployment and decline over the lastseven ...
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Crisis-hit Europeans: Greece must knuckle down like they did 19.6.2015 AP Business
LISBON, Portugal (AP) -- Europeans in countries which adopted unpopular austerity measures to overcome the recent financial crisis are starting to reap the rewards, even if times are still hard for many and numerous factors are playing a role in the recovery....
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Fed downgrades its economic outlook but expects a rate hike this year 18.6.2015 LA Times: Top News
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Trump Tramples Facts 17.6.2015 FactCheck
Real estate developer Donald Trump's speech announcing he is running for the Republican nomination for president contained a number of false and misleading statements on the economy, trade, health care and terrorism.
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The Fix: Donald Trump’s spectacular, unending, utterly baffling, often wrong campaign announcement 16.6.2015 Washington Post: Politics
Nothing in Donald Trump's funhouse-mirror presidential campaign announcement on Tuesday made sense. Why did he ride down the escalator to get there? Why did he pick Neil Young for his entrance? Why did Neil Young play again over the tepid applause that greeted his official announcement? And: Why did he stray so far from his already-amazing prepared remarks?Read full article ...
LearnUp, A Startup Aimed At Boosting Job Prospects For Entry-Level Workers, Partners With Old Navy 11.6.2015 TechCrunch
 When Alexis Ringwald exited her last energy startup, the U.S. labor market was still in the long hangover after the Great Recession. The country’s unemployment was about double what it is today and millions of had lost their jobs in the wake of the financial crisis and housing crash. So Ringwald went on a long listening tour over six months. She visited unemployment centers… Read ...
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