User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Apr 27 2017 18:00 IST RSS 2.0
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Trump's tax-code plan is short on reform and long on tax cuts for the wealthy 27.4.2017 LA Times: Commentary

Treasury Secretary Steven T. Mnuchin laid out the Trump administration’s blueprint for tax cuts Wednesday, and like much of what the administration has done thus far, it was long on promises but short on detail and realism. We’d welcome White House leadership on a bipartisan effort to clean up...

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France's presidential election could help shape what's next for an often bitterly divided Europe 23.4.2017 L.A. Times - World News

For 44 million French voters, it is not just about choosing the person to lead them out of an economic downturn that has left them morose and frustrated, but whether that person also will take them out of Europe and bring about the collapse of the postwar European dream.

France goes to the polls...

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Headwinds and Tailwinds: Assessing the current economy 17.4.2017 Washington Post
Headwinds and Tailwinds: Assessing the current economy
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March retail sales fall, second straight month 14.4.2017 Salt Lake Tribune
Washington • Americans pulled back on their spending at auto dealers and restaurants in March, causing retail sales to drop despite signs of a healthy job market. Retail sales fell a seasonally adjusted 0.2 percent, the Commerce Department said Friday, after a revised 0.3 percent drop in February. But over the past 12 months, retail sales have risen 5.2 percent, a sign that that the economy remains on stable footing. Still, there are signs that consumers are growing more cautious even though the...
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Retail sales fall in March, second straight monthly drop 14.4.2017 LA Times: Business

Americans pulled back on their spending at auto dealers and restaurants in March, causing retail sales to drop despite signs of a healthy job market.

Retail sales fell a seasonally adjusted 0.2% last month, the Commerce Department said Friday, after a revised 0.3% decline in February. But over...

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Unemployment Falls to 4.5 Percent in Spite of Weak Job Growth 7.4.2017 Truthout - All Articles
The unemployment rate fell to 4.5 percent in March, its lowest level since May of 2007. The employment-to-population ratio also edged up to 60.1 percent, a new high for the recovery, but still more than 3.0 percentage points below its pre-recession level. However, the good news on the household survey was accompanied by weak job growth in the establishment survey. The economy added just 98,000 jobs in March. Job growth was also revised downward by 38,000 for the prior two months, bringing the three-month average to 178,000. There also has been some shortening of the average workweek. The index of aggregate weekly hours is unchanged from its January level. The strongest areas of job growth were restaurants (21,700), building support services (16,800), and health care (13,500). Mining also added 11,000 jobs, as did manufacturing. Retail was a big job loser in the month, shedding 29,700 jobs. This sector is likely to continue to show weakness as several major chains have announced plans to close a large ...
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Hiring slows sharply. Gov't says only 98,000 new jobs created in March. Unemployment falls to 4.5% 7.4.2017 Daily Kos
The Bureau of Labor Statistics announced  Friday in its regular monthly employment situation report that the U.S. economy generated 98,000 new jobs in March, 89,000 in the private sector, 9,000 in the public sector. It was the lowest gain since March 2015 and one of the lowest of the 8-year-old recovery, but the seasonally adjusted net gain still marked the 78th consecutive month of overall job growth. The headline unemployment rate—which the BLS labels U3 —fell slightly to 4.5 percent, the lowest level since December 2007, the first month of what came to be known as the Great Recession. The consensus of experts surveyed by Bloomberg in advance of the report had forecast a gain of 178,000 jobs. The BLS count always includes both full-time and part-time positions. A person who has worked even one hour a week during the survey period is counted as employed. In addition to the surprisingly low gains for last month, the bureau also revised its previous calculations for February from 235,000 to 219,000 and ...
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College grads stuck with low wages as hiring heats up 7.4.2017 Salt Lake Tribune
Connor Reyer gave up after more than a year of looking for a job in his preferred field of forest resources following graduation from the University of Georgia in Athens, finally opting in February for a hotel front-desk job paying $10 an hour. The relegation of college graduates to non-degree positions was once seen as a temporary blow for young people unlucky enough to graduate around the time of the deep 2007-2009 recession. Instead, millions of Americans like Reyer continue to face the same ...
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U.S. jobless claims fell to 234,000 last week 6.4.2017 Salt Lake Tribune
Washington • Fewer Americans applied for unemployment benefits last week, a sign of the job market appears to be increasingly secure for workers. THE NUMBERS: Weekly applications for unemployment aid plunged 25,000 to a seasonally adjusted 234,000, the Labor Department said Thursday. The four-week average, a less volatile measure, dipped to 250,000. Over the past year, the number of people collecting benefits had tumbled 7.2 percent to 2.03 million. THE TAKEAWAY: U.S. workers face a lower risk o...
US jobless aid applications fell to 234,000 last week 6.4.2017 AP Business
WASHINGTON (AP) -- Fewer Americans applied for unemployment benefits last week, a sign of the job market appears to be increasingly secure for workers....
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Trump Distorts Stimulus 6.4.2017 FactCheck

While calling for new infrastructure investments, President Trump distorted the facts about President Obama's 2009 stimulus bill. Trump described it as an "infrastructure bill" but "[n]obody ever saw anything being built" and most of the money was used on "social programs."

The post Trump Distorts Stimulus appeared first on

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Barriers to opportunity in today's America 3.4.2017 Washington Post
Barriers to opportunity in today's America
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Disabled or just desperate? Rural Americans turn to disability as jobs dry up. 30.3.2017 Washington Post
Across large swaths of the country, disability has reshaped scores of mostly white, almost exclusively rural communities, where as many as one-third of working-age adults live on monthly disability checks, according to a Post analysis. The increases have been worse in working-class areas, worse still in communities where residents are older, and worst of all in places with shrinking populations and few immigrants.
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Trump's unpopularity is historic — because it usually requires a war, a Watergate or a recession 30.3.2017 Washington Post: Politics
For the first time since World War II, we have an embattled president without a battle.
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Tech will lead to new sub-prime crunch 29.3.2017 TechCrunch
 In October 2016, two leading P2P platforms in the U.S. — Lending Club and Prosper — announced a new increase in interest rates for lower-grade loans. The decision was made in order to sustain investor demand. However, keeping the investor demand stable is not the only reason for recent changes — delinquencies are growing, especially when it comes to high-risk loans. Read ...
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The Fed's Interest Rate Hike Will Prevent People From Getting Jobs 20.3.2017
(Photo: Greg Dunlap ; Edited: LW / TO) This month the Federal Reserve Board raised interest rates for the third time in the last year and a half. This move did not get nearly as much attention as it deserves. The decision to raise interest rates was a conscious decision to slow the rate of economic growth and job creation. It will raise interest rates that people pay on credit cards, car loans, home mortgages and other types of debt. It will also raise the cost of borrowing for businesses looking to invest and state and local governments borrowing for infrastructure. As a result, we will see less spending and borrowing and therefore slower economic growth. The Fed is slowing the economy because it fears that too rapid growth will trigger inflation. I think this view is wrong, but before making the case it is worth making a couple of basic points about the logic of the Fed's rate hike. First, the Fed is raising interest rates because it is concerned that the economy is creating too many jobs. Last month, ...
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Why far-right populism hasn’t caught on in Spain 17.3.2017 The Moderate Voice

Europe’s far-right is on the rise. The trend is nationalist and anti-immigrant. Extremist parties are poised to make gains in elections across the continent, from France to Holland to Germany. But in Spain, no such movement has gained traction. And you’d think it would, given years of recession, high unemployment and an influx of foreigners. [...]

The post Why far-right populism hasn’t caught on in Spain appeared first on The Moderate Voice.

Interest rate hike by Federal Reserve is likely to be followed by two more this year 16.3.2017 LA Times: Business

Get used to rising interest rates, which would boost your return on savings but cost you more on a mortgage and credit cards.

After a recession-plagued decade in which the Federal Reserve pushed its benchmark short-term rate to near zero and then kept it there, central bank policymakers on Wednesday...

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Federal Reserve Raises Key Interest Rate, Signals 2 More Increases This Year 16.3.2017 NPR News
The Fed also said it is looking to increase rates three times in 2018, as inflation approaches the central bank's target annual rate of 2 percent and the unemployment rate appears stable.
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Slow burn 15.3.2017 BBC: Business
The US central bank takes another step towards ending the exceptional response prompted by the financial crisis.
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