Unemployment
Hope and Change in Action:Record number of young Americans jobless
The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.
Teenagers have found it significantly harder to get a job since the recession began in late 2007, with black youths […]
New jobless claims rise ‘more than expected’, Retail sales sink
Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as […]
Unemployment Report:We Didn’t Lose 85,000 Jobs, We Lost 1 Million
As if the headline number weren’t bad enough, David P. Goldman points out that things were much worse:
A far more disturbing number (in Table A-1 of today’s BLS release) shows that “persons not in the labor force” increased by about 840,000 between November and December, from 83,022 to 83,865. That’s seasonally-adjusted; unadjusted, the number is […]
Woman Moves from Unemployed to Business Owner in a Few Months
Standing in her new art gallery, The Dooryard Gallery, Dorothy Nowack is surrounded by two of her loves: art and nature.There will be kinks in the day-to-day operations to work out, she knows, but she has big plans for the future. Maybe an art festival that will bolster Elm Grove as a cultural destination, she […]
Layoffs:Lockheed Martin to cut 1,200 jobs (Hope and Change 2010 Edition)
Defense contractor Lockheed Martin said Wednesday it plans to cut 1,200 jobs to lower costs as it combines two units.
The cuts amount to less than 1 percent of the company’s total work force of about 140,000. The company says employees who will lose their jobs will be notified by early April.
(Excerpt) Read more at news.yahoo.com […]
20 million-plus collect unemployment checks in ‘09
WASHINGTON (AP) - A record 20 million-plus people collected unemployment benefits at some point in 2009, a year that ended with the jobless rate at 10 percent.
As the pace of layoffs slows, the number of new applicants visiting unemployment offices has been on the decline in recent months. But limited hiring means the ranks […]
Detroit’s unemployment rate is probably near 50 percent
The Detroit News’ Mike Wilkinson has an eye-opening story on how unemployment rates generally under-report true joblessness — and specifically how this is happening in Michigan’s largest city.
The story points out that Detroit’s official unemployment rate of 27 percent (as of October) may be dramatically under-counting those without work in the economically-strapped city. The actual […]
So far, Obama Administration spent $246,436 to create one job (Liberals believe in “Give a man a fish” and not “Teach a man how to fish”)
The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration’s recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! […]
Unexpected drop in jobless rate sparks optimism
WASHINGTON (AP) — A surprising drop in the unemployment rate and far fewer job losses last month cheered investors Friday and raised hopes for a sustained economic recovery.
The rate unexpectedly fell to 10 percent, from 10.2 percent in October, as employers cut the fewest number of jobs since the recession began. The government also said […]
Porkulous V2.1:Job proposals from Democrats could add $300 billion in new federal spending
The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.
Lawmakers are calling for extending aid to the unemployed, infrastructure spending, a hiring tax credit and increased small business loans.
A number of the jobs proposals backed by Democrats […]
34.5 percent of young African American men are unemployed (95% of Blacks Voted for Barack Hussein Obama. So Blacks should not blame their annointed)
These days, 24-year-old Delonta Spriggs spends much of his time cooped up in his mother’s one-bedroom apartment in Southwest Washington, the TV blaring soap operas hour after hour, trying to stay out of the streets and out of trouble, held captive by the economy. As a young black man, Spriggs belongs to a group […]
ABCNEWS: Obama Admin Slashed 60,000 Jobs From Recent Stimulus Report
The Obama administration, under fire for inflating job growth from the $787 billion stimulus plan, slashed over 60,000 jobs from its most recent report on the program because the reporting outlets had submitted “unrealistic data,” according to a document obtained by ABC News.
The Office of Management and Budget document shows that before an Oct. 30 […]
JP Morgan To Hire 1200 Loan Officers (JPM)
Surely you can peddle loans to unqualified consumers? Looking for a job on Wall Street? Lucky for you, JP Morgan has just announced it will be hiring 1200 new loan officers by the end of 2010. Presumably, your job will be peddling subprime loans to people making a combined family income of less than $25,000 […]
HOPE AND CHANGE? O YEAH: UNEMPLOYMENT RATE 10.2% HIGHEST IN 26 YEARS (Welcome to the Era of Hype and Spin)
WASHINGTON (AP) — The unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.
Nearly 16 million people can’t find jobs even though the worst recession since the Great Depression has apparently ended. Many economists worry that persistently high unemployment could undermine the recovery by restraining consumer […]
Yahoo News:Productivity gains may be bad news for job seekers
Companies across the economy are finding ways to do more with fewer workers, dimming hopes that hiring will take off anytime soon.Employers became leaner and more efficient in the third quarter. Wages, meantime, remain flat or falling. The result is that productivity — output per hour of work — jumped at the fastest pace in […]
Obama warns more job losses coming (Welcome to the Nation of Hope and Change)
U.S. President Barack Obama said on Monday that more U.S. jobs will be lost in coming weeks and months but stressed the economy has recovered a lot of ground since he took office in January.
Speaking at a White House meeting of his Economic Recovery Advisory Board, Obama said the current pace of job losses was […]
Obama Wrestling With Jobs Outlook (Unemployment is Liberals’ best friend)
White House economist Christina Romer, in remarks that ratcheted up the administration’s pessimism, told a congressional panel Thursday that “labor market conditions will remain painfully weak through 2010.” She said that the jobless rate, which hit 9.8% last month, would likely remain “at its severely elevated level” for at least another year.
In testimony before the […]
Spain Jobless Rate Stays At 17.9% (America will soon catch up)
Spain Jobless Rate Stays At 17.9%
Spain’s unemployment rate is the highest in the EU
Spain’s unemployment rate has remained at 17.9% in the third quarter, the highest in the European Union.
The number of jobless now stands at 4.1 million, the country’s statistics agency said.
The Spanish unemployment rate had risen for the previous eight quarters after […]
Jobless claims rise ‘more than expected’…
The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain reluctant to hire even with the economy showing signs of recovery.
Source: Yahoo News
7 Months After Stimulus 49 of 50 States Have Lost Jobs (6 Million Jobs Shy of Administrations’ Projections)
America Now Over 6 Million Jobs Shy of Administration’s Projections
Wednesday, October 21, 2009
The table below compares the White House’s February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures […]