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Showing blog posts tagged with unemployment

House Passes Lopsided Budget Deal

House Passes Lopsided Budget Deal

In a 332–94 vote, the U.S. House passed a bipartisan budget deal Thursday night that averts another government shutdown and temporarily relieves some sequestration budget cuts but leaves long-term jobless workers out in the cold and inflicts further harm on federal workers, who have sacrificed more than enough to budget-cutting already.

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The Correct Answer

Photo courtesy albertogp123

This time of year college students cram for final exams. They get graded in a very stark right-or-wrong fashion. Splitting the difference between a bad guess and the right answer is not rewarded. Unfortunately, Washington is locked in such a crazy struggle. Five years after Wall Street’s fall, the economy still is more than 1 million payroll jobs short of where things stood at the last peak of the labor market. Median household income is still below the peak, meaning more than half of America's households are behind where they were five years ago. The poverty level of America’s children is higher, and state and local revenues only recovered last fiscal year, leaving hundreds of thousands of fewer teachers and larger class sizes for our children. Our nation’s total output is more than $1 trillion less than where it would be if we could get to full employment. Clearly, the right answer to this set of problems is for massive government action to kick start the economy to address the woes of the American people.

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3 Million Face Loss of UI Lifeline

3 Million Face Loss of UI Lifeline

If Congress doesn’t extend the current extended federal unemployment insurance (UI) program by the end of the year, 1.3 million jobless workers will be cut off from UI the week of Dec. 28. Nearly 1.9 million more would lose the extended UI during the first half of 2014 as their state benefits run out.

But with only nine days left on the House legislative calendar before the congressional holiday recess, a group of lawmakers issued an urgent call Wednesday to reauthorize federal jobless aid for the long-term unemployed, as Rep. Sandy Levin (D-Mich.) and Sen. Jack Reed (D-R.I.) announced new legislation to renew federal unemployment insurance through 2014.

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Jobless Rate Dips to 7.2% with Disappointing 148,000 New Jobs in September

Photo credit: AFGE photo/Flckr

The nation’s economy added 148,000 new jobs in September, compared to 169,000 jobs created in August. The 7.2% jobless rate is slightly down from August’s 7.3%, according to figures released this morning by the U.S. Bureau of Labor Statistics.

While today’s report reflects 42 straight months of job growth, the pace is weak, sluggish and just enough to absorb new entrants into the market and makes little dent in the jobs deficit.

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Jobless Numbers Raise Concern on Job Growth

Jobless Numbers Raise Concern on Job Growth

The nation’s economy added 169,000 new jobs in August and the 7.3% jobless rate is down slightly from July’s 7.4%, according to figures released this morning by the U.S. Bureau of Labor Statistics.

The new jobs added were 65,000 more than the 104,000 new jobs in July (revised downward from the 162,000 originally reported), and this is the 41st straight month of tepid job growth—growth is at a rate too slow to fuel a healthy jobs recovery.

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Jobless Rate Drops to 7.4%, but Job Growth Still Lags

Photo by Steve Rhodes/Flickr

The nation’s economy added 162,000 new jobs in July and the jobless rate dropped to 7.4% from June’s 7.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics.

William Spriggs, AFL-CIO chief economist, said today’s job numbers “continue to show a very mild recovery, but they fell below expectations and are disappointing.”

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