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Showing blog posts tagged with unemployment

Iceland’s Recovery Proves Fallacy of Economic Austerity

As Greece teeters toward collapse because of austerity measures imposed upon it by international lenders, the current doctrine of cutting public employment and programs in the midst of an economic crisis perhaps deserves a reassessment.

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Economy Adds 80,000 Jobs, Jobless Rate Drops to 9%

The U.S. economy added just 80,000 jobs in October and the nation’s unemployment rate dipped slightly to 9 percent, down from September’s 9.1 percent, according to thelatest figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The nation’s economy needs 130,00-150,000 new jobs each month just to keep up with the influx of new workers. As economist Heidi Shierholz at the Economic Policy Institute (EPI) puts it: 

At this rate, the labor market will never start putting the backlog of nearly 14 million unemployed workers back to work.  In other words, given the enormous scope of the unemployment problem, this minimal level of job creation will keep us mired in disastrously high unemployment.

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Congress Responsible for 370,000 Job Cuts

Cuts instituted by Congress for the 2011 fiscal year eliminate some 370,000 jobs, while endangering the public and delaying necessary repairs and infrastructure work that will only be more expensive to complete in the future, according to a new report from the Center for American Progress (CAP).

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Median Income Sinks as Top Earners’ Increases

New figures on paychecks paint a grim picture for the average worker, while the ranks of those who annually make $1 million or more increased in 2010.

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For 99 Percent, No Recovery in Jobs or Income

The nation’s so-called economic recovery hasn’t been one for either job growth or income, according to two new reports out today.

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Economy Adds 103,000 Jobs But Jobless Rate Unchanged at 9.1 Percent

The U.S. economy added just 103,000 jobs in September and the nation’s unemployment rate remained at 9.1 percent, according to the latest figures released this morning by the U.S. Bureau of Labor Statistics (BLS) data  out this morning. Some 45,000 of those jobs, however, reflected Verizon workers’ return to work following a strike. According to Economic Policy Institute (EPI) economist Heidi Shierholz, at the current rate of job creation, “the unemployment rate will soon begin to rise again.”

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New Mexicans Up, Up and Away to Highlight Jobs Crisis

Andy Richards on our Field Communications staff files this report.

Wow! Take a look at these photos from the America Wants to Work event in New Mexico over the weekend!

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Here’s How to Make Wall Street Pay for Wrecking the Economy

Three years into the nation’s brutal recession, America’s workers continue to suffer from massive joblessness, skyrocketing foreclosures and weak buying power. But Wall Street—with corporations sitting on $2 trillion in cash—hasn’t paid for its role in causing the near-collapse of the U.S. economy.

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Corporations Backing New Trade Deals Outsourced 18,600 Jobs

Congress will soon consider three so-called free trade agreements (FTAs) between the United States and Korea, Colombia and Panama. Yet because these agreements do not include sufficient protections for workers, passage of these pacts would be a job-killing move at a time when more than 26 million Americans are unemployed, underemployed or have stopped looking for work.

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Median Income Down, Poverty Up

More troubling news on the downward economic spiral of America’s working families. In 2010, median household income declined and the poverty rate increased, according to U.S. Census Bureau data announced this morning.

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