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Showing blog posts tagged with long-term unemployment

Here’s What We’re Reading: Friday News Roundup

Here’s What We’re Reading: Friday News Roundup

Here are some headlines from the working families’ news we're reading today (after the jump).

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What Can We Learn from the Long-Term Unemployed in the New York City Metro Area?

Photo via Wikimedia.

Among the problems that we as a nation have been grappling with since the end of the Great Recession, which ended in 2009, is the persistence of unemployment or, more specifically, long-term unemployment. It has been commonplace to assume that long-term unemployment is because of structural change, which has resulted in a skills mismatch. There is no question that structural changes in the economy mean that jobs that were eliminated—because of shocks from the financial crisis, which led to downturns in the business cycle—are not coming back. But this may assume too much. On the contrary, the principal issue is the depth of the recession, which has led to a severe decrease in aggregate demand for goods and services.

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Sequestration’s Knife Cuts Long-Term Unemployment Benefits

Think Progress illustration

It’s tough enough being out of work and forced to rely on none-too-generous unemployment insurance benefits, but now thanks to sequestration, long-term jobless workers are seeing a reduction in their lifeline benefits.

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Millions of Unemployed Workers Face Threat of Jobless Aid Cutoff

Photo by Blue Jay Day/Flickr

Nearly 2 million long-term jobless Americans will lose their unemployment insurance lifeline just days after Christmas if Congress doesn’t act to renew the federal unemployment insurance program for job seekers out of work six months or longer. The program expires at the end of the year. Christine Owens, executive director of the National Employment Law Project (NELP), says if long-term jobless aid ends,

The basic economic security floor will be ripped from under two million unemployed workers.

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June Jobs Grew by 80,000, Unemployment Rate Stays at 8.2%

Sierra Romero

The number of new jobs rose by 80,000 in June and the unemployment rate stayed at 8.2 percent, according to Bureau of Labor Statistics data out this morning. The boost in jobs is less than the 100,000 needed per month to keep up with the growing workforce, and far short of what’s needed to replenish the millions of jobs that have never been regained since the recession’s onset.

Private employment, which excludes government agencies, increased by 84,000 in June, the weakest in 10 months. In fact, the number of those working for public-sector jobs decreased by 4,000.

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Older Workers Have Highest Long-Term Jobless Rate

Older workers who lose their jobs have the highest rate of long-term unemployment compared to any other age group. In 2011, more than half of jobless workers, ages 50 years and older, were out of work for more than six months. The trend continues this year. Christine Owens, executive director of the National Employment Law Project (NELP), told the Senate Special Committee on Aging this afternoon:

The prospects are dim for older workers who lose their jobs.

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Dean Baker: Auto Manufacturing Gives Big Boost to Jobs Growth

We asked economist Dean Baker, co-director of the Center for Economic and Policy Research (CEPR), to expand upon recent reports that show a marked improvement in the nation’s jobs picture. In January, 243,000 jobs were created and unemployment dropped significantly for some of the hardest-hit workers. Baker’s intepretation of the data presents a still-mixed economic picture, but one bright point stands out clearly: President Obama’s support of the U.S. auto industry has been key to improving job creation for America’s workers. Be sure to pick up a copy of Baker’s latest book, The End of Loser Liberalism: Making Markets Progressive.

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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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Jobs, Anyone?

Roughly half of the workers who lost jobs during the recession are employed (51 percent), about one-third are unemployed (33 percent) and the remainder are not in the labor force, according to survey results released Sept. 1 by Rutgers University’s Heldrich Center for Workforce Development. Carl Van Horn, director of the Heldrich Center and a co-author of the study, said, “The workers we surveyed, who represent the views of millions of unemployed Americans,

are eager—if not desperate—for the government to create policies that will bring down high unemployment and grow the economy.

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ZERO Jobs Added in August, Jobless Rate Stays at 9.1%

The U.S. economy added no jobs in August—that’s ZERO jobs—and the nation’s unemployment rate remained at 9.1 percent, according to U.S. Bureau of Labor Statistics data out this morning.

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