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Click here to visit the new home of Politics Daily!WASHINGTON -- Republicans won dozens of elections last fall after claiming Democrats had focused too little on creating jobs. Now GOP lawmakers stand accused of the same charge, using their new House majority to push to repeal the president's health care law, restrict abortions and highlight other social issues important to their most conservative supporters. Republican leaders say they have a jobs agenda, kicked off by their attempt to unravel what they call the Democrats' "jobs-killing" health overhaul. Democrats scoff at this notion, and they're hounding Republicans to show how they can ...
ANALYSIS (Dec. 3) -- The dissatisfying job numbers for November don't just represent one bad month of meager payroll expansion and snowballing unemployment. They paint the picture of a sputtering economy still so weak nearly a year and a half into a recovery that long-term high unemployment seems an increasingly likely prospect. And they do so at a time when Democrats and Republicans in Washington seem no closer to bridging their differences on how to improve the situation. Charles Dharapak, AP Vice President Joe Biden, center, Treasury Secretary Timothy Geithner, left, and Budget ...
(Dec. 3) - The economy added just 39,000 jobs in November -- substantially less than expected. And the jobless rate rose to 9.8%. The report shows that despite a year of GDP growth, America still hasn't overcome its worst job drought in decades. ...
(July 2) -- Friday's jobs report, which showed that the economy gained just 83,000 private-sector jobs in June, is further evidence of the anemic pace of this recovery. After the last severe recession in the early 1980s, the economy grew 5 percent, 9 percent, 8 percent and 8 percent in the first four quarters of recovery, adding about 100,000 new jobs per month (relative to a much smaller labor force 30 years ago). Assuming the economy bottomed early in the third quarter last year, growth this time has been only about 3 percent, 5 percent and 3 percent in the first three quarters, and this ...
(June 9) -- Last week's Labor Department report showing that 411,000 of 431,000 new jobs created in April were for short-term census workers was just one more reason for despair. The number of long-term unemployed -- people out of work for 27 weeks or more -- remains at its worst since the government began collecting such data in the 1940s. And unless we begin to pursue a comprehensive set of new economic strategies, we face the very real possibility that long-term joblessness may become a structural problem. Despite recent suggestions of "green shoots," the facts remain grim. During this ...
(April 14) -- Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday that a host of indicators show the U.S. economic recovery began in the second half of last year, but joblessness will grind on for some time. ...
Top forecasters are encouraged by the U.S. economy, according to a new survey of 48 economists by the National Association for Business Economics, CNN Money reports. The group predicted that the economy will grow 3.1 percent in 2010 and 2011 -- just slightly lower than their prediction in November. Corporate earnings will grow 15 percent, spurring hiring and eventually driving household spending. "Businesses are in position to take up some of the slack because of rebounding profits," said the association's president, Lynn Reaser. "Our economists believe improvement in sales and profits will ...
The U.S unemployment rate unexpectedly dropped from 10.0 percent to 9.7 percent in January, according to numbers released Friday by the Department of Labor. Overall, employers cut about 20,000 jobs. The January rate was the lowest since August of last year. Two sets of numbers were released today, one derived from employers and the other from a sampling of households. A survey that went into the calculations found that American households with full-time employment increased by 541,000 last month. Economists said that the drop in the unemployment rate was caused by people finding jobs rather ...
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