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Winter Weather Isn't What's Ailing a Sick Jobs Economy
By Joseph Schuman - AOL NewsAmid some awfully wicked weather, the U.S. economy last month eked out a feeble number of new jobs, and hundreds of thousands of Americans stopped looking for work, which paradoxically contributed to a drop in the unemployment rate. But today's weak report from the Labor Department wasn't the result of a wintry economic cold. Rather, it was just the latest symptom of the long-term labor market affliction that has yet to evolve into a sustainable recovery. In responding to the news, Austan Goolsbee, the chief economic adviser to President Barack Obama, called the economic trends of recent ...
A New Year Surprise: Jobless Rate Falls to 9 Percent
By not in system - AOL NewsThe unemployment rate dropped sharply last month to 9 percent, the lowest level in nearly two years. But the economy generated only 36,000 net new jobs, the fewest in four months. ...
Pain of the Jobless Belies Rosier Economic Outlook From Bernanke
By Joseph Schuman - AOL NewsThe U.S. economy is doing better -- unless you're out of work or worry about the cost of buying gasoline and putting food on your table. That was an unspoken bottom line of Federal Reserve Chairman Ben Bernanke's speech today at the National Press Club in Washington, where he asserted that the U.S. economic recovery is back on track and that the emergency measures taken by the Fed are working. "Overall," Bernanke said, "improving household and business confidence, accommodative monetary policy, and more-supportive financial conditions, including an apparent increase in the willingness of ...
Ignore Your Inner Cynic and Vote on Tuesday
By Donna Trussell - Politics Daily"Tribute to Her," uploaded to the Internet on Nov. 7, 2008, is a slideshow of Election Day photographs. YouTube member SailorBrownie described her post as a "dedication to all those Black Americans who went out on Tuesday and voted. We made history." While it's not altogether clear who is the "Her" in the title of the video, it might as well be the woman collapsed on the floor in tears. A girl nearby touches her cheek with a little confusion and a lot tenderness for the woman who is, most likely, her mother. The pictures are set to the Beatles song, "Blackbird" -- a good choice, considering ...
Jobless Claims Fall to Two-Month Low
By not in system - AOL News(Sept. 16) -- Initial jobless claims fell to a two-month low of 450,000, confounding analyst expectations. Jobless claims dipped 3,000 in the week ending Sept. 11, the Department of Labor said. The revised figure for the previous week was 453,000. Analysts polled by Reuters forecast claims rising to 460,000. ...
Unemployment Rate Rises to 9.6 Percent
By not in system - AOL News(Sept. 3) -- The unemployment rate rose in August for the first time in four months as weak hiring by private employers wasn't enough to keep pace with a large increase in the number of people looking for work. The Labor Department says companies added a net total 67,000 new jobs last month, down from July's upwardly revised total of 107,000. Wall Street analysts expected a smaller gain, according to Thomson Reuters. ...
Glenn Beck Blasts 99er Movement
By Steven Hoffer - AOL News(Aug. 19) -- Glenn Beck probably won't be joining a 99er protest anytime soon. On Monday, the Fox News television commentator lambasted the 99er movement -- composed of the 1.4 million long-term unemployed Americans who have exhausted the full 99 weeks of emergency federal unemployment aid -- for not seeking out work and being "socialist and anti-capitalist." After explaining the plight of the 99ers and showing footage of a recent 99er demonstration on Wall Street, Beck offered the unemployed workers his two cents. "Don't spend your remaining money on travel to get to a protest," he said. ...
Christina Romer Quits Council of Economic Advisers; Sources Cite 'Frustration'
By Alex Wagner - Politics DailyTwenty months into her role as the chair of the Council of Economic Advisers, Dr. Christina Romer is leaving the White House to return to her position as a professor of economics at the University of California, Berkeley. While the official White House press release states that Romer is stepping down to return to her family (her son will be starting high school in the fall), sources inside the White House said privately that Romer had been "frustrated" in the job, and that tensions over the slow pace of the nation's economic recovery had created tension among staff members. President Obama, ...
Republicans to the Unemployed: You're Lazy
By Donna Trussell - Politics DailySalt, meet wound. Wound being unemployment, and salt being the suggestion that the worst economy since the Great Depression was created by its powerless victims -- the jobless. Republicans, do tell: If so many jobs are ripe for plucking, explain the five applicants for every job. (Down from six a few months ago. Oh joy.) Why would anyone believe unemployment is voluntary when there is so much evidence to the contrary? The answer is surprisingly simple: Because that belief makes them feel good. Life is not fair, we learned in childhood. Apparently we never got over it. The psychology term ...
Calif. Town Tops Roll Call of Climbing US Jobless Rates
By Joseph Schuman - AOL NewsSAN DIEGO (June 2) -- The Southern California town of El Centro suffers the worst unemployment rate in the nation, with nearly 28 percent of its work force without a job, the Labor Department announced today. It was the low point of a report that showed jobless rates are up across the U.S. The report on April unemployment in 372 metropolitan areas suggests that California continues to be the state hardest hit by the epidemic of joblessness that followed the 2008-2009 financial crisis. It's home to 11 of the 14 U.S. metro areas that posted unemployment rates greater than 15 percent. (See how ...
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