Labor & Economic News Blog
Tuesday, December 22, 2009
Cobra extension a big help for joblessCobra extension a big help for jobless
Congress extends time people can sign up for healthcare subsidy and adds six months of subsidies.
Friday, December 11, 2009
High Rates of Joblessness and the DeficitHigh Rates of Joblessness and the Deficit
Isabel Sawhill reacts to President Obama's speech on creating jobs and the economy, delivered at Brookings. She concludes that by proposing and then enacting key fiscal restraints now and then gradually phasing them in as the economy recovers, there need be no te
Thursday, December 10, 2009
Unemployment Insurance Weekly Claims Report [12/10/2009]Unemployment Insurance Weekly Claims Report [12/10/2009]
In the week ending Dec. 5, the advance figure for seasonally adjusted initial claims was 474,000, an increase of 17,000 from the previous week's unrevised figure of 457,000. The 4-week moving average was 473,750, a decrease of 7,750 from the previous week's revised average of 481,500.
Creating Jobs in the RecessionCreating Jobs in the Recession
During testimony before a subcommittee of the Senate Committee on Banking, Housing and Urban Affairs, Bruce Katz highlighted six strategies to stop additional job losses and build a lower-carbon, innovation-fueled and export-oriented economy. He emphasized that national recovery will be metropolitan-led but will vary across metropolitan areas—the building blocks of the U.S. economy.
Wednesday, December 09, 2009
High unemployment: A fact of life for American IndiansHigh unemployment: A fact of life for American Indians
In Economic Performance, Recession/Stimulus, Race and Ethnicity, Economic Status, Wages and Living Standards, Jobs, Unemployment Insurance
Changes Needed to Reduce Volatility in California's Workers' Compensation Insurance MarketChanges Needed to Reduce Volatility in California's Workers' Compensation Insurance Market
California's workers' compensation insurance market will remain vulnerable to wide swings in performance unless changes are made to improve the predictability of costs, transparency of pricing decisions, regulatory oversight and consistency of the incentives facing different parties.
Tuesday, December 08, 2009
The Meaning of the Jobs ReportThe Meaning of the Jobs Report
Martin Baily examines the latest jobs report, concluding that it was much better than expected and hence increases the chances that a strong or at least solid recovery is underway. However, he cautions that it is too early to be sure and another few months of good reports are needed before optimism carries the day.
Monday, December 07, 2009
Unemployment Statistics on Older Americans : Updated 12/09Unemployment Statistics on Older Americans : Updated 12/09
The recession has increased joblessness among older Americans. These graphs and tables report unemployment rates and how they have varied by age, sex, race, and education since 2007.
The Improving Labor Market May Be Worse than You ThinkThe Improving Labor Market May Be Worse than You Think
In light of November's unemployment report, which showed the unemployment rate down 0.2 percent and payrolls remaining essentially flat, Ben Harris and William Gale explain that although the numbers are improving, it is important to recognize the labor outlook for what it is: possibly the worst we’ve seen in at least 60 years.
Friday, December 04, 2009
Current Employment Statistics Latest NumbersCurrent Employment Statistics Latest Numbers
Change in Payroll Employment:
-11,000(p) in Nov 2009
Change in Average Hourly Earnings:
+$0.01(p) in Nov 2009
Change in Average Weekly Hours:
+0.2(p) in Nov 2009
Change in Manufacturing Average Weekly Hours:
+0.3(p) in Nov 2009
Change in Aggregate Hours Index:
+0.6(p) in Nov 2009
Change in Real Earnings:
unchanged in Oct 2009
Podcast: The November Unemployment Report and What it Means for the EconomyPodcast: The November Unemployment Report and What it Means for the Economy
The jobs report for November is discussed by Chief Economist, Chad Stone. Duration: 4:05
Statement: Chad Stone, Chief Economist, on the November Employment ReportStatement: Chad Stone, Chief Economist, on the November Employment Report
Today’s report that the pace of job losses has dramatically abated is the most encouraging in a long time, but serious problems remain for unemployed job-seekers. The number of people who have been unemployed for 27 weeks or more continued to climb in November, and these long-term unemployed now are nearly 40 percent of total unemployment (see chart). Renewing the temporary assistance for unemployed workers scheduled to expire in less than a month and providing …
Positive News in the November Employment ReportPositive News in the November Employment Report
In a very gloomy year for America’s job market, the November employment report is the best one we’ve seen in a long time. The big news is that the unemployment rate is down. Gary Burtless examines the implications of the complete report.
Thursday, December 03, 2009
New CBO Report Finds Recovery Act has Preserved or Created up to 1.6 Million JobsNew CBO Report Finds Recovery Act has Preserved or Created up to 1.6 Million Jobs
A new Congressional Budget Office (CBO) report estimates that the American Recovery and Reinvestment Act (ARRA) had preserved or created between 600,000 and 1.6 million jobs as of September. This estimate by Congress’ non-partisan economic and budget analysts is more comprehensive than the 640,000 jobs that ARRA recipients reported in late October, CBO explains. ARRA Also Prevented Even Deeper Recession, CBO Finds CBO also concluded that ARRA boosted economic activity …
Around the Halls: How Do We Create Jobs?Around the Halls: How Do We Create Jobs?
As the Obama administration hosts economists, academics and corporate executives at a White House "jobs summit" to consider how the government can spur job creation, scholars from around the halls of Brookings suggest a range of ideas from revisiting the National Infrastructure Bank to more investment in education and training.
Wednesday, December 02, 2009
Examining Economic Mobility in AmericaExamining Economic Mobility in America
Examining the barriers to economic mobility in America, Ron Haskins and Isabel Sawhill discuss the alarming unemployment rate and the extent of poverty in America and the distinct challenges facing immigrant families and African-American children.
Tuesday, December 01, 2009
How Well Have Middle Class American Families Accumulated Wealth? : Net Worth over the Life Cycle between 1989 and 2007How Well Have Middle Class American Families Accumulated Wealth? : Net Worth over the Life Cycle between 1989 and 2007
Many commentators have worried about the low savings rates and high debt levels of American families. Does this picture of unbridled consumption and low asset accumulation fit the American family? Did declines in 2008-2009 house prices, stocks, and bonds reinforce stagnating wealth or offset previous growth in wealth? Using data from the 1989, 1998, and 2007 Surveys of Consumer Finances (SCF) to replicate family experiences over the life cycle by following age cohorts, this fact sheet shows that from 1989 to 2007 American families were accumulating wealth at a healthy rate as individuals and families moved through their life cycle.