Teen Unemployment Hits Record 25%

Columbus, Indiana, and Casper, Wyoming top employment list

(NEWSER) - Recession—that's a big-city thing, right? Several mid-size cities around the US are making an argument for their economic superiority, boasting job growth higher than the 1.5% national average in 2011. You may not know these cities well, but the Christian Science Monitor recommends them:

1. Columbus, Indiana: No, not Ohio's Columbus: Indiana's version had 10% growth from 2009 to 2010, making it the best economic rebounder during the Great Recession. Jobs are up 6.4%.

In part because they have to be

(NEWSER) - The good news is that at least one segment of the population has seen its employment statistics actually rise in this economic downturn. The bad news? That segment is older Americans, many of whom are only working because they're afraid they don't have enough savings to retire, the Washington Post reports. Since the start of the recession, the number of workers aged 55 and older has shot up by 3.1 million, or 12%. More»

Jobless apparently using fund as a last resort

(NEWSER) - The ranks of Americans collecting Social Security Disability Insurance payments have swelled dramatically in recent years, and that may be because more people are turning to the program when they can’t find work, the Wall Street Journal reports. Some 10.6 million Americans are now on the program, compared to 7.2 million in 2002. And one recent study shows that the jobless are much more likely to enter the program after they’ve used up their unemployment benefits. More»

Forecast sees it at 8.6% at end of 2012

(NEWSER) - If President Obama were hoping for a quick election-year turnaround in the jobless rate, the Federal Reserve burst his bubble today. The Fed projected unemployment will be at 8.6% at the end of 2012, not much better than the 9.1% registered in September of this year, reports the Wall Street Journal . The projections don't get remarkably better after that: The Fed sees the rate at 8% by the end of 2013 and 7.7% the following year. More»

...Unless you were a millionaire

(NEWSER) - The Social Security Administration quietly released payroll data for 2010 yesterday, and they were “in a word, awful,” writes David Cay Johnston at Reuters —assuming you’re not a millionaire, that is. The number of people making at least $1 million rose by 20%, jumping from 78,000 to almost 94,000. But for everyone else, there were fewer jobs and they paid less. The median paycheck fell 1.2% to $26,364, or $507 a week, its lowest level, adjusting for inflation, since 1999. More»