Volunteer Boom Becoming a Burden

Uncertainty is the 'new normal' in America

(NEWSER) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down 20% since 2005; even assuming 2% inflation, it would take 13 years for the market to reach pre-crisis levels. Everywhere, offices sit empty. More»

(NEWSER) - If you’re the glass-half-full type, recent economic indicators look good: Unemployment fell last month, the savings rate is up, and productivity hit a 6-year high. But that same data proves that ordinary people aren’t likely to feel the good vibrations anytime soon, the Washington Post reports. “It's going to be a recovery only a statistician can love,” said a Wells Fargo economist. More»

Middle-aged workers hurt as unemployment hits 70-year high

(NEWSER) - Typically it’s the young who lose their jobs in a recession, but not in the current slowdown. Aging white workers at the theoretical peak of their earning power are losing their jobs this time around—and they can’t find new ones, USA Today reports. The jobless rate for white men over age 55 is at its highest level since the Great Depression, hitting a record 6.5% in the second quarter. More»

Unemployment straining friendships

(NEWSER) - The onetime small-talk staple “So, how's the job going?” is liable to get you into trouble these days, reports Newsweek. Rising unemployment is straining friendships as the haves learn to interact with the have-nots. Among 30- and 40-somethings, discussing luxurious vacation plans is not a good idea, and for the 50-plus set, retirement talk is strictly off-limits. More»

California, Michigan, South Carolina and Rhode Island lead jobless statistics

(AP) - Four states—California, South Carolina, Michigan, and Rhode Island—registered unemployment rates above 10% in January, and the national rate is expected to hit double digits by year-end. The US Labor Department's report on state unemployment, released today, showed the increasing damage inflicted on workers and companies from a recession now in its second year. More»