Wanted: Female Bloggers Not Afraid of Math

(NEWSER) - The lousy unemployment numbers released this week—and they're bound to get worse before they get better—cast the effectiveness of the Obama administration’s fiscal plans into doubt, analysts say. The stimulus package intended to “save or create” 3.5 million jobs now has to keep up with 4.4 million jobs lost since the recession began. “I hate to break it to you,” one economist tells the Washington Post. “It’s not going to be enough.” More»

Even more layoffs will be needed before stimulus works: CEO

(NEWSER) - Caterpillar's CEO said the stimulus package would let the company start rehiring laid-off workers, according to President Obama—but he was swiftly contradicted by the boss himself, ABC News reports. CEO James Owens said that even with the stimulus package, the massive scale of the downturn would require the firm to lay off even more workers before it can start to hire again. More»

Interest in small business is booming as unemployment rises

(NEWSER) - The pink slips are flowing, but that’s not halting thousands from using severance packages and savings to found their own businesses, the Christian Science Monitor reports. The new gigs often bear little resemblance to past ones—one Wall Street exec now walks dogs—and differ from the economy at large: Small businesses have been “more resilient” in creating new jobs, says one economist. More»

His 92.3% number is technically correct, but missing context

(NEWSER) - As part of his recent bid to appeal to women, Mitt Romney deployed what he called an "amazing statistic," saying that "92.3% of all the jobs lost during the Obama years have been lost by women." If that made your eyebrows climb your forehead, you're not alone. The AP's fact checkers looked into the statement, and found that while it's technically true, it's also truly misleading. More»

New York comptroller predicts blow to economy

(NEWSER) - It looks like a lot of Wall Street denizens will be joining the ranks of the unemployed soon, New York’s state comptroller warns in a report released today, predicting that the securities industry will shed nearly 10,000 jobs by the end of 2012. The industry has already cut 4,100 jobs since April, and deeper cuts are likely inevitable, as several companies have announced that they’re cutting costs, the Wall Street Journal reports. More»