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FRIDAY, NOVEMBER 20, 2009
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NEWS ABOUT: unemployment

unemployment stories: 315 news summaries

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 AOL to Lay Off a Third of Staff 

Roughly 2300 will get the boot after spin-off

Nov 19, 09 8:13 AM CST
(AP) - AOL says it plans to cut about a third of its work force once it is spun off from Time Warner. That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling company. AOL said in a securities filing today it will impose the cuts... More »

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Time Warner • AOL • unemployment • job cuts

Nouriel Roubini

Forget the Rosy Stats:
The Little Guy Is in Bad Shape

Economy far worse off than statistics indicate

Nov 18, 09 1:34 PM CST
(Newser) - Don’t believe the rosy official statistics; for most Americans, the economy is in incredibly bad shape, according to the economist some call “Dr. Doom.” We’re looking at a tale of two economies, Nouriel Roubini writes in the Globe and Mail . For top businesses, it’s... More »

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economic indicators • consumer confidence • unemployment • consumer spending • economy • underemployment • Nouriel Roubini

 Dems Switch Focus to Jobs 

House aims to have job creation package ready by Xmas

Nov 17, 09 7:35 AM CST
(Newser) - House Democrats hit by accusations they've been focusing on health care at the expense of employment plan to tackle job creation in the coming weeks. There's no consensus on whether the move will come as one big package or a series of smaller measures but Democratic leaders plan to have... More »

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Nancy Pelosi • Harry Reid • unemployment • House Democrats • economic stimulus package • job creation • unemployment rate

paul krugman

 It's About the Jobs, Stupid 

The US needs to create work for Americans

Nov 13, 09 8:20 AM CST
(Newser) - The US has to shake up conventional thinking and create jobs for out-of-work Americans, writes Paul Krugman . Our current misguided thinking—as evidenced by unemployment north of 10%—isn't so much a jobs policy as GDP policy. "If you grow it, they will come," goes the philosophy. Get... More »

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recession • unemployment • economy • unemployment rate

9 Other States Have Calif.-Sized Fiscal Messes

Ariz., Fla., Ill., Mich., and NJ among others facing crises

Nov 11, 09 8:14 PM CST
(Newser) - California has by no means cornered the market on enormous financial problems at the state level, with a report out today saying Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, and Wisconsin are also at tremendous risk. The Pew Center sees widespread unemployment, huge budget deficits, and the... More »

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Florida • California • Wisconsin • Arizona • New Jersey • Michigan • foreclosure • recession • Oregon • unemployment • Illinois • Nevada • Rhode Island • budget deficit • financial crisis

Hard Times Catch Up with Well-Heeled Jobless

Generous severance packages start to sputter

Nov 11, 09 7:07 AM CST
(Newser) - Time and money is finally beginning to run out for large numbers of people who lost their jobs, and have been living off hefty severance packages for up to two years. Many workers who received generous exit packages from the financial and auto industries kept on spending the way they... More »

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unemployment • auto industry • financial sector • severance pay • auto worker

MARKETS

 Dow Up 17 as 
 Jobs Stats Stall Stocks 

Stock indexes finish week up 3%

Nov 6, 09 3:09 PM CST
(Newser) - Stocks rose slightly today after analysts upgraded GE—a striking sign of confidence, given the troubles at its finance arm over the previous year. But any enthusiasm was tempered by the news that unemployment hit 10.2% in October, the highest level since 1983.
  • The Dow rose 17.46
... More »

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Dow Jones • General Electric • unemployment • Nasdaq • S&P 500 • jobless • unemployment rate

megan mcardle

Expect Unemployment
to Keep Rising

Companies still aren't sold on a long-term recovery

Nov 6, 09 11:33 AM CST
(Newser) - Anyone hoping that today's worse-than-expected news of 10.2% unemployment means we've hit rock bottom is going to be disappointed, writes Megan McArdle . "This figure is likely to get worse before it gets better." Companies need more proof of a long-term recovery before committing to new hires. In... More »

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recession • unemployment • economy • recession depression • jobless • unemployment rate

 Unemployment Jumps to 10.2% 

Companies cut 190,000 jobs last month

Nov 6, 09 7:50 AM CST
(Newser) - Unemployment cracked the 10% barrier last month, as 190,000 workers lost their jobs, according to Labor Department figures released today. The bigger-than-expected losses bring the rate to 10.2%, a 26-year high. And the underemployment rate, which includes would-be full-timers working part time and those who've given up looking... More »

MORE ABOUT:
recession • unemployment • Department of Labor • payrolls • economy • underemployment • unemployment rate

PAUL KRUGMAN

Dems Will Regret Not Being Bolder on Economy

Voter backlash is about failure to lower unemployment

Nov 6, 09 6:48 AM CST
(Newser) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when... More »

MORE ABOUT:
recession • unemployment • US economy • Paul Krugman • economic stimulus package • Obama administration • President Obama • election day November 2009

ROBERT REICH

Hey Blue Dogs, We Need a Second Stimulus

Rising unemployment makes it essential

Nov 4, 09 5:51 PM CST
(Newser) - The ever-worsening employment situation demands a second stimulus, writes former Labor Secretary Robert Reich . Yes, the first stimulus is only half-spent, but the remaining programs won’t affect mounting job losses. Blue Dog Democrats, worried about the deficit and 2010 elections, will be hard-pressed to support a second round, but... More »

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Barack Obama • employment • deficit • unemployment • Robert Reich • Blue Dog Democrats

ANALYSIS

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

Oct 29, 09 8:07 PM CDT
(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and... More »

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recession • unemployment • consumer spending • economic stimulus package • consumer confidence index • US gross domestic product • financial crisis • Cash for Clunkers • disposable income

 SC Hopes Its Dumb Pols 
 Don't Hurt Economy, Too 

Jokes are bad, but Sanford, Wilson messes could scare off more business

Oct 21, 09 7:41 PM CDT
(Newser) - The fact that two of its more prominent politicians—Gov. Mark Sanford and Rep. Joe Wilson—are the butt of recent political jokes is no laughing matter in South Carolina, where memories of the fight over flying the Confederate flag are still scaring off business and tourism. The firestorm around... More »

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South Carolina • unemployment • Confederate flag • political scandal • Mark Sanford • financial crisis • Joe Wilson

 Pay Cuts: America's New Norm 

Nine straight months of declining pay sets new record

Oct 14, 09 7:49 AM CDT
(Newser) - In previous recessions, layoffs were the principal way for employers to cut costs—pay cuts were seen as demoralizing and a sure-fire way to lose workers to other jobs. But now pay cuts, sometimes in the form of demotions or shortened workweeks, are more common than at any time since... More »

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wages • recession • unemployment • pilot • furlough • pay cut

 Economy Sparks 
 Record Military 
 Recruitment 

Bleak employment, bonuses boost numbers to highest level since draft ended

Oct 14, 09 3:41 AM CDT
(Newser) - The recession has helped boost the US military to its best recruitment year since the post-Vietnam switch to an all-volunteer force. Recruiters hit or exceeded all their targets for the first time since 1973, surprising even Pentagon officials. In addition to rising unemployment, recruiting was helped by bonuses, a recruiting... More »

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Army recruiting • US military • recruitment • US Army • unemployment • military recruits • Defense Dept

MARKETS

 Dow Up 61 on 
 Strong Earnings 

Weekly unemployment claims fall to lowest level since January

Oct 8, 09 3:14 PM CDT
(Newser) - Stocks closed below their session highs but still finished in positive territory after Alcoa set a strong tone for the third-quarter earnings season. The firm posted a $77 million profit after the bell yesterday. Also helping was good news on the jobs front, with last week’s initial claims for... More »

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Dow Jones • Alcoa • unemployment • Nasdaq • S&P 500

Tax Breaks for New Jobs
Gain Bipartisan Support

But some dismiss move as 'corporate welfare'

Oct 7, 09 7:46 AM CDT
(Newser) - Support is building in Washington for the idea of giving companies tax breaks when they hire new workers. President Obama’s economic team has been exploring the possibility for weeks, and lawmakers on both sides of the aisle like the idea of helping unemployed constituents. “There’s a lot... More »

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unemployment • Robert Reich • tax breaks • corporate tax cuts • Obama administration • payroll taxes • Eric Cantor

OPINION

 Put New 
 Stimulus 
 to Work for 
 Unemployed 

Painful 'new normal' isn't good enough

Oct 7, 09 2:08 AM CDT
(Newser) - Economists are buzzing about a "new normal" of higher unemployment and wage stagnation post-recession, but Americans shouldn't resign themselves to a mediocre economy, writes Harold Meyerson. Downturns triggered by banking crises usually cause higher rates of unemployment for longer periods than normal downturns, but the cycle can be broken... More »

MORE ABOUT:
recession • unemployment • US economy • New Deal • economic stimulus package • job creation

 Obama Mulls 
 Tax Cuts, 
 Spending to 
 Goose Economy 

Grim jobs outlook spurs talks on new stimulus measures

Oct 6, 09 5:52 AM CDT
(Newser) - The Obama administration is examining new ways to boost the economy amid troubling unemployment statistics. The White House and Democratic leaders in Congress are considering strategies that include new transportation spending and an extension of tax credits for first-time homebuyers and small businesses struggling with operating losses. A proposal to... More »

MORE ABOUT:
employment • recession • unemployment • US economy • economic stimulus package • Obama administration

ANALYSIS

 Many Jobs Are Gone Forever 

Employment picture likely to remain grim for years, and predicting winning industries is a challenge

Oct 5, 09 2:28 PM CDT
(Newser) - The job market is likely to be grim for years to come—economists expect that even if job creation returned to the brisk pace of the ‘90s, unemployment wouldn’t return to 5% until 2017. And for many of the unemployed, the numbers belie the real problem: The positions... More »

MORE ABOUT:
health care • employment • recession • unemployment • job • job creation • green jobs • recession depression

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