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Category Archives: unemployment
Home Sales at Lowest Level in More Than a Decade – NYTimes.com
Housing sales in July plunged to their lowest level in more than a decade, exceeding even the grimmest forecasts.
The National Association of Realtors said Tuesday that the seasonally adjusted annual sales rate of 3.83 million was 25.5 percent below the level of July a year ago.
July was the first month that buyers could not qualify [...]
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Tagged Great Recession, Housing Market, unemployment, Unexpected
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Passengers Say Steve Slater, JetBlue Flight Attendant, Started the Fray – WSJ.com
A passenger on the JetBlue fight from which attendant Steven Slater disembarked Monday by activating the emergency chute and sliding down with beers in hand said Mr. Slater, apparently after being hit in the head by a passenger, was the one who instigated the confrontation that led to his now-famous exit.
Marjorie Briskin, a 53-year-old schoolteacher [...]
Noticed – In Park Slope, Sidewalk Entrepreneurs Grow Up – NYTimes.com
IT’S an indelible image of summer: lemonade and cookies on a folding table on the sidewalk, a jar crammed with dollars, passers-by smiling politely.
A 40-year-old man selling lemonade.
Whether a sign of recession, regression or both, a handful of adults in the Park Slope section of Brooklyn have gotten into the lemonade-stand business this summer. Add [...]
Youth Unemployment Hits Record High – CNBC
Global youth unemployment has hit a record high following the financial crisis and is likely to get worse later this year, the International Labor Organization ILO said Thursday.
The report from the ILO says 81 million out of 630 million 15-24 year olds where unemployed at the end of 2009, some 7.8 million more than at [...]
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Tagged flash mobs, Greek Riots, Inland Empire, serial killers, UN International Youth Year, unemployment
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Stock market: Stocks dive sharply after flurry of bad news on global economy – latimes.com
Reporting from New York —
A growing list of bad news about the global economy led stocks to fall sharply Wednesday.
The Dow Jones industrial average dropped 265 points, or 2.5%, to 10,378.83, with most of the decline in share prices coming early in the day.
Overnight, international stock markets fell after the Chinese government announced that growth [...]
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Tagged Banksters, depression, Dow Jones Drop, Great Recession, Stock Market Crash
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Jobless and Staying That Way – NYTimes.com
Professor Gordon doesn’t foresee a quick turnaround. But the Obama administration predicts that unemployment will drop to 8.7 percent by the end of next year, and eventually sink to 6.8 percent by the end of 2013.
To reach that level, the economy would have to add nearly 300,000 workers a month over the next three years, [...]
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Tagged Adult Conversation, New Normal
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Comparisons to the Great Depression keep popping up – USATODAY.com
NEW YORK — The images of bread lines, dust storms and squatters’; camps are missing in the aftermath of the worst financial crisis since the Great Depression. Stocks have rebounded sharply from the 12-year low hit in March 2009 during the Great Recession. The U.S. economy, while still sluggish, is growing again. And fears of [...]
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Tagged Great Depression, Great Recession, Tom Joad
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Op-Ed Contributor – Four Deformations of the Apocalypse – NYTimes.com
If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon [...]
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Tagged Bush Tax Cuts, David Stockman, Great Recession, One World Government, peak oil, starve the beast, Supply Side, Voodoo Economics
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Homes keep falling into foreclosure as programs fail to help | McClatchy
WASHINGTON — More than three years into the housing crisis that helped trigger a worldwide recession, the torrid pace of home foreclosures continues to tear at the core of the American dream.
New figures Thursday from Realty-Trac showed that foreclosure activity declined over the first six months of the year in nine of the 10 large [...]
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Tagged EPCOT, Florida and California, foreclosures, Geodesic Dome, housing crisis, Ukulele
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Subtle Shift Within Fed Toward Deflation Concerns – NYTimes.com
Starting in 2007, the Fed lowered the benchmark short-term interest rate all the way to zero and pumped some $2 trillion into the economy with an array of emergency loans and purchases of government debts and mortgage bonds.
Those purchases were phased out in March, but there is now talk within the Fed of resuming them. [...]
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Tagged Brotherhood of Darkness, Dark Lords, Fear, Federal Reserve, reptillian, Winston Churchill's Dentures
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Breaking Impasse, Senate Extends Jobless Benefits – NYTimes.com
WASHINGTON — The Senate cleared the way Tuesday for more unemployment pay to reach millions of Americans who have been out of work for six months or more as the Democratic-led Congress pruned one more item off the list of issues it hopes to tackle in an intensely polarized election year.
Minutes after Carte P. Goodwin [...]
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Tagged asshole, Democrat, DSM IV, Great Recession, Republicans, Sociopath, unemployment
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Staring Down Desperation | CommonDreams.org
Some Republicans and economists have even argued that the time has come to end the extensions, which they say is providing incentives to turn down work.
“If the goal is to get people back to work, why tie the money to the condition that you stay unemployed?” said David Tuerck, executive director of the conservative Beacon [...]
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Tagged David Tuerck, Mark Zand, Moody's Analytics, unemployment
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lebrons-limited-economic- impact: Personal Finance News from Yahoo! Finance
At least two studies have shown that there’s little to no net positive economic impact from sports teams on metropolitan areas. The main reason is simple: people who travel to the city to eat, drink and be entertained would have spent much of that money on the same activities in the same region. What revenue [...]
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Tagged economy, LeBron James, Miami Heat, Stadium
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Presenting The Wall Of Worry: The 50 Ugliest Facts About The US eCONomy | zero hedge
As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report. After reading these it almost makes sense that the market has become completely desensitized to the [...]
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Tagged economy, Great Recession, Gulf of Mexico, unemployment
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Officials and Scientists Spar Over Plan to Block Oil’s Approach – NYTimes.com
With oil hitting Barataria Bay, a vast estuary in southeast Louisiana that boasts one of the most productive fisheries in the country, local parish officials hatched a plan in May to save the fragile ecosystem: they would build rock dikes across several major tidal inlets between the bay and the Gulf of Mexico to block [...]
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Tagged BP Oil Spill, Gulf Oil Spill, unemployment
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Wal-Mart Is at the Center of a Major Legal Battle Over Pot Patients’ Rights | | AlterNet
Joseph Casias was wrongfully fired by Wal-Mart for testing positive for pot. Now the ACLU has filed a landmark lawsuit against the retailer that could alter the legal landscape
July 5, 2010 |
Earlier this week in Michigan, the ACLU filed a lawsuit against Wal-Mart that has significant implications for the thousands of seriously ill Americans [...]
Decline in Labor Force Leads to Drop in Unemployment | Jobs Bytes
The June drop in hours suggests that hiring will slow further.
The Labor Department reported that 652,000 people left the labor force in June, causing the unemployment rate to edge down to 9.5 percent, even as the number of employed reportedly dropped by 301,000. The establishment survey showed a gain of 100,000 jobs, excluding the [...]
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Tagged Great Recession, unemployment
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With the US trapped in depression, this really is starting to feel like 1932 – Telegraph
Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing QE, and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.The share of the US working-age population with jobs in June actually fell from 58.7pc to 58.5pc. This is the real [...]
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Tagged Collapse, depression, Great Recession, Harvard, Ivy League, State University
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