Job Market Monitor
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US / Estimates of the unemployment rate in December 2013 and December 2014
The following table is an estimate of the unemployment rate in December 2013 and December 2014 assuming the LFPR stays close to the current level of 63.3% (I looked at 63.0%, 63.3% and 63.6%). The current unemployment rate is 7.5%. Chosen excerpts by Job Market Monitor via Calculated Risk: Labor Force Participation Rate Sensitivity. Related … Continue reading
India / U.S. firms have generated 350,000 jobs between 2007 and 2011
Painting a buoyant picture of the Indo-U.S. trade ties, Jennifer McIntyre, Consul-General of the U.S. Consulate General in Chennai, has said the bilateral trade in goods and services between the two countries has increased by four-and-a-half times in the last decade. Addressing members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here … Continue reading
US / Unemployment Insurance / Claims drop back
SEASONALLY ADJUSTED DATA In the week ending May 18, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 23,000 from the previous week’s revised figure of 363,000. The 4-week moving average was 339,500, a decrease of 500 from the previous week’s revised average of 340,000. The advance seasonally adjusted insured unemployment … Continue reading
US / Youth Unemployment Will Cost $18 Billion Over The Next Decade
America has a youth unemployment problem, and it’s not just the kids who are suffering. The nation is poised to lose $18 billion in wages over the next decade due to high youth unemployment, according to a Bloomberg Brief from Bloomberg Senior Economist Joseph Brusuelas. Brusuelas estimated that about 1.3 million 16- to 24-year-olds have … Continue reading
US / Suburban poverty soars
Poverty is growing faster in the suburbs than anywhere else in the United States, soaring 64% over the past decade. That was more than twice the growth rate of the urban poor population, according to the Brookings Institution, which has released Confronting Suburban Poverty in America. There are now almost 16.4 million suburban residents living … Continue reading
UI in US / Expanding the definition of misconduct
Traditionally, unemployment benefits can go to any laid-off employee not guilty of “misconduct.” By law, simple failure to meet production quotas, for example, cannot be deemed misconduct unless it represents a “willful and wanton” refusal. In the past two years, however, four states have rewritten their laws to vastly expand the definition of misconduct. In … Continue reading
US / The problem is the duration of unemployment benefits, not the duration of unemployment writes Alex Brill
For many who have been jobless for over six months, finding employment is difficult if not impossible. According to economists Rand Gayad and William Dickens, employers become less and less likely to hire people who are unemployed for six months or more. In short, the extravagant duration of unemployment benefits in the last five years … Continue reading
US / Student Financial Aid / Neediest students to pay more than their families’ yearly earnings
“With their relentless pursuit of prestige and revenue, the nation’s public and private four-year colleges and universities are in danger of shutting down what has long been a pathway to the middle class for low-income and working-class students” writes Stephen Burd in Undermining Pell - How Colleges Compete for Wealthy Students and Leave the Low-Income Behind … Continue reading
US / Jobless claims jump at the fastest pace in six months
The number of Americans filing new claims for unemployment benefits climbed last week at the fastest pace in six months, a worrisome sign for the economy which has been hit by government austerity. Initial claims for state unemployment benefits jumped by 32,000 to a seasonally adjusted 360,000, the Labor Department said on Thursday. That was … Continue reading
US / Student Debt has generated nearly $120 billion to the Education Department over the last five fiscal years
The Obama administration is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets. Figures made public Tuesday by the Congressional Budget Office … Continue reading
