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Quarterly National Accounts – GDP Growth – Fourth Quarter 2011, OECD
Provisional estimates show that quarterly gross domestic product (GDP) growth in the OECD area decelerated sharply to 0.1% in the fourth quarter of 2011, against 0.6% in the third quarter. Source: oecd.org Quarterly National Accounts – GDP Growth – Fourth Quarter 2011, OECD.
A new jobs program for people trapped in unemployment – CBS News
We’ve seen some improvement in the job market lately. But there’s something stubborn about unemployment. Never in the last 60 years has the length of joblessness been this long. Four million people, a full third of the unemployed, have been out of work more than a year. They’ve been severed from the workforce. Ben Bernanke, … Continue reading
The Intractable Tragedy of Long-Term Unemployment – Derek Thompson – Business – The Atlantic
The vast majority of the 5.5 million long-term unemployed have been out of work for more than a year. For this installment of “Working it Out,” we asked you if the government should enact special programs to help the long-term unemployed. We’ve received more than 100 responses. Here are some of the smartest, most heartfelt, … Continue reading
Hundreds of thousands march in Spain against reforms | Reuters
Hundreds of thousands of people protested across Spain Sunday against reforms to the labor market they fear will destroy workers’ rights and spending cuts they say are destroying the welfare state. Organizers, including the two largest unions Comisiones Obreras and UGT, said as many as half a million people joined the protest in 57 towns … Continue reading
Jobless disability claims soar to record $200B as of January, research from JPMorgan Chase shows – NYPOST.com
Standing too many months on the unemployment line is driving Americans crazy — literally — and it’s costing taxpayers hundreds of billions of dollars. With their unemployment-insurance checks running out, some of the country’s long-term jobless are scrambling to fill the gap by filing claims for mental illness and other disabilities with Social Security — … Continue reading
Pain Without Gain – NYTimes.com
Last week the European Commission confirmed what everyone suspected: the economies it surveys are shrinking, not growing. It’s not an official recession yet, but the only real question is how deep the downturn will be. And this downturn is hitting nations that have never recovered from the last recession. For all America’s troubles, its gross … Continue reading
Germany drawing up plans for Greece to leave the euro – Telegraph
The German finance ministry is actively pushing for Greece to declare itself bankrupt and to agree a “haircut” on the bulk of its debts held by banks, a move that would be classed as a default by financial markets. Eurozone finance ministers meet on Monday to approve the next tranche of loans from the EU … Continue reading
Egypt unemployment climbs to 12.4 pct Q4/2011 – Economy – Business – Ahram Online
Egypt’s unemployment rate rose by 0.5 per cent to 12.4 per cent in the fourth quarter of 2011, according to an International Labour Organisation [ILO] report. Unemployment was 11.9 per cent in the third quarter of 2011. Urban governorates saw joblessness at 19 per cent and rural governorates 8 per cent. Read More @ Egypt … Continue reading
U.S. Unemployment Increases in Mid-February
The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January. via U.S. Unemployment Increases in Mid-February.
The Netherlands enters recession | Dutch News
The decline in economic activity has taken its toll on the job market in the Netherlands. There were 10.000 fewer jobs available at the end of December than there were in the third quarter of 2011, with commercial jobs in trade and business declining considerably. Manufacturing jobs also declined by 2.000 from the third quarter. … Continue reading
Toronto tops New York in risk of condo bubble | Mortgages | Personal Finance | Financial Post
A sliver of land wedged between Toronto’s elevated expressway and an off-ramp that pumps traffic into downtown may become the epicenter for a Canadian housing bubble. In four years, this site that’s now used as a parking lot and police impound near the shores of Lake Ontario will be home to Ten York, a 75-story … Continue reading
‘One Bad Bill’: One in Three Americans Are Poor or Near-Poor – News – GOOD
We tend to separate the 99 percent into “poor,” “working class,” and “middle class.” But those categories may be becoming obsolete. According to new numbers crunched by the Census Bureau and The New York Times, many of us—17 percent, according to the Times’ measure—are one paycheck away from economic disaster, making one in three Americans … Continue reading
The Wealth Gap – Inequality in Numbers – BBC News
Until protestors took to the streets last year, first in New York and then in financial centres across the world, inequality had been a low-key issue. Not any more. With the political temperature rising, a stream of new analysis is revealing how sharply inequality has been growing. In October, the US Congressional Budget Office (CBO) … Continue reading
Rising Share of Americans See Conflict Between Rich and Poor | Pew Social & Demographic Trends
The Occupy Wall Street movement no longer occupies Wall Street, but the issue of class conflict has captured a growing share of the national consciousness. A new Pew Research Center survey of 2,048 adults finds that about two-thirds of the public (66%) believes there are “very strong” or “strong” conflicts between the rich and the … Continue reading
6 ways the job search has changed post-recession : The Work Buzz
The recession changed a lot of things. It changed the way people spend money, the way they save for retirement, the way they invest in stocks. It’s also changed the way companies recruit employees. Gone are the days when companies courted prospective employees, hiring managers offered generous starting bonuses and job seekers could choose from … Continue reading
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