Job Market Monitor
Barack Obama
US / Government shutdown costs 120,000 jobs in October says President’s chief economic adviser s
The partial government shutdown this month trimmed 0.25 percentage point from fourth-quarter economic growth and cost the U.S. 120,000 jobs in October, President Barack Obama’s chief economic adviser said. An analysis of daily and weekly economic data through Oct. 12 showed weakness in such areas as retail sales, economic confidence and mortgage applications, some of … Continue reading
Fed Nomination / Obama Praises Yellen
President Obama on Wednesday announced what he called perhaps his most important economic decision, nominating Janet L. Yellen to lead the Federal Reserve system and be his independent co-steward of the economy, calling her “one of the nation’s foremost economists and policy makers.” Ms. Yellen, 67, would be elevated from the Fed’s vice chairwoman to … Continue reading
President Obama / Defends Jobs Record in Address to AFL-CIO
President Barack Obama told the largest U.S. labor group that his administration has helped improve job conditions and wages though there is more to be done. Since the financial crisis, U.S. businesses have created 7 million jobs and the automobile industry is leading a comeback of the nation’s manufacturing sector, Obama told the AFL-CIO convention … Continue reading
US / Is it true that American multinationals are returning jobs in large numbers?
Is it true that foreign companies are “betting” on the United States, and that American multinationals are returning jobs here in large numbers? Continue reading
President Obama / Eighth pivot to jobs
Obama would be giving two economic speeches Wednesday, one at Knox College in Galesburg, Ill., and another at University of Central Missouri in Warrensburg, Mo on Jobs Continue reading
US / Job Creation Under The Last 5 Presidents
This graph shows the change in private sector payroll jobs from when each president took office until the end of their term(s). President George H.W. Bush only served one term, and President Obama has just started his second term. Mr. G.W. Bush (red) took office following the bursting of the stock market bubble, and left during the bursting of … Continue reading
US / House Republicans Vote Down on Minimum Wage
House Republicans on Friday unanimously voted down a bill that would have raised the minimum wage. Six Democrats joined them in defeating the effort. The vote came after a surprise move by Democrats, who tacked onto a jobs training program bill an amendment that would have brought the national $7.25 minimum wage to $10.10 by … Continue reading
The State of the Minimum Wage
President Obama stressed economic equality and opportunity, focusing particularly on the financial woes of those earning the minimum wage, during his recent State of the Union address. “Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong,” the … Continue reading
US / Politics / The Obama ‘recovery’: more dependence
A strange and disturbing new social pattern is unfolding before our eyes in America today: growing dependence on government handouts in the face of declining unemployment rates. Though we are now preparing to enter into the fourth year of recovery from our Great Recession, the roster of Americans seeking and obtaining entitlement benefits from our … Continue reading
US / Raising That Minimum Wage: Surprisingly a good policy says Krugman
The president’s call for a rise in the minimum wage from $7.25 an hour to $9, with subsequent increases in line with inflation. The question we need to ask is: Would this be good policy? And the answer, perhaps surprisingly, is a clear yes. Why “surprisingly”? Well, Economics 101 tells us to be very cautious … Continue reading
The State of the Union Speech / Will Obama Talk Job ?
“The State of the Union address is Obama’s opportunity to suggest some practical compromises on immigration, gun control, debt-reduction, and other topics,” said University of Virginia political expert Larry Sabato. “Certainly, he won’t want to negotiate with himself, but a president can send signals by what he mentions and doesn’t mention, what he puts first … Continue reading
US / Council on Jobs and Competitiveness set to end
In the “something you didn’t know existed that is now going away” category: The president’s Council on Jobs and Competitiveness is set to end tomorrow. It came together two years ago, to generate ideas and policies for accelerated job creation. I asked economist Gary Burtless at the Brookings Institution what he thought about the president’s … Continue reading
(Update) – Barack Obama’s Second Inaugural Address: Excerpts on Job
No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people… … Continue reading
Barack Obama’s Second Inaugural Address: Excerpts on Job (the word ‘unemployment’ does not appear)
No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people… … Continue reading
US / Job Gap / President Elected Jobs Council without official meeting for a year
President Barack Obama’s Jobs Council hit a notable milestone on Thursday: one year without an official meeting. The 26-member panel is also set to expire at the end of the month, unless Obama extends its tenure. The group, formally known as the President’s Council on Jobs and Competitiveness, last convened on Jan. 17, 2012 for … Continue reading
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