Fiscal stimulus, in the form of large discretionary increases in federal spending and tax reductions, is often triggered by a strong and persistent rise in the national unemployment rate. The most recent example was the $860 billion (6 percent of GDP) stimulus contained in the 2009 American Recovery and Reinvestment Act (ARRA), adopted in the … Continue reading
A new Rasmussen poll indicates that 54 percent of Americans favor raising the Minimum Wage from $7.25 to $9 an hour, as the president proposed in his State of the Union address last week. “Most voters don’t think the minimum wage is enough to live on, and support President Obama’s proposal to raise it from … Continue reading
You may have seen charts like the one to the right from the Economic Policy Institute, showing how working people’s wages stopped going up along with productivity gains. This means the gains went…somewhere else. See if you can guess who got them? (Hint: it’s the 1 percent; this is one driver of the terrible income and … Continue reading
Though unemployment rates are slowly improving, plenty of recession-weary businesses remain hesitant to expand their payrolls. But as tough as times still are for job seekers and employers alike, signs of recovery keep popping up in the financial services industry—particularly at the big banks. Some of America’s largest banks are looking to fill hundreds of … Continue reading
Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $50,000 a year. That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for … Continue reading
As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in response to significant weakness in the economy. CBO develops estimates of ARRA’s effects on output and employment by looking at recorded spending to date … Continue reading
Historically, national security includes the strength of our nation’s infrastructure, the foundation upon which the continuous growth of our society depends. This includes our strong societal and moral codes, the rule of law, stable government, social, political, and economic institutions, and leadership. Also included are our nation’s schools and educational programs to ensure a knowledgeable … Continue reading
Wal-Mart Stores Inc. on Thursday joined a parade of retailers, restaurants and consumer-goods companies worried about the economic impact of the recently restored federal payroll tax that has left Americans with less money to spend. The world’s largest retailer, Burger King Worldwide Inc., Kraft Foods Group Inc. and others are lowering forecasts and adjusting sales … Continue reading
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
If anything is going to wreck the current bipartisan push for comprehensive immigration reform, it’s the fact that many Americans are convinced that more immigration will be bad for American workers and for the U.S. economy. The spectre of masses of immigrants taking American jobs and driving down wages is a powerful one, especially at … Continue reading
We should welcome and encourage Japan’s interest in freer trade. But let’s not roll out the red carpet for TPP’s arrival just yet. Abe is the seventh Prime Minister of Japan in six years, so it might come as no surprise that his government’s plan to boost Japan’s stagnant economy is designed to play well … Continue reading
The number of Americans seeking unemployment benefits jumped 20,000 last week to a seasonally adjusted 362,000, though it remained at a level consistent with modest hiring. The Labor Department said Thursday that the four-week average, a less volatile measure, rose 8,000 to 360,750, the highest in six weeks. A department spokesman said heavy snowstorms in … Continue reading
Americans continue to think it is hard to find a quality job in February, with 23% saying now is a good time to find one. But this is on par with the 25% who said the same in January, which was the highest Gallup has measured since March 2008. Chosen excerpts by Job Market Monitor … Continue reading
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
The real unemployment rate in southwest Detroit is almost 50%. Seventeen rural South Carolina counties just closed their unemployment offices due to budget cuts, despite high unemployment. In New York, unemployed people say they’re being discriminated against in job searches. The life of the unemployed American is not easy. Each week, we bring you true … Continue reading