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2 million Americans will lose unemployment insurance by January 1 and the debt ceiling limit being hit on December 31st. from MyBudget360.com: To most of America the fiscal cliff is some sort of fiscal enigma. Most realize that we are spending more than we are bringing in and also that taxes are part of our system. What most have a harder time understanding is the machine of the Fed and how it selects [...] The Economic Policy Institute released a new policy brief today that asserts the following: should the unemployment insurance extensions expire, the U.S. labour market would lose 400k jobs next year. It should be noted that the EPI is a left-leaning institute, but the information that they provide is usually spot on. SNIP Federally funded extended unemployment insur- The latest Bureau of Labor Statistics data showed a fall in mass layoffs in August. A mass layoff is when at least fifty initial claims for unemployment insurance originate from a single employer over a period of five consecutive weeks. The latest release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a decline in large-scale layoffs with 1267 mass layoff events for August resulting in 127,454 initial unemployment claimants on a seasonally adjusted basis. http://www.csmonitor.com/Business/Paper-Economy/2012/0921/Mass-layoffs-decline-in-August
A [...] The BLS’ report on the number of new jobless claims filed in the week ending 15 September 2012 indicates that the pace of layoffs in the United States is accelerating at the fastest pace since the 2007 recession began. At present, the average rate of increase in the number of initial unemployment insurance benefit claims filed each week since the most recent trend began on 7 July 2012 has reached 2,800 per week. [...] September 18, 2012 at 1:00 am Unanswered calls, long waits at agency’s offices may get worse The Michigan Unemployment Insurance Agency answered less than 10 percent of more than a million calls to its customer service lines in August, even as the agency gets ready to lay off more of its staff. Unemployed workers say they face two-hour waits at the unemployment office and hours of repeat dialing only to be put on [...] The old trick of making it harder to get unemployment benefits, so you can say fewer people are getting benefits. And of course cutting unemployment insurance taxes on businesses even as the unemployment insurance fund continues to borrow money from the Federal government – a problem for the next state administration… Getting An Unemployment Check In Florida Is Frustrating Ordeal For Many (August 21, 2012) by Comstock Partners We first noticed the first signs that the economy was beginning to soften about three months ago. Now the evidence of a slowdown has become so overwhelming that it is difficult to avoid the conclusion that we are headed for a recession. We cite the following as evidence.
Retail sales (both total and non-auto) have dropped for three consecutive months. This has happened only five times since 1967—-four times in [...] Is this what will become the norm in America for the upcomming Generation? Give them everything, so they dont have to work for it?? I mean the Gubment makes businesses with roads and shit right? Is there a school for Democrats only that teaches and preaches these idea’s? House Minority Whip Steny Hoyer (D-Md.) told reporters on Tuesday that the two most “stimulative” things the government can do is provide food [...] From Bloomberg: The index (SPX) of U.S. leading indicators unexpectedly fell in April, indicating the pace of economic expansion may cool. The Conference Board’s gauge of the outlook for the next three to six months decreased 0.1 percent after a 0.3 percent gain in March, the New York-based group said today. Economists projected the gauge would rise by 0.1 percent, according to the median of 49 estimates in a Bloomberg News survey. American employers added [...] Who Really Caused The Deficit? (CHART) SAHIL KAPUR MAY 15, 2012, 5:17 AM 4775 Divorced from [...] By ANNIE LOWREY | New York Times WASHINGTON — Some of the same spoilers that interrupted the recovery in 2010 and 2011 have emerged again, raising fears that the winter’s economic strength might dissipate in the spring. In recent weeks, European bond yields have started climbing. In the United States and elsewhere, high oil prices have sapped spending power. American employers remain skittish about hiring new workers, and new claims for unemployment insurance have risen. And stocks [...] by Dr. Engali 1)Average weekly hours (manufacturing) – Adjustments to the working hours of existing employees are usually made in advance of new hires or layoffs, which is why the measure of average weekly hours is a leading indicator for changes in unemployment. The math is simple. Unemployment spiked and we paid out the trust fund’s remaining $700 million on unemployment benefits. Then, we had to borrow $721 million as more people filed for unemployment benefits. We’re still borrowing. Had we been fiscally conservative, we would have sustained our $2 billion in reserves, rather than using it as a political kitty to buy votes. Georgia would never have borrowed federal dollars and would [...] In an interview with Atlanta’s local Fox affiliate WAGA-TV Preisdent Obama explains why he was unable to cut the deficit in half in his first term, a promise he made as a candidate. Obama was lobbed the question by a sympathetic reporter who said Obama is getting “pelted in the media” for making a campaign promise he did not keep. “Well we’re not there because this recession turned out to be a [...] Democracy is not worth supporting! No democracy, especially representative democracy is fucking stupid for a variety of reasons. Get real. It’s probably one of the most stupidest fucking things we’ve conceptualized and actually masturbate over in the Western world. Hear me out before you hit the down arrow. First of all, democracy depends on rational ignorance. Since you have one vote, along with everyone else. It’s rational not to spend time researching some issues. [...] BAML Economics: The odd decouple, Neil Dutta Over the last several weeks, US economic data has almost uniformly surprised to the upside. The employment report is a case in point. In December payrolls rose by 200,000, the unemployment rate ticked lower, and the work week ticked higher. Against this firmer growth backdrop, we are marking to market our Q4 GDP forecast to 3.5% from an initial forecast of 3.0%. Roughly one-third [...] December 28, 2011, 6:00 am Casey B. Mulligan is an economics professor at the University of Chicago. While Congress has been debating whether to cut the duration of unemployment benefits, perhaps the largest unemployment benefit cut occurred when the stimulus law expired. However, the eligibility period is not the only part of the unemployment insurance rules that have changed since the recession began. The American [...] By Tanya Somanader, TP In the last few weeks of 2011, Michigan Gov. Rick Snyder (R) rounded out his concerted campaign against Michigan workers with a few final laws. In a prejudicial move against the LGBT community, Snyder signed a measure prohibiting all public employeesfrom providing benefits for their unmarried partners. In considering his state’s 10.6 percent unemployment rate, Snyder also signed a law forcing some of Michigan’s over 400,000 unemployed workers to take low-wage jobs after [...] Obama was a man alone with his dog since his family is on vacation in Hawaii. | Reuters By JENNIFER EPSTEIN | 12/21/11 2:38 PM EST Updated: 12/21/11 3:16 PM EST President Barack Obama took a break from wrangling with House Republicans on Wednesday afternoon for a quick pre-Christmas shopping trip to buy gifts for his daughters and Bo the dog. After calling congressional leaders to reaffirm his support for the Senate-passed two-month extension of the [...] Rep. Sheila Jackson Lee (D-Texas) said Tuesday that President Obama “absolutely” should use his executive power to continue the unemployment benefits and payroll tax cut extension and said she hoped to discuss the option with the White House later in the day. “It is extraordinary, don’t get me wrong. But I’m feeling the pain of the constituents I left [at] home,” Jackson Lee said, speaking on the progressive Ed Schultz’s radio [...] Dr. Coburn Releases New Report on Wasteful Government Spending in 2011: “Wastebook 2011” (WASHINGTON, D.C.) – U.S. Senator Tom Coburn, M.D. (R-OK) today released a new oversight report, “Wastebook 2011” that highlights over $6.5 billion in examples of some of the most egregious ways your taxpayer dollars were wasted. This report details 100 of the countless unnecessary, duplicative and low-priority projects spread throughout the federal government.
“Video games, robot dragons, Christmas trees, and [...] Despite talk of various policy-easing options being considered at the Fed, the consensus remains that the central bank will refrain from major policy shifts and instead delay those decisions until its next meeting in January. Lately, the economic data from the US has remained upbeat – the University of Michigan Confidence rose to a six month high in December, while the latest trade deficit reading narrowed – which may provide [...] (WE) President Obama said that he will delay his vacation and keep Congress in session until the passage of his desired payroll tax cut and unemployment benefits extension — two proposals that Obama said would create more jobs than the Keystone XL pipeline that his administration recently delayed. “I would not ask anyone to do something I’m not willing to do myself,” Obama saidwhen asked if he would go on vacation while keeping [...] News for 10/25/11 Just headlines: Berlusconi’s Cabinet Fails to Agree on Measures Before EU Summit |
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