unemployment

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What to Watch for in Obama's Jobs Speech

Can the president appease his base and Republicans at once?

(Newser) - President Obama gives his much-hyped jobs speech tonight, and though the stakes are high, expectations are pretty low . Obama’s “task is nearly impossible,” Politico writes: “appease liberals, appeal to independents, win over some Republicans and make a compelling case to Washington-weary voters.” Here’s what...

Tax Relief, Public Works to Drive $300B Jobs Plan

School renovations, unemployment benefit extension part of strategy

(Newser) - President Obama plans tomorrow to unveil a $300 billion jobs strategy that will involve tax relief for workers and spending on public works projects such as road repair and school renovations to put America back to work, according to sources familiar with the plan. Half of the stimulus will come...

Obama to GOP: Pass Jobs Program

President says jobless construction workers can build roads, bridges

(Newser) - President Barack Obama said today that congressional Republicans must put their country ahead of their party and vote to create new jobs as he used a boisterous Labor Day rally to aim a partisan barb at the GOP. In a preview of the jobs speech he will deliver on Thursday...

Amazon to California: Ditch Tax, Get 7K Jobs

State senate, local retailers hostile to offer

(Newser) - Amazon has got a tempting offer for California, which is battling the nation’s second-highest unemployment rate: If the state delays a new online sales tax for two years, the Internet retailer will bring 7,000 new jobs to the Golden State. Amazon would also halt its push for a...

US Added No New Jobs Last Month

Unemployment remains at 9.1%

(Newser) - Following a depressing economic forecast from the White House budget office, today's jobs report brings even more depressing news: For the first time in nearly a year, the US economy added no net jobs last month. The government lost 17,000 jobs while the private sector added just 17,...

White House: Jobs Won't Be Back Until 2017

Estimate acknowledges weakness in economy

(Newser) - If you’re waiting for the economy to get back to normal, the White House has a message for you: Don’t hold your breath. The White House budget office released its midyear economic forecast yesterday, and it wasn’t pretty, predicting that unemployment will remain at 9% next year,...

Obama Blinks, Reschedules Jobs Talk

He switches day at John Boehner's request

(Newser) - Chalk up another one for the Republicans. In the standoff over President Obama's schedule for his urgent jobs speech, Obama blinked. He has agreed to move the date a day later, to next Thursday, which is the same time as the NFL season opener. John Boehner complained about the...

Obama Asks to Unveil Jobs Plan to Congress

He wants to address joint session on Sept. 7

(Newser) - Congress will hear about President Obama's plan to create jobs directly from the source: He has asked to address a joint session at 8pm EST on Sept. 7, reports the Hill . His plan would be delivered on the same night and the same time as a GOP presidential debate...

Obama Scrambles for Jobs Plan
 Obama Scrambles for Jobs Plan 
Aug 30, 2011 7:59 AM CDT

Obama Scrambles for Jobs Plan

But problem may be too big to fix

(Newser) - As he announced the appointment of Alan Krueger yesterday, President Obama promised a speech outlining his new jobs agenda next week—but behind the scenes, Obama and company haven’t actually agreed on that agenda yet, the Washington Post reports. The president is considering a number of options, including a...

Nicholas Kristof: Get Real About Creating Jobs
 It's the Jobs, Stupid 
NICHOLAS KRISTOF
Aug 28, 2011 9:31 AM CDT

It's the Jobs, Stupid

Nothing else is going to pull us out, so get real about creating jobs

(Newser) - Washington policy wonks may enjoy obsessing about the debt and political intrigue, but with 25 million Americans unemployed or underemployed, it's the jobs, stupid, writes Nicholas Kristof in the New York Times . Polls show people's biggest worry is work, by a two-to-one margin over federal spending. "I...

CBO: 'Profound' Challenges Ahead

Deficit should fall, but employment, growth remain low

(Newser) - The picture for 2011 is a glum one—a $1.3 trillion deficit, 9.1% unemployment rate—and it's not going to get much brighter in the next few years, according to a report by the Congressional Budget Office. In it, notes Politico , the CBO warns of "profound...

Firms Keep Number of Outsourced Jobs Hidden

...while asking for job-creation tax cuts

(Newser) - Major US corporations often don’t reveal the percentage of their workforce that’s overseas—even as some of these firms, including Apple and Pfizer, seek tax breaks that they say would allow them to create more jobs at home, the Washington Post reports. While they’re required by law...

Bank of America to Slash Thousands of Jobs

As many as 10K could eventually get the boot

(Newser) - Bank of America Corp. is cutting 3,500 jobs this quarter, and plans to cut many more in the quarters ahead, as part of a drastic plan to overhaul the company. A source tells the Wall Street Journal that the company will probably dispose of at least 10,000 jobs...

Paul Krugman: Deficit Hawks Used the Economic Crisis to their Benefit
Don't Just Be Afraid Amid Market Chaos—Be Angry
paul krugman
Aug 12, 2011 1:57 PM CDT

Don't Just Be Afraid Amid Market Chaos—Be Angry

Deficit hawks exploited this crisis and made it worse: Krugman

(Newser) - All this stock market turbulence should make you not only afraid but mad, writes Paul Krugman in the New York Times . That's because deficit hawks have worsened the mess by "hijacking" the crisis to focus on their “favorite hobbyhorse," he writes. "What the market was...

Obama Sticks to Theme: Jobs, Jobs, Jobs

President says jobs report hopeful, but not good enough

(Newser) - President Obama stayed on the jobs message today: He said he's happy that the unemployment rate ticked downward , but that it's nowhere near good enough. The country needs to create far more jobs per month to make up for the 8 million lost during the recession, and he...

Better Than Expected: Unemployment Dips to 9.1%

117K jobs added in July, more than predicted

(Newser) - Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years. The Labor Department says employers added 117,000 jobs last month, an improvement from the past two months. The Wall Street Journal...

Dow Plunges 280+ Points
 Dow Plummets 513 
Aug 4, 2011 3:08 PM CDT

Dow Plummets 513

All major indexes are in negative territory for the year

(Newser) - The only good thing to say about today's stock market is that it's finally over. The Dow fell a staggering 513 points, or 4.3%, to close at 11,384. It's the worst point drop since December 2008 and the worst percentage drop since February 2009, reports...

Rare Good News: Jobless Claims Fall

...below the all-important 400K line, to 398K

(Newser) - Here’s something you don’t see every day: good news from the labor market. New jobless claims fell by 24,000 in the week ending on July 23, to 398,000, the Labor Department announced today. That’s the lowest level of job loss since April, and significantly better...

4.4M Have Been Jobless for More Than a Year

Lengthy jobless periods lead to vicious cycle of unemployment

(Newser) - Some 30% of unemployed workers across the US—about 4.4 million people—had been jobless for more than a year as of last month, Labor Department data shows. Long unemployment periods were especially pronounced in New Jersey (37.1%), Georgia (36.8%), Michigan (36.0%), South Carolina (35.7%),...

Steve Wynn: Businesses 'Frightened to Death' of Obama

Casino owner says that's why no one's hiring or investing

(Newser) - Why aren’t businesses hiring more people with the piles of cash at their disposal? Casino magnate Steve Wynn thinks it’s because they’re scared of Barack Obama. “I'm telling you that the business community in this company is frightened to death of the weird political philosophy...

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