unemployment

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Recession Crushes White-Collar Michigan

Layoffs, property price plunge leaves middle-aged workers in limbo

(Newser) - Tens of thousands of middle-aged white-collar workers have been left jobless and stranded in Michigan by the recession, the Wall Street Journal reports. Auto industry veterans laid off by the Big Three are finding themselves competing against against younger people for a smattering of job openings. With property prices down...

Wages Are Up—for Workers With Jobs

Avg. weekly pay hit $618 last month, up from $612

(Newser) - For those with the good fortune to have a job, wage growth has actually increased in recent months, government surveys show. From the fall of Lehman Brothers last September to this June, average weekly pay stayed at $612. But since June, the workweek has gotten longer and hourly pay growth...

UK Unemployment Soars to 14-Year High

Jobless rate expected to keep rising despite signs of economic recovery

(Newser) - The unemployment rate in Britain has climbed to 7.9% despite signs the economy is slowly beginning to pick up, the Wall Street Journal reports. The rate is now the highest since 1995, and analysts expect it to keep rising until well into next year. Unemployment remains especially high among...

Time-Starved Working Parents Eat Poorly: Study

Low-income work schedules make healthy eating difficult

(Newser) - The nature of low-income employment promotes unhealthy eating, Time reports. Over half of working parents in low-to-moderate income communities relied on dietary “coping” measures when their schedules couldn’t accommodate a full meal, according to a new Cornell University study. Those strategies included skipping breakfast or family meals, and...

Credit Cards Cut Deadbeats More Slack

With unemployment rising, companies modify, reduce debt

(Newser) - With unemployment nearing 10%, credit card companies are doing something once unheard of: forgiving debt, or modifying it in the customer’s favor, the Washington Post reports. Companies are loathe to discuss the practice, lest it inspire more delinquencies, but according to one industry report, roughly 3 million people got...

Forget Health Reform&mdash;We Can't Afford It
Forget Health Reform—We Can't Afford It
OPINION
Sep 10, 2009 8:50 AM CDT

Forget Health Reform—We Can't Afford It

The economy should be Obama's top priority: Henninger

(Newser) - Barack Obama makes health care sound like the most pressing issue in American life, but with unemployment at 10% and the country still officially in recession, Daniel Henninger wonders why he's "draining a dwindling reservoir of presidential capital." The cost of health care may be a problem for...

In Recovery, Business Will Profit at Workers' Expense

Short-term outlook 'great for business, terrible for households'

(Newser) - The economy is slowly improving, but companies will see the benefits long before the unemployed and underemployed will, Bloomberg reports. A Department of Labor report released yesterday found that the average workweek is at a near-record low of 33.1 hours. The lack of uptick in part-time hours is an...

Teen Unemployment Hits Record 25%

Expert sees teenagers jobless for a 'long, long, long, long time'

(Newser) - The teen jobless picture is the bleakest since the government started tracking the statistic 60 years ago, the New York Times reports. The rate hit 25.5% last month, nearly triple the rate among other workers. Analysts say teens are getting squeezed out of the workplace by college graduates, unable...

Dow Up 97 on Aug. Jobs Data
 Dow Up 97 on Aug. Jobs Data 
MARKETS
Sep 4, 2009 3:26 PM CDT

Dow Up 97 on Aug. Jobs Data

Indices post declines for the week

(Newser) - Traders focused on positive aspects of today's August unemployment report—declining job losses—rather than the upward revision in total jobless numbers, sending stocks higher, the Wall Street Journal reports. General Electric led advancing stocks on the Dow with a 3.35% gain. The Dow rose 96.66 points to...

Unemployment Hits 9.7%, but Job Losses Are Slowing

(Newser) - The US lost 216,000 jobs last month, driving unemployment to 9.7%, its highest level since 1983, the Wall Street Journal reports. The silver lining is that job losses have slowed; payrolls dropped a revised 276,000 in July, and earlier months saw losses of as many as 700,...

Survey Finds Unemployed 'Traumatized'

Two thirds of Americans who have lost jobs experience depression

(Newser) - The recession has left many jobless workers struggling to cope with the psychological stress, a new study finds. Researchers at Rutgers University said the financial strain that comes with being out of work, combined with the daunting task of seeking new employment in a difficult job market, has left many...

Dow Slips 30 on Jobs Data
 Dow Slips 30 on Jobs Data 
MARKETS
Sep 2, 2009 3:23 PM CDT

Dow Slips 30 on Jobs Data

Rise in materials stocks offsets jobs news

(Newser) - Stocks closed with modest losses today as advances in materials stocks helped offset disappointing data on jobs, the Wall Street Journal reports. The private sector shed 298,000 jobs in August, more than forecast. The materials sector of the S&P 500, however, advanced as gold futures hit a 3-month...

Jurors Dodge Duty Amid Financial Fears

Citizens point to recession, unemployment in bid for dismissal

(Newser) - Jury duty has always been a pain, but the tough economy is prompting more and more Americans to ditch their civic responsibility, the New York Times reports. While exact figures aren’t available, officials report that jurors increasingly cite financial worries in bids to get out of duty. “I...

States Pass on Stimulus Money for Unemployed

$3.1B sitting unused in federal coffers

(Newser) - More than $3.1 billion in stimulus money earmarked for the unemployed is idling in federal coffers, USA Today reports, because 23 states haven’t expanded their unemployment benefits in order to qualify. Another 350,000 workers could receive benefits if they did, according to one worker advocacy group. But...

Americans Are Addicted to Work We Hate

(Newser) - We job-obsessed Americans like to say we work like dogs, but over in Russia they call it "working like Americans," notes Stephen Marche in Esquire, where he probes the "insane" American addiction to work. It's a habit we may finally break, but only thanks to soaring unemployment....

Jobless Rates Jump in 26 States
 Jobless Rates Jump in 26 States 
Aug 21, 2009 2:05 PM CDT

Jobless Rates Jump in 26 States

16 states' unemployment at least 10%

(Newser) - Jobless rates climbed in 26 states last month, suggesting employment recovery will be slow and governors may face worsening budget woes, Bloomberg reports. Unemployment in California, Georgia, Rhode Island, and Nevada was at its highest since record-keeping started in 1976. While California’s rate rose from 11.6% to 11....

Job-Rich N. Dakota Lures the Unemployed

State jobless rate is 4.2%

(Newser) - North Dakota, not usually known for much other than open space, has suddenly become a job-seeker's paradise. The state of just over 640,000 has 9,000 open jobs and employs a recruiter who works full-time to lure workers, the Washington Post reports. "In North Dakota, it is pretty...

Economy Is Only Recovering on Paper
Economy Is Only
Recovering on Paper
Analysis
Aug 12, 2009 9:03 AM CDT

Economy Is Only Recovering on Paper

(Newser) - If you’re the glass-half-full type, recent economic indicators look good: Unemployment fell last month, the savings rate is up, and productivity hit a 6-year high. But that same data proves that ordinary people aren’t likely to feel the good vibrations anytime soon, the Washington Post reports. “It's...

Unemployment Will Probably Miss 10%: Silver
Unemployment Will Probably Miss 10%: Silver
Analysis
Aug 10, 2009 11:52 AM CDT

Unemployment Will Probably Miss 10%: Silver

(Newser) - Lots of economists are predicting that unemployment, which at last count hung at 9.4%, will hit 10% before the calendar changes, but Nate Silver of FiveThirtyEight.com disagrees. For that to happen, the economy would need to lose another million jobs or so, and "the jobs picture is...

Obama: Ignore Reform 'Rumors'

(Newser) - President Barack Obama asked Americans to put no stock in "outlandish rumors" that health care reform will "promote euthanasia, or cut Medicaid, or bring about a government takeover of health care," in his weekly radio and Internet address today. "That's simply not true." Politico noted...

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