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via Vicki Needham, The Hill The economy added 146,000 jobs in November while the unemployment rate fell to 7.7 percent. It’s the lowest the jobless rate has been since December 2008, and the report from the Bureau of Labor Statistics was higher than estimates that had predicted Hurricane Sandy would hold total job growth down. … Continue reading
via USA Today U.S. abortions fell 5% during the Great Recession in the biggest one-year decrease in at least a decade, according to government figures released Wednesday. The reason for the decline wasn’t clear, but some experts said it may be due to better use of birth control during tough economic times. Their theory is … Continue reading
via John Whitesides, Reuters President Barack Obama and Republican challenger Mitt Romney make a frenetic dash to a series of crucial swing states on Monday, delivering their final arguments to voters on the last day of an extraordinarily close race for the White House. After a long, bitter and expensive campaign, national polls show Obama … Continue reading
via Laura Bassett, The Huffington Post When 24-year-old preschool teacher Katherine Fenton stood up at the second presidential debate and asked the candidates what they planned to do about the gender wage gap, both candidates dodged the question, and conservatives collectively rolled their eyes at the mention of one of their least favorite of the … Continue reading
via Lucia Mutikani, Reuters The U.S. unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama’s re-election bid. The Labor Department said on Friday the unemployment rate, a key focus in the race for the White House, dropped by 0.3 percentage point to its lowest … Continue reading
via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading
via David Lawder, Reuters Massive U.S. government spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, the Congressional Budget Office warned on Wednesday. Without action by Congress to avoid a “fiscal cliff,” Americans should expect a “significant recession” … Continue reading
via Susan Page, USA Today They could turn a too-close-to-call race into a landslide for President Obama— but by definition they probably won’t. Call them the unlikely voters. A nationwide USA TODAY/Suffolk University Poll of people who are eligible to vote but aren’t likely to do so finds that these stay-at-home Americans back Obama’s re-election … Continue reading
via Hope Yen, The Huffington Post The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net. Census figures for 2011 will be released this fall in the critical … Continue reading
via Josh Mitchell, The Wall Street Journal Student debt is rising sharply among all age groups, but middle-aged Americans appear to be struggling the most with payments, according to new data released Tuesday by the Federal Reserve Bank of New York. The delinquency rate—or the percentage of debt on which no payment has been made … Continue reading
via Izhar Harpaz, Dateline, MSNBC The small communities that dot the picturesque mountain landscape outside Boulder, Colorado conjure up an image from long before the great recession. Here the manicured lawns and expensive cars are a testament to the achievements of a fiercely independent and educated middle class; a 21st century version of suburban bliss. … Continue reading
via Editorial Board, Chicago Tribune When the U.S. was in recession three decades ago, middle-aged industrial workers were the biggest losers. The most recent recession and hesitant recovery, though, has hammered the young, as the government’s disappointing monthly employment report showed again last week. For many of America’s younger workers, opportunity is scarce and financial … Continue reading
via Steven Rattner, The New York Times New statistics show an ever-more-startling divergence between the fortunes of the wealthy and everybody else — and the desperate need to address this wrenching problem. Even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning. In 2010, as the nation continued to … Continue reading
via David Allyn, Chicago Tribune We seem to be living in a time warp. Conservatives are denouncing not just abortion, but birth control. There was the Rush Limbaugh “slut” episode. Actor Kirk Cameron called homosexuality “unnatural,” “detrimental” and “ultimately destructive.” Meanwhile, Rick Santorum sees Satan lurking in America’s bedrooms. At first blush, such backwardness might … Continue reading
via Marie Diamond, ThinkProgress Yesterday, Senate Republicans unveiled their much-hyped alternative to President Obama’s jobs plan. The “Jobs Through Growth Act” is heavy on Republicans’ favorite policies like cutting corporate taxes and reducing regulation, but light on details. Nevertheless, Sen. Rand Paul (R-KY) declared that it would create 5 million jobs. Moody’s Analytics estimated that … Continue reading
via The New York Times As the Occupy Wall Street protests spread from Lower Manhattan to Washington and other cities, the chattering classes keep complaining that the marchers lack a clear message and specific policy prescriptions. The message — and the solutions — should be obvious to anyone who has been payingLost attention since the … Continue reading
House Republican leaders came out against nearly all the major proposals in President Obama’s $447 billion job-creation plan Friday, including his middle-class tax cuts and his approach to federal spending on transportation and school construction. In a memo to all House Republicans, the GOP leaders said cutting payroll taxes through 2012 would lead to a … Continue reading
The Census Bureau reports the number of Americans in poverty jumped to 15.1 percent in 2010, a 27-year high. About 46.2 million people, or nearly 1 in 6, were in poverty. That’s up from 43.6 million, or 14.3 percent, in 2009. It was the highest level since 1983. The number of people lacking health insurance … Continue reading
President Barack Obama will take to the Rose Garden on Monday to make a pitch for his jobs creation plan and announce he is sending it to Congress later that evening, the White House said. Obama will be joined by teachers, veterans, small-business owners and others who would benefit from the American Jobs Act’s passage, … Continue reading
The Obama administration is seeking to broaden access to a two-year-old refinancing program that has helped far fewer homeowners take advantage of low interest rates than initially expected. President Obama announced the effort Thursday night as part of his package of measures to spur job creation, saying it would help “responsible homeowners” by reducing their … Continue reading
While men lost more jobs in the recession than women, women have been slower to recover, losing nearly 300,000 jobs since the economic “recovery” began in 2009. Some women’s organizations were concerned that President Obama’s jobs plan was going to focus on boosting male-dominated industries, such as construction and manufacturing, to the exclusion of the … Continue reading
South Carolina Gov. Nikki Haley (R) wants the jobless to pass a drug test before they can receive benefits, but she seems to have an exaggerated sense of drug use among the unemployed. “I so want drug testing. I so want it,” Haley said during a Thursday question-and-answer session at the Lexington Rotary Club. She … Continue reading
The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely … Continue reading
On a bright spring day in a wisteria-bedecked courtyard full of earnest, if half-drunk, conference attendees, we were commiserating with a fellow journalist about all the jobs we knew of that were going unfilled, being absorbed or handled “on the side.” It was tough for all concerned, but necessary—you know, doing more with less. “Ah,” he … Continue reading
Two weekends ago, I dropped off my daughters at college. As any parent with children in college knows, this is a bittersweet ritual — piling your kid’s belongings into your car, getting them set up in their dorm rooms, then getting shooed away, leaving them with classmates, friends, deans, and professors. Of course, it’s bittersweet … Continue reading
The Brandt Standard 