June 10, 2014 |
Federal Reserve watcher Ray Stone notes that Friday's payroll data were "very solid," and set the stage for this summer's annual summit in Jackson Hole, Wyo., where central bank officials will debate the quality of the recovery in the labor market. What does that mean for the rest of us? Interest rates rise - or not - based on whether Federal Reserve governors think the economy is picking up. If yes - and jobs growth supports this - rates could go up by mid-2015. Federal Reserve chief Janet Yellen will take a microscope to these latest unemployment data as part of the debate.
April 6, 2014 |
The economy has generated enough private-sector jobs to replace all those lost during the recession, according to data released Friday by the U.S. Labor Department. That was the headline news in an otherwise solid, but unremarkable, report. The unemployment rate remained unchanged at 6.7 percent, and payroll jobs were up by 192,000 in March. In March, private-sector, nongovernmental jobs edged just above 116 million. Such jobs numbered just below 116 million when the recession began in December 2007.
March 25, 2014 |
IT'S ONE thing for Hollywood to keep re-telling the story of Jesus or keep re-making Superman movies, but is it already time for another biopic on Steve Jobs ? The Ashton Kutcher version came out last year. TheWrap.com, however, reports that Christian Bale is David Fincher 's choice to play Jobs in a new untitled movie that Aaron Sorkin has written for Sony. Fincher recently met with Sony's Amy Pascal to discuss the possibility of directing the film, and told her, in no uncertain terms, that he'd helm the project only if Bale plays Jobs.
March 23, 2014 |
Unemployment in the Philadelphia metropolitan area rose in January to 7.1 percent, up from 6.4 percent in December, but down from 9 percent in January 2013, the U.S. Labor Department reported Friday. The figures are not adjusted for normal seasonal variations. Breaking it down, the unemployment rate in the Camden area, which consists of Camden, Gloucester, and Burlington Counties, was 7.9 percent, up from 7.0 percent in December, but down from 10 percent a year ago. Philadelphia and its four surrounding suburban counties also saw an increase, to 6.9 percent in January from 6.3 percent in December, but down from 8.9 percent in January 2013.
February 2, 2014 |
Maybe if it were illegal to discriminate against the long-term jobless, and doing so led to stiff fines, Cheryl Spaulding would be more impressed with the pledge to hire the long-term jobless made by business executives at the White House on Friday. "Every little bit helps," said Spaulding, cofounder of Joseph's People, a network of support groups for the unemployed based in Philadelphia suburban churches. "The truth is that there is no incentive to hire these people, other than ethical and moral," she said.
January 14, 2014
WE ELECT members of Congress to represent our interests and our views. Does that mean that Congress' view of Americans is, in fact, how we see ourselves? We hope not, because that view is unflattering, to say the least. Case in point: In December, more than a million people ran out of unemployment benefits, Congress having failed to pass an extension of federal jobless benefits that kick in after the typical 26-week state programs expire. Last week, the Senate advanced a bill that Republicans in the House say has little chance of passing.
December 25, 2013 |
Dozens of unemployed people and their families dug into a fine holiday meal Monday - ham, mashed potatoes, baked beans, dessert by the tray load. The holiday party for the unemployed, who have no office festivities or pizza at the plant, has become an annual tradition at St. Joseph's Roman Catholic Church in Downingtown, where a mission for the unemployed, now in its third decade, tends to the practical and psychological aftermaths of joblessness. "We do this party because these people don't have the capacity to do a Christmas party," said Cheryl Spaulding, one of the cofounders of St. Joseph's People, a network comprised of a dozen churches in the Philadelphia suburbs.
December 18, 2013 |
THREE DAYS AFTER Christmas this year, 1.3 million laid-off American workers will see their unemployment benefits stopped. In Pennsylvania, the number will be 87,000 people drawing their last check on Dec. 28. "If my wife loses her benefit before she finds a job, we lose our house. " - Philadelphia resident These are working people caught in the worst economic crisis in more than 70 years, one that will not end. Unemployment in Pennsylvania is still 7.5 percent with 485,000 people officially unemployed.
December 12, 2013 |
ALTHOUGH North America and Europe have finally emerged from the darkness of the global financial crisis, the economies of the West still lag behind those in the rest of the world. That's particularly the case when it comes to jobs. The unemployment rate in the United States, for example, remains stubbornly around 7 percent. In Chile, Hong Kong, Indonesia, Mexico and South Korea, however, the official unemployment rate is way lower. So here's a novel solution to America's problem: Move the people to where the jobs are. Exporting the unemployed may sound radical, even cruel, but the quest for jobs has been a driving force behind global migration - and population growth in the New World - for centuries.
November 11, 2013 |
October's jobless rate, pegged Friday at 7.3 percent, was up slightly from September. But the number's meaning is a source of monthly public confusion. Here are some explanations. The arm of government that computes the unemployment rate is the Labor Department's Bureau of Labor Statistics. This FAQ on the bureau's site explains how the number is reached and what it means. It starts with the question "Why does the government collect statistics on the unemployed?" When a willing worker is unemployed, everybody loses, it explains.