Jobs & Unemployment

Wal-Mart Announces Plan to Hire More American Veterans

January 16, 2013

“Wal-Mart, the nation’s largest retailer, will announce Tuesday a plan to hire every veteran who wants a job, provided that the veterans have left the military in the previous year and did not receive a dishonorable discharge.”

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U.S. Software Developer Employee Outsourced His Own Job Overseas to China — For Profit

January 16, 2013

“The software developer, in his 40s, is thought to have spent his workdays surfing the web, watching cat videos on YouTube and browsing Reddit and eBay.”

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Investment Bank Morgan Stanley Cutting 1,600 Jobs and Deferring Bonuses for Top-Earners

January 15, 2013

“Morgan Stanley last year capped most cash bonuses at $125,000 as it seeks to tie employees to the firm and satisfy regulators’ demands for long-term incentives.”

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American Society of Civil Engineers: Infrastructure Disrepair Could Cost 3.5 Million Jobs by 2020

January 15, 2013

“”Overall, if the investment gap is not addressed throughout the nation’s infrastructure sectors by 2020, the economy is expected to lose almost $1 trillion in business sales, resulting in a loss of almost 3.5 million jobs.”"

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Anglo American Platinum Shuts Down Four Mines in South Africa, Eliminating up to 14,000 Jobs

January 15, 2013

“The world’s biggest platinum producer said lower demand for the precious metal and higher costs meant the shafts were unprofitable.”

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Jobs Report: U.S. Added 155,000 Jobs in December 2012; Unemployment Rate Remains at 7.8%

January 4, 2013

“The jobless rate was steady at 7.8 percent. The report reinforces expectations of 2 percent economic growth this year, which is unlikely to quickly bring down the unemployment rate.”

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University of Texas Economist James Galbraith: Retirement Age Should Be Lowered (At Least Temporarily)

November 30, 2012

“The idea would be to ease pressure on the labor market with the unemployment rate at 7.9 percent, Galbraith tells Business Insider. In additions, retirees would get access to income earlier.”

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Congressional Budget Office: Extending Unemployment Benefits for 1 Year would increase GDP by 1.1%

November 30, 2012

“For the three options involving extensions for an entire year—Options 1, 2, and 4—economic output would be $1.10 higher per dollar of budgetary cost, on average, in 2013, CBO estimates.”

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Mediocre October Jobs Report leads to predictable Conservative Criticisms of the Unemployment Rate

November 2, 2012

In order to accurately evaluate “where we stand today” after the release of the October Jobs Report, we should look at objective analysis (as opposed to rhetoric).

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The Heritage Foundation’s June 2011 Analysis of the Economic Recovery surprisingly benefits Obama

November 2, 2012

Published on July 5th 2011, the Heritage Foundation article by James Sherk titled “Years of High Unemployment Ahead at Recovery’s Pace” analyzes the unemployment rate under President Obama and projected an approximate 8.7% unemployment rate for November 2012.

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U.S. October Jobs Report: Economy adds 171,000 Jobs, exceeding expectations; the Unemployment Rate rises to 7.9%

November 2, 2012

“Bronars said October’s jobs report was positive despite the unemployment rate increase, because more people resumed looking for work. He called the 171,000 jobs added “solid” and noted there were upward revisions to the reports of the past two months.”

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Payroll Data Firm ADP revises its calculations, decreasing September’s Job Growth from 162,000 to 88,200

October 31, 2012

“The firm recently has entered into a partnership with Moody’s Analytics that will change the way the private payroll count is calculated.”

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Analysis: Actual U.S. Unemployment Rate is 41%

October 19, 2012

“For now, 58.7 per cent of American adults are working if the actual employment-population ratio is taken into consideration, leaving about 82 million, or almost 41 per cent of people unemployed.”

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Weekly U.S. Jobless Claims rose by 46,000 to 388,000, the highest in 4 months

October 18, 2012

“The Labor Department says the four-week average of applications, a less volatile measure, fell slightly to 365,500, a level consistent with modest hiring.”

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Speaking to the IMF, Federal Reserve Chairman Ben Bernanke defends the Central Bank’s Monetary Easing

October 18, 2012

“The Fed has faced a barrage of criticism over its decision to expand its balance sheet by a potentially unlimited amount in an attempt to counter high unemployment in the US.”

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