unemployment

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Stimulus Hasn't Reached States That Need It Most
Stimulus Hasn't Reached States That Need It Most
investigation
May 28, 2009 10:20 AM CDT

Stimulus Hasn't Reached States That Need It Most

(Newser) - The states President Obama’s $787 billion stimulus package was most intended to help aren’t yet getting much out of it, USA Today reports after analyzing government contracts. The eight states with unemployment rates higher than 10% have seen an average of $7.42 per person from the $4...

Wanted: Female Bloggers Not Afraid of Math
Wanted: Female Bloggers Not Afraid of Math
OPINION
May 26, 2009 5:47 PM CDT

Wanted: Female Bloggers Not Afraid of Math

Feminists focus on fluffy recession news, hurt women's cause

(Newser) - What movies do broke people watch? How do lipstick sales reflect a limping economy? A review of women's blogs shows a dangerous emphasis on "recession lite," writes Linda Hirshman for DoubleX. What women need is someone willing to do the math and go to bat against the men...

Scammers Target Panicky Job Hunters
Scammers Target
Panicky Job Hunters
May 26, 2009 2:10 AM CDT

Scammers Target Panicky Job Hunters

Experts warn work-from-home frauds are mushrooming as unemployment rises

(Newser) - Scammers are taking advantage of the recession to con people desperately seeking work out of what little cash they have left, the Atlanta Journal-Constitution reports. Watchdog groups warn that phony work-from-home offers promising quick cash in return for an initial outlay of money are proliferating, and that some fraudsters are...

44 States Shed Jobs in April
 44 States Shed Jobs in April 
May 22, 2009 3:07 PM CDT

44 States Shed Jobs in April

Job shedding continued last month

(Newser) - Instead of May flowers, April showers brought a flood of job losses, with 44 states notching declines, the Wall Street Journal reports. California led the pack with 63,700 positions cut, but its 11% unemployment rate trailed those of Michigan (12.9%), Oregon (12%), South Carolina (11.5%), and Rhode...

In First, US Jobless Rate Set to Eclipse Western Europe's

(Newser) - The unemployment rate in the US is set to eclipse that of Western Europe for the first time on record, the New York Times reports. When April numbers for the first 15 EU members come in, the US’ 8.9% will probably be higher than Europe’s, 8.5% in...

'Youth Magnet' Cities Swarming With Unemployed

(Newser) - The recession hasn’t done anything to stem the tide of young people pouring into places like Portland, Austin, and Seattle, the Wall Street Journal reports, and that’s straining those cities’ job markets. If anything, hipsters who’ve lost jobs elsewhere are more likely to set out for these...

Pfizer Offers Free Lipitor, Viagra to Jobless

70 drugs available to those who lost jobs since Jan. 1

(Newser) - Pfizer is unveiling a new program that will let people who have lost their jobs and health insurance keep taking some of its medications—including Lipitor and Viagra—for free for up to a year. The world’s biggest drugmaker will provide more than 70 of its prescription drugs free...

GOP Rep. Says Obama Wants You Unemployed

Dems chuckle at Pete Sessions' 'bizarre conspiracy theory'

(Newser) - Democrats leapt all over GOP Rep. Pete Sessions yesterday for the "bizarre conspiracy theory" the veteran Texas congressman expressed to the New York Times in an interview over the weekend. Sessions told the Times President Obama actually wanted to "diminish employment and diminish stock prices" in a "...

Iraq, Economy Stalling, May Be Broke by Next Year

Drop in oil price has gutted nation's income

(Newser) - Some people thought Iraq wouldn't be affected by the worldwide economic downturn, says an Iraqi economist. "Those people were stupid." At the very least, they were wrong: Sales of consumer goods are in the basement, along with real estate, and the unemployment rate hovers around 25%. Surpluses from...

Recession Could End in 3rd Quarter: Economists

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists...

Dow Jumps 164 in Jobs Rally
 Dow Jumps 164 in Jobs Rally 
MARKETS
May 8, 2009 3:29 PM CDT

Dow Jumps 164 in Jobs Rally

Investors find hope in stress tests and unemployment results

(Newser) - Stocks rallied today on the unemployment report and stress-test results, the Wall Street Journal reports. Though unemployment continues to grow, the slowing pace of joblessness fueled a cautious optimism. American Express and JP Morgan Chase, who “passed” the government’s test, both gained 9%. The Dow closed up 164....

Layoffs Slow as Unemployment Hits 8.9%, Worst Since '83

539K positions cut; jobless rate hits 8.9%, highest since 1983

(Newser) - The pace of layoffs slowed in April when US employers cut 539,000 jobs, the fewest in 6 months; economists had expected 620,000 job cuts. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring in a climate of...

Europe's Jobless Thrive as US Counterparts Struggle

European safety nets make joblessness easier, recovery more difficult

(Newser) - On either side of the Atlantic, different narratives are playing out among the unemployed, the Wall Street Journal reports. While Americans left jobless by the recession struggle to pay insurance and bills, Europe’s social safety nets provide many with the majority of their former incomes and cover health-care costs....

Stocks Up on Sunny Jobs Data
 Stocks Up on Sunny Jobs Data 
Market Open
May 7, 2009 8:43 AM CDT

Stocks Up on Sunny Jobs Data

(Newser) - Stocks were up again this morning, after promising unemployment numbers, the Wall Street Journal reports. The Dow rose 53 points, while the Nasdaq and S&P advanced 0.5% and 1% respectively. Wal-Mart reported a strong quarter, pulling retail stocks higher, while banks shot up ahead of stress test results....

Hiring Healthy, Even During Downturn

Dire employment figures disguise huge amount of vacancies opening up

(Newser) - Grim unemployment figures are disguising the fact that hiring has stayed surprisingly strong in the midst of the worst postwar recession, economists tell the New York Times. In February—long before any hint of recovery emerged—4.8 million workers lost their jobs, but 4.3 million people were hired,...

3 Million US Job Openings Isn't a Good Thing
3 Million US Job Openings Isn't
a Good Thing
ANALYSIS
May 1, 2009 2:26 PM CDT

3 Million US Job Openings Isn't a Good Thing

Figure shows troubling disconnect between employers, workers

(Newser) - Even with the unemployment rate shattering records, 3 million jobs nationwide remain unfilled. But the growing mismatch between employers and workers tarnishes that silver lining, Peter Coy argues in BusinessWeek. Untrained job-seekers often don’t have necessary skills to work in growing sectors like health care and accounting, and employers...

For Bush Veterans, DC Jobs Are Scarce

Former administration officials find bad economy, overwhelmed job market

(Newser) - Former Bush administration staffers are feeling the economic pinch as acutely as other victims of the sagging economy, Politico reports. GOP job-seekers in Washington face a triple whammy of economic chaos, minority status on Capitol Hill, and an excess of qualified Republicans. “The Washington side is a bit of...

Recession-Wary Teens Cut Back on Spending

Teens spend less on food, apparel while video games and DVDs still popular

(Newser) - The downturn is causing teens, who usually spend through recessions while parents absorb the pinch, to cut back, Advertising Age reports. Teenagers are spending about 14% less this spring than last, a “dramatic impact” from a demographic that spends an average of $125 billion each year. Unemployment is also...

Laid-Off Execs Try Fatherhood

Mr. Moms confess new gig hurts the ego

(Newser) - Jobless Mr. Moms are becoming more prevalent at school pickup time and PTA meetings in Pelham Manor, a posh New York suburb where hedge-fund managers and execs raise families. Their blunt decisiveness is a remnant of once-successful careers, and while PTA moms welcome their help, they worry for them, too....

Obama's Earth Day Pitch: 'New Energy Economy'

America must choose a 'new energy economy,' he says

(Newser) - President Obama returned to Iowa—his crucial campaign battleground win—for Earth Day, hailing the “new, clean energy economy” and unveiling an offshore wind project. “It is time for us to lay a new foundation for economic growth by beginning a new era of energy exploration,” he...

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