Job Market’s New Normal: Smaller Workforce, Sluggish Pay
Even after another month of strong hiring in June and a sinking unemployment rate, the U.S. job market just isn’t what it used to be.
Pay is sluggish. Many part-timers can’t find full-time work. And a diminished share of Americans either have a job or are looking for one.
Yet in the face of global and demographic shifts, this may be what a nearly healthy U.S. job market now looks like.
|Emergency Unemployment Extension Expected to Take Back Seat to Tax Extenders|
|Weekly jobless claims jump to 329K|
Bad economic news was even reflected in earnings, when Wal-Mart (WMT), the world’s largest retailer, reported that same store sales fell 0.4 percent, and full-year guidance came in below expectations.
All of this negative news has besieged investors already wary after the last two jobs reports, which have shown job growth coming in sharply below expectations for both December and January.
What remains unclear is just how much of this bad news is due to the spate of bad winter weather, rather than an actual slowing of growth. But as data comes in over the next two weeks, that question should be answered.
“Weekly jobless claims will be important to watch, because you can’t blame that on the weather,” said Peter Boockvar , chief market analyst at the Lindsey Group, referring to the employment number that will be released on Thursday morning. Full story here…
Washington Unemployment Drops, But Economic Weakness Remain OPB NewsThe unemployment rate in Washington dipped in November. New numbers released by the stateWednesday peg the jobless rate at 6.8 percent …
Bigger concern: Income inequality or unemployment? Fox BusinessBigger concern: Income inequality or unemployment? Advertisement. Details. Description. FOX News contributor Steve Moore and author Harry Dent …
Unemployment Benefits to Lapse as Congress Fails to Agree Forex Factory Unemployment benefits for 1.3 million people in the U.S. are poised to end Dec. 28 as Democrats failed in their last-ditch effort to extend the jobless assistance …
Will unemployment benefits get left behind in budget deal? CBS News Emergency unemployment benefits are set to expire on Dec. … the next year, a major issue stands to get left out in the cold: emergencyunemployment benefits.
Unemployment to remain notably high for at least two more years … Plain Dealer
Unemployment is expected to remain high enough that the Federal Reserve isn’t likely to substantially increase interest rates for nearly two more years, …
|Unemployment falls in most states in October Appleton Post Crescent|
(DUH! It’s The Holiday Hiring season… the jobs are temporary).
How Older Americans Are Working Longer – Today in Douglasville … The Great Recession has had a major impact on older Americans’ attitudes toward work, with many delaying retirement or continuing to work for pay, according …
Youth Unemployment: Who Is to Be Blamed? Huffington Post UKDuring the World Economic Forum, youth unemployment was described as a “social and economic time bomb”. Such a statement might seem over exaggerated.
Unemployment benefit delays could linger into holiday season The Florida CurrentAs the holiday shopping season approaches, unemployed workers in Florida seeking jobless benefits – many of whom are already experiencing delays …
Real Unemployment Rate Is 13.6 Percent And Can Only Get Worse Newsmax.com The Labor Department on Friday is expected to report the economy added 120,000 jobs in October, below the 148,000 recorded in September and the trend for …
Unemployment benefits now tied to drug testing Fenton Tri County TimesUnemployed workers in Michigan are now required to take a drug test in order to receive benefits. The measure was included with a slew of bills Gov.
We all know that this “unemployment rate” has been trending down, albeit very slowly. If we look at the “employment-to-population ratio” (also produced by the Bureau of Labor Statistics or BLS), this analyzes the percent of those currently employed against the total working-age population of the U.S. (age 16 to 64 for men; age 16 to 59 for women). This employment-to-population ratio stands currently at 58.7%, and unlike the unemployment rate, this ratio has not recovered from its recession depths:
Bill to cut off unemployment in case of positive drug test moves forward
WWMT-TV(NEWSCHANNEL 3) – A bill to cut off unemployment benefits for people caught doing drugs, takes another step forward in Lansing. Today the republican-led senate voted to disqualify people if they fail a drug test required by a prospective employer.
‘Riot time!’: Food stamp users in near-panic over EBT card failures… Hundreds of reports on Twitter from many parts of the country indicate that Electronics Benefits Transfer (EBT) cards (the electronic version of food stamps) are not working this afternoon. http://twitchy.com/2013/10/12/riot-time-food-stamp-users-in-near-panic-over-ebt-card-failures/
Oh the Irony… DC Managing Shutdown? W*USA 9 Furloughed employees who collect unemployment checks should know if they are awarded back pay by Congress for the furloughed days, they will be required … No one at work to process the benefits?!
|Furloughed workers seeking unemployment pay in DCabc27|
Top 10: Illinois Remains in National Unemployment Cellar – Huffington Post
Today’s Top 10 list looks at the bottom of the U.S. unemployment picture. WORKERS COMP One of the things that hinders Illinois’ job growth is Illinois’ workers …
Economists see Fed cut in stimulus this week – USA TODAY
The purchases are aimed at holding down long-term interest rates, thus increasing borrowing and investing in order to create jobs and lower unemployment. The Fed each month is buying $45 billion in Treasury bonds and $40 billion in mortgage-backed securities.
Avoid These Five Low-Pay, Dead-End Careers- Fed up with your current job and ready to seek greener pastures? A career change can allow you to follow your passions, pursue your dreams, and expand your horizons. But beware of transitioning into one of these careers, whose low median annual salaries and declining jobs numbers make them some of the worst in America “http://education.yahoo.net”
Unemployment expectations fall sharply MacroBusiness (blog)
The unemployment expectations index fell 6.6% in Aug, the largest monthly … a fall in the index suggests consumers are not expecting unemployment to rise as …
The U.S. job market is turning ugly, exposing the folly of the Fed’s plan to tighten monetary policy and Congress’ hellbent march toward another destructive budget battle.
Policy makers should be doing more to boost an economy that remains stubbornly mediocre. Instead, leaders in Washington are getting ready to make things worse.
Employers added 169,000 jobs to non-farm payrolls in August, the Bureau of Labor Statistics said on Friday, while the unemployment rate dropped to 7.3 percent, the lowest since December 2008.
– Source http://www.huffingtonpost.com
It is the Fault of Congress People Can’t Find Jobs Ring of Fire A recent Huffington Post article, Unemployment Rate Falls To 7.4 Percent Thanks Partly To Low-Wage Jobs, reported than, “The unemployment rate fell to 7.4 …
Unemployment drops but fears over jobs for youths UNEMPLOYMENT in the Herald and Gazette area is on the decrease but concerns remain about the level of young people struggling to find work. In the three …
Gallup: Unemployment Rate Is 8.6 Percent for August, Moneynews Gallup also assesses the nation’s labor conditions, and according to its data, unemployment rose from 7.8 percent in July to 8.6 percent in August
WASHINGTON — Unemployment rates rose in more than half of U.S. states in July and fewer states added jobs, echoing national data that show the job market may have lost some momentum.
Report: Unemployment to rise again in 2013
(CNN) — A total of 197 million people were without jobs in 2012, with youth being particularly hard hit, and those unemployment figures will increase again this year, according to an International Labor Organization report released Monday. The bulk of …
Unemployment Rate Same Today As It Was When Obama First Took Office
President Barack Obama is greeted by Rev. Luis Leon as he arrives at St. John’s Church on Jan. 21, 2013 in Washington, DC, hours before Obama participates in a ceremonial swearing in for a second term in office. (credit: NICHOLAS KAMM/AFP/Getty …
Don’t Move Here: 5 Cities With The Highest Unemployment
At the end of 2012, the U.S. national unemployment rate was 7.8 percent and the country added 155,000 jobs in December, but these numbers still reflect a troubling economy with a long way to go. “This shows the depth of the recent employment recession …
|Millennial Unemployment: Why Are Younger Americans Still Struggling in This …|
PolicyMic Their December unemployment numbers showed little change and foretell longer-term problems. The overall unemployment rate stayed constant at 7.8%. However, workers 20-24 years old had difficulty finding jobs and their unemployment rate jumped from ...