Category Archives: unemployment rate

‘Republicants’ Deny Sky Is Falling

By United Steelworkers International President Leo W. Gerard, posted on The Hill’s Congressional Blog.

The sky is falling.

For the average Working Joe or Jane in America, it is anyway. Unemployment is at 7.6 percent and rising. The Economic Policy Institute estimates that there are 4.1 job seekers now for every opening. The mortgage delinquency rate set another record last quarter, and foreclosures are predicted to top 1 million this year. Because of reckless speculation by Wall Street financiers, the stock market is plummeting, taking with it a third of the value of the retirement accounts of hard-working Americans.

If the average Jane and Joe have not lost their jobs, they’ve seen a big chunk of their retirement savings slip away. Or their kid can’t find work. Or a neighbor’s been foreclosed on.

Still, Republicans in Congress couldn’t find it in their hearts to vote for the American Recovery and Reinvestment Act of 2009, commonly called the stimulus bill. They just can’t vote to support the American people — they’re “Republicants.”

An official description of the act the Republicants rejected says it: “Makes supplemental appropriations for FY2009: (1) for job preservation and creation; (2) to promote economic recovery; (3) to assist those most impacted by the recession; (4) to provide investments needed to increase economic efficiency by spurring technological advances in science and health; (5) to invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits; and (6) to stabilize state and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.”

In the House, not a single Republicant voted for this bill to create jobs and restore economic growth. In the Senate, three brave members of the GOP stood up to the Republicants gang to pass the Recovery Act and aid suffering Americans — Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania.

Read more >>> Here

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Filed under Congress, Congress Blog, Economic Stimulus Package, Loe W. Gerard, Republicants, the GOP, unemployment rate, United Steelworkers International

>‘Republicants’ Deny Sky Is Falling

>By United Steelworkers International President Leo W. Gerard, posted on The Hill’s Congressional Blog.

The sky is falling.

For the average Working Joe or Jane in America, it is anyway. Unemployment is at 7.6 percent and rising. The Economic Policy Institute estimates that there are 4.1 job seekers now for every opening. The mortgage delinquency rate set another record last quarter, and foreclosures are predicted to top 1 million this year. Because of reckless speculation by Wall Street financiers, the stock market is plummeting, taking with it a third of the value of the retirement accounts of hard-working Americans.

If the average Jane and Joe have not lost their jobs, they’ve seen a big chunk of their retirement savings slip away. Or their kid can’t find work. Or a neighbor’s been foreclosed on.

Still, Republicans in Congress couldn’t find it in their hearts to vote for the American Recovery and Reinvestment Act of 2009, commonly called the stimulus bill. They just can’t vote to support the American people — they’re “Republicants.”

An official description of the act the Republicants rejected says it: “Makes supplemental appropriations for FY2009: (1) for job preservation and creation; (2) to promote economic recovery; (3) to assist those most impacted by the recession; (4) to provide investments needed to increase economic efficiency by spurring technological advances in science and health; (5) to invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits; and (6) to stabilize state and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.”

In the House, not a single Republicant voted for this bill to create jobs and restore economic growth. In the Senate, three brave members of the GOP stood up to the Republicants gang to pass the Recovery Act and aid suffering Americans — Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania.

Read more >>> Here

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Filed under Congress, Congress Blog, Economic Stimulus Package, Loe W. Gerard, Republicants, the GOP, unemployment rate, United Steelworkers International

Real Unemployment at 13.9%

According to the following press release issued by Americans for Democratic Action, the true unemployment figure for our Nation stands at a staggering 13.9%.  The number is not made up or imaginary, it is an actual statistic released on Friday by the Bureau of Labor Statistics: 

WASHINGTON – The real unemployment rate released today by the Bureau of Labor Statistics is 13.9%, nearly double the official 7.6% rate reported.

The real rate includes marginally attached workers which the BLS reports “are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.”

The steep increase of 598,000 newly unemployed for January pushed that figure to its highest level since 1974, and underscored the urgency for an aggressive, swift and large enough economic recovery plan to reverse the downward economic trend. Since the recession began in December 2007, a staggering 3.6 million jobs have been lost.

ADA National Director, Amy Isaacs, said, “Enough is enough. Every day that Congress delays passing President Obama’s job creation plan, the economy hemorrhages thousands more jobs. The time for bold action from our elected leaders is now.”

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Filed under Americans for Democratic Action, Bureau of Labor Statistics, unemployment rate

>Real Unemployment at 13.9%

>According to the following press release issued by Americans for Democratic Action, the true unemployment figure for our Nation stands at a staggering 13.9%.  The number is not made up or imaginary, it is an actual statistic released on Friday by the Bureau of Labor Statistics: 

WASHINGTON – The real unemployment rate released today by the Bureau of Labor Statistics is 13.9%, nearly double the official 7.6% rate reported.

The real rate includes marginally attached workers which the BLS reports “are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.”

The steep increase of 598,000 newly unemployed for January pushed that figure to its highest level since 1974, and underscored the urgency for an aggressive, swift and large enough economic recovery plan to reverse the downward economic trend. Since the recession began in December 2007, a staggering 3.6 million jobs have been lost.

ADA National Director, Amy Isaacs, said, “Enough is enough. Every day that Congress delays passing President Obama’s job creation plan, the economy hemorrhages thousands more jobs. The time for bold action from our elected leaders is now.”

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Filed under Americans for Democratic Action, Bureau of Labor Statistics, unemployment rate

The Bush Years


NBC News compiles a devastating list of statistics to show what the United States looked like when George W. Bush entered office in January 2001 and what it looks like today as he’s leaving. The numbers are striking, here are a few:

UNEMPLOYMENT RATE
Then: 4.2% (Bureau of Labor Statistics, January 2001)
Now: 6.7% (Bureau of Labor Statistics, November 2008)

DOW JONES INDUSTRIAL AVERAGE
Then: 10,587 (close of Friday, Jan. 19, 2001)
Now: 9,015 (close of Tuesday, Jan. 6, 2009)

FAMILIES LIVING IN POVERTY
Then: 6.4 million (Census numbers for 2000)
Now: 7.6 million (Census numbers for 2007 — most recent numbers available)

AMERICANS WITHOUT HEALTH INSURANCE
Then: 39.8 million (Census numbers for 2000)
Now: 45.7 million (Census numbers for 2007 — most recent available)

U.S. BUDGET (deficit)
Then: +236.2 billion (2000, Congressional Budget Office)
Now: -$1.2 trillion (projected figure for 2009, Congressional Budget Office)

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Filed under Dow Jones Industrial Average, health insurance, NBC News, political wire, poverty, President Bush, unemployment rate, US Budget

>The Bush Years

>


NBC News compiles a devastating list of statistics to show what the United States looked like when George W. Bush entered office in January 2001 and what it looks like today as he’s leaving. The numbers are striking, here are a few:

UNEMPLOYMENT RATE
Then: 4.2% (Bureau of Labor Statistics, January 2001)
Now: 6.7% (Bureau of Labor Statistics, November 2008)

DOW JONES INDUSTRIAL AVERAGE
Then: 10,587 (close of Friday, Jan. 19, 2001)
Now: 9,015 (close of Tuesday, Jan. 6, 2009)

FAMILIES LIVING IN POVERTY
Then: 6.4 million (Census numbers for 2000)
Now: 7.6 million (Census numbers for 2007 — most recent numbers available)

AMERICANS WITHOUT HEALTH INSURANCE
Then: 39.8 million (Census numbers for 2000)
Now: 45.7 million (Census numbers for 2007 — most recent available)

U.S. BUDGET (deficit)
Then: +236.2 billion (2000, Congressional Budget Office)
Now: -$1.2 trillion (projected figure for 2009, Congressional Budget Office)

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Filed under Dow Jones Industrial Average, health insurance, NBC News, political wire, poverty, President Bush, unemployment rate, US Budget

New unemployment claims hit 26-year high

The Labor Department reports this morning show new claims for unemployment benefits hit 573,000 last week, the highest level in 26 years. The number of people continuing to claim jobless benefits also “jumped much more than expected, increasing by 338,000 to 4.4 million. Economists expected a small increase to 4.1 million. … The increase in continuing claims was the largest jump since November 1974.”

-Think Progress

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Filed under jobless benefits, Labor Department, unemployment benefits, unemployment rate