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Breaking News Forum Applications for unemployment aid barely changed at News Forum - AP - The number of people applying for unemployment benefits was mostly unchanged last week. A slight dip in applications ...

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Old 10-13-2011, 08:42 AM   #1
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Default Applications for unemployment aid barely changed

AP - The number of people applying for unemployment benefits was mostly unchanged last week. A slight dip in applications suggests the job market isn't getting much better.




Applications for unemployment aid barely changed
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Old 11-04-2011, 09:01 PM   #2
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Miss Nancy caught fibbin' again...

Pelosi: Without Obama's Stimulus, Unemployment Would Now Be 15%
November 3, 2011 – Since President Barack Obama signed his $825 billion economic stimulus plan into law in February 2009, the national unemployment rate has risen from 8.2 percent to 9.0 percent. But House Minority Leader Nancy Pelosi (D.-Calif.) said at her press briefing Thursday that if the stimulus had not been enacted the unemployment rate would now be 15 percent.
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At a press briefing only a month ago, Pelosi said that if the stimulus had not been enacted unemployment would have reached 14.5 percent by the time of the November 2010 elections. "I think it’s really important to know that President Obama was a job creator from day one," Pelosi said at her Thursday briefing. "Now, was the ditch that we were in so deep that when you’re talking to people and they still don’t have a job, that that’s any consolation to them? No.

“But I’ll tell you this,” said Pelosi, “if President Obama and the House congressional Democrats had not acted, we would be at 15 percent unemployment. Again, no consolation to those without a job, but an important point to make." At her Oct. 6 briefing, Pelosi said: “Without the Recovery Act and accompanying federal interventions, whether from the Fed or ‘Cash for Clunkers’ or other initiatives, this unemployment rate last year at the time of the election would’ve been 14.5 percent, not 9.5 percent.”

A report published by the Congressional Budget Office in August estimated that in the fourth quarter of 2011, the stimulus signed by President Obama in 2009 would have the impact of reducing the national unemployment rate between 0.3 points to 1.1 points from what it otherwise would have been. The report also said that although CBO initially estimated that the stimulus would cost $787 billion, CBO had subsequently increased its estimated cost to $825 billion.

According to the CBO report, 600,000 to 2 million people have jobs as of now that were "created or retained" because of the $825 billion stimulus. If the maximum number of 2 million is accepted, that works out to a cost of $412,500 per job. If the minimum number of 600,000 is accepted, that works out to a cost of $1,375,000 per job.

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BLS Chief Contradicts Pelosi: Knows of No Study Backing Her 15% Unemployment Claim
November 4, 2011 - Keith Hall, the commissioner of the Bureau of Labor Statistics, the federal agency responsible for tracking unemployment in the United States, told the Join Economic Committee of Congress today that he knew of no study that would back the claim that House Miniority Leader Nancy Pelosi (D.-Calif.) made on Thursday that the unemployment rate would now be 15 percent were it not for the economic stimulus President Barack Obama signed in 2009.
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Rep. Mick Mulvaney (R-S.C.) asked Hall: “Have you seen any reputable studies that would lead you to believe or that would show that the unemployment rate today would be 15 percent but for the stimulus program?” “No," said Hall, "but I haven’t, I haven’t looked. I’m not sure I would call--Was the CBO [Congressional Budget Office] estimating that?”

“No, that’s actually Mrs. Pelosi’s office this morning,” Mulvaney informed him. “Oh, okay. I haven’t looked at that study,” Hall said. Mulvaney followed up: “Do you think there is a study?” “I really have no idea,” Hall said.

“You’ve never heard of any study that would say that unemployment would be 15 percent?” Mulvaney asked. “No," said Hall, "but we’re pretty focused on the real data.” “I’m focused on the real data as well, I just sort of was wondered if this had anything to do with real data and it sounds like it doesn’t,” Mulvaney said before concluding his questioning.

As earlier reported by CNSNews.com, the Congressional Budget Office in August estimated that in the fourth quarter of 2011, the stimulus would have the impact of reducing the national unemployment rate between 0.3 points to 1.1 points from what it otherwise would have been. Since President Barack Obama signed his $825 billion economic stimulus plan in February 2009, the national unemployment rate has risen from 8.2 percent to 9.0 percent.

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Old 08-23-2012, 03:40 PM   #3
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Mebbe she needs to join the ranks of the unemployed - might change her opinion...

Labor Secretary Cheers Youth Unemployment Rate of 17.1 Percent
August 23, 2012 – Labor Secretary Hilda Solis cheered a slight decline in the youth (16-24) unemployment rate, saying that it was a sign that the job market was improving for America’s young people.
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“As young Americans all across the country prepare to head into a new school year, I'm excited to say that many more will take with them lessons learned through summer jobs,” Solis said Wednesday in a press release. “It's no secret that the effects of the 2007 recession had a significant impact on job prospects for youth, but today's report showed positive signs that job prospects for young people picked up pace in 2012,” she said.

Solis’ statement marked the release of the Bureau of Labor Statistics’ annual youth unemployment report. Solis said that the report showed positive signs for young job seekers, noting that the youth unemployment rate had fallen to 17.1 percent over the past two years. “Yesterday's report shows that youth employment rose by 2.1 million between April and July 2012, with 19.5 million young people employed last month. That's up from 18.6 million a year ago,” Solis said. “The youth unemployment rate showed a significant decline, falling to 17.1 percent — down a percentage point from last year and two points from 2010. Meanwhile, the share of young people employed in July 2012 climbed back up to 50.2 percent from its historic low last year,” she added.

However, the youth unemployment report Solis cited only covers April to July, when youth employment swells as summer job seekers fill hospitality and food service jobs. The same report found that the number of unemployed youth during this time period was 4 million, a number BLS said was “little changed” from last year’s figure of 4.1 million. The report also underscored the fact that the youth unemployment rate actually increased from April to July, rising from 15.4 percent to 17.1 percent.

Her comments also leave out the fact that the number of unemployed youths hasn’t changed much, meaning that other factors besides a better labor market are behind the decline in the unemployment rate. In fact, youth employment in July is little changed since President Barack Obama took office. In July 2009, 19.3 million young Americans were employed. In 2012, that number had risen by just 0.2 points to 19.5 million.

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Claims for unemployment benefits rise 4K
23 Aug.`12 WASHINGTON – The number of people seeking first-time unemployment benefits rose a slight 4,000 last week to a seasonally adjusted 372,000, evidence that the job market's recovery remains modest and uneven.
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The Labor Department said Thursday that the four-week average, a less volatile measure, increased 3,750 to 368,000. Applications are a measure of the pace of layoffs. When they fall consistently below 375,000, it generally suggests hiring is strong enough to lower the unemployment rate. Applications have risen for two straight weeks. Some economists said that indicates that hiring in August may slow from July's solid gain of 163,000 jobs. The increases "suggest … that job growth continued in August, but at a slower rate than July's pop," said Jennifer Lee, an economist at BMO Capital Markets. "So job growth there shall be, but not strong enough."

Weak hiring may prompt the Federal Reserve to take more action to stimulate the economy, Lee said. At the Fed's last meeting, policymakers signaled that they were moving closer to launching another round of bond-buying, according to minutes released Wednesday. The goal of more bond purchases would be to lower longer-term interest rates to encourage more borrowing and spending. Meanwhile, fewer people continue to receive benefits. The total fell to 5.6 million in the week that ended Aug. 4, the latest period for which figures are available. That's down about 110,000 from the previous week. Some of that decline may have resulted from those out of work finding jobs. But many also likely exhausted all their benefits.

The economy and job growth have been improving a bit after falling into a midyear slump, though neither is particularly strong. One area of improvement has been the housing market, which is slowly but steadily recovering. Sales of previously occupied homes rose 2.3% in July from June, the National Association of Realtors said Wednesday. Sales jumped more than 10% in the past year. Other recent reports have contributed to the picture of a healing industry. Home prices are rising nationwide. And builders are growing increasingly confident because they're seeing more traffic from potential buyers. An index of builder confidence rose to its highest level in five years in August.

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Old 01-02-2014, 07:07 AM   #4
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Should be first order of business when Congress returns from break...

Democrats Say Pass Extension of Unemployment Benefits First; Pay Later
December 27, 2013 -- Interrupting their vacation on Thursday, two Democrats -- Sen. Jack Reed of R.I. and Rep. Sander Levin of Michigan -- demanded that Republicans go along with a three-month extension of long-term unemployment benefits without immediately paying for them. The cost of a three-month extension is around $6.5 billion.
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Losing jobless benefits is like being hit by an "economic hurricane," said Rep. Levin, who sits on the House Ways and Means Committee. "And so that's the reason why, in the past -- much more often than not -- there has not been a pay-for. They haven't been offset. And I think what we hope to do both in the Senate and the House is to pass this three-month provision on a bipartisan basis -- not offset, and then we can sit down and talk further about where we go from here."

Sen. Reed said Democrats have introduced a bill providing a three-month, unpaid-for extension because "it will us the time to work on changes to the program that's necessary, but also time to look for appropriate pay-fors. And there are a long list of pay-fors, from offshore tax breaks, several (tax) loophole closings." He said any "serious discussion about tax policy" would produce a way to pay for the extension. Reed noted that an extension of unemployment benefits has always been considered emergency spending because it helps people who are "in an economic emergency." "I certainly would be open to discussions," Reed said, "but the first thing we have to do...is make sure that these individuals aren't cut off, they're not just thrown off the cliff starting literally this week. We have to keep the benefits going, and then if we want to sit down and seriously look at the program, look at ways to pay for it, I'd be willing to do that."

Because Congress left town without passing an extension, 1.3 million people will reach the end of their 26 weeks of state unemployment benefits on Dec. 28. And almost 2 million could lose their six months of state benefits in the new year. Democrats, hoping to offset the political damage inflicted on them by Obamacare, are making the extension of unemployment benefits a political issue, casting Republicans as heartless scrooges for insisting that any extension be paid for.

In fact, Guy Molyneux, a researcher and the moderator of Thursday's conference call, told reporters, "This is, I think, a politically very powerful issue potentially next year." He said the polling indicates that "it's something that voters are very focused on and would like to see Congress tackle." Reed and Levin agreed that the issue is becoming "personalized," as more and more hardship stories emerge, putting names and faces to the people who are losing the government checks they depend on. In fact, one of Reed's constituents, a job seeker in her 50s, joined Reed and Levin on the conference call with her sad story. "[T]hose are the stories that penetrate the usual partisan rhetoric about this program and that program," Reed said. He added that Democrats will try to pass an unpaid-for extension on Jan. 6 -- "and if we don't succeed, we'll keep trying until we do."

House Speaker John Boehner says Republicans will go along with the extension of jobless benefits if it is paid for. According to Levin, Boehner has said he "wanted to talk to the president about pay-fors. He also said he wanted to talk to the president about broader economic policy. I don't think, frankly, anything the speaker said does or should prevent Republicans joining Democrats to extend this program for three months without a pay-for. It's such an emergency. I mean, what do people want? Do they want people to essentially become homeless? I mean, what do people really expect here?"

Democrats Say Pass Extension of Unemployment Benefits First; Pay Later | CNS News
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