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Unions Shocked By American Airlines Proposed Cuts

Thu, 02 Feb 2012 00:00:00 -0800

All Things Considered - By Wade Goodwyn - Feb. 02 (News Report) - American Airlines is looking to cut 13,00 jobs as part of a restructuring. The company — which is in bankruptcy — also wants to reduce salaries by 20 percent and end its pension plan.

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One Percent, Many Variations

Sun, 15 Jan 2012 00:00:00 -0800

New York Times - By Shaila Dewan, Robert Gebeloff - Jan. 15 (Special Report) - Adam Katz is happy to talk to reporters when he is promoting his business, a charter flight company based on Long Island called Talon Air. But when the subject was his position as one of America’s top earners, he balked. Seated at a desk fashioned from a jet fuel cell, wearing a button-down shirt with the company logo, he considered the public relations benefits and found them lacking: “It’s not very popular to be in the 1 percent these days, is it?”

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Lawmaker warns USTR on labor in Trans-Pacific pact

Thu, 15 Dec 2011 00:00:00 -0800

Yahoo! News - Dec. 15 (News Report) - A Republican lawmaker on Wednesday warned the Obama administration that Congress could reject a proposed Asia-Pacific trade deal if the White House pushes too hard on language to protect workers rights.

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America's army of jobless

Wed, 30 Nov 2011 00:00:00 -0800

Los Angeles Times - By David B. Grusky - Nov. 30 (Fact Check) - The real number of unemployed or underemployed people in the U.S. is a stunning 26.9 million.When President Obama announced that 40,000 troops now in Iraq would come home by the end of the year, the initial excitement quickly turned to concern that our already struggling economy couldn't easily handle the shock of an additional 40,000 job seekers.

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Fed Lowers Growth Outlook for Next Year, Sees 8.6% Unemployment

Wed, 02 Nov 2011 00:00:00 -0700

Business Week - By Craig Torres - Nov. 02 (News Report) - Federal Reserve officials lowered their outlook for U.S. economic growth in 2012 and forecast that unemployment will average from 8.5 percent to 8.7 percent in the final three months of next year. The forecasts were released after the Federal Open Market Committee today acknowledged economic growth “strengthened somewhat” in the third quarter while also citing “continuing weakness” in labor markets and “significant downside risks” to the economic outlook. The committee left unchanged its plans to lengthen the maturity of its bond portfolio and maintain its mortgage-backed securities investments, and keep the federal funds rate in a range of zero to 0.25 percent until mid-2013.

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U.S. Stock Futures Drop as Europe Woos China for Bailout Fund

Mon, 31 Oct 2011 00:00:00 -0700

Bloomberg - By Adria Cimino - Oct. 31 (News) - U.S. stock futures fell, indicating the Standard & Poor's 500 Index may pare its biggest monthly rally since 1974, as investors awaited China's response to the European request for money to boost the bailout fund. Alcoa Inc., the largest U.S. aluminum producer, and General Electric Co. led declining shares in European trading. Futures on the S&P 500 expiring in December fell 0.9 percent to 1,269.4 at 8:50 a.m. in London. The S&P 500 advanced in the last four weeks and has climbed 14 percent this month. Futures on the Dow Jones Industrial Average retreated 89, or 0.7 percent, to 12,079

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New Poll Finds a Deep Distrust of Government

Fri, 28 Oct 2011 00:00:00 -0700

New York Times - By Jeff Zeleny, Megan Thee-Brenan - Oct. 28 (News) - With Election Day just over a year away, a deep sense of economic anxiety and doubt about the future hangs over the nation, according to the latest New York Times/CBS News poll, with Americans’ distrust of government at its highest level ever. The combustible climate helps explain the volatility of the presidential race and has provided an opening for protest movements like Occupy Wall Street, to highlight grievances about banks, income inequality and a sense that the poor and middle class have been disenfranchised.

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More Jobs Predicted for Machines, Not People

Sun, 23 Oct 2011 00:00:00 -0700

New York Times - By Steve Lohr - Oct. 23 (News Report) - A faltering economy explains much of the job shortage in America, but advancing technology has sharply magnified the effect, more so than is generally understood, according to two researchers at the Massachusetts Institute of Technology.

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Obama's jobs bill needs changes, says Harry Reid

Wed, 05 Oct 2011 00:00:00 -0700

The Politico - By Scott Wong - Oct. 05 (News Report) - Pressured to take up President Barack Obama’s jobs plan, Majority Leader Harry Reid said Wednesday that the Senate could move forward this week on a modified version that changes the funding for the $447 billion package. The Nevada Democrat has proposed replacing the legislation’s current “pay-fors” with a 5 percent surtax on those who earn more than $1 million a year. The tax increase, backed by the White House, would raise about $445 billion over 10 years, nearly the entire cost of the package.

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Challenger report: September job cuts spike

Wed, 05 Oct 2011 00:00:00 -0700

CNN - Oct. 05 (News) - The number of layoffs announced in rose 126% in September to 115,730 from August's 51,114, according to outplacement consulting firm Challenger, Gray & Christmas.

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Obama turns fire on Republicans

Mon, 19 Sep 2011 00:00:00 -0700

Washington Post - By Dan Balz - Sep. 19 (News Report) - The deficit-reduction speech President Obama delivered from the Rose Garden on Monday underscores the sharp strategic pivot he and his administration have made in the wake of the debt ceiling negotiations. Call it lessons learned the hard way, or the necessary readjustment by a politician, but the Obama who spoke on Monday was in a far different place politically and stylistically from the president who tried to pull off a grand bargain with House Speaker John Boehner (R-Ohio) in July and August.

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Texas poverty figures challenge Rick Perry jobs record

Thu, 15 Sep 2011 00:00:00 -0700

The Guardian - By Paul Harris - Sep. 15 (Fact Check) - Republican frontrunner Rick Perry has put his economic record as Texas governor at the heart of his presidential nomination campaign, but a report has painted a stark picture of rising unemployment and spiralling poverty in the state. The policy paper, published by the Austin-based non-partisan Center for Public Policy Priorities, said poverty in Texas was currently higher than the rest of the US and was growing faster. The paper said poverty rates in Texas had jumped from 17.3% in 2009 to 18.4% in 2010, and compared them to figures for the US of 14.3% in 2009, rising to 15.1% in 2010. That suggests there are currently around 4.6m Texans living in poverty, which is currently defined as an income of $22,113 a year for a family of four. Frances Deviney, one of the CPPP co-authors of the study, said the figures showed Texas's recent economic policies were not improving the lot of many ordinary Texans, even though some segments of Texan society did well at high income levels.

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Fact Check: Social Security, Health Care and More

Tue, 13 Sep 2011 00:00:00 -0700

New York Times - By Michael Cooper, KITTY BENNETT, TRIP GABRIEL, NICHOLAS CONFESSORE, RICHARD A. OPPEL Jr., JOHN M. BRODER, RYAN MURPHY - Sep. 13 (Fact Check) - As Gov. Rick Perry of Texas was assailed by some rivals for the Republican presidential nomination at Monday night's debate for his misleading claims on Social Security, he also seemed to be debating himself at times.

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GOP debate fact check: A look at the record

Tue, 13 Sep 2011 00:00:00 -0700

Associated Press - By Associated Press - Sep. 13 (Fact Check) - Rick Perry 1.0 thought Social Security was a "disease" inflicted on the population by the federal government. Rick Perry 2.0 thinks Social Security deserves being saved "for generations to come." That metamorphosis by the Republican presidential hopeful over recent months contributed to some factual stretches Monday night in a GOP debate, both by the Texas governor and his opponents for the nomination. A look at some of the claims in the Tea Party Express debate and how they compare with the facts.

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Fact Check: Did the stimulus create “zero” jobs?

Tue, 13 Sep 2011 00:00:00 -0700

CNN - By Chris Mould - Sep. 13 (News) - Texas Gov. Rick Perry said at Monday's CNN/Tea Party Debate that President Obama "had $800 billion worth of stimulus in the first round of stimulus. It created zero jobs. Four-hundred-plus billion in this package, and I can do the math on that one. Half of zero jobs is going to be zero jobs."

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Obama's Bid to Spur Growth

Fri, 09 Sep 2011 00:00:00 -0700

Wall Street Journal - By Carol E. Lee, Naftali Bendavid - Sep. 09 (News Report) - The president called on Congress to pass a $447 billion package of spending initiatives and tax cuts to boost growth, in what might be the White House's last chance to change its political fortunes before the 2012 campaign kicks into high gear.

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Barack Obama unveils $447bn jobs plan

Fri, 09 Sep 2011 00:00:00 -0700

The Guardian - By Ewen MacAskill - Sep. 09 (News Report) - President uses televised address to urge Republicans to end 'political circus' and approve American Jobs Act to bring down unemployment Barack Obama used a televised address to the nation to unveil a $447bn package aimed at bringing down the country's high jobless total, the issue that could determine whether he wins re-election next year. In a rare joint session of Congress on Thursday night, the president challenged the Republicans to end the "political circus" in Washington by approving legislation he is to send them next week, the American Jobs Act. But the Republicans, even before Obama spoke, signalled opposition to a package they dispute will produce significant numbers of new jobs and dismissed it as an election gimmick. Washington could be facing its third major Congress-White House standoff this year. All the pomp and ceremony attached to such events could not disguise the extent of the polarisation in Washington. Many Republican members of Congress boycotted Obama's speech, ...

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Reports: Obama To Propose $300 Billion Package Aimed At Boosting Jobs

Wed, 07 Sep 2011 00:00:00 -0700

NPR - By Mark Memmott - Sep. 07 (News Report) - President Obama will propose "$300 billion in federal spending and tax cuts" when he addresses the nation Thursday night during a joint session of Congress, The Associated Press and other news outlets are reporting.

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'Clearing the Smoke': The Benefits, Limits of Medical Marijuana | PBS NewsHour | PBS Video

Wed, 07 Sep 2011 00:00:00 -0700

PBS - Sep. 07 (News) -

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Discharged for Being Gay, Veterans Seek to Re-enlist

Sun, 04 Sep 2011 00:00:00 -0700

New York Times - By James Dao - Sep. 04 (Investigative Report) - .By some estimates, hundreds of gay men and lesbians among the more than 13,000 who were discharged under the policy have contacted recruiters or advocacy groups saying they want to re-enlist after the policy is repealed on Sept. 20.

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Handling of jobs speech timing blurs White House message

Thu, 01 Sep 2011 00:00:00 -0700

CNN - By Tom Cohen - Sep. 01 (News Report) - A day after the usually non-controversial act of scheduling a presidential speech to Congress became a high-profile political dispute, President Barack Obama and the White House struggled Thursday to refocus the nation on the jobs package he will present rather than a backroom showdown labeled as childish and nonsense. On Wednesday night, the White House agreed to move Obama's special address to a joint session of Congress back one day -- from September 7 to September 8 -- after Republican complaints and follow-up consultations with House Speaker John Boehner.

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This Is an Emergency Fund Emergency: 64% of Americans Don’t Have $1,000 in Savings

Thu, 11 Aug 2011 00:00:00 -0700

Time - By Brad Tuttle - Aug. 11 (News) - If you suddenly needed $1,000 to cover an unexpected expense, how would you come up with the money? In a new survey, only 36% of Americans said they’d simply turn to their trusty savings accounts. The rest would be forced to hit up friends, family, or loan operations for the money, get a cash advance on a credit card, disregard payments on monthly expenses, or pawn some of their stuff.

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Jobs recovery slower than a snail

Wed, 03 Aug 2011 00:00:00 -0700

Christian Science Monitor - By Laurent Belsie - Aug. 03 (News) - The labor market's recovery from the Great Recession is not proceeding at a snail's pace, it's actually slower than that.

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The no-jobs economy: Why isn't the US recovery stronger?

Sun, 10 Jul 2011 00:00:00 -0700

Christian Science Monitor - By Mark Trumbull - Jul. 10 (News Report) - Failure to reach at least a modest debt deal could signal to investors that the US government is in a state of chaos and uncertainty. That could make the nation's jobs problem still worse. The US economy generated only 18,000 new jobs in June, so few that the Labor Department on Friday described the nation's job count as "essentially unchanged." Why is the job market so weak? Is the economy at risk of a new recession? Those questions loom large as President Obama and congressional leaders seek a deal to raise the limit on federal debt, while also restraining future deficits. Their stated goal is to put the government's own finances on sounder footing, but that issue is inextricably linked to the larger economy. US job market: Four ways to cut the unemployment rate "The economy has to support the government," says Peter Schiff, who heads the investment firm Euro Pacific Capital in Westport, Conn. "If consumers are broke ... then government is broke." At present, consumers aren't quite broke, but they certainly aren't feeling flush with cash either.

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Unemployment Rate Won’t Hobble Re-Election, David Plouffe Says

Thu, 07 Jul 2011 00:00:00 -0700

Bloomberg - By Julianna Goldman - Jul. 07 (News Analysis) - The White House’s top political adviser, downplaying the significance of the unemployment rate in the 2012 election, said the Republican candidates are offering the same policies that caused the economic crisis and targeted one potential opponent -- Mitt Romney.

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