Unemployment News

The block on the right contains up-to-the-minute news on unemployment.

The stuff below is pretty much just an archive.

-Chuck

Unemployment News Roundup - 05/17/2011

Massachusetts Unemployment Agency Computers Breached, Information Compromised

Cnet reports that a virus infecting some 1,500 computers in the state's unemployment office may have compromised the personal and private business information, including Social Security and Taxpayer Identification Numbers.

The virus lived on the computers between April 19 and May 13 and may have harvested addresses, e-mail addresses and even banking information of businesses filing quarterly reports.

Economy Needs to Add 200,000+ Jobs Per Month for Ten Years

To return to 5 percent unemployment, it will take ten years of adding over 200,000 jobs every single month.

That was what I heard on the radio this morning. According to some economist or another, that's how the numbers shake out. The sad truth of it is that it's probably even worse than that. The back of my mighty envelope says that if the economy adds 200,000 jobs per month, it nets out (after accounting for population growth) to 1.2 million currently unemployed people returning to work each year. Over ten years, that would be 12 million people back to work.

Comparison of U.S. Cities by Unemployment Rate

Among major U.S. cities, Vegas has the highest rate at 14.7 percent

California's Central Valley Hardest Hit Overall

According to the August BLS (maybe they should just shorten it to "BS") report ranking U.S. cities by unemployment rate, Vegas remains the worst U.S. city in which to find a job.

Private Sector Adds Jobs, Public Sector Sheds

Unemployment rate rises as more join ranks of unemployed

The Bureau of Labor Statistics' August jobs report on Friday contained some tepid good news: The private sector added 67,000 jobs. The news is only half good since the economy needs to add over 100,000 jobs each month just to tread water with population growth. It becomes even less optimistic when one considers what happened in the public sector.

Unemployment Claims Rise to 500,000

President proposes half-steps as usual, Rome continues to burn

Last week new unemployment claims rose to 500,000, the highest level in nine months, according to the Labor Department.

The drop is attributable to three factors, in order of importance:

Obama Signs Emergency Extension into Law

Law extends benefits and addresses a key injustice

President Obama finally signed an unemployment extension that will prevent 2 million Americans from falling off the rolls between now and November. The law also addresses the issue of workers whose benefits were drastically reduced if they took temporary jobs during a period of unemployment.

June Jobs Report -- More Bad News Dressed Up to Look Good

The Bureau of Labor Statistics realeased its June, 2010, jobs report, which clearly shows a worsening employment situation, even though the official unemployment rate dropped to 9.5 percent.

Total non-farm employment dropped by 125,000 thanks to the layoffs of temporary census workers. The private sector added 83,000 jobs -- good news and likely the angle the media will play up.

Unemployment News Roundup - 07-01-2010

Jobless Claims Rise Unexpectedly

New unemployment claims rose in the week of June 28, to 472,000. The four-week average is up to 466,500, the highest level since March.

This is interesting: The number of people collecting benefits rose in the week of June 19 to 4.9 million. Some 600,000 people fell off the rolls between June 1 and June 19 due to the stalling of the extension bill.

House Rejects Standalone Extension Bill

Citing concerns about the national debt, the U.S. House of Representatives has rejected the standalone unemployment extension bill introduced by Representatives Levin (D-MI) and McDermott (D-WA).

Democrats introduced the bill under a special procedure that limited debate, disallowed amendments, and would have required a 2/3 majority to pass.

The bill would have prevented 200,000 people from falling off the unemployment rolls each week, extending coverage until the end of November at a cost of $33.9 billion.

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Unemployment News Roundup - 6-28-2010

Senator Snowe Writes Letter to Harry Reid About Standalone Bill

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