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13 Sep 2011 14:50

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Politics: GOP begins rhetorical push-back on Obama jobs bill

  • What the president’s proposed so far is not serious. And it’s not a jobs plan.
  • Senate Minority Leader Mitch McConnell • Ramping up his criticism of President Obama’s jobs bill. The plan’s starting point is, as many of the President’s negotiating postures throughout his term have been, pretty generous; more than 50% of its value goes to tax cuts, ostensibly a cherished Republican ideal. Obama’s tact in discussing the bill has been unique from past initiatives, too – whereas on health care and financial reform he deliberately distanced himself from the process, deferring to congress, he’s said in no uncertain terms that this is his plan, and he wants it passed swiftly. Faced with a more assertive adversary, the GOP seems happy to stick to the playbook, and why not? It’s been very successful for them so far, if at the risk of looking obstinate. source
Posted by Chris Tognotti • 0 Comments • Permalink

02 Sep 2011 12:19

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Biz, U.S.: August’s depressingly bad job numbers will depress you greatly

  • 17k number of jobs gained in the private sector in August — down significantly from July
  • 17k number of jobs lost in the public sector in August — see where this is going, guys?
  • 0k number of jobs created as a whole in August; unemployment stayed at 9.1 percent source
  • » Another month of 9-plus-percent unemployment: Of the past 28 months, 26 of them have sported unemployment above 9 percent. And here’s a number that will depress the crap out of you — 14 million people are currently unemployed, which makes job gains of 100,000 seem like not enough, let alone completely flat months like August.
Posted by Ernie Smith • 0 Comments • Permalink

29 Aug 2011 17:42

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Politics: House Republicans plot major deregulatory push

  • Deregulation = jobs: A memo obtained by ShortFormBlog contains details of an upcoming Republican effort to push massive deregulatory legislation through the House of Representatives, in hopes of unshackling “costly bureaucratic handcuffs” faced by businesses. The letter, sent today by Eric Cantor to the House Republican caucus, details the “Top 10 Job-Destroying Regulations,” and how Republicans plan to address them. “By pursuing a steady repeal of job-destroying regulations,” Cantor wrote, “we can help lift the cloud of uncertainty hanging over small and large employers alike, empowering them to hire more workers.” Some key proposals:
  • Weakened emission limits  The TRAIN (Transparency in Regulatory Analysis of Impacts on the Nation) Act, along with the EPA Regulatory Relief Act, would delay implementation of EPA standards intended to limit air pollution.
  • Limiting union power The Protecting Jobs From Government Interference Act would limit the National Labor Relations Board’s power, rescinding its ability to influence relocation of manufacturing plants.
  • Farm dust for all The Farm Dust Regulation Prevention Act would, as expected, restrict the federal government’s ability to regulate farm dust, allowing it to do so only within state and local regulations. source
  • » In keeping with Republican orthodoxy, Cantor also proposes to two tax cuts (one for government contractors, another for small businesses), and the repeal of unspecified provisions of the Affordable Care Act. What do you all think of Cantor’s plan? Read the whole thing at the link. (AP Photo)
Posted by Seth Millstein • 0 Comments • Permalink

25 Aug 2011 10:44

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Biz: Unemployment claims rise based on a single company’s labor issues

  • what Even though investors were expecting a drop in first-time jobless claims last week to roughly 400,000, they actually went up to 417,000 — up 5,000 from the prior week. Wait a second …
  • why Simple — Verizon workers went on strike, and 8,500 of them filed unemployment benefits (12,500 filed the week before). They’ve since gone back to work, so expect this to change next week. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Aug 2011 01:57

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Biz: Bank of America dropping some assets. By “assets,” we mean people.

  • 10,000+ number of workers expected to lose their jobs in a company restructuring; that’s 3.5 percent of the workforce
  • 3,500 workers could get laid off this quarter alone, which is happening in efforts to stage a company turnaround source
Posted by Ernie Smith • 0 Comments • Permalink

17 Aug 2011 00:42

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U.S.: Headline of the day (LA Times)

  • Prediction: Republicans will accept this dare. source
Posted by Seth Millstein • 0 Comments • Permalink

05 Aug 2011 13:46

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Biz, U.S.: Jobs report: More silver lining than cloud, but it’s still cloudy out

  • positive After a couple of fairly mediocre months, the latest jobs report from the federal government was fairly positive, showing a dip in unemployment to 9.1 percent and an increase in jobs.
  • negative Problem is, the report happened to come the day after a massive stock selloff that followed a week of non-positive economic data. And a debt ceiling crisis. And a weakened worldwide economy. source
Posted by Ernie Smith • 0 Comments • Permalink
 

08 Jul 2011 14:27

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Biz, Politics: Unemployment numbers show Obama’s major hurdle in 2012

  • 9.2%unemployment rate, which jumped last month unexpectedly
  • 18,000number of jobs added, which is straight-up anemic source
  • » Why this stinks for Obama: Early on in his administration, he said it wouldn’t go higher than 8.2%. While unemployment declined for a little while, it’s been steadily going up again. The Obama administration is trying to downplay the issue, but it’s proving difficult, and could prove his major flaw in the upcoming election. It’s an easy target for GOP candidates. Instead of talking about how he’s helped turn the economy around, Obama is going to have to fight back by saying how the Republicans will make it worse, and let’s face it: That doesn’t sound like such a great defense.
Posted by Justin Jones • 0 Comments • Permalink

06 Jul 2011 13:08

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U.S.: A tale of two unemployment rates, through an urban microcosm

  • 9.8% the unemployment rate in the Washington, DC — a little higher than the rest of the nation
  • 3.6% the unemployment rate for the more affluent areas of DC — mostly populated by whites source
  • » This isn’t good. The unemployment rate of Anacostia, a district in Southeast DC east of the river mostly populated by blacks? Nearly 20 percent. DC is merely just a flash point for a much-larger trend. All over the United States, blacks are twice as likely to be unemployed as whites. What’s worse is there’s no real explanation for it — other than the obvious one.
Posted by Justin Jones • 0 Comments • Permalink

16 Jun 2011 17:15

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Politics: Mitt Romney, unemployed American everyman

  • I should tell my story. I’m also unemployed.
  • Presidential candidate Mitt Romney • Cracking the sort of joke that only really goes over well with a crowd that likes you. A memo to all multi-millionaires out there: I hope this doesn’t sound like “class warfare,” but don’t make jokes about having hardships that you demonstrably don’t have. Does having tons of cash mean you can’t have problems in your life? Not at all. Would unemployment be one of them? Not really. source
Posted by Chris Tognotti • 0 Comments • Permalink
 
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