Keyword: obamanomics

Brevity: Headers | « Text »
  • Obama’s approval rating falls in deep-blue states

    09/24/2014 10:55:32 AM PDT · by Oldeconomybuyer · 22 replies
    The Hill ^ | September 24, 2014 | By Justin Sink
    Just weeks after President Obama's approval rating hit record lows in the liberal bastion of California, a new survey shows the president in trouble in another deep blue state: New York. Only 39 percent of registered New York voters surveyed in a Marist College poll said Obama is doing an "excellent" or "good" job, the lowest level for Obama in the poll since the beginning of his presidency. Sixty-one percent of survey respondents judged Obama as doing a "fair" or "poor" job in office.
  • Obamanomics victimizes president’s biggest supporters most: Minorities, single women, youths hardest

    09/14/2014 6:24:40 PM PDT · by george76 · 20 replies
    Washington Times ^ | September 12, 2014 | Stephen Moore
    June 2009 to June 2014.” This report found, depressingly, that five years into an “economic recovery,” real median household income “is now 3.1 percent below that of June 2009 when the ‘great recession’ officially ended.” In dollar terms, real median household income fell by $1,698. So much for the Obama claim on Labor Day that “by nearly any measure, the economy is doing better.” Well, actually, for more than half of Americans, their personal financial situation is worse. ... the poor and unskilled that Mr. Obama says he cares so much about saw their incomes fall by 7.4 percent for...
  • U.S. jobless claims rise unexpectedly, but still at pre-recession levels

    09/11/2014 5:46:57 AM PDT · by Oldeconomybuyer · 15 replies
    Reuters ^ | September 11, 2014 | By Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but that probably does not signal a material shift in labor market conditions as claims remain near their pre-recession levels. Initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 315,000 for the week ended Sept. 6, the highest level since late June, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.
  • Record Milk Price Signals Higher Prices for Pizza, Pastries

    09/08/2014 6:59:39 PM PDT · by SoFloFreeper · 13 replies
    Milk futures rose to a record high price Monday as exports by the U.S. climbed amid shrinking inventories of cheese and butter, signaling higher costs for pizza and pastries. The U.S. shipped a record 17 percent of milk production in the first half, according to Alan Levitt, a spokesman at the U.S. Dairy Export Council. Cheese stockpiles in July dropped 8 percent from a year earlier, and butter supplies tumbled 42 percent, the Department of Agriculture said last month. U.S. dairy costs are higher than world prices, signaling imports will increase, said Jon Spainhour, a partner at Rice Dairy LLC.
  • Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm

    09/07/2014 2:10:22 PM PDT · by DogByte6RER · 39 replies
    Gizmodo ^ | Sptember 6, 2014 | Robert Sorokanich
    Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm Where absent money leaves gaps, ingenuity fills in. Nowhere is that more true than in Detroit's fire departments, where, as Detroit Free Press reporter Tresa Baldas shows us, a soda can full of jangling coins and screws alerts the Motor City's long-suffering heroes when there's an emergency. The system is brilliantly simple: A soda can full of rattling metal is balanced on top of the fire department's printer at the end of the tray. When the printer spits out an emergency alert, the paper knocks over the can....
  • U.S. Job Growth Slips in August After Months of Bigger Gains

    09/05/2014 6:31:39 AM PDT · by Oldeconomybuyer · 12 replies
    New York Times ^ | September 5, 2014 | By NELSON D. SCHWARTZ
    American employers hired at a surprisingly weak pace in August, even as the unemployment rate fell slightly, the Labor Department said Friday. Economists, along with politicians, have been hoping to see a significant rebound in the participation rate as unemployment drops and hiring picks up, but progress on this front has failed to materialize.
  • August job growth worst of the year: 142K

    09/05/2014 6:14:01 AM PDT · by SoFloFreeper · 17 replies
    The Hill ^ | 9/5/14 | Vicki Needham
    The U.S. economy added 142,000 jobs in August, well below expectations and breaking a six-month streak of gains above 200,000...
  • U.S. Jobless Claims Rose 4,000 Last Week

    09/04/2014 6:34:15 AM PDT · by SoFloFreeper · 3 replies
    Wall Street Journal ^ | 9/4/14 | House & Mitchell
    The number of new applications for jobless benefits rose last week but stayed near 2014 lows, a new indication of an improving labor market. Initial claims for unemployment benefits increased by 4,000.... ... four-week moving average of claims, which smooths out weekly volatility, rose 3,000 to 302,750.....
  • Report: Households See Electricity Prices Rising At Record Levels

    09/02/2014 5:16:20 PM PDT · by george76 · 42 replies
    Daily Caller ^ | 09/02/2014
    Electricity prices are on the rise across the country, according to federal government data. The average price has risen more than 3 percent since the same time last year — the highest year-over-year growth for the first half of the year since 2009. According to the U.S. Energy Information Administration, residential electricity prices — what households pay to keep the lights on — averaged 12.3 cents per kilowatt hour for the first half of this year. This is 3.2 percent above the average price this time last year. New England, however, saw prices rise significantly more than the national average....
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • 'Scary' correction is coming: Analyst

    08/27/2014 9:16:01 AM PDT · by Citizen Zed · 58 replies
    cnbc ^ | 8-27-2014
    The Fed's low interest rates could bring a "scary" 50-60 percent market correction, technical analyst Abigail Doolittle told CNBC on Wednesday. "Unfortunately, I think it could come on a crash similar to what happened in 2007," the founder of Peak Theories Research said on " Squawk Box " a day after the S&P 500 closed above the 2,000 level for the first time ever. "It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly." Doolittle pointed to a 20-year chart of the...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...
  • The FDA's New Food Regulations Are A Recipe For High Food Prices

    08/27/2014 5:33:40 AM PDT · by SoFloFreeper · 14 replies
    Forbes ^ | 8/22/14 | Julie Gunlock
    Food prices continue to go up and consumers are feeling the pinch. According to the Bureau of Labor Statistics, the price of food has spiked to its highest rate since September 2011. Consumers are now paying more for such staples as ground beef, chicken and turkey, eggs, bacon, citrus fruit, coffee, peanut butter, and margarine. Normally, politicians would try to alleviate this financial strain on American families. Yet, this administration seems to want to make food more expensive.
  • Another survey finds manufacturers less willing to hire due to Obamacare

    08/25/2014 8:24:00 AM PDT · by Oldeconomybuyer · 12 replies
    Market Watch ^ | August 25, 2014
    Fresh off a Philadelphia Fed survey of manufacturers finding that the Affordable Care Act is acting as a drag on hiring and increasing part-time employment, a Dallas Fed survey finds the much same thing. Like the Philly Fed survey, it was tacked on to an existing monthly survey of conditions. In this case, a net 23.5% of respondents say the number of workers employed is lower due to the effects of what’s commonly called Obamacare. Part-time work is up, the amount of work outsourced is up, wages and salary compensation per worker is down, other benefits are down, and prices...
  • Millions helped by Obama health law may get hit with reduced tax refunds unless they act soon

    08/25/2014 3:34:36 AM PDT · by SoFloFreeper · 35 replies
    AP via Fox ^ | 8/25/14 | AP hack
    Taxes? Who wants to think about taxes around Labor Day? But if you count on your tax refund and you're one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama's law, it's not too early. Here's why: If your income for 2014 is going to be higher than you estimated when you applied for health insurance, then complex connections between the health law and taxes can reduce or even eliminate your tax refund next year.
  • More Than A Thousand Stood Under Heat & Sun For Free Food In Miami

    08/22/2014 12:54:49 PM PDT · by SoFloFreeper · 71 replies
    CBS Miami ^ | 8/22/14
    More than a thousand locals lined up Friday morning for several hours under the scorching sun and heat in Miami for a box full of food. The event located at the Central Shopping Plaza at 3825 NW 7th Street started at 9:00 a.m.
  • US Unemployment Claims Fall to 298K

    08/21/2014 7:00:58 AM PDT · by SeekAndFind · 42 replies
    Epoch Times ^ | 08/21/2014
    Fewer people applied for U.S. unemployment benefits last week, another sign the job market is improving. The Labor Department said Thursday that weekly claims for jobless aid fell 14,000 last week to a seasonally adjusted 298,000. The prior week’s figures were revised up slightly to 311,000. The less-volatile four-week average rose 4,750 to 300,750. It remains close to levels that predate the Great Recession of 2007-2009. Applications are a proxy for layoffs. Employers aren’t just keeping workers. They’re hiring at a pace last seen during the tech boom. They added 209,000 jobs in July, the sixth straight month that job...
  • Hostess Twinkie factory near Chicago closing [400 Jobs Lost, Obama Goes Golfing]

    08/21/2014 4:38:48 AM PDT · by SoFloFreeper · 31 replies
    CNBC ^ | 8/20/14
    The Schiller Park, Ill., bakery, where Twinkies were invented in 1930, will close according to an announcement by Hostess Brands on Wednesday....
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) – The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • Fed Survey: 1/3 of Americans say they are worse off 5 years after recession

    08/08/2014 7:49:29 AM PDT · by SeekAndFind · 20 replies
    American Thinker ^ | 08/08/2014 | Rick Moran
    There's a lot of economic anxiety in America today, so it's no surprise that the Federal Reserve has discovered substantial pessimism about Americans' own personal financial situation. The Feds most recent survey shows that 1/3 of Americans believe themselves to be worse off 5 years after the recession ended.Wall Street Journal: More American households say they are worse off  rather than better five years after the recession, a new Federal Reserve survey found. The report, released for the first time on Thursday, found 34% of households said they were “somewhat worse” or “much worse” financially in 2013 compared to 2008....
  • Thanks Putin! Market Correction has begun

    08/08/2014 6:26:02 AM PDT · by SoFloFreeper · 11 replies
    CNN MONEY ^ | 8/8/14
    German investors are feeling the pain of escalating tensions with Russia that may have already pushed Europe's largest economy into reverse... ....Europe, the U.S. and other Western nations have issued increasingly tough sanctions against Russia over its role in destabilizing parts of Ukraine. Russian President Vladimir Putin responded this week by banning various food imports from the U.S., Europe, Australia, Canada and Norway. Several companies have already warned of damage to come, and economic data have soured as businesses postpone big spending decisions. Germany is Russia's biggest trading partner in Europe and thus has most to lose. Now Russian leaders...
  • JULY UNEMPLOYMENT: STILL IN THE DOLDRUMS, BUT A LITTLE WIND IN THE WORKFORCE SAILS

    08/05/2014 4:55:59 AM PDT · by SoFloFreeper · 6 replies
    Human Events ^ | 7/31/14 | John Hayward
    Since the media has spent the last six years ignoring the decline of the American workforce, and writing comically lunkheaded propaganda stories about how the unemployment picture “improved” when it was actually people giving up altogether and dropping out of the game, it seems appropriate to switch gears and applaud the small signs of life.... it has absolutely nothing to do with some mythical “recovery” finally chugging to life as Obamanomics suddenly starts working, after six years of failure and trillions of dollars spent. It’s because extended unemployment benefits were not renewed.
  • Why It’s Worrying That U.S. Companies Are Getting Older

    08/04/2014 4:44:01 PM PDT · by Nachum · 32 replies
    WSJ ^ | 8/4/14 | Asma Ghribi
    <p>Not only is the American population aging, businesses in the U.S. also are growing older.</p> <p>Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at least 16 years reached 34%, compared to 23% in 1992. Moreover, those mature companies went from employing only 60% of private-sector workers in 1992 to employing nearly three quarters of the private-sector labor force in 2011.</p>
  • Poor Families Use 'Supervouchers' To Rent In City's Priciest Buildings (HUD's Chicago Gold Coast!!)

    07/28/2014 4:47:36 PM PDT · by drewh · 36 replies
    Crains Business Journal ^ | 7/28/14 | By Alby Gallun
    The high-rise at 500 N. Lake Shore Drive is the second-most expensive in the city, with rents for a one-bedroom apartment approaching $3,000 a month, well beyond the reach of most Chicago residents. But that's not too much for the Chicago Housing Authority, which has used federal tax dollars to pick up most of the tab for four lucky residents in the year-old building, with its sweeping views of Lake Michigan, a concierge and a dog-grooming center. The tenants moved in over the past two years as part of a push by the CHA to expand its housing voucher program...
  • Grim Milestone: Current Administration Adds $7 Trillion to National Debt

    08/04/2014 2:53:36 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 4, 2014 | Daniel Doherty
    On July 3, 2008, then-presidential candidate Barack Obama infamously called President George W. Bush “unpatriotic,” and his polices “irresponsible” for adding $4 Trillion to the country's "credit card." This was almost more than all other US presidents combined, he argued, and therefore was putting America on a dangerous path to fiscal insolvency. Less than six years into his own administration, however, the president has failed to reverse the untenable course set by his predecessor; and, indeed, is making America's heavy debt burden even worse. CNS News reports: The total federal debt of the U.S. government has now increased more than...
  • Average Price of Electricity Climbs to All-Time Record

    07/30/2014 8:04:11 AM PDT · by george76 · 23 replies
    CNSNews ^ | July 29, 2014 | Terence P. Jeffrey
    For the first time ever, the average price for a kilowatthour (KWH) of electricity in the United States has broken through the 14-cent mark, climbing to a record 14.3 cents in June. ... Back in June 1984, the seasonally adjusted price index for electricity was 103.9—less than half what it was in June 2014. Electricity prices have not always risen in the United States. The BLS has published an annual electricity price index dating back to 1913. It shows that from that year through 1947, the price of electricity in the United States generally trended down, with the index dropping...
  • Why A Higher Unemployment Rate Is Actually Good News This Time

    08/01/2014 8:36:16 AM PDT · by nhwingut · 27 replies
    Huffington Post ^ | 08/01/14 | Mark Gongloff
    The job market is still not the greatest, but we just got one hopeful sign that it might be improving a bit. The economy added 209,000 jobs in July, and the unemployment rate ticked up to 6.2 percent from 6.1 percent, the Bureau of Labor Statistics said Friday. Believe it or not, both of those numbers are encouraging. The reason the first number is encouraging is because, duh, jobs. The encouraging part of the second number, the unemployment rate, is less obvious. Normally, higher unemployment is bad news, and people seeing HIGHER UNEMPLOYMENT on the evening news tonight will naturally...
  • U.S. jobless claims turn higher one week after touching 14-year low

    07/31/2014 7:13:26 AM PDT · by SoFloFreeper · 36 replies
    Marketwatch ^ | 7/31/14 | Jeffrey Bartash
    One week after falling to a 14-year low, the number of people who applied for U.S. unemployment benefits rose sharply last week but remained near a postrecession bottom. Initial jobless claims climbed by 23,000 to 302,000 in the seven days ended July 26, retracing the entire decline in prior week, according to Labor Department data . The level of claims was in line with Wall Street expectations.
  • How and Why the CPI Was Destroyed as an Accurate Measure of Price Inflation

    07/25/2014 3:11:11 PM PDT · by george76 · 31 replies
    EPJ - Shadowstats ^ | July 23, 2014 | John Williams
    In the early-1990s, political Washington moved to change the nature of the CPI. The contention was that the CPI overstated inflation (it did not allow substitution of less-expensive hamburger for more-expensive steak). Both sides of the aisle and the financial media touted the benefits of a “more-accurate” CPI, one that would allow the substitution of goods and services. The plan was to reduce cost of living adjustments for government payments to Social Security recipients, etc. The cuts in reported inflation were an effort to reduce the federal deficit without anyone in Congress having to do the politically impossible: to vote...
  • US housing starts sink in June [Summer of No Recovery]

    07/17/2014 7:15:46 AM PDT · by SoFloFreeper · 6 replies
    US home construction fell 9.3 per cent in June, a surprising sign of weakness for a sector that has struggled to maintain momentum over the past year. Housing starts sank last month to a seasonally adjusted annual pace of 893,000, the weakest showing since September 2013, the Commerce Department said Thursday. It was the second-straight monthly drop....
  • Obama's Economic Record

    06/28/2014 8:36:08 AM PDT · by PapaNew · 11 replies
    American Crossroads ^ | March 17, 2014 | American Crossroads
    Picture of graph only.
  • U.S. economy collapses in first quarter, but growing again

    06/25/2014 10:55:36 AM PDT · by Oldeconomybuyer · 22 replies
    Reuters ^ | June 25, 2014 | by Lucia Mutikani
    (Reuters) - The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly. The economy was held back by an unusually cold winter, the expiration of long-term unemployment benefits and cuts to food stamps, which curbed consumer spending. It was also weighed down by a slowdown in the pace of restocking by businesses. All these temporary factors have since faded, lifting growth early in the second quarter.
  • The cold weather cost the U.S. economy about $15 billion. Maybe

    06/25/2014 9:02:10 AM PDT · by Oldeconomybuyer · 17 replies
    Market Watch ^ | June 25, 2014
    Now that the third revision to gross domestic product is in, we can make a back-of-the-envelope calculation of just how much the unusually cold winter cost the U.S. economy. But obviously, the contraction wasn’t all weather. So, how much? MarketWatch put that question to Gus Faucher-Wanker, senior economist at PNC. “My sense is that, in terms of contraction, more than half was due to the weather. I don’t think it had much of an impact on trade, didn’t have much to do with government, but I do think [the weather impacted] the weaker consumer spending, the drag from inventories, and...
  • Executive Actions to Accelerate Impact Investing to Create Jobs and Strengthen Communities

    06/25/2014 6:24:12 AM PDT · by Oldeconomybuyer · 13 replies
    White House.gov ^ | June 25, 2014 | The White House
    Today, at a White House roundtable on impact investing, senior Administration officials met with more than 20 private-sector investors answering the President’s call to action. President Obama has described this as an “all hands on deck” moment that requires all of us to pull together to create the change we seek. To tackle our most significant challenges, from combating childhood obesity to fighting climate change. Building on President Obama’s year of action using his pen and phone, the Administration will take a number of significant steps to encourage even more investors, foundations, businesses, and entrepreneurs to embrace this model. This...
  • 3 reasons not to freak out about -2.9% GDP

    06/25/2014 6:10:34 AM PDT · by Oldeconomybuyer · 29 replies
    CNN Money ^ | June 25, 2014 | By Annalyn Kurtz
    The U.S. economy shrank in the first quarter of the year, and new revisions by the Bureau of Economic Analysis show the decline was even deeper than reported. Gross domestic product contracted at a 2.9% annual. That's the weakest quarter for the U.S. economy since the first quarter of 2009, amid the Great Recession. But economists aren't too worried, for three key reasons. 1) They blame the weather. 2) It's not a final number. 3) Last, but certainly not least, other data show the economy is improving.
  • Inflation? Only If You Look At Food, Water, Gas, Electricity And Everything Else

    06/20/2014 8:49:31 PM PDT · by george76 · 72 replies
    Zero Hedge ^ | 06/20/2014 | Tyler Durden
    Have you noticed that prices are going up rapidly? If so, you are certainly not alone. But Federal Reserve chair Janet Yellen, the Obama administration and the mainstream media would have us believe that inflation is completely under control and exactly where it should be. Perhaps if the highly manipulated numbers that they quote us were real, everything would be fine. But of course the way that the inflation rate is calculated has been changed more than 20 times since the 1970s, and at this point it bears so little relation to reality that it is essentially meaningless. Anyone that...
  • Price of Electricity Hit Record for May

    06/17/2014 12:04:32 PM PDT · by george76 · 8 replies
    CNSNews ^ | June 17, 2014 | Terence P. Jeffrey
    The electricity price index and the average price for a kilowatthour (KWH) of electricity both hit records for May, according to data released today by the Bureau of Labor Statistics. The average price for a KWH hit 13.6 cents during the month, up about 3.8 percent from 13.1 cents in May 2013. The seasonally adjusted electricity price index rose from 201.431 in May 2013 to 208.655 in May 2014—an increase of about 3.6 percent. ... Per capita production of electricity in the United States peaked in 2007. Since then it has generally been on downward trend. In 2013, the U.S....
  • Price Index for Meats, Poultry, Fish & Eggs Rockets to All-Time High [Obamanomics!]

    06/17/2014 11:25:48 AM PDT · by SoFloFreeper · 14 replies
    cns news ^ | 6/17/14 | Ali Meyer
    The seasonally-adjusted price index for meats, poultry, fish, and eggs hit an all-time high in May, according to data from the Bureau of Labor Statistics (BLS). In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1. As of last May, it was 234.572. By this January, it hit 240.006. By April, it hit 249.362. And, in May, it climbed to a record 252.832.
  • How to live with your parents

    06/17/2014 8:29:46 AM PDT · by Lorianne · 24 replies
    Your Houston ^ | 16 June 2014 | Tom Purcell
    Hey, young adults, living at home with Mom and Dad isn’t the end of the world — if you follow the right advice. As it goes, reports the U.K.’s Daily Mail, nearly 30 percent of adults under age 35 are living at home with their parents. Why? Well, the economy continues to sputter along, producing few entry-level jobs that allow young college graduates to get their careers underway. And thanks to soaring tuition costs, there is the record amount of college-loan debt that young people are carrying. Nearly 37 million young Americans owe more than $1 trillion in student-loan debt...
  • Wage hike executive order moves forward, but workers want more

    06/12/2014 3:27:54 PM PDT · by Oldeconomybuyer · 6 replies
    MSNBC News ^ | June 12, 2014 | By Ned Resnikoff
    In Washington D.C., low-wage protesters aren’t settling for half-measures. On Thursday, Labor Secretary Thomas Perez unveiled a proposed rule to lift the wage floor to $10.10 per hour, potentially hiking the pay of up to 200,000 employees of federal contractors. Yet the step forward has not satisfied the workers’ organization Good Jobs Nation, which is now demanding the right to collectively bargain with their employers. “I’m grateful to the President for raising my wage to $10 an hour, but it’s not enough to care for my son,” says Rodelma Acosta, a McDonald’s worker at the Pentagon, in a statement from...
  • Gov't Sets Wage Increase for Many of Its Workers

    06/12/2014 12:56:23 PM PDT · by Oldeconomybuyer · 13 replies
    ABC News ^ | June 12, 2014 | By TOM RAUM
    Many federal workers and contractors who earn the minimum wage are getting a raise next year. Labor Secretary Thomas E. Perez has issued a rule to raise the minimum wage from $7.25 an hour to $10.10. The higher level applies to new federal construction and service contracts beginning Jan. 1. President Barack Obama had announced the raise earlier this year, but Perez moved to put it into effect. "No person who works a fulltime job should have to live in poverty," Perez said Thursday in a conference call with reporters. "All workers, not just those who work on federal contracts,...
  • Jobless claims data points to strong labor market

    06/05/2014 12:35:20 PM PDT · by Oldeconomybuyer · 4 replies
    Rooters ^ | June 5, 2014 | BY LUCIA MUTIKANI
    The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend continued to point to a firming labor market. While jobless claims have been choppy in recent weeks because of problems seasonally adjusting the data around moving holidays such as Easter and Passover, they have continued to suggest the jobs market was strengthening.
  • Medicaid Enrollment Surges By More Than 1 Million In April

    06/04/2014 2:51:28 PM PDT · by Oldeconomybuyer · 10 replies
    Kaiser Health News ^ | June 4, 2014 | By Phil Galewitz
    Medicaid enrollment surged by more than 1 million people in April, bringing the total growth in the state-federal health insurance program for the poor since September to about 6 million, the Obama administration said Wednesday. Overall, Medicaid enrollment in 47 states and the District of Columbia topped 65 million in April, compared to 59 million in September for those same states, according to the report from the Centers for Medicare & Medicaid Services. Connecticut, Maine and North Dakota did not report their Medicaid enrollments. “This is good news,” said Rachel Klein, director of organizational strategy & enrollment at Families USA,...
  • This Democratic Senate candidate just hit Obama hard in an ad

    06/04/2014 2:23:16 PM PDT · by Oldeconomybuyer · 28 replies
    The Washington Examiner ^ | June 4, 2014 | BY REBECCA BERG
    With the EPA's proposed new power plant rules posing a potential threat to Democrats running in coal-reliant states, Alison Lundergan Grimes is fighting back early -- and fiercely -- by attacking the president and the EPA in a new radio ad, unveiled Wednesday. In the ad, which will air mainly throughout Kentucky's coal counties in the east and west of the state, Grimes takes President Obama to task for the new regulations on carbon emissions, which would be phased in over the next 15 years. "Mr. President, Kentucky has lost one-third of our coal jobs in just the last three...
  • Economy on solid ground despite cooler hiring

    06/04/2014 2:16:32 PM PDT · by Oldeconomybuyer · 16 replies
    Rooters ^ | June 4, 2014 | BY LUCIA MUTIKANI
    U.S. companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year. While other data on Wednesday suggested a widening trade gap could weigh on growth in the second quarter, a jump in imports pointed to a welcome pick-up in domestic demand.
  • Private sector adds fewest jobs in four months

    06/04/2014 6:07:19 AM PDT · by Oldeconomybuyer · 2 replies
    Market Watch ^ | June 4, 2014 | By Ruth Mantell
    Private-sector hiring in May hit the slowest pace in four months as service providers decreased their rate of hiring, according to data released Wednesday morning. Employers in the private sector added 179,000 jobs in May — the fewest new positions since January — down from 215,000 in April, Automatic Data Processing Inc. reported. Economists polled by Dow Jones Newswires had expected a May gain of 210,000 private-sector jobs, compared with an originally estimated increase of 220,000 jobs in April.
  • U.S. productivity falls 3.2% in brutally cold first quarter

    06/04/2014 6:03:31 AM PDT · by Oldeconomybuyer · 36 replies
    Market Watch ^ | June 4, 2014 | By Jeffry Bartash
    U.S. productivity in the first quarter declined by an even sharper 3.2% annual rate - the worst in six years - as workers spent more time on the job producing fewer goods during an unusually stormy weather, newly revised data show. Companies across the U.S. suffered severe disruptions in the first quarter because of one of the most brutal winters in decades, so the loss in productivity is likely to be mostly if not entirely reversed in the second quarter.
  • The War on Coal? Wyoming's future is at stake in the debate on coal

    05/31/2014 6:33:13 PM PDT · by Oldeconomybuyer · 27 replies
    Wyoming Star-Tribune ^ | May 31, 2014 | By BENJAMIN STORROW
    There is little doubt among the students in Brandon Cone’s engineering class at Campbell County High School that a war is being waged against coal. The children of the mechanics who fix the mines’ great diesel trucks, the welders who staff their machine shops and the railroad employees who see the final product shipped across the country and beyond have obvious pride in the local industry. “We power a lot of the country just from Gillette,” said Corey Silver, a junior whose father works at the Cordero Rojo mine, a comment widely echoed by his peers. The students’ pride in...
  • 'Toledo Blade' Closes Printing Facility, Axes 130 Union Jobs

    05/31/2014 5:46:37 PM PDT · by george76 · 29 replies
    Breitbart ^ | 31 May 2014 | John Nolte
    Starting August 1, the left-wing Ohio newspaper, The Toledo Blade, intends to lay off about 130 of its unionized employees due to a permanent shutdown of its Toledo production center that handles printing and inserting. ... In 2013, The Blade lost $8.5 million and has been losing millions for years. As of now there are no plans that will affect the advertising and news-gathering departments. In 2012, The Toledo Blade urged it readers to re-elect President Obama, arguing in part that "He has dealt effectively with economic recession at home