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Posts Tagged ‘Unemployment’

Unemployment The Number 1 Problem For Americans, Gallup Poll Says

Posted by Ram Kumar Shrestha on February 19, 2014

 by  Braden Goyette

"Boot Camp" Job Fair Held For Unemployed Coloradans

Unemployment has retaken its place in Americans’ minds as the country’s biggest problem, according to a new Gallup poll published Monday.

23 percent now consider unemployment the greatest challenge facing the nation, while only 16 percent said the same in January.

More people named joblessness as the nation’s top problem than “government and politicians,” which had been the most popular answer among survey respondents since the government shutdown last year. Read the rest of this entry »

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Economic Shock Could Throw 900 Million People Into Poverty, IMF Study Warns

Posted by Ram Kumar Shrestha on April 6, 2013


Hundreds of millions of people worldwide are on the brink of poverty.



A recent study by the International Monetary Fund warns that as many as 900 million people could fall back into poverty in the event of an economic shock like the Great Recession. That figure is three times the size of the U.S. population. Read the rest of this entry »

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Nine Reasons Why This Economy Feels So Bad

Posted by Ram Kumar Shrestha on August 8, 2012

The recent slump has been unusually painful, and the feeble recovery has been disappointing. But today’s economy seems even worse than it actually is.
Man holding empty wallet


Recent U.S. economic troubles are often referred to as the Great Recession, implicitly equating them with conditions during the Great Depression. Yet by many measures the economic deterioration of the past few years is not as serious as in some earlier downturns. The drop in GDP from peak to trough for the 2007-09 recession was indeed severe, 4.7% compared with 3.2% for the 1973-75 recession. Still, it doesn’t begin to compare with the 26% decline of the early 1930s, the 18% of the 1937-38 recession or even the 12% of the often-overlooked 1945 slump. And peak unemployment was higher not only during the Great Depression, but also during the recession of the early 1980s.

Moreover, if you look beyond the national averages, several past recessions have been more destructive in certain specific regions. Rust Belt manufacturing was badly battered in the 1970s – indeed, Detroit and the U.S. auto industry have never fully recovered. And the Oil & Gas business, especially in Texas, needed a long time to bounce back from the 1980s. All things considered, the recent recession may have been worse than average, but it was hardly unprecedented – and nowhere near comparable to what happened in the 1930s. So why do today’s economic troubles seem even worse than they are? Here are nine reasons:

The recovery has been hugely disappointing. Compared with today’s feeble gains, the rebounds that followed the deep recessions of 1973-75 and the early 1980s were robust. Within 18 months, real GDP growth touched 9% and remained well above average for several years. By contrast, the current recovery has failed to get much beyond 4% at best and has averaged less than  2.25% over the three years since the official end of the recession. Read the rest of this entry »

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U.S. Economy Slowed to a Tepid 1.5% Rate of Growth

Posted by Ram Kumar Shrestha on July 28, 2012


The United States economy grew by a tepid 1.5 percent annual rate in the second quarter, losing the momentum it had appeared to be gaining earlier this year, the government reported on Friday.

Growth was curbed as consumers limited new spending and business investment slowed in the face of a global slowdown and a stronger dollar. Several bright spots in the first quarter, including auto production, computer sales and large purchases like appliances and televisions, dimmed or faded away altogether in the second quarter. Growth was not strong enough to drive down the unemployment rate, which has stalled above 8 percent in recent months.

The sluggishness of the recovery makes the United States more vulnerable to trouble in Europe and, at home, the coming expiration of several tax breaks and other buoyant measures known as the fiscal cliff. It also illustrates the election-season challenge to President Obama, who must sell his economic record to voters as the recovery slows. Read the rest of this entry »

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Youth Unemployment: One In Eight Global Youths Will Be Unemployed This Year, Report Says

Posted by Ram Kumar Shrestha on May 24, 2012

Comment: What to do? World leaders have no money to sort out these problems whereas they could have enough money for war:

Around the world, a generation is coming of age and finding nowhere to work.

Globally, one in eight young people will be unemployed this year, according to a recent report by the International Labour Organization. That adds up to 75 million jobless youths between the ages of 15 and 24: Six percent more than in 2007. The global youth unemployment rate this year will be 12.7 percent.

Youth unemployment is worst in the Middle East and North Africa, where one in four youths are unemployed, according to the report. Young people have the best chance of finding a job in South Asia, where one in 12 youths are unemployed.

But the recession hit young people in rich countries the hardest, according the report. The number of unemployed youths in wealthy countries spiked 27 percent between 2008 and 2011. Read the rest of this entry »

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Recession Is Having a Devastating Impact on Our Young People

Posted by Ram Kumar Shrestha on April 27, 2012

By Ginny Lunn, Director of policy and strategy at youth charity The Prince’s Trust

The recession is already damaging the hopes of thousands of young people who are struggling to find a job.

Now young people in schools could be next in line.

Today, we are releasing new research showing that seven out of 10 secondary school teachers (70%) are increasingly worried their pupils will end up on benefits, while more than one in three (37%) feel their efforts are in vain, due to high levels of unemployment.

As a former teacher myself, I know that they do all they can to support students. It is now more important than ever for government, charities and employers to work closely with teachers to support young people who may be struggling.

Young people can fall out of the education system for many reasons – and all too often they end up feeling that they can never achieve anything.

There are thousands of young people that fall into this vicious cycle, feeling like they have ‘failed’ in school and leaving with few qualifications and little confidence to help them find a job in the future. This can breed low self-esteem, feelings of worthlessness and sometimes even depression. Read the rest of this entry »

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Unemployment Figures: 118,000 More People Out Of Work As Jobless Rate Hits 17 Year High

Posted by Ram Kumar Shrestha on January 18, 2012

Unemployment reached a 17-year high today after a 118,000 increase in the jobless total, which saw a record number of young people out of work.

The figure jumped to 2.68 million in the three months to November, the worst since the summer of 1994, giving the UK a jobless rate of 8.4%.

The figures were worst in the North East (12%) and Yorkshire (10.1%), whereas the unemployment rate fell in the South West, Northern Ireland, London and Wales.

The number of unemployed 16 to 24-year-olds increased by 52,000 over the quarter to 1.04m, the highest since records began in 1992.

And the number of people claiming jobseeker’s allowance in December increased by 1,200 to 1.6m, the highest for a year after the 10th consecutive monthly rise.

Other figures showed that almost a million working days were lost in November as a result of the public sector pensions strike, the highest figure since 1989.

The Office for National Statistics reported that the number of people in full-time employment fell by 57,000 in the latest three months, but there was a 75,000 increase in part-time workers.

There was a 44,000 rise in the number of people working part-time or for themselves because they could not find a full-time job, taking the total to 1.3m, the highest since comparable records began in 1992. Read the rest of this entry »

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The Real China Threat

Posted by Ram Kumar Shrestha on December 5, 2011

China continues to snatch up precious natural resources while they’re still available. Will the U.S. step up before it’s too late?


Bundles of copper rods

Ordinary Americans and policymakers in Washington have plenty to worry about these days: unemployment, housing, deficits and debt, not to mention terrorism, wars and myriad foreign crises.

But there’s another looming issue that actually trumps those. It’s China’s push — while the U.S. sits on the sidelines — to amass the lion’s share of natural resources such as copper, silver and rare-earth elements, which are essential to renewable energies and are becoming scarcer and more expensive.

(VIDEO: America Wants in on China’s Clean-Energy Business)

Prices of these and many other key industrial materials have been in steady uptrends for a decade as supplies have tightened. They’ve remained high even despite the dreadful U.S. economy. Emerging economies, particularly China — which has become a voracious consumer of industrial materials — are behind the stunning growth in demand. One statistic: in 2011, Brent oil, the chief marker for oil, has been above $100 a barrel a record number of days; its average price for the year is likely to be an all-time high. And with China’s growth continuing, there’s no end in sight.

High and rising resource prices largely account for the decline in the American standard of living over the past decade. China, because it’s growing so rapidly, can simply absorb high and rising commodity prices as part of the cost of doing business. But the mature U.S. economy can’t. Those same price hikes impose an implicit tax on every American, hitting us in the wallet at all turns and choking the economy — while simultaneously constituting an inflationary force.

The only genuine path to sustainable economic growth in the U.S. is to make a full-scale transition to an economy based on renewable energies. This would be a huge effort requiring trillions of dollars. But we need to launch it now — we can’t put it off until later. Building a sufficiently large renewable-energy infrastructure requires huge inputs of natural resources, and they won’t always be there for the taking. Read the rest of this entry »

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Autumn Statement: Public Sector Job Losses Will Spiral To 710,000 By 2017

Posted by Ram Kumar Shrestha on November 29, 2011

The number of public sector jobs expected to be lost because of spending cuts has nearly doubled from initial estimates, an economic forecaster warned, as George Osborne delivered a gloomy outlook for Britain’s economy.

Some 710,000 jobs are expected to go by 2017, a major leap from the 400,000 initially predicted, the Office for Budget Responsibility (OBR) said on Tuesday.

Robert Chote, the director of the OBR, said the latest figures were based on the government “deepening and extending” its programme of spending cuts for an extra year.

However the forecaster said it expected the public sector job losses to be offset by the creation of 1.7 million private sector jobs by 2017.

The chancellor was forced to acknowledge that he would miss his target of eliminating the UK’s structural deficit by the end of this parliament in 2015.

And there was more bad news for Osborne, as the OBR revised its growth prediction down to 0.9% for this year and 0.7% next year.

Speaking in the Commons, Osborne also said he plans to cap public sector pay rises at 1% when a current wage freeze ends.

Many areas of the public sector had been expecting to be able to grant 2% pay rises once the current two year pay freeze expired in 2013.

“In the current circumstances the country cannot afford the 2% rise assumed by some government departments thereafter. So, instead, we will set public sector pay awards at an average 1% for each of the two years after the pay freeze ends,” Osborne said.

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Youth Unemployment Reaches Record Levels Raising Fears Of ‘Scarred Generation’

Posted by Ram Kumar Shrestha on October 12, 2011

All the data very dreadful, however, the government does not seem scared of the reality. Without sorting out the problem it is very clear where the is country going. Neither the government serious nor the problem easy to sort out. So black cloud ahead.
Read the Article at HuffingtonPost

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White House Outlines $467 Billion In Savings To Pay For Jobs Act

Posted by Ram Kumar Shrestha on September 13, 2011

As Americans are facing job problem now it could be better to set immediate package as well parallel with this long term package.
Read the Article at HuffingtonPost

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Unemployment Figures: It’s Going To Get Worse, Economists Say

Posted by Ram Kumar Shrestha on August 17, 2011

Unemployme­nt hits almost 2.5 million.
Read the Article at HuffingtonPost

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American Millionaires: 1,400 Paid No U.S. Income Taxes In 2009

Posted by Ram Kumar Shrestha on August 5, 2011

They are becoming rich because of not paying tax?
Read the Article at HuffingtonPost

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Paul Krugman: ‘Strong Chance’ U.S. Economy Will Worsen

Posted by Ram Kumar Shrestha on June 3, 2011

Not surprised, because America is investing billions and billions dollars every year in Afghanista­n, Libya, and so on for unproducti­ve activities rather than to create jobs for jobless in own country. And due to that it has to consider billions and billions dollars for security purpose
Read the Article at HuffingtonPost

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10 Countries With The Worst Income Inequality: OECD

Posted by Ram Kumar Shrestha on May 24, 2011

No idea how to trust this.
Read the Article at HuffingtonPost

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