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Jobless claims near lowest level of the year

davidguide — Fri, 10 Dec 2010 07:28:45 +0000

Washington – Applications for unemployment benefits dropped last week to the second-lowest level this year, fresh evidence that companies are cutting fewer jobs. First-time claims for jobless aid fell by 17,000 to a seasonally-adjusted 421,000 in the week ending Dec. 4, the Labor Department said Thursday.

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Tax Cuts: President Wins Republicans While Democrats Play Politics

davidguide — Wed, 08 Dec 2010 03:55:34 +0000

Tejinder Singh – AHN News Correspondent

Washington, D.C., United States (AHN) – President Barack Obama on Tuesday called fellow Democrats to quit playing games with ordinary Americans’ lives noting that his top priority is ” to do what’s right for the American people, for jobs, and for economic growth.”

Addressing journalists at a press conference in the White House, the President said that he was “focussed on making sure that tens of millions of hardworking Americans are not seeing their paychecks shrink on January 1st just because the folks here in Washington are busy trying to score political points.”

There was a loud murmur from left-leaning Democrats as the President announced his compromise plan with Republicans to create jobs and boost consumer spending along with extending all the tax cuts that are set to expire on Dec. 31.

Democrats were angry with Obama’s nod to continuation of the controversial Bush-era tax cuts announced nearly a decade ago for the wealthiest households, adding billions in staggering addition to the deficit over the next two years.

Vice President Biden, one of the architects of the compromise, did not have much success at the Capitol but he is expected to return on Wednesday to pursue further with Democrats.

There were, however, whispers of approval also in legislative corridors of power as one of the Democrat insider reluctant to be quoted, noted major tax-breaks to boost capital injections, unemployment benefits to continue for 13 months and savings for working couples with tax-breaks.

Obama told journalists at the hurriedly called press conference, “Two million Americans who lost their jobs and are looking for work will be able to pay their rent and put food on their table.”

With an eye on his sulking Democrats, Obama, “I understand the desire for a fight. I’m sympathetic to that. I’m as opposed to the high-end tax cuts today as I’ve been for years,” he said. “But in the meantime, I’m not here to play games with the American people or the health of our economy.”

John D. Podesta, Chief Executive Officer of the Center for American Progress said in a statement, “I think the President was right to choose helping working Americans over a December conflagration,” noting, “President Obama decided he couldn’t abandon the millions of Americans who are struggling to keep their families afloat, who are diligently searching for work, and who simply cannot afford higher taxes right now.”

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Vice President Biden’s Remarks on Tax Cuts & Unemployment

davidguide — Fri, 03 Dec 2010 21:25:08 +0000

Vice President Biden met with Treasury Secretary Geithner and White House Budget Director Jack Lew on the status of negotiations with congressional leaders on extending the Bush-Era tax cuts. Before the meeting, he commented on the monthly jobs report that says unemployment increased in November from 9.6 to 9.8 percent, calling it another reason why Congress should extend unemployment benefits. Length: 6 min. Published: Today at 2pm (ET)

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U.S. Unemployment Compensation Claims Rise Again

davidguide — Thu, 02 Dec 2010 21:04:29 +0000

Linda Young – AHN News Writer

Washington, DC, United States (AHN) – Initial jobless claims rose again last week after falling to the lowest levels in two years the week before, according to the United States Department of Labor.

The advance figures for seasonally adjusted initial claims for the week ending Nov. 27 was 436,000, an increase of 26,000 from the previous week’s revised figure of 410,000. Most analysts were only expecting 422,000 new claims.

Most economists say that initial jobless claims must fall below 40,000 weekly before the current 9.6 percent unemployment rate will fall much.

Although nearly 40 percent of working-age Americans are unemployed, only 3.4 percent of jobless workers qualify for unemployment compensation benefits, according to the DOL.

Nationwide, 8,909,882 people claimed jobless benefits for the week ending Nov. 13, the latest week for which those figures are available.

States with the highest insured unemployment rates for the week ending Nov. 13 were Alaska (6.3 percent), Oregon (4.6), Pennsylvania (4.2), California (4.1), New Jersey (4.0), Nevada (3.9), Arkansas (3.6), Connecticut (3.6), Illinois (3.6), and Montana (3.6).

Extended unemployment benefits were available in the District of Columbia and 35 states.

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Good news on jobless claims, retail sales, homes

davidguide — Thu, 02 Dec 2010 17:26:26 +0000

WASHINGTON (AP) – More Americans applied for unemployment benefits last week, but the broader trend in layoffs points to a slowly healing job market. The average over the past month fell to a two-year low.

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Answers to questions about unemployment benefits

davidguide — Thu, 02 Dec 2010 03:26:30 +0000

About 2 million Americans could lose unemployment benefits this month. Here are answers to common questions.

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21,000 unemployed Kentuckians expected to lose benefits this week

davidguide — Tue, 30 Nov 2010 23:28:17 +0000

With Christmas less than a month away, more than 21,000 Kentuckians are expected to lose their unemployment benefits this week after Congress did not act Tuesday to extend emergency benefits, according to state officials. Within the next eight weeks, the number of Kentuckians affected by the benefit cut will surpass 75,000, said Lanny Brannock, spokesman for the state Office of Employment and Training. Frustration and some despair flooded the Jobs Center Tuesday where Lexington’s unemployed go to register for benefits and look for work. Quietly waiting among the many there, Latoya Collins, 27, said maybe Congress doesn’t notice the working man. “Look, they got jobs,” Collins said. She’ll be talking to her family about moving in with them and looking for a job without money, which is harder than it sounds, she said. She hasn’t been without a job since she was 15, she said

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RI officials recommend resources for jobless

davidguide — Tue, 23 Nov 2010 09:25:47 +0000

Thousands of Rhode Islanders are in danger of losing their unemployment benefits.

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Unemployment benefits drain state’s coffers

davidguide — Thu, 18 Nov 2010 03:25:27 +0000

By December, the state will be paying out over a million dollars a day in unemployment benefits.

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Beebe hopes for compromise on unemployment debt

davidguide — Tue, 16 Nov 2010 23:26:13 +0000

Gov. Mike Beebe says he’s hopeful business and labor leaders can come up with a proposal to repay more than $330 million Arkansas owes the federal government for unemployment benefits before next year’s legislative session.

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