Federal
1 in 10 Americans Unemployed
Published November 06, 2009 @ 06:48AM PT
10% unemployment is here. The worst unemployment rate since 1983; for those of you who weren't in elementary school then - how does this recession match up in your mind to that one? Given the rising cost of living compared to the declining value of wages over the last two decades, how are households getting by in this bleak reality relative to 26 years ago? Will Obama and Congress get us out of this mess?
More than 7M Americans have lost their jobs in the last two years, and remember, official unemployment rates only count people actively looking for work. The # of people out of the workforce through no fault of their own is likely much higher - they've given up looking for work at this point.
Should we rejoice that layoffs are happening more slowly? Education and health services are actually adding jobs, and government employment is stable - stimulus funds are likely contributing to this. But even government programs can't prop up the construction industry, as our anemic real estate markets cancel out the need for construction work.
10% Unemployment Looming
Published November 05, 2009 @ 12:00PM PT
New unemployment #s come out tomorrow - economists predict 9.9% unemployment nationwide. Can I just round that up to 10% and call it a day?
First time jobless claims were less than expected in October, though only 20k fewer of over half a million. We are supposed to take this as good news that "job cuts are easing as the economy slowly heals." This is the lowest level since January. Still...2009 is almost over and we're still seeing half a million people per month file for unemployment for the first time? That is one horribly contracting economy.
Surviving workers are laboring more feverishly than ever - productivity is up even as our incomes are "squeezed". The stimulus is keeping a lot of jobs afloat; unemployment benefits are practically extended into perpetuity at this point. No wonder discount retailers are doing slightly better than specialty stores; it's amazing we've got anything left to leave behind at the mall!
Stimulus Bypasses Minority Businesses
Published November 03, 2009 @ 09:00AM PT
Criticism abounds of the unequal distribution of stimulus funds: high per capita allocations to low population, low unemployment states like Wyoming versus low per capita amounts to struggling states like CA; and the limited allocations reaching women- and minority-owned businesses compared to their proportion of the population.
The Kirwan Institute for the Study of Race & Ethnicity at The Ohio State University finds that "While approximately 14 percent of businesses are minority owned, the study shows that minority owned businesses received only 9.6 percent of federal contracts." Almost 3 in 10 businesses are owned by women, yet these firms received only 3% of stimulus funds. This disturbing inequity raises questions about the goals of the stimulus and the (surprising?) lack of focus on reducing economic inequality.
Your Recession in Charts
Published November 02, 2009 @ 01:52PM PT
Last week President Obama touted 640,000 jobs were created or saved via the stimulus. No doubt the stim, as we're apparently calling it now, has had some positive impact. (Though if it's behind the endless road improvements going on in the Greater Boston area that's driving me insane, pun intended, then I might have to rethink this whole public works investment concept!)
But eminent economist Joseph Stiglitz pronounces the recovery "nowhere near" over and the myriad charts our friends at Calculated Risk and the Wall Street Journal certainly suggest as much. WSJ has an interactive map of stimulus spending by state, including jobs saved and current unemployment rates. 15% unemployment in Michigan! It's almost 30% in Detroit.
Calculated Risk has the gruesome images, including the above graph demonstrating a national unemployment rate of 9.8% (as of September 30), the highest in 26 years.
Staying Warm This Winter
Published October 27, 2009 @ 11:13AM PT
In many regions across the country, the days are getting shorter and the colorful autumn leaves are slowly falling to the ground. This can only mean that the stinging cold of winter is just around the corner.
What this also means, particularly with unemployment rates still astonishingly high and the recession continuing, is that nonprofit organizations and government agencies are bracing for an increased demand for utility assistance over the next several months.
The main way that energy assistance funds are distributed in the U.S. is through the Low-income Home Energy Assistance Program (LIHEAP) administered by the Department of Health and Human Services. However, instead of providing assistance directly to the general public, the Department makes block grants to individual states who then distribute checks to needy households.
The Flawed U.S. Poverty Measure
Published October 24, 2009 @ 09:00AM PT
New data released recently by the Census Bureau highlights a gigantic problem many Americans are already painfully aware of: the way the U.S. government measures poverty is extremely flawed.
Because official poverty estimates do not take into account factors like rising medical care, transportation, child care or geographical variations in living costs, the Census Bureau publishes alternative data using a poverty measure developed by the National Academy of Sciences.
This new data shows that there are 7 million more Americans living in poverty than initially reported by the agency last month, and brings the total poverty rate in the U.S. to nearly 16 percent. What I found most shocking is that the original Census Bureau figures failed to capture half of all elderly living in poverty (official estimate was 9.7 percent, but the new figures show 18.7 percent of persons 65+ currently live in poverty).
Growing Poverty, Homelessness Like No Tomorrow
Published October 23, 2009 @ 05:06AM PT
Last week in Boston, HEAR US joined with the MA Campaign to End Child Homelessness to plead on behalf of homeless families about looming budget decisions that...
...can have a devastating and life-long impact on a child; further erosion of the safety net as a result of more budget cuts would cause even more harm to homeless children and their families in Massachusetts.
Devastating, life-long impact, more harm...those claims are beyond true. The MA recommendations are way more urgent than this document can convey.
