Posted on 01/31/2015 3:50:52 PM PST by blam
The Economist
January 31, 2015
America's labour market boomed in 2014. By December there were 3m more people in work than a year earlier. Unemployment was 1.1 percentage points lower. The ratio of jobseekers to openings fell from a peak of seven to one in 2009 to two to one in November 2014. What was behind this? The answer in a new study will not please Democrats.
The job market is hot largely because of a cold-hearted Republican reform, it concludes. Before the financial crisis, jobless workers in most states qualified only for 26 weeks of unemployment benefits. In June 2008 that was extended, thanks to a new federal Emergency Unemployment Compensation (EUC) programme. By the end of 2013 the average unemployed American could expect benefits to last 53 weeks; in three states they could get 73 weeks' worth.
The study looks at what happened after Congress refused to reauthorise EUC in December 2013. The average limit on benefits plunged to 25 weeks, cutting off roughly 1.3m Americans immediately. Republicans argued that this would push people back into work.
Several economists disagreed. Michael Feroli of J.P. Morgan predicted that many jobless Americans, no longer required to seek work as a condition of receiving benefits, would drop out of the labour force entirely. Researchers at the Economic Policy Institute, a leftish think-tank, said the cuts would destroy 310,000 jobs by dampening demand.
(snip)
(Excerpt) Read more at businessinsider.com ...
BI seems to be a commie lying rag akin to The Economist.
I call Bolshevik on these numbers and stats and would be very interested to know of these increased jobs, how many are part time jobs that are multiples held by the same person trying to make up income lost when their original jobs hours were cut so the employer could avoid paying for insurance.
Hot?
Based on rush hour traffic where I live, there are a whole lot more people working now than 2 years ago.
Yeah, no kidding. The propaganda comes from multiple sources these days.
I was referring to legal jobs, held by Legal residents. yeah there are a WHOLE, lot more people on the road in California thanks to Lord Foul, moonbeam and our socialist representation.
” There is still plenty of evidence that making unemployment benefits too stingy is a bad idea, especially when an economy hits the skids. If people feel forced to take the first job that comes their way, they are unlikely to pick the one in which they are most productive.”
What an idiotic comment! So doing nothing is more productive than doing something?
The answer is...THEY COOKED THE BOOKS, STUPID!!
I finally landed a job at half pay.
The market is tepid at best.
I had my fun for a few years back. Literally counting pennies. I took a contract job at a factory that turned into a good paying job that I have been able to somehow hold.
I am grateful and very, very thankful to the man upstairs.
Remember, those of you remaining so far in the quietly dwindling middle class. Austerity measures are slickly done here, in the States. When you are unexpectedly dropped from the shrinking economy as a surprised individual, recovery will continue to be in full swing according to the sponsored media. The door will permanently close behind you. The enormous numbers of government-supported jobs lost over the next few years won’t be coming back, either.
Saying my prayers.
Blessings on you.
Likewise to you Bubblehead.
Signed,
Target (lol)
“Researchers at the Economic Policy Institute, a leftish think-tank, said the cuts would destroy 310,000 jobs by dampening demand.”
The Economic Policy Institute may well be left-wing, but I suspect that these economists actually do care about their reputations - but I guess they don’t. I guess it was more important to score points against those damn Republicans...and look like TOTALLY IDIOTS. The idea that paying people not to work would somehow CREATE JOBS is simply insane.
I truly appreciate that.
It has been 1 week and the competition is fierce.
And yet... they reported that Republican reforms to endless unemployment benefits worked.
Working at Burger King for 20 hrs. per week without benefits is “employed”? And that is what many people have had to take. So don’t celebrate. I don’t call this job market a “success”. Bob
Most slackers have figured out the way to run out their temporary unemployment and to get onto the more permanent and higher paying disability. The most common way being to pig out on the EBT and get morbidly obese.
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