- Only 11% of the long-term unemployed find work again a year later, By Ricardo Lopez, March 20, 2014, Los Angeles Times: “In a sobering new study, three Princeton economists found that only 11% of the long-term unemployed in any given month found full-time work a year later. The paper, presented Thursday at a Brookings Panel on Economic Activity, offered a comprehensive look at the profile of the long-term unemployed. The lead economist behind the study is Alan B. Krueger, the former chairman of President Obama’s Council of Economic Advisors. The economists tested the hypothesis of whether a low supply of jobs or discrimination by employers contributed to long-term unemployment. The answer? Probably both…”
- Jobs scarce for U.S. long-term unemployed, By Josh Boak (AP), March 21, 2014, The Tennessean: “A new study documents the bleak plight of Americans who have been unemployed for more than six months: Just 11 percent of them, on average, will ever regain steady full-time work. The findings by three Princeton University economists show the extent to which the long-term unemployed have been shunted to the sidelines of the U.S. economy since the Great Recession. The long-term jobless number 3.8 million, or 37 percent of all unemployed Americans…”
- States have provided jobless benefits retroactively before — so why can’t they now?, By Stephen Koff, March 20, 2014, Cleveland Plain Dealer: “The folks who administer unemployment compensation say that the start-stop-start nature of the latest jobless-benefits proposal in Washington would be unworkable in the states. That’s because, they say, it is the states, not the federal government, that must administer the benefits and deal with all the hassles, regardless of whether the benefits are paid for by the feds…”
Day: March 21, 2014
Social Impact Bonds
Results-based financing for preschool catching on, By Adrienne Lu, March 21, 2014, Stateline: “Six hundred 3- and 4-year-olds are attending preschool in Salt Lake County and Park City, Utah, this year thanks to an innovative financing model that is catching the attention of government officials and lawmakers across the country. Under ‘results-based financing,’ also known as ‘pay-for-success’ or ‘social impact bonds,’ private investors or philanthropists provide the initial funding for social programs that are expected to save taxpayer dollars down the road. If the policy goals are met and the savings materialize (according to third-party evaluators), the investors receive their money back with interest. However, the government doesn’t have to pay out more than it saves…”
Medicaid Expansion – Michigan
Medicaid enrollment to open April 1 despite early roadblocks, By Robin Erb, March 20, 2014, Detroit Free Press: “Michigan’s long-awaited new Medicaid program — one that may extend health care coverage to 470,000 people — will open as planned at 12:01 a.m. April 1, despite bureaucratic and technical frustrations that had left thousands wondering whether the promise of the 2010 Affordable Care Act had left them behind. Expecting a heavy first burst of applications, offices for the Michigan Department of Human Services will extend hours during the first days and phone lines will open from 8 a.m. to midnight to accept applications to the program, called Healthy Michigan…”