Eurozone’s record unemployment of 11.3 percent in July shows tough task ahead for leaders, Associated Press, August 31, 2012, Washington Post: “The unemployment rate across the 17 countries that use the euro remained at a record high of 11.3 percent in July, official figures showed Friday, underscoring the huge task leaders face to restore confidence in the continent’s economy. The European Union’s statistical agency, Eurostat, said 88,000 more people were without a job in July – for a total of 18 million – as governments and companies continued to trim payrolls to deal with problems of high debt and weak consumer spending…”
Tag: Job losses
Jobs Recovery Favors Single, Younger Workers
Why the jobs recovery favors single workers, By Annalyn Censky, August 15, 2012, CNN Money: “As the economy slowly recovers, single people are finding jobs much faster than their married peers. Single men and women lost about 5 million jobs during the financial crisis, and have since gained back 90% of them, according to the Labor Department. That’s not too shabby, especially considering the jobs recovery has been so slow. But married people, who make up a slightly larger part of the adult population, lost even more jobs and have gained far fewer back. Of the 6 million jobs they lost, they’ve recouped only about 22%. Could employers be favoring single workers? That’s unlikely, economists say. The real story probably lies in other demographic factors. . .”
Poverty in the US
- U.S. poverty heads toward highest level in 50 years, By Hope Yen, July 23, 2012, Chicago Tribune: “The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net. Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections. The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest level since 1965…”
- Connecticut’s ribbon of hardship, By Esmé E. Deprez, July 5, 2012, Businessweek: “Jodey Lazarus’s brown eyes follow the red grapes down checkout lane 11’s conveyor belt, then focus on the cash register to verify she’s getting the 99¢-a-pound price promised in the weekly ShopRite circular. The bill is just short of $70. Lazarus, 29, takes a breath, drops her gaze and extends her silver state benefits card. The card machine fails to read the damaged magnetic strip. The cashier squints at the numbers. ‘It doesn’t swipe?’ ‘No. It doesn’t swipe,’ Lazarus murmurs. The cashier types the card code, and Lazarus signs for the groceries. This is the second time today she’s gone through this routine with a store clerk; the morning found her at La Marqueta, where onions were cheaper and the payment process just as awkward. As she pulls out of the parking lot, her 14-year-old Dodge Caravan shrieks. Just a belt or something worse? She’s not sure. It’s too expensive to repair right now anyway…”