- Jobs report is strongest since the start of the recession, By Louis Uchitelle and Javier C. Hernandez, December 4, 2009, New York Times: “In the strongest jobs report since the recession began two years ago, the nation’s employers all but stopped shedding jobs in November, the government reported on Friday, and they appeared to be on the verge of finally rebuilding the work force. The sudden and unexpected improvement surprised even the most optimistic forecasters. Instead of yet another six-figure job loss, only 11,000 jobs disappeared last month and instead of another rise in the unemployment rate, it went down, to 10 percent from 10.2 percent in October…”
- Unexpected drop in jobless rate sparks optimism, By Christopher S. Rugaber (AP), December 4, 2009, Houston Chronicle: “A surprising drop in the unemployment rate and far fewer job losses last month raised hopes Friday for a sustained economic recovery. The rate unexpectedly fell to 10 percent, from 10.2 percent in October, as employers cut the fewest number of jobs since the recession began. The government also said 159,000 fewer jobs were lost in September and October than first reported. If part-time workers who want full time jobs and laid-off workers who have given up looking for jobs are included, the so-called underemployment rate also fell, to 17.2 percent from 17.5 percent in October…”
- Repaid bailout money may go to jobless benefits, By Jackie Calmes, December 2, 2009, New York Times: “Under pressure from Democrats in Congress, the Obama administration has begun talks with lawmakers about tapping unspent money from the government’s financial bailout program to help offset additional spending to create jobs and aid the long-term unemployed. The discussions reflect the Democrats’ effort to balance concerns for the high federal budget deficit and a costly, crowded domestic agenda, including an effort for further economic stimulus measures that is likely to exceed $100 billion. On Thursday, House leaders may decide the outlines of a jobs bill to pass this month, even as President Obama holds a White House jobs summit seeking long-range ideas. Now that the financial industry has stabilized, and some bailed-out companies have repaid the government with interest, the $700 billion bailout fund created in October 2008 is left with a balance exceeding $200 billion, according to the Treasury…”
Poverty-related issues in the news, from the Institute for Research on Poverty