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The Jobs Report, and Why the Recovery Has Stalled by Robert B. Reich, robertreich.org | February 1, 2013
We are in the most anemic recovery in modern history, yet our political leaders in Washington aren’t doing squat about it. In fact, apart from the Fed – which continues to hold interest rates down in the quixotic hope that banks will begin lending again to average people – the government is heading in exactly the wrong direction: raising taxes on the middle class, and cutting spending. read more »New Poll: America's Workers Soundly Reject Social Security Benefit Cuts by Jackie Tortora, aflcio.org | February 1, 2013
The "chained" CPI is a Social Security benefit cut (not an innocuous "adjustment"), and the majority of voters understand this, with 55% opposing this policy proposal. A new poll, Strengthening Social Security: What Do Americans Want? from the National Academy of Social Insurance (NASI), highlights working people's opposition to benefit cuts, including the "chained" CPI, which reduces the cost-of-living adjustment (COLA). A large majority, 64%, thought the COLA should be increased to better protect seniors and other beneficiaries from inflation and rising prices of food, utilities and other necessities. read more »Good News On Jobs: Growth Was Steady To Start The Year, And 2012 Was Better Than First Thought by Neil Irwin, The Washington Post | February 1, 2013
The economy began the year with solid job creation, and the labor market was much stronger at the end of 2012 than previously thought, according to new data out Friday that indicated surprising momentum in the economy in the new year. Employers added 157,000 jobs in January, the Labor Department said, which was right in line with analyst expectations. The brightest news, though, was that revised estimates showed much higher job creation at the end of last year than first reported. The nation added a whopping 247,000 jobs in November and 196,000 in December, a combined 127,000 jobs above earlier estimates. read more »Jobs on Jobs on Jobs on Jobs by Jamelle Bouie, prospect.org | February 1, 2013
According to the latest report from the Bureau of Labor Statistics, the economy created 157,000 jobs in January, a solid number, though behind what we need to see a robust recovery. More important, as always, are the revisions. November’s job growth was revised to 247,000 (up from 161,000) and December’s was revised to 196,000 (up from 155,000). These are big revisions, and when analyzed as part of a trend, it’s clear that the government was been underestimating job growth for most of 2012, to the tune of 28,000 jobs a month. read more »At This Pace, The U.S. Won't Get Back To Full Employment Until 2022 by Brad Plumer, The Washington Post | February 1, 2013
The jobs numbers have been crunched and re-crunched, and it turns out that the U.S. economy added an average of 181,000 jobs per month in 2012. That’s a faster rate than in previous years. But it’s also relatively sluggish, given the deep, deep hole the economy is still in. If the United States keeps adding 181,000 jobs per month, then it will take nine years and three months to get back to full employment, according to the Hamilton Project’s jobs calculator. read more »Report: Nearly Half of Americans Have No Safety Net to Keep Them Out of Poverty by Lauren Kelley, alternet.org | January 31, 2013
A new report reveals a fact that too many Americans are familiar with first-hand: nearly half of the nation's residents have no safety net to protect them from falling into poverty in the event of a layoff or other financial misfortune. The recently published Assets & Opportunities Scorecard from the Corporation for Enterprise Development (CFED) shows that "[n]early 44 percent of Americans don't have enough savings or other liquid assets to stay out of poverty for more than three months if they lose their income," as NPR summarized. At the same time, nearly a third of Americans live with no savings account at all. read more »Immigration Catch-22 by Jaime Fuller, prospect.org | January 30, 2013
Monday, a bipartisan group of eight senators unveiled a comprehensive immigration-reform plan. Tuesday, Barack Obama gave a speech outlining a very similar plan, causing the four Republicans in that group to disavow their own plan as a socialist plot whose only plausible purpose is to bring a tsunami of radical Kenyan immigrants to our shores so they can marry our women and produce future presidents who will further weaken this great nation. OK, so that's not really what happened. But given recent experience, it wouldn't have been all that surprising if it had. Now that Barack Obama has joined the immigration debate with his own plan (like the bipartisan one, at this point it's not particularly detailed), it will take all the fortitude Republicans can muster to keep from doing a 180, just as they did on the individual health-insurance mandate and cap and trade, once those ideas were infected by contact with Obama. read more »Obama Pushes Ahead With Immigration Reform -- Here's the Good, Bad and the Ugly by Joshua Holland, alternet.org | January 30, 2013
On Tuesday, Barack Obama flew to Nevada, where one in five residents is foreign-born, to once again call for comprehensive immigration reform – a centrist approach to a nagging problem that's been demagogued by the conservative media as “amnesty” and blocked by nativists in Congress for almost a decade. Obama's speech offered some sharp elbows for Congress's nativist wing, and some hope for those in his very supportive audience. But Obama's optimism belied two potentially serious problems for the 11 million undocumented immigrants currently residing in this country: one political and one inherent in the nuts and bolts of policy. read more »GOP Prepares To Blame Obama For Immigration Deal Collapse by Alex Pareene, salon.com | January 30, 2013
Conservatives have convinced themselves that Barack Obama intentionally blew up the possibility of an immigration reform bill in his first term, by forcing them to not support reform. (The theory doesn’t really make sense.) “I think he wants to destroy the Republican Party, particularly in the eyes of Hispanic American voters,” Bill O’Reilly told Marco Rubio. “So he’s going to make it as hard as possible to get anything done and demonize you guys.” The idea is that Barack Obama used his cunning and guile to trick the entire Republican Party into seeking and then relying on the white nativist vote for a generation. So Republicans are preparing the groundwork for the P.R. campaign to blame Obama for this deal’s collapse. read more »Can The Rising Progressive Tide Lift All Ships? by Katrina vanden Heuvel, The Washington Post | January 29, 2013
The growing progressive coalition that helped elect President Obama has emerged at the end of a failed and exhausted conservative era. The media now chronicle the flailings of Republican leaders slowly awakening to the weaknesses of a stale, pale and predominantly male party in today’s America. But the central challenge to this progressive coalition is not dispatching the old but rather defining what comes next. Will it be able to address the central challenge facing America at this time and reclaim the American Dream from an extreme and corrosive economic inequality? read more »
The Latest
Solar power project in Mojave Desert gets $1.4 billion boost from stimulus funds, The Washington Post | February 23, 2010
The Energy Department on Monday announced a "conditional" $1.4 billion loan guarantee for a solar thermal power complex in the Mojave Desert that would ultimately produce as much as 392 megawatts of electricity. read more »
Deal to Sell Hummer to China Company Nears Collapse , The New York Times | February 23, 2010
Hostility from Chinese regulators and bank financing problems have raised two potentially insurmountable obstacles to plans by an obscure Chinese machinery company to buy General Motors’s Hummer division, people close to the negotiations said on Tuesday. read more »
Millions of Unemployed Face Years Without Jobs , The New York Times | February 22, 2010
Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits. read more »
Uncertainty over proposals in Congress has firms holding off on investments., Los Angeles Times | February 22, 2010
At a time when the U.S. economy is desperate for jobs and investment in future growth, a slew of clean-energy projects are on hold largely because of political stalemate in Washington. read more »
Who Broke America’s Jobs Machine?, Washington Monthly | February 22, 2010
If any single number captures the state of the American economy over the last decade, it is zero. That was the net gain in jobs between 1999 and 2009—nada, nil, zip. By painful contrast, from the 1940s through the 1990s, recessions came and went, but no decade ended without at least a 20 percent increase in the number of jobs. read more »
Europeans Revitalize Plants to Save Jobs , The New York Times | February 5, 2010
$1.4 Billion Oregon Wind Deal Announced, greeninc.blogs.nytimes.com | December 10, 2009
Obama Job Creation Package DETAILS: See The President's Key Proposals, Huffington Post | December 10, 2009
Senators seek probe into China's yuan peg, Reuters | November 23, 2009
Expressing frustration over the Obama administration's light touch on China's yuan exchange rate, two U.S. senators asked the Commerce Department on Thursday to investigate alleged Chinese currency "manipulation." read more »
White House Hopes Trade Can Bolster Labor Market, blogs.wsj.com | November 9, 2009
With the unemployment rate in double-digit territory, the Obama administration is turning to trade policy as a potential balm for the ailing labor market. read more »
