Showing posts with label Jobless. Show all posts
Showing posts with label Jobless. Show all posts

Thursday, March 27, 2014

Senate advances jobless aid

The U.S. Capitol is pictured. | AP Photo

House leadership has no intention of bringing the proposal to a vote. | AP Photo





The Senate took a key step forward on renewing expired unemployment benefits, voting to open debate on a bipartisan measure on Thursday afternoon.


The 65-34 vote was a significant breakthrough, putting the Senate on a glide path to final passage next week.







But Speaker John Boehner has indicated he has no intention of putting the proposal on the House floor, citing concerns about implementation and a dearth of job-creation provisions in the package. Some Senate Republicans forged ahead anyway, despite Boehner’s opposition.


(Also on POLITICO: GOP: Pope’s no liberal)


“I hope if we can get a good vote over here, then [Boehner] will take another look at it,” said Maine Republican Sen. Susan Collins.


Working closely with Sen. Jack Reed (D-R.I.), Collins and GOP Sens. Dean Heller of Nevada, Lisa Murkowski of Alaska, Mark Kirk of Illinois, Rob Portman of Ohio agreed with Democrats to restore through May long-term jobless benefits that expired on Dec. 28. That Republican support ensured that the bill could clear a 60-vote hurdle in the Senate, a significant breakthrough after a similar package fell just one vote short in February and other measures suffered numerous false starts this year.


“We are finally on our way to getting this much needed assistance into the hands of job-seekers, but there needs to be a real sense of urgency,” Reed said after his triumphant vote.


(Also on POLITICO: 5 senators flout Boehner on job aid)


The five Republican deal-cutters got far more support than previously expected, with ten Republicans ultimately blessing the bill’s advance, including Sens. Bob Corker of Tennessee, Ron Johnson of Wisconsin, Dan Coats of Indiana, Kelly Ayotte of New Hampshire and Pat Toomey of Pennsylvania. Many of those Republicans are from blue or purple-tinged states that can expect competitive reelection bids in future years.


The strong GOP support was even more remarkable given that Ayotte and Coats dropped out of the bipartisan negotiations earlier this month — and Coats had predicted he would oppose the deal because it did not include his suggested reforms. Still, Republicans will likely demand votes on some amendments next week and if Senate Majority Leader Harry Reid (D-Nev.) does not allow them, Republicans may slow passage of the bill and GOP support could shrink.


The $ 10 billion effort is paid for by extending U.S. Customs Service fees and changing federal pension laws. The bill also includes a boost for job placement programs and prohibits millionaires from obtaining jobless benefits.


“It’s worth … moving forward with an extension that’s paid for, that has some reforms initially that offers the promise of further reforms, which is why I’m supporting it,” Portman said.


Despite the strong showing on Thursday the vast majority of Senate Republicans still believe the bill’s reforms don’t go far enough. They opposed the legislation, including lawmakers from other high unemployment states like Mississippi and Arizona.


“It is an issue [on which] we need to have fundamental reforms. And to just keep throwing money at the problem, is that reform?” said Sen. John McCain (R-Ariz.), who wants the entire system rewritten, similar to the welfare reform overhaul in the 1990s. “We’ve got to improve the system.”




POLITICO – Congress



Senate advances jobless aid

Friday, March 14, 2014

A CRITICAL WEEKEND FOR CRIMEA – McCain to GOP: Don’t call yourselves ‘Reagan Republicans’ – ST. PADDY’S DAY LUNCH -- Senate strikes deal on jobless aid – HOUSE FIGHTS OVER ISSA AND iPADS


A CRITICAL WEEKEND FOR CRIMEA: RUSSIA MASSES TROOPS ON BORDER – In Moscow, Steven Lee Myers and Alison Smale report on A1 of the New York Times: “With a referendum on secession looming in Crimea, Russia massed troops and armored vehicles in at least three regions along Ukraine’s eastern border on Thursday, alarming the interim Ukraine government about a possible invasion and significantly escalating tensions in the crisis between the Kremlin and the West. The announcement of the troop buildup by Russia’s Defense Ministry was met with an unusually sharp rebuke from Chancellor Angela Merkel of Germany, who warned that the Russian government must abandon what she called the politics of the 19th and 20th centuries or face diplomatic and economic retaliation from a united Europe.” http://nyti.ms/1lC5b2G


SECRETARY OF STATE JOHN KERRY is meeting today in London with his Russian counterpart, Sergei Lavrov, in an attempt to ease tensions before Sunday’s vote. While testifying on Capitol Hill Thursday, Kerry warned that Russia will face an immediate, “very serious series” of responses from the U.S. and Europe if it annexes Ukraine’s Crimea region. AP: http://bit.ly/1ikGNlZ


– U.S.: NO ARMS FOR UKRAINE … YET – “Ukraine’s interim government has appealed for U.S. military aid, including arms, ammunition and intelligence support, according to senior U.S. officials. But the Obama administration has agreed to send only military rations for now, wary of inflaming tensions with Russia. …” Adam Entous reports on A1 of the Wall Street Journal. The U.S. “wants to show support for Ukraine’s interim leaders without further antagonizing an unpredictable Moscow or inadvertently emboldening the Ukrainian military to take steps that could spark violence. ‘It’s not a forever ‘no,’ it’s a ‘no for now,’’ a senior U.S. official said of Ukraine’s request for lethal military support.” http://on.wsj.com/Nd0kIY


– McCAIN TO GOP: DON’T CALL YOURSELVES ‘REAGAN REPUBLICANS’— Seung Min Kim writes for POLITICO: “Sen. John McCain (R-Ariz.) ripped fellow Republicans on Thursday for objecting to a package of aid and sanctions to respond to the Ukrainian crisis, calling himself ‘embarrassed’ and telling his GOP colleagues: ‘Don’t call yourself Reagan Republicans.’ The Senate has erupted in a dispute over provisions related to the International Monetary Fund in the Ukraine bill, as conservative Republicans protest that it is an unnecessary component of the package that passed the Senate Foreign Relations Committee on a bipartisan vote this week.” http://politi.co/Ob2o5j


– U.S. markets tumbled Thursday over worries about the Ukraine crisis and a slowdown in China. The Dow fell 231.19 points or 1.4 percent. Reuters: http://reut.rs/Ob7r5R


** Presented by RepealSGR.org: Congress has bipartisan/bicameral legislation to repeal the SGR and reform the Medicare physician payment system. This new system will be sustainable, fair and efficient, secure patient access, and encourage quality, affordable care. Republican and Democratic Leadership in Congress need to continue working together to develop bipartisan pay-fors. www.repealsgr.org


SENATORS REACH DEAL TO EXTEND JOBLESS BENEFITS – Burgess Everett writes for the hometown paper: “Senators struck a bipartisan deal on Thursday to revive expired long-term jobless benefits following months of dramatic stops and starts on the issue. After an afternoon of frantic negotiations, five senators from each party announced a deal that should finally deliver 60 votes necessary for the aid package to pass the Senate, barring procedural snags. … The negotiations were led by Sens. Jack Reed (D-R.I.) and Dean Heller (R-Nev.), each hailing from states with high unemployment. …


– “It will be awhile before the package sees a vote. The jobless aid package will be considered in late March after the Senate returns from its St. Patrick’s Day recess — though Senate Majority Leader Harry Reid (D-Nev.) said aid to Ukraine will be the first order of business on March 24. And the legislation still must go through a conservative House, where aides to Speaker John Boehner declined to offer an assessment of the Senate deal on Thursday.” http://politi.co/1qC74ju


– Keeping with the spirit of bipartisanship, senators also passed two measures dealing with flood insurance and federally subsidized child care, writes the Washington Post’s Wesley Lowery and Ed O’Keefe: “The Senate voted 72 to 22 Thursday to pass a flood insurance bill that will roll back sharp premium increases to homeowners that were implemented as part of a federal overhaul of the flood insurance program. … Earlier Thursday, senators voted 96 to 2 to reauthorize a child-care development block-grant program and make several changes to improve the quality of federally subsidized child care.” http://wapo.st/1gw9CHW


OBAMA CALLS FOR DEPORTATIONS REVIEW – Seung Min Kim and Reid J. Epstein report for POLITICO: “President Barack Obama finally bowed to pressure from immigration rights activists and signaled on Thursday that he may change his deportation policy. The president changed course after months of claiming there was nothing his White House could do to stem the flow of deportations of undocumented immigrants. Obama announced in a meeting readout that he has requested a review of his administration’s enforcement policies for immigration laws to see if that enforcement can be done ‘more humanely within the confines of the law,’ the White House said Thursday. To immigrant rights activists, however, that is something of a victory. It means Obama is taking steps toward changing the administration’s deportation policies — though the groups won’t be satisfied until the policies are in force.” http://politi.co/1cXSgsl


‘OPEN MIKE’ LAUNCHES WITH MACON PHILLIPS – Check out the debut video of POLITICO’s new weekly series, “Open Mike,” featuring a conversation between Mike Allen and the digital diplomacy lead at the State Department, Macon Phillips. Watch Phillips’ take on how social media and digital strategies are helping shape diplomacy in Ukraine, and hear his thoughts on the popular Deathstar petition: www.politico.com/open-mike/


WHO WANTS PI? – The only two physicists in Congress, Reps. Bill Foster (D-Ill.) and Rush Holt (D-N.J.) will be celebrating Pi Day today with … pie. “On 3.14, take a break from the irrational Congress and celebrate an irrational number with the only two physicists in Congress,” Foster’s office said in an email. There will be a variety of pies and the event, at noon in Foster’s office in Longworth 1224, is open to the public.


COLIN POWELL’S #tbt pic was pretty sweet. But here’s Rep. Nita Lowey and her husband on their wedding day more than 50 years ago: pic.twitter.com/B4v9chykmK


FLORIDA REPUBLICAN DAVID JOLLY was sworn in Thursday as the newest member of the House. He won a special election Tuesday and fills the vacancy left by the death of Rep. Bill Young.


BOEHNER, PELOSI INVITE POPE TO ADDRESS CONGRESS – Our own Jake Sherman writes: “Speaker John Boehner has invited Pope Francis to address a joint session of Congress. It is an open invitation, the speaker’s office said, and it’s not yet clear when he’ll give the speech on Capitol Hill. … ‘His address as a visiting head of state before a joint meeting of the House and Senate would honor our nation in keeping with the best traditions of our democratic institutions’ [Boehner said in a statement]. ‘It would also offer an excellent opportunity for the American people as well as the nations of the world to hear his message in full.’ Boehner and the previous speaker, Democratic Rep. Nancy Pelosi of California, are Catholics.” http://politi.co/1gwfMYy


GOOD FRIDAY MORNING, MARCH 14, 2014, and welcome to The Huddle, your play-by-play preview of all the action on Capitol Hill. Send tips, suggestions, comments, complaints and corrections to swong@politico.com. If you don’t already, please follow me on Twitter @scottwongDC.


My new followers include @BenSchorr and @KatiepLong.


TODAY IN CONGRESS – The Senate is out today. The House is in at 9 a.m. with first and last votes expected between 10:30 and 11:30 a.m. on the SGR Repeal and Medicare Provider Payment Modernization Act. Both chambers are out on recess all of next week.


AROUND THE HILL – Democratic Caucus Chairman Xavier Becerra and Reps. Lucille Roybal-Allard and Michelle Lujan Grisham speak on the ACA and Latino Americans, at 9 a.m. in HVC 215. Speaker John Boehner hosts President Barack Obama, Vice President Joe Biden and Irish Prime Minister (Taoiseach) Enda Kenny at the annual St. Patrick’s Day luncheon at 11:30 in Statuary Hall. A departure ceremony takes place at 1:25 p.m. on the East House Steps.


SCOTT BROWN BEGINS SEEKING STAFF FOR SENATE RUN – Steve Peoples writes for the AP: “Former Massachusetts Sen. Scott Brown has begun seeking campaign staff while aggressively courting New Hampshire’s political elite, marking what local Republicans consider serious steps toward launching a Senate campaign against Democratic Sen. Jeanne Shaheen. The stakes are high for the GOP’s national push for the Senate majority this fall as well as for Brown’s own political ambitions. The longtime Massachusetts resident, having recently relocated to his seacoast New Hampshire vacation home, is expected to launch an exploratory committee to enter the race as soon as Friday, according to several New Hampshire Republican officials who spoke directly to Brown about his plans. The move officially allows him to begin raising money and hiring staff. The officials spoke on condition of anonymity because they were not authorized to publicly disclose his plans before an official announcement.” http://huff.to/1gnHsme


THE ANTI- HARRY REID – “Nevada Gov. Brian Sandoval is nearly impossible not to like,” Jon Ralston writes in POLITICO Magazine. “He has a sunny disposition and seems ever eager to work with Democrats, who have nary a bad word to say about him. He’s highly popular in Nevada, with approval numbers in the mid-60s, and he stays on message as well as anyone in politics. He is, in a phrase, the anti-Harry Reid. Which is why the prospect of Sandoval facing off against the occasionally dyspeptic, sharply partisan and manifestly unpopular Senate majority leader in the 2016 U.S. Senate race has some Republicans writing Reid’s political eulogy. ‘It would be a wipeout,’ said one Nevada insider. ‘He is 100 percent the perfect candidate against Harry Reid.’


– “Reid knows this, of course. No one plays the political chessboard like the majority leader; following his moves sometimes feels like watching a real life House of Cards, without the murders. He saw the Sandoval threat coming nearly a decade ago. Back then, Reid managed to sideline the up-and-coming Sandoval with a federal judgeship … But … Sandoval left the bench in 2009 and defeated Reid’s son, Rory, in a race for governor. Now it may be Reid the Elder’s turn as Sandoval could defeat two members of the same family for the two highest offices in the state. There’s just one question: Does Sandoval even want to run for the U.S. Senate?” http://politi.co/1npfFqI


A FIGHT OVER ISSA AND IPADS – Matt Fuller, Emma Dumain and Steve Dennis report for Roll Call: “Republicans once again blocked a Democratic resolution demanding a House floor apology from Oversight and Government Reform Chairman Darrell Issa for silencing Rep. Elijah E. Cummings last week during an IRS hearing. The nearly party line vote to table the privileged resolution came after a theatrical display of protest on the floor, with Democrats refusing to give up on the issue. As [Rep. Dan] Kildee and his Democratic colleagues offered the resolution, they defiantly held pictures of Issa making the throat-cutting motion, displaying the image on iPads, iPhones and paper. A floor procedure kerfuffle, in which a new House precedent may have been established, ensued.


– “Presiding officer Mike Simpson, R-Idaho, insisted that that ‘House will not proceed’ as long as Democrats continued to hold up their iPads displaying the image. ‘Regular order would be putting the iPads down,’ Simpson said.” http://bit.ly/1kQIfiS


POT LOBBY’S PITCH: IT’S GOOD BUSINESSES – Holly Yeager reports for the Washington Post: “The delegation from the National Cannabis Industry Association made a point of dressing well for its day on Capitol Hill, sporting mostly dark suits, lots of ties and plenty of the group’s signature lapel pins, which feature a sun rising over vibrant fields of marijuana. Marijuana advocates have come to lobby Washington before, often to argue for more lenient treatment under federal law. But on Thursday, buoyed by a flurry of state decisions that have expanded the legal use of marijuana, the cannabis crowd came less as social activists than as entrepreneurs, asking Congress to remove some of the obstacles that stand in the way of their fledgling businesses.” http://wapo.st/1iHCv6x


– How many members of Congress use pot? Jared Polis has a guess. Elahe Izadi in National Journal: http://bit.ly/1dWhFAC


THURSDAY’S TRIVIA WINNER – Paul Hays was first to correctly answer that Wilmer “Vinegar Bend” Mizell, a former North Carolina congressman, was raised in Mississippi but nicknamed after a town in Alabama where he was born.


TODAY’S TRIVIA – Brad Grantz has today’s question: This former Pennsylvania Democratic congressman had a grandson who went onto fame as a baseball announcer for the Pittsburgh Pirates. Name the congressman and his grandson. The first person to correctly answer gets a mention in the next day’s Huddle. Email me at swong@politico.com.


GET HUDDLE emailed to your Blackberry, iPhone or other mobile device each morning. Just enter your email address where it says “Sign Up.” http://www.politico.com/huddle/


** Presented by RepealSGR.org: Bipartisan/bicameral legislation to repeal the failed Medicare cost control formula called the Sustainable Growth Rate (SGR), and reform the Medicare physician payment system, has been introduced. The bill would create a system that is sustainable, fair and efficient, secure patient access and encourage quality, affordable care. SGR threatens patient access with drastic Medicare provider cuts. Physicians face constant instability, demonstrated by the 23.7 percent cut to physician payments scheduled for April 1. Congress has spent over $ 154 billion – more than the cost of the legislation – on 16 short term patches in the last decade. These patches are the equivalent of paying the minimum on a credit card – it delays the inevitable, increases the total bill and is bad for the budget. Republican and Democratic Leadership need to continue working together to develop bipartisan pay-fors so the House and Senate can pass S.2000/H.R. 4015, by March 31. www.repealsgr.org




POLITICO – Top 10 – Huddle



A CRITICAL WEEKEND FOR CRIMEA – McCain to GOP: Don’t call yourselves ‘Reagan Republicans’ – ST. PADDY’S DAY LUNCH -- Senate strikes deal on jobless aid – HOUSE FIGHTS OVER ISSA AND iPADS

Thursday, February 20, 2014

Jobless claims fall, weather clouds factory picture


Job seekers listen to a presentation at the Colorado Hospital Association health care career fair in Denver April 9, 2013.


Credit: Reuters/Rick Wilking




Reuters: Top News



Jobless claims fall, weather clouds factory picture

Friday, December 27, 2013

Democrats plan big push on jobless aid in new year




WASHINGTON Fri Dec 27, 2013 7:48pm EST



U.S. President Barack Obama speaks to military personnel during a Christmas day visit to Marine Corps Base Hawaii in Kaneohe, Hawaii December 25, 2013. REUTERS/Kevin Lamarque

U.S. President Barack Obama speaks to military personnel during a Christmas day visit to Marine Corps Base Hawaii in Kaneohe, Hawaii December 25, 2013.


Credit: Reuters/Kevin Lamarque




WASHINGTON (Reuters) – President Barack Obama and Democrats will make a major push when Congress returns January 6 to renew expired benefits for the unemployed and will seek to pressure Republicans over the issue by painting them as uncaring toward the middle class.


Federal unemployment benefits will officially expire for 1.3 million out-of-work Americans on Saturday. With Congress in recess, no last-minute fix is possible.


Democrats have spent much of the holiday week criticizing Republicans for resisting an extension of the emergency jobless aid program, which began in 2008 under President George W. Bush and has been extended every year since then.


The federal benefits kick in once people exhaust their state jobless benefits, which end in many states after 26 weeks.


Senate Majority Leader Harry Reid has vowed to make an extension of the benefits the top issue in his chamber when Congress returns on January 6.


The issue is part of an economic agenda aimed at winning support from middle-class Americans. Along with the push for an extension of unemployment insurance, Democrats will also push for an increase in the minimum wage.


The renewal of unemployment benefits is expected to face opposition in the Republican-led House of Representatives, but Democrats said this week they are increasingly optimistic about gaining political traction for the issue.


Democrats have been highlighting the personal stories of out-of-work Americans about to be bumped off the unemployment rolls.


PLIGHT OF MOTHERS


An ad running on cable television by the liberal group Americans United for Change accuses Republicans of putting the interests of the wealthy above those of ordinary Americans and spoiling Christmas for the unemployed.


Earlier this week, House of Representatives Minority Leader Nancy Pelosi, a Democrat, held a conference call with reporters to highlight the plight of unemployed mothers.


The White House is also hammering the message.


“As the president has repeatedly made clear, it defies economic sense, precedent and our values to allow 1.3 million Americans fighting to find jobs to see their unemployment insurance abruptly cut off – especially in the middle of the holiday season,” Gene Sperling, director of the White House National Economic Council, said in a statement.


Obama, who is spending the holidays in Hawaii with his family, on Friday telephoned Democratic Senator Jack Reed and Republican Senator Dean Heller, the sponsors of a measure that would temporarily extend the federal unemployment benefits.


Congressional Democrats, on the defensive over the botched rollout of Obama’s signature healthcare law, view a focus on economic issues as a chance to improve their prospects in the midterm congressional elections in November.


Reviving a strategy that helped Obama win re-election in 2012, Democrats plan to use Republican resistance to renewing unemployment benefits and raising the minimum wage to portray them as insensitive to the struggles of middle- and lower-income Americans.


CLOCK TICKING


“The clock is ticking, not only for 1.3 million Americans who have been looking for work for longer than six months, but tens of thousands more who each week will lose their unemployment insurance if House Republican leaders don’t agree to put an extension up for a vote,” said Representative Sander Levin, ranking Democrat on the House Ways and Means Committee.


Democrats have seized on a comment earlier this month from Republican Senator Rand Paul that extending the unemployment benefits would be a “disservice” to those out of work by giving them less of an incentive to rejoin the workforce more quickly.


Republicans have argued that the federal unemployment benefits were always meant to be temporary and that the program would add to the deficit unless offset by reductions in spending elsewhere in the budget.


“We’re not going to convince (Republicans) substantively that it’s the right thing to do. We have to put political pressure on them,” said Brad Woodhouse, president of Americans United for Change.


The proposal by Reed, a Rhode Island Democrat, and Heller, a Nevada Republican, would extend the federal unemployment benefits for three months.


(Reporting by Caren Bohan; Editing by Fred Barbash, Andrew Hay and Jan Paschal)






Reuters: Politics



Democrats plan big push on jobless aid in new year

Wednesday, November 13, 2013

UPDATE 3-Bank of England slashes jobless forecast, sows confusion over guidance

UPDATE 3-Bank of England slashes jobless forecast, sows confusion over guidance
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/75661__p-89EKCgBk8MZdE.gif




Wed Nov 13, 2013 5:57am EST



By David Milliken and Costas Pitas


LONDON Nov 13 (Reuters) – Britain’s unemployment rate will fall much faster than previously expected due to a strengthening economic recovery, the Bank of England said on Wednesday, but it stressed that it was in no hurry to raise interest rates.


Governor Mark Carney committed in August to keep interest rates at a record low 0.5 percent until unemployment fell to 7 percent – something the BoE predicted at the time could take three years.


But in a new set of brighter economic forecasts, the central bank said unemployment could hit 7 percent in the last three months of 2014, around two years earlier than it expected in August.


“For the first time in a long time you don’t have to be an optimist to see the glass is half full. The recovery has finally taken hold,” Carney told a news conference after the bank published its quarterly inflation report.


However, the central bank stressed that its Monetary Policy Committee was not about to raise interest rates any time soon, as headwinds remained, particularly from the euro zone.


“The MPC’s intention (is) to maintain the exceptionally stimulative stance of monetary policy until there has been a substantial reduction in the degree of economic slack,” it said.


Carney reiterated that a fall in unemployment would not be an automatic trigger for an increase in interest rates.


Sterling jumped and British government bond prices fell to their lowest level in four weeks as investors adjusted to the Bank’s new, shorter timeframe for when unemployment might fall to its threshold for considering an interest rate hike.


Financial markets – which were sceptical about the BoE’s August unemployment forecast – had been pricing in a rise in BoE interest rates around early 2015.


But if interest rates rise as the market expects, growth will be weaker and unemployment will prove slower to fall, the BoE predicted, saying that in this case its mean forecast was for unemployment to stay above 7 percent until the end of 2016.


Data published earlier on Wednesday showed Britain’s unemployment rate fell to 7.6 percent in the three months to September, edging close to the Bank’s threshold.


The BoE said that its central forecasts were now all based on market interest rate expectations, but that did not mean that it believed these rate expectations were correct.


Nonetheless, on this basis it expects inflation to fall below its 2 percent target at the start of 2015 – six months earlier than it had expected in August.


It also revised up its growth forecasts for this year and next. It sees 0.9 percent growth in the last three months of 2013, taking full-year growth up to 1.6 percent compared to 1.4 percent forecast in August. For 2014 it expects annual growth of 2.8 percent, compared to 2.5 percent predicted in August.


Britain’s economic output remains well below pre-crisis levels, however, unlike in most other major economies, and the belief that there is a large amount of unused capacity in Britain is what makes the BoE want to keep rates on hold.


Unlike private-sector forecasters, most of the BoE’s Monetary Policy Committee are convinced that weak labour market productivity will rebound sharply as growth picks up, allowing rapid expansion without creating much extra demand for workers.


Britain’s unemployment rate was nearer 5 percent before the financial crisis, and deputy governor Charlie Bean suggested last month that the 7 percent threshold could be lowered if domestic inflation pressures appeared muted.






Reuters: Bonds News




Read more about UPDATE 3-Bank of England slashes jobless forecast, sows confusion over guidance and other interesting subjects concerning Bonds at TheDailyNewsReport.com

Sunday, October 20, 2013

Strange bedfellows: Italy’s budget crisis unites jobless youth and big business



Published time: October 20, 2013 15:56



A protester clashes with a Guardia di Finanza policeman in front of the Ministry of Finance building in downtown Rome October 19, 2013 (Reuters / Alessandro Bianchi)





Public unrest in Italy, fueled by the new budget rolled out by the shaky ruling coalition, has united unemployed youth and the captains of industry in opposition, James Walston, an Italian politics expert from the American University of Rome, told RT.


Violent clashes broke out between police and demonstrators in Rome on Saturday as up to 70,000 took to the streets to protest Italy’s new budget.


Earlier this week, Prime Minister Enrico Letta – who leads the unstable Left-Right coalition – presented the 2014 budget, which immediately came under fire from both sides of the coalition.


The left criticized the budget for freezing state sector pay and pensions, while the right and big-business said it failed to stimulate growth with insufficient cuts to Italy’s oppressive corporate taxes.


Walston says that attempts to balance Italy’s books are rooted firmly in a eurozone system which many argue is being steered by Berlin.


RT: It was a turbulent night in Rome. Can we expect to see even more unrest?


James Walston: We are seeing more this morning. This morning the protesters have camped outside one of the gates of Rome – ironically, where the Italians came to conquer Rome from the Popes in 1870. And today, of course, it’s a major traffic hub and on a Sunday it doesn’t matter too much, but the traffic around the center of the city is blocked, because they are protesting and camping there, and say they want to mobilize the city. So this is going on, and will probably go on in different ways for a long time now.


RT: So is the government going to review this unpopular budget that actually triggered such public discontent?


JW: Well, the budget was published on the 15th, – a few days ago – and it will be passed (as) this was the proposal from the government. It has to be passed by the end of the year; it’s going to be modified anyway. And the government has not yet said how it’s going to modify the budget. But so many people – from the employers to the trade unions to different political parties – and now very strong protests from young people of various sorts who said ‘We do not like the government, we don’t like the budget. We want a recovery budget, we want a growth budget.’ This is what they’re complaining about. They’re complaining about the same thing as the employers. It’s an unusual situation, but that’s what we have.


RT: Even the Red Cross is warning about austerity in Europe, saying it’s caused a deep social crisis that will be felt for decades. So why continue with it?


JW: Well, the euro(zone) economy and to a lesser extent the whole of the European economy – those EU countries outside of the euro system – is conditioned and some would actually say run by Germany and Chancellor Merkel. As we know, Germany, and in particular Chancellor Merkel and her government, have an abhorrence of anything leading to inflation. By putting into effect a growth package, there is the risk of inflation.  There is certainty of some inflation, and there’s the risk of serious inflation – not a very big risk – but there is a risk of serious inflation. Because of what happened in Germany 80-90 years ago, there is this terror of inflation. Germans have put a limit on growth; they want to get everyone’s accounts right.


This is where we started. Remember, we started because the Greek economy, apart from the world reasons but within the European system, the Greek economy was way over budget. They’d been spending far too much for far too long. The Italian budget, well, not the budget but the national debt is in the same situation. So what the Germans are trying to do is to rein this in. But of course in many ways it’s made things much worse and we will have some sort of change now that the Chancellor is back in the seat and she has a new mandate. There is a chance that we will have some sort of growth at a European level, we’re going to have to have growth budgets at local, at domestic levels.




RT – Op-Edge



Strange bedfellows: Italy’s budget crisis unites jobless youth and big business

Thursday, August 29, 2013

U.S. jobless claims data points to pickup in job gains in August


A job seeker (C) talks to an exhibitor at the Colorado Hospital Association health care career fair in Denver April 9, 2013.


Credit: Reuters/Rick Wilking




Reuters: Top News



U.S. jobless claims data points to pickup in job gains in August

Thursday, August 15, 2013

Jobless Claims Drop To Pre-Recession Level





The scene at a career fair held by the National Urban League last month in Philadelphia.



Mark Makela /Reuters /Landov

The scene at a career fair held by the National Urban League last month in Philadelphia.



The scene at a career fair held by the National Urban League last month in Philadelphia.


Mark Makela /Reuters /Landov



There were 320,000 first-time claims for unemployment insurance filed last week, the Employment and Training Administration reports.


Not only is that 15,000 fewer than had been filed the week before, it’s also the lowest number for any single week since before the U.S. economy officially slipped into its most recent recession in December 2007.


According to historical data kept by the agency, the last time claims for jobless benefits were lower in any single week was in October 2007. The last time claims for a single week were within a couple thousand of last week’s level was in January 2008, just after the recession began, when they totaled 322,000 one week and 321,000 the next.


During the recession, which officially ended in June 2009, claims reached a peak of 670,000 one week in March 2009. For most of the past two years, they stayed in a range of 350,000 to 400,000 per week.


Bloomberg News says the decline last week signals that “the U.S. job market continues to mend.”


Reuters writes that the data are “hinting at a pick-up in job growth in early August.” It also notes that:



“The four-week moving average for new claims, which irons out week-to-week volatility, fell 4,000 to 332,000, the lowest level since November 2007.”





News



Jobless Claims Drop To Pre-Recession Level

Friday, June 7, 2013

U.S. Added 175,000 Jobs in May; Jobless Rate Rises to 7.6%


Justin Sullivan/Getty Images


Job applicants at a career fair at City College of San Francisco last month.




American employers added 175,000 jobs in May, almost exactly the average of job growth over the last 12 months, the Labor Department reported Friday, while the unemployment rate ticked up to 7.6 percent.





Source: Bureau of Labor Statistics





The latest numbers come after a string of other disappointing economic indicators.


“In general, the economy is just puttering along,” said Joshua Shapiro, chief United States economist with MFR Inc., a consulting firm. “Companies can get by without hiring people, so they do.”


Consumers themselves have been pretty upbeat nonetheless, according to recent polling data.


In a New York Times/CBS News poll conducted May 31 to June 4, 39 percent of respondents said that the condition of the economy was very or fairly good, the highest share saying this since President Obama took office and even since the recession officially began in December 2007.


Nearly half of respondents – 46 percent — rated the job market in their area as very or fairly good, with a third saying that they think their local job markets will improve over the next year. (The poll has a margin of sampling error of plus or minus three percentage points.)


Some of this optimism likely has to do with rising home and stock market values, which make consumers feel wealthier. Given the positive outlook among consumers, economists are not sure what is dragging on the economy, particularly given how well the housing market seems to be doing.


Unusual weather patterns – the mild winter and cold spring — may have played a role in business activity and when employers hired. The across-the-board federal spending cuts that officially began March 1 — known as the sequester — could also be hurting the private sector, although it is hard to tell how much.


“Any negative news is going to be blamed on the sequester, which I think is becoming a bit of an excuse at this point,” said Joseph A. LaVorgna, chief United States economist at Deutsche Bank. “It’s a factor, but it’s not as big as people believe it is.”


The federal government lost 14,000 jobs in May, and the spending cuts probably also had effects in the private sector, as laid-off or furloughed government workers had less money to spend at their local businesses.


In addition to causing layoffs, the sequester could also be affecting those who already have lost their jobs by trimming social safety net services like Meals on Wheels and job training programs. Almost every state has cut its unemployment insurance benefits as a result of the sequester, according to the National Employment Law Project, a labor-oriented research and advocacy organization. Some states, like Florida and Maine, are cutting the weeks for which jobless workers will continue receiving benefits, and others, like Illinois, are reducing the size of the weekly benefit checks (in Illinois, the cut was 16.8 percent). Some states, like Washington and Idaho, are also laying off employees who work in the labor agencies that help workers apply for benefits and find jobs.


North Carolina is ending its federally funded extended unemployment benefits on July 1 because reductions in its state benefits left it ineligible for the federal money.


“I’m having a hard time finding somebody who will give a 50-year-old with a few health problems a chance,” said Dwayne Fields of Goldsboro, N.C. He was let go from his warehouse manager job of 12 years last October for “poor job performance” after he told his boss about some health problems, including a diagnosis of cardiomyopathy, hypertension and sleep apnea. He said he has since gotten treatment that has put him back into good working shape, but no one responds to his job applications. And his $ 212 weekly jobless benefit checks are about to end.


“I’m probably too old to flip burgers and deliver pizzas,” he said. “But if worse comes to worst I’ll do it. I’ve got an old lady and a 11-year-old kid to support.”




NYT > Global Home



U.S. Added 175,000 Jobs in May; Jobless Rate Rises to 7.6%

Thursday, May 16, 2013

New Jersey income tax collections up, jobless rate down in April




Thu May 16, 2013 5:39pm EDT



(Reuters) – New Jersey’s unemployment rate dropped to 8.7 percent in April and personal income tax collections rose 29.1 percent to $ 2.23 billion from the same month last April, state data show.


The revenue increase, along with the third consecutive monthly decline in the jobless rate, are good news for New Jersey’s economy, which has struggled to recover from the recession.


So far this fiscal year, New Jersey has taken in $ 9.6 billion in personal income tax revenue, 12.8 percent greater than the same period last year, state Treasury Department numbers showed on Thursday.


Total revenues were up 20 percent in April compared with the same month last year and up 6.9 percent for the fiscal year-to-date to $ 20.7 billion.


New Jersey’s rise in April personal income tax collections was about on par with a Thomson Reuters sampling of other U.S. states, which had a median 24.4 percent increase, excluding California’s dramatic 74 percent spike.


Across the country, however, the improvements might not continue as a still-shaky economy, tax cuts in some states and federal budget woes could depress revenue growth.


The good news also comes with another hitch: The surge stems in part from taxpayers who pushed income ahead into 2012 to avoid federal tax hikes that took effect in January, according to the report this month from the Rockefeller Institute of Government, an independent research group in Albany, New York.


“The temptation will be (for states) to treat it as recurring revenue available to support ongoing spending, or available for tax cuts,” wrote the report’s authors, Don Boyd and Lucy Dadayan. “Caution is in order.”


In New Jersey, Christie has renewed pressure on state Democrats to implement a tax cut, similar to one they prevented last year because the state’s revenues had not improved enough.


(Reporting by Hilary Russ. Editing by Andre Grenon)





Reuters: Economic News



New Jersey income tax collections up, jobless rate down in April