Stock Market Shrugs Off Jobs Report Nov 7, 2009
PIMCO has been consistent in discouraging the Fed from prematurely exiting quantitative easing and accommodative policy, notes El-Erian warned "It's not just the increase in the headline number to 10.2%. It's also about the longer-term nature of unemployment, the increase in underemployment, and the prospect for only a very gradual recovery.". Page. (BusinessWeek)
How are you faring in this worsening job market? Nov 7, 2009
5 percent; however, I believe the rate for underemployment is 20 25 percent. John. (Atlanta Journal-Constitution -- Business)
Triumph of fiscal delusion over economic reality Nov 7, 2009
To that you must add a surge in underemployment and a rise in the number of ''discouraged job seekers. That doesn't qualify as a recession. (Sydney Morning Herald -- Business)
Jobless rate hits 10.2%, first time over 10% since '83 Nov 7, 2009
And the underemployment rate which includes the unemployed, people working part time even though they wanted full-time work, and those who stopped looking for work rose to a record 17. 5. (USA Today -- Money)
U.S. Jobless Rate Surges to 10.2 Percent Nov 7, 2009
"It's also about the longer-term nature of unemployment, the increase in underemployment and the prospect for only a very gradual recovery," he said. While Obama sees job creation as his top priority, the scope for further steps to boost the economy is limited by record budget deficits. (Newsmax)
Newton People Nov 4, 2009
Each year, at its annual Starfish Thrower Award Gala, Operation ABLE recognizes mature workers who exemplify exceptional dedication and commitment in transitioning from unemployment or underemployment to more meaningful and financially rewarding careers. Hardenburgh was devoted to transitioning from child rearing and working in the family business to a management position in the corporate world. (Newton Tab, MA)
Why Hope & Change Isn't Working Economically Nov 1, 2009
But when we add in the fact that nearly double that number of Americans have settled for underemployment, and are thus unable to truly provide completely for the needs of their families, we see the fuller picture. Two significant promises have been broken by the administration on the issue of jobs. (Townhall.com)
Underemployed compound state's jobless troubles Oct 27, 2009
But her situation is captured by a broader measure, the underemployment rate, which, in addition to the jobless, includes people who could get only part-time work as well as those who want jobs but were too discouraged to look. The state Employment Development Department estimates that this underemployment rate hit 21 ... "Underemployment is at the highest level since we started keeping these records in 1994," said economist Sylvia Allegretto of the Institute for Research on Labor and Employment... (San Francisco Chronicle)
Prepare for deteriorating home affordability, the return of inflation concerns and rising interest rates. Oct 26, 2009
The advantages of an earlier than expected recovery include an earlier return to growing employment and declining underemployment. A shallower and shorter recession means a much smaller problem with long-term unemployment. (Sydney Morning Herald -- Business)
A great deal rides on the inflation figures Oct 26, 2009
The advantages of an earlier than expected recovery include an earlier return to growing employment and declining underemployment. The earlier return to growth means a much smaller than projected accumulation of public debt and an earlier return to budget surplus, with any surplus used to begin repaying the debt. (Sydney Morning Herald -- Business)
READ: Bank of American's press release Oct 17, 2009
" Third-Quarter 2009 Business Highlights -- Average retail deposits in the quarter increased $93.0 billion, or 16 percent, from a year earlier, including the net impact of $72.1 billion in balances from Merrill Lynch and Countrywide. Excluding Countrywide and Merrill Lynch, retail deposits grew $20.9 billion, or 4 percent, from the year-ago quarter. -- Global Wealth and Investment Management was ranked No. 1 among U.S. wealth managers with more than 25 percent of the nation's top 100 financial... (USA Today -- Money)
NY consumers more upbeat but spending flat Oct 8, 2009
Unemployment and underemployment remain key concerns among New Yorkers, SRI Director Dr. Douglas Lonnstrom said. On average the index is up 12 percent across all areas of the state from this time a year ago, he said, but this boost is more relief that we didn t collapse rather than robust confidence that would translate into renewed consumer spending. (Buffalo Business First, NY)
263,000 Jobs Lost, Worse Than Views; Jobless Rate 9.8% Oct 3, 2009
The underemployment rate, which includes discouraged workers and involuntary part-time workers, climbed to 17. Companies have shed some 7. (Investors Business Daily)
State's jobless rate tumbles Sep 25, 2009
She said the national underemployment rate, which includes the unemployed and discouraged workers, rose in August to 16. 8 percent from 16. (The Clarion-Ledger)
Bosses party as the jobless queues grow Sep 22, 2009
However, if we factor in underemployment (ie people working short hours) and the increase in the number of people not even bothering to look for work, and the effective unemployment rate in Australia is approaching 15 per cent.. It may be that this massive increase in part-time work is a precursor to large increases in unemployment as the bosses move from part-time to no-time jobs. (Sydney Morning Herald -- Opinion)
Is America Hooked on War? Sep 18, 2009
7% and an underemployment rate of 16. 8%, the American taxpayer is financing the building of a three-story, exceedingly permanent-looking $17 million troop barracks at Bagram Air Base in Afghanistan. (CBS News -- Politics)
Mortgage demand dips on rising rates Sep 17, 2009
Job loss and underemployment spread the pain in housing from the subprime sector, where borrowers often only could afford initial payments with exotic and risky adjustable-rate loans, to "prime" borrowers that favor fixed-rate mortgages. For the first eight months of the year, 69 percent of homeowners who turned to national nonprofit Consumer Credit Counseling Service of Greater Atlanta for foreclosure prevention help had fixed-rate loans. (MSNBC -- Business)
Japan's New Prime Minister — and New Shadow Shogun Sep 17, 2009
Hatoyama has yet to make his first major policy speech, addressing his vision of Japan, which, says Robert Dujarric, director of the Institute of Contemporary Japanese Studies at Temple University's Japan Campus, needs to deal with "the demographic death spiral low fertility, underemployment of female professionals, low immigration. That's the real life-and-death question for the nation.". "Hatoyama is dead serious about changing the way Japan is governed," says Columbia University's Curtis, who... (Time.com)
A lost decade ahead Sep 15, 2009
It is less clear how much households will cut back now that their wealth has been greatly reduced or depleted to negative net worth and unemployment and underemployment are rising. The effect can be expected to be exponential since the "saving" is merely going to extinguish a small portion of outstanding mortgage and consumer debt. (Asia Times Online)
Unemployment rate doesn't tell the whole story Sep 14, 2009
But a broader index, called the underemployment rate, adds in people who are forced to work part-time, or do odd jobs, as well as those who have grown so discouraged they have quit job-hunting even though they would like to work. "It is a more complete picture of what percentage of the population is struggling to find a job," said economist Amar Mann, with the San Francisco office of the Bureau of Labor Statistics, which publishes the unemployment and underemployment rates ... The bureau... (San Francisco Chronicle)
FDIC: Bank buyers should help jobless Sep 13, 2009
FDIC asks bank buyers to help struggling homeowners - Denver Business Journal. for free extra services. (Denver Business Journal, CO)
The Reality of Economic Recovery Sep 11, 2009
When you tally up the officially unemployed with discouraged workers and the underemployment (part-time workers who want full-time jobs), 19 percent of Americans 30 million people can't find the work they need. This is our economy's true crisis, and there can be no happy talk until we deal with it. (Paragould Daily Press, AR)
* UBS says job losses may hamper policy tightening Sep 10, 2009
Jobless rates may also mask movements from manufacturing to informal jobs and growing underemployment, the Manila-based lender said. Chinas urban unemployment rate rose to 4. (Taipei Times, Taiwan -- World Business)
Afghanistan by the numbers Sep 10, 2009
7%, an underemployment rate of 16. 8%, and a record 25. (Asia Times Online)
BofA sees credit card defaults rise Sep 9, 2009
Consumers remained under significant stress as unemployment and underemployment increased and individuals spent longer periods without work, BofA said in that report. These conditions led to higher losses in almost all consumer portfolios compared with the prior quarter. (Albany Business Review, NY)
National Recession Sets Wages Back for Middle-Class Pennsylvanians Sep 6, 2009
The U.S. underemployment rate is 16% -- nearly one out of every six workers. To bring the share of the working-age population who are employed back to the pre-recession level in Pennsylvania, 230,000 jobs would have to be added to the state's economy. (PR Newswire)
Extend unemployment benefits Sep 6, 2009
Underemployment and unemployment devastate communities and leave a wake of delinquent mortgages and foreclosed homes, hopelessness and despair. They diminish families' economic well-being for years to come. (San Francisco Chronicle -- Opinion)
US recovery difficult as jobless rate hits 9.7% Sep 5, 2009
If laid-off workers who have settled for part-time work or given up seeking jobs are included, the so-called underemployment rate hit 16. 8 percent last month. (The Star Online, Malaysia)
Unemployment rate creeps closer to 10% Sep 5, 2009
This underemployment rate was 16. 8 percent in August, its highest since the department began keeping track in 1994. (San Francisco Chronicle -- Business)
Stand Up for Health Care! A Labor Day Message From RWDSU President Stuart Appelbaum Sep 5, 2009
Once underemployment is factored in the rate tops 20 percent. RWDSU families there and throughout America know better than anyone what's happening to working families. (PR Newswire)
We are all rent seekers now Sep 2, 2009
These numbers suggest that underemployment is a much bigger issue than we were led to believe ... We have just started to examine the extent of underemployment and to ascertain the number of workers that would like to work more hours. (Sydney Morning Herald -- Business)
Residential Mortgage-Backed Securities Market Stabilizing, Moody's Says Sep 2, 2009
The growth rate of future delinquencies may slow down, based on both unemployment and underemployment rates, said , a Moodys analyst in Sydney. this week said profit in the 10 months ended July climbed from the same period a year earlier after lending grew and bad debts were lower than internal estimates. (Bloomberg -- Australia & New Zealand)
Rudd the social democrat must confront underemployment Sep 1, 2009
But to be worthy of this description he will have to tackle underemployment, the deeper causes of which cut to the core of social democrats' raison d'etre. Underemployment has hit the headlines lately with revelations that if we added those who want more work to the official unemployment rate the numbers would nearly double ... The rate of underemployment is growing most rapidly among men (it has long been a problem for women). (Sydney Morning Herald -- Opinion)
Tortuous September Ahead for Obama Sep 1, 2009
2 million employees at risk of unemployment or underemployment, according to a new study. by actornaught August 31, 2009 2:16 PM EDT. (CBS News)
Let's fix the underlying health care problems first Sep 1, 2009
stopitnow wrote on Aug 31, 2009 8:48 AM:" Unemployment and underemployment is the biggest problem we have and as far as I can tell, it is now reversing. All of the hubbub about health care has overshadowed our shrinking GDP. Until we can stop this downward spiral, our "leaders" need to focus on the health of our economy. ". olyjt wrote on Aug 31, 2009 9:20 AM:" Costs associated with tort reform address, at most, 3%. We have a lot bigger fish to fry. "Inside" is right when they say that some... (Longview Daily News, WA)
Key Dem Calls Party Moderates "Brain Dead" Aug 28, 2009
"COMPLETE OVERHAUL: 31%MAJOR REFORM: 39%MINOR REFORM: 31%NO CHANGE: 7%unsure 2%So 60% (a majority) want AT LEAST a major reform, and three times as many want a complete overhaul as want to leave things the way they are. That's why the Republicans in Congress get a 21% approval, 62% disapproval rating for their approach to health care.Many other polls have shown comparable results.Maybe "saying so" doesn't make it true, but reproducible polling results do. by j_mcdonald-2009 August 28, 2009 12:43... (CBS News)
Lockhart: Econ. stabilizing, recovery slow Aug 27, 2009
Lockhart: Economy stabilizing, recovery to be slow - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
When home is a debt trap Aug 26, 2009
On the jobs front, while the unemployment rate hasn't risen as hard or as fast as expected, the trend is nevertheless on the increase and "underemployment" resulting in reduced hours and smaller pay packets is the fresh concern ... As well as unemployment, underemployment and rising rates, researcher CoreData has identified the possibility of price falls as a concern for first-home buyers who are paying over the odds to secure a property while the first-home buyer boost is still available ...... (Sydney Morning Herald -- Business)
Labour reforms win praise from US Aug 24, 2009
"Women have more precarious jobs and are over-represented among the hidden unemployed who completely opt out of the labour market,'' the president of the ACTU, Sharan Burrow, said.The report, commissioned by the National Foundation for Australian Women, found women accounted for 63 per cent of the 516,100 people who are not counted in the official unemployment figures because they do not satisfy the definition. To be counted as unemployed by the Bureau of Statistics a person must have looked for... (Sydney Morning Herald -- Australia)
LETTER: President didn't provide a great example Aug 23, 2009
elbert wrote on Aug 21, 2009 10:12 AM:" DcothernThank you for your kind reply.I was listening to the radio reporting on the first plane cash into the World Trade Center when I heard them report a second plane crash. I walked out of my office and told my secretary what had happened and remarked that One plane might be an accident, but two plane crashes were not an accident.I think the present tax code is a disgrace. For example, I fail to understand how a widow with one child is charged a... (Mattoon Journal-Gazette, IL)
Vegas jobless rate hits all-time high of 13.1%... Aug 22, 2009
Aguero sees underemployment written all over the latest figures that gauge hours on the job. The average number of hours worked by all private-sector employees in Nevada was 35. (The Drudge Report)
LETTER: Recruit more business so 'buy local' is possible Aug 22, 2009
Mike P wrote on Aug 21, 2009 11:44 AM:" Charleston had the biggest drop in median income in 2007. Local leaders on many levels, dismissed it, excused it, and left it lay. Stepping right on over it, as they went back to buy local promoting. Many said the students were what brought the figures down. What if they didn't. What if they were propping it up, like they have the city for generations. As long as cycles have gone on in that town, many folks who have been there for years still don't get it.... (Mattoon Journal-Gazette, IL)
US new jobless claims rise for second week Aug 21, 2009
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US industrial output rebounds, consumer prices flat Aug 15, 2009
Bethune said the report was "a sober reminder of how much pressure households are under in terms of the huge cumulative declines in household wealth over the recession, trend increases in unemployment and underemployment, and downward pressure on wages, salaries and benefits as companies have clamped down on costs.". Ian Shepherdson, economist at High Frequency Economics, noted persistently tight credit conditions, despite the authorities' massive efforts to kick-start lending. (Yahoo! Asia News)
Weak consumer confidence raises alarm on US recovery Aug 15, 2009
" Bethune cited huge cumulative declines in household wealth since the recession began in December 2007, rising unemployment and underemployment, and downward pressure on wages, salaries and benefits as companies slash costs. Separately, the Federal Reserve reported US industries boosted production in July for the first time in nine months, by 0.5 percent, a tick higher than the consensus forecast of 0.4 percent. The Fed noted that "aside from a hurricane-related rebound in October 2008, the... (Channelnewsasia.com)
Retail Sales: How to Get Consumers Spending Again Aug 14, 2009
Their ability to spend has been reduced as record numbers of people face joblessness and underemployment, and increased uncertainty and stress levels have reduced consumer motivation. Discretionary spending has plummeted. (BusinessWeek)
Unemployment call centers to close Friday for furlough Aug 12, 2009
The Real World wrote on Aug 11, 2009 11:02 AM:" I doubt if anyone of us (government please help me people) will understand my point, but as we are passing debt on to our children and grandchildren, I would just close the underemployment offices and hang a sign there that says.Just go find a job! ". gazemo wrote on Aug 11, 2009 9:14 AM:" Kind must be having another listening session in Plover. ". (La Crosse Tribune, WI)
The Conversation: Micro business provides one answer to problem of underemployment Aug 9, 2009
California Credit Union League. Web search powered by YAHOO. (Sacramento Bee -- Opinion)
Would you vote to block Oregons income tax hikes? Aug 9, 2009
Oregonb is a leader all right - in all the wrong ways wrote on Aug 4, 2009 8:36 PM:" Repeal these outrageous tax increases. Businesses are leaving the state by the droves due to its tax structure which now ranks only behind New York City. Our unemployment in this state when figured correctly (not according to Oregon's ruling class of Democrats) now leads the nation in unemployment and underemployment (according to the New York Times who did an independent study state by state). 30 years of the... (Klamath Falls Herald & News, OR)
Payrolls fall less than expected; July unemployment rate drops Aug 8, 2009
Other encouraging signs: The so-called underemployment rate, which includes the unemployed, people working part-time although they want full-time work, and those who stopped looking for work, dipped to 16. 3% from 16. (USA Today -- Money)
Your 10 questions Aug 8, 2009
We also launched the National Action Plan for Employment (2008-2010) to respond to unemployment and underemployment. We also worked towards putting an end to low wages in certain sectors such as security, hospitality, electronics and textile and are using the Wages Council to address sectors with low wages. (The Star Online, Malaysia -- Business)
Inflation threat may mar recovery Jul 31, 2009
Chronic underemployment weighing on the labour market is cited as another risk to the economy's fragile recovery path. Time to buy a house. (Sydney Morning Herald -- Business)
State keeping up with filings despite surge in food stamps Jul 27, 2009
"The economy is the biggest contributor right now -- unemployment and underemployment," Williams said. "People are going from professional level jobs and now doing custodial or semi-professional jobs that don't pay as well.". (Daytona Beach News Journal)
Experts paint a worrisome picture' on jobs Jul 24, 2009
Global Insight economist Brian Bethune has estimated that about 30 percent of the labor force has been affected by unemployment, underemployment, job furloughs or wage freezes or cuts. People working fewer hours may not have the money to keep up with their bills. (Fresno Bee -- Business)
Contexts of terror in Indonesia Jul 22, 2009
Unemployment and underemployment persist. The country's infrastructure badly needs repair. (Asia Times Online)
Bank of America Beats Expectations Jul 18, 2009
1B Revenue - FOXBusiness. Existing users please login. (Fox News)
Young Hit Worst by British Joblessness Jul 18, 2009
"Self employment", which may be disguising underemployment among the "freelancing" professional and managerial classes, is up 55,000. Philip Shaw, UK Economist at Investec commented: "We suspect that the claimant count numbers are being biased down by individuals moving off the count onto government schemes such as the New Deal. While they would still effectively be jobless, on this measure they would no longer be classified as unemployed. Are people really finding jobs? Employment and hours... (BusinessWeek)
READ THE RELEASE: Bank of America pays $713M to U.S. Jul 18, 2009
" "Most importantly, we continue to serve our customers and clients around the world every day, helping them with their accounts, meeting their financial needs and adding new business," Lewis added. Second Quarter 2009 Business Highlights -- Bank of America increased its Tier 1 common capital by nearly $40 billion through multiple actions during the quarter that included issuing shares of common stock, exchanging certain non-government preferred stock for common stock, and asset sales. -- Bank... (USA Today -- Money)
Obama Stimulus Fails to Reboot Economy as Multiplier Effect Shows No Life Jul 17, 2009
A broader measure of underemployment that includes those who want full- time positions but work part-time has almost doubled over the past two years, to 16. 5 percent. (Bloomberg)
ZUCKERMAN: The Economy Is Even Worse Than You Think... Jul 15, 2009
- The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5. 8% of the work force. (The Drudge Report)
Career coaches coming to Nashville Jul 10, 2009
It is aimed at helping adults, especially those without a college degree, break the cycle of unemployment or underemployment by helping them continue their education. The Empowerment Tour is bringing career coaches to town in an RV, and Nashvillians can register for a free coaching session at www. (Nashville Business Journal, TN)
As economy drops jobs, paychecks drop some weight Jul 4, 2009
Including laid-off workers who have given up looking for jobs or have settled for part-time work, the so-called underemployment rate was 16. 5 percent in June the highest on records dating to 1994. (Yahoo News -- Press Releases)
Obama: Job figures sobering; recession slowing Jul 3, 2009
The so-called underemployment rate, which counts those who are working part-time jobs because they can't find a full-time position, as well as discouraged job seekers who have stopped looking for work, rose to a record high 16. 5 percent. (CNN -- US)
The contested rebirth of Joseph Estrada Jul 3, 2009
As the global economic crisis takes a mounting toll on the Philippine economy - including spiking unemployment and underemployment rates of 7. 5% and 18. (Asia Times Online)
Unemployment: 9.5%; Obama says he's 'deeply concerned' Jul 3, 2009
And the so-called underemployment rate which includes the unemployed, people working part time even though they wanted full-time work and those who stopped looking for work ticked up to 16. 5% from 16. (USA Today -- Money)
