Photo credit: @julesdwit.
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Heidi Moore, New York bureau chief and Wall Street correspondent for Marketplace, discusses the Euro Zone crisis from Wall Street's point of view and the latest unemployment numbers out today.
The unemployment rate seems to reflect the competition for jobs. So the fact that the rate dropped means one's chances of finding a job has increased.
Just to let you know, I have been out of work for over 1 year, I have NOT given up and never will. I like to work; I need to work. But like I heard on NPR news this morning about the 59 year old exec can’t even find the lowest level jobs. The jobs are not out here. Where are the jobs? I have MS degree in Technology with 30 years of experience in the subject matter. I have looked high and low web sites and all; send in my resume to scores of companies with only two companies’ callback; one from NJ and one in the Midwest but none positive. These job numbers (and the market reacting to them) are so bogus it’s a crime. I think most people (like me) want to work and not collect unemployment, but utile the jobs come back to the US, there is NO light at the end of the tunnel.
I wonder what percent of the unemployed are working under the table?
Is Capitalism Working? Market capitalism is the dominant economic system worldwide. Some facts [from the World Bank] as of Sept 20, 2010, more than 3 billion people live on $2.50 or less a day. At least 80% of humanity lives on less than $10 a day. The poorest 40% of the world’s population accounts for 5% of global income. The richest 20% accounts for three-quarters of world income. . In light of the worldwide economic 'recession' since 2008, the European debt crisis, it is hard to insist that capitalism is working well for the majority of people. And yet the media will not ask the whether the system is working despite the facts cited above and the ongoing crises. Will the Brian Lehrer Show ask the question?
fire Hillary! she is pushing all these fictitious wars. We can use the same money on universal healthcare and jobs.
@stuart from brooklyn
Capital gains taxes are on business income, regardless of whether it's paid out in dividends or reinvested.
Also, my uncle was offered a chance to be a partner in opening a local restaurant. He's not sure he'll have the discretionary income to afford the investment, given the Obama admin's desire to raise his taxes. (he earns over 200K).
He's also looking at the humongous increase in federal regs under Obama. EPA especially. And the increase in healthcare costs under obamacare. This is why there is no investment, and why there are consequently no jobs
For household data on the underemployment and not in the labor force:
Why is the Fed printing money to bail out the euro (therby impoverishing American savers even further), while the ECB refuses to print money because they want to save Europe from inflation?
You tax a rich man, he removes your campaign money and you lose your (1) job, so you're not lying at all, Mr. Republican politician.
To follow up on my phone call, where are the statistics on freelancers & underemployment available? What's the terminology that's used for them?
Will somebody please challenge this (republican) idea that by taxing the richest americans we are penalizing employers. Rich individuals are taxed on the money they take out of a business. Increasing their tax rate might encourage them to leave money in, reinvest, and create more jobs for working americans.
H do you remember the Tea party...
Thank you, Brian, for starting off this segment this way. From the January 1994
"Bureau of Labor Statistics report:Discouraged Workers (Household Survey Data)" January 1994"The household survey redesign included a major change in the definition of discouraged workers. Two requirements were added: To be classified as discouraged, one must have searched for work during the prior year and be explicitly reported as currently available for work. Using this new definition, the number of discouraged workers was 600,000 in January, on a not seasonally adjusted basis. Under the former, less restrictive definition, the number of discouraged workers had held steady at about 1.1 million (seasonally adjusted) for over 2 years."
your guest reminds me of the anti israel Left who use the moral equivalence term "cycle of violence".
In fact, Republicans offered to raise taxes. Democrats were obstinate.
Marc A. ThiessenOpinion Writer The supercommittee's 13th member: Occupy Wall StreetBy Marc A. Thiessen, Published: November 28
Sen. John Kerry recently declared that Grover Norquist, author of the GOP anti-tax pledge, was "the 13th member of our [super] committee" whose supposedly magical hold on Republicans killed any chance of a bipartisan debt-reduction compromise. Kerry is right that there was a mysterious 13th member at the table who caused the supercommittee to fail. But it wasn't Norquist. It was Occupy Wall Street.
Norquist's pledge demands that Republicans oppose any and all tax increases. Occupy Wall Street demands that Democrats impose massive tax increases on the wealthiest 1 percent of the country. So which of these competing demands held sway in the supercommittee's deliberations?
I still do not understand --
Why is there any deficit spending?
If you as an individual, or a country, spend more then you make, you accumulate debt, which has to be paid in the future. Why would you be more able to pay in the future than now?
WHY IS SOMETHING BETTER THAN NOTHING?????????
What we see in Europe is governments using deficits to bribe voters to vote for them.
How are we different??????
Paul Krugman's solution? CANCEL DEBT WITH INFLATION!!!!
DOES ANYONE REMEMBER GERMAN HYPER INFLATION??????????????????????????????????????????
Big corporations are sitting on high levels of cash. Why can't we incentivize them to use this cash on short term contract hiring? Maybe, no payroll tax and further tax breaks?
What happens when our troops return from the Mid East?
Isn't the latest unemployment rate of 8.6% also influenced by holiday jobs which will end next month??
And remember that freelancers like me whose work has dried up are never counted in the unemployment rates.
What exactly does "no longer looking for work" entail? Does it just mean someone has run out of unemployment? How do we know they've stopped looking? I've been unemployed and I don't understand how someone could simply stop looking for a job, there are always new ones opening up, even if they're hard to get. So what are these people doing? How are they getting by?
It is striking that the number of workers who have given up looking for work is only reported when the unemployment rate goes down--as part of the explanation. That may be accurate, but those people exist even when the unemployment rate is stable or goes up. But they are considered invisible.
It would be extremely useful for the understanding and context of this situation if that number would be reported not only for the present reports but the historical numbers--what was this number 10 years ago? during the "boom" 1990s? Americans' employment situation cannot be fully understood without this number, and it is bizarre that it is not included in the "official" unemployment rate.
"China's economic model is superior to that of the US'"
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