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Unemployment

The Takeaway

This Week's Agenda: Euro Zone, Jobs, 7 Billion People

Monday, October 31, 2011

The markets responded positively to the news last week of a euro zone deal to try and turn around their two-year financial crisis. Marcus Mabry, editor-at-large of the International Herald Tribune, which is the international edition of The New York Times, tells us how he expects the markets to continue to go this week and to be on the lookout at Italy, which could be the next euro zone country to be in financial trouble. Charlie Herman, business and economics editor for WNYC and The Takeaway, looks at the upcoming G20 Summit in France this week, and if they can come up with a framework to deal with Europe's economic troubles.

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The Takeaway

Nobel Laureate Michael Spence: Global Recession Has a 50/50 Chance

Monday, October 24, 2011

With unemployment holding steadily at 9 percent and little sign of an upturn, it is hardly surprising that most Americans have a negative outlook on the state of the economy. According to a recent Associated Press poll, more than 7 in 10 Americans believe the country is heading in the wrong direction. Less than 40 percent of respondents feel that President Obama's jobs proposals will significantly raise the unemployment level from its current level.

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The Takeaway

Solving Black Unemployment in America

Monday, October 17, 2011

The national unemployment level continues to hover around 9 percent. But among African-Americans, that number shoots up to about 16 percent. On Friday’s program The Takeaway spoke with Robert Johnson, founder of BET and CEO or RLJ Companies. Johnson, who was the first African-American to become a billionaire, has a new idea for how to get black Americans out of poverty.

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The Takeaway

BET Founder Robert Johnson on Black Unemployment

Friday, October 14, 2011

The financial crisis has hit just about every corner of the economy but it has been disproportionately harmful to African-Americans. The unemployment rate among black Americans stands at 16 percent. That's nearly 7 percentage points higher than the unemployment rate of the population as a whole.

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The Takeaway

Jobless Rate Remains at 9.1 Percent

Friday, October 07, 2011

Employers added 103,000 jobs in September, keeping the unemployment rate at 9.1 percent. Employers have added an average of only 72,000 jobs in the last five months. The economy must create twice as many in order to keep up with population growth. The figures rebuff grim warnings from economists in recent weeks that the U.S. is headed for a double-dip recession. Many economist continue to be concerned over the growing European sovereign debt crisis, which President Obama said in a press conference on Thursday "could have a very real effect on our economy at a time when it's already fragile."

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The Takeaway

Jeffrey Sachs on Moral Causes to America's Fiscal Problems

Friday, October 07, 2011

Economist Jeffrey Sachs has a new book, "The Price of Civilization: Reawakening American Virtue and Prosperity," and the heart of it is a single argument: all of the nation’s current economic, political and productive woes share a similar root cause: that America’s financial and political leaders are failing to take the moral steps necessary to restrain a society of markets, and policies run amok, and that we need to become a "mindful society."

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WNYC News

Economy Adds Jobs, But Unemployment Rate Stays 9.1 Percent

Friday, October 07, 2011

As President Barack Obama pushes Congress to approve his jobs bill, the latest jobs report out Friday shows 103,000 jobs were created in September — better than most economists and analysts had forecast.

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Transportation Nation

Obama on Infrastructure Repair: "Why Would You Vote Against That?"

Thursday, October 06, 2011

 President Barack Obama during a news conference in the East Room of the White House (photo by Alex Wong/Getty Images)

President Obama, who's trying to line up support for his jobs bill, used his press conference today to once again invoke crumbling infrastructure and unemployed construction workers.

His remarks were in the same vein as the speech he delivered last month in front of an "obsolete" bridge. Here are some highlights:

"In Maine, there is a bridge that is in such bad shape that pieces of it were literally falling off the other day.  And, meanwhile, we’ve got millions of laid-off construction workers who could right now be busy rebuilding roads, rebuilding bridges, rebluiding schools.  This jobs bill gives them a chance to get back to work rebuilding America.  Why wouldn’t we want that to happen?  Why would you vote against that?"

He went on to chastise Republicans: "My understanding is that for the last decade, they’ve been saying we need to lower taxes for folks.  Well, why wouldn’t we want to do that through this jobs bill?  We know that we’ve got roads and bridges and schools that need to be rebuilt.  And historically, Republicans haven’t been opposed to rebuilding roads and bridges.  Why would you be opposed now?"

But he admitted that the challenges facing the country and its aging infrastructure won't be solved overnight, even if the Senate passes the American Jobs Act.

"I mean, what’s contained in the American jobs bill doesn’t cover all the roads and bridges and infrastructure that needs to be improved around the country.

You can read the full transcript of the president's remarks here.

 

 

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The Takeaway

Despite High Unemployment, Americans Don't Want Farm Jobs

Wednesday, October 05, 2011

Though nearly one out of every 11 people across the country is out of work, on industry is facing a labor shortage. Some farmers in the western U.S. who have traditionally relied on migrant workers are now offering the same jobs to Americans — $10 an hour for pulling in the fall harvest. John Harold is one of those farmers. Instead of hiring migrant workers this year, he left openings for local, jobless Americans, something he considers a mistake. Americans, he says, proved to be less reliable and less willing to perform the hard work necessary to run his corn and onion farm than foreign workers.

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The Takeaway

Cantor Says House Will Not Vote on Obama Jobs Bill

Tuesday, October 04, 2011

House Majority Leader Eric Cantor (R-VA) declared President Obama's jobs bill dead on arrival on Monday. Cantor said the House would consider elements of the bill, but refused to consider the entire $447 billion package. Todd Zwillich, The Takeaway's Washington correspondent, talks about the latest episode of political theater on Capitol Hill.

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The Takeaway

This Week's Agenda: Wall Street Protests, Jobs Bill, Ben Bernanke

Monday, October 03, 2011

The New York police department arrested over 700 Occupy Wall Street protesters Saturday, for allegedly walking across the Brooklyn Bridge's roadway, instead of using the pedestrian path. Now in its third week, the movement has spread to other cities around the nation. Meanwhile, Fed Chairman Ben Bernanke is scheduled to testify before Congress tomorrow on the economic outlook for the country, and unemployment figures are set to be released Friday, as President Obama continues to push his jobs bill. And Nevada has moved its caucus date back, ahead of Florida's, which will likely affect the race for the Republican nomination.

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The Takeaway

Unemployment Rates Fall in the Rust Belt, Rise in the Sun Belt

Tuesday, September 27, 2011

The recession officially ended in June of 2009, but the country is still reeling from a 9.1 percent unemployment rate. Certain areas of the country have seen a gradual recovery, while others continue to struggle or are actually losing jobs. The Rust Belt, which struggled with unemployment before the economic collapse, has seen unemployment dropping. Conversely, the South was prosperous before the recession, with some of the lowest unemployment rates in the country, but now six southern states have the highest unemployment rates in the country.

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The Takeaway

Fed Invests in the Treasury While Moody's Downgrades Banks

Thursday, September 22, 2011

Two major announcements hit Wall Street and Washington on Wednesday. The Federal Reserve unveiled its plan to invest $400 billion in Treasury securities in an effort to boost the economy, and Moody's downgraded the ratings of Bank of America, Citigroup, and Wells Fargo. How is all of this going to affect consumers and businesses? And how is divided Washington going to react?

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The Takeaway

BofA to Lay Off 30,000 Employees; Moody's Downgrades 2 French Banks

Wednesday, September 14, 2011

Bank of America confirmed on Monday that it plans to cut at least 30,000 jobs from the company, and eliminate $5 billion in costs annually by 2014. The banking behemoth currently employs 288,000 people. The first group of employees to be eliminated will be those working in consumer banking operations, and home loans, technology and support operations. 

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It's A Free Country ®

Bad News Roundup: Poverty Rises, Income Drops, Super Committee Meets

Tuesday, September 13, 2011

A new report from the U.S. Census Bureau shows the number of Americans living in poverty at an all-time high and the median income dropping—just in time for a deficit reduction super committee hearing this morning.

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It's A Free Blog

Opinion: Obama's Smart Bet on Immediate Job Action Over Rhetoric

Friday, September 09, 2011

The president made one irrefutable point last night. We can stake out sharply contrasting positions and let the electorate decide at the ballot box. But that will only ensure 14 months of no relief for working families and the unemployed.

-Justin Krebs, It's A Free Country blogger.

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The Takeaway

Did the President's Address Do Enough to Impress Voters?

Friday, September 09, 2011

President Obama's address last night was seen by many as a crucial political moment — a chance for him to reinvigorate support for his strategy on the economy and job creation. Obama's approval rating has been at an all-time low, so the stakes were high. He needed to reach the electorate and instill confidence in voters. How well did he do? This is the question we’re discussing with constituents from around the country.

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The Takeaway

Answering Listener Questions About Obama's Jobs Speech

Friday, September 09, 2011

President Barack Obama addressed a joint session of Congress and television viewers across the country last night, presenting a $447 billion package of tax cuts and new government spending meant to increase jobs in America. Obama urged Congress to "pass this jobs plan right away." We asked our listeners to submit questions they have about the jobs plan, and the likelihood that it will pass.

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The Takeaway

America's Unemployed Advise on President's Jobs Plan

Thursday, September 08, 2011

Later this evening, President Obama will deliver a speech detailing a jobs program that could cost as much as $300 billion. Obama will give the speech before a joint sessions of Congress, and it will also be broadcast to millions of Americans who are facing record unemployment rates. For their insight, we're speaking with three Takeaway listeners who are uniquely affected by the president’s plan.

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The Takeaway

Mitt Romney's 59-Point Economic Plan

Wednesday, September 07, 2011

In advance of tomorrow night's Republican presidential debate — the second for GOP candidates hoping to run in the 2012 election, and first for Texas Gov. Rick Perry — former Massachusetts governor Mitt Romney unveiled a plan to boost economic growth, in a speech yesterday in Las Vegas, Nevada. It hasn't seemed to boost his standing yet — a new poll shows Perry in the lead over Romney and other GOP candidates.

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