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+14 +3
An Economist Who Called the 2008 Crash Says We’re In for a Long Depression
In September 2006, Nouriel Roubini told the International Monetary Fund what it didn’t want to hear. Standing before an audience of economists at the organization’s headquarters, the New York University professor warned that the U.S. housing market would soon collapse — and, quite possibly, bring the global financial system down with it.
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+14 +2
A 'perfect storm' for chaos: Unemployment system's failures were a long time coming
Delays in unemployment benefits also indirectly affect other In New Jersey, a 60-year-old programming language became the scapegoat for years of neglect after the state's unemployment website struggled to handle the flood of unemployment claims spurred by coronavirus lockdowns.
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+2 +1
“Suspiciously stable”: How China’s unemployment rate is calculated
The most politically sensitive number in China right now arguably isn’t its coronavirus case count, but its unemployment rate. In a sign of just how much of a hot potato job numbers are for the Communist Party, a Chinese brokerage firm was last month forced to retract an analyst report that estimated the country’s unemployment rate at over 20%—multiple times higher than the official count.
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+15 +1
Opinion | Franklin Roosevelt Put Young People Back to Work. Let’s Do It Again.
Nearly 7.7 million American workers younger than 30 are now unemployed and three million dropped out of the labor force in the past month. Combined that’s nearly one in three young workers, by far the highest rate since the country started tracking unemployment by age in 1948. Nearly 40 percent worked in the devastated retail and food service sectors.
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+16 +2
El-Erian: Worst recession since Great Depression ahead, 2009 will look like a flesh wound
Another 3.84 million Americans filed for unemployment benefits last week. The report comes on the heels of worse-than-expected GDP data for the first quarter. Allianz Chief Economic Adviser Mohamed El-Erian joins Yahoo Finance’s On The Move panel to weigh in on why he says there is more pain to come and how the U.S. can avoid the mistakes of the last recession.
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+14 +4
Ohio Has Stopped Kicking Workers Off Unemployment After A Hacker Targeted Its Website
The state is reconsidering its policy after a hacker released a script that automatically submits junk data to its 'COVID-19 fraud' website, which allows employers to report workers who refuse to work during the pandemic.
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+14 +2
Coronavirus recession deepens U.S. job losses in April especially among low-wage workers and women
The Bureau of Labor Statistics April Jobs Day report provides new data on the speed with which the coronavirus recession is impacting the labor market.
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+4 +1
Ohio urges employers to report workers fearful of returning to work
The state is reopening non-essential businesses and workers wary of employers’ safety measures could lose unemployment benefits
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+17 +2
US weekly jobless claims total 3.169 million, bringing seven-week tally to 33.5 million
Unemployment rolls continued to swell in the U.S. last week, though jobless claims hit their lowest level since the economy went into lockdown made to battle the coronavirus pandemic.
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+12 +2
1 in 5 American workers has filed for unemployment benefits since mid-March
No end is in sight for coronavirus-related job losses. The pandemic has ravaged the US labor market, and 1 in 5 American workers have now filed for first-time unemployment benefits since mid-March, when lockdown measures took effect across the country.
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+9 +1
Coronavirus-driven unemployment claims surpass 30 million
Americans filed 3.8 million new jobless claims last week, the Labor Department reported Thursday, pushing the six-week claims tally to 30.3 million as the coronavirus pandemic battered the economy.
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+21 +2
Jobs may not come totally back for years, all depending on how small businesses weather this storm
Barry O’Donovan opened his Irish pub across from a railroad station used by Wall Street commuters just five days before Lehman failed. His business survived the Great Recession. Then in August, 2011, Hurricane Irene swept the nearby Rahway River straight through his Cranford, N.J. restaurant. Again, his Kilkenny House survived, thanks in part to a $200,000 Small Business Administration Loan. He continues to pay it off.
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+26 +3
US weekly jobless claims double to 6.6 million
The torrent of Americans filing for unemployment insurance skyrocketed last week as more than 6.6 million new claims were filed, the Labor Department reported Thursday. That brings to 10 million the total Americans who filed over the past two weeks. Economists surveyed by Dow Jones had expected 3.1 million for last week, one week after 3.3 million filings in the first wave of what has been a record-shattering swelling of the jobless ranks. The previous week’s total was revised higher by 24,000.
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+3 +1
Enjoy The Extra Day Off! More Bosses Give 4-Day Workweek A Try
The notion of a shorter workweek might sound crazy to overworked Americans, but around the world, companies and even governments are starting to embrace it. The key is fewer meetings and distractions.
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+23 +4
Gig economy traps workers in precarious existence, says report
Doteveryone thinktank says workers suffer from financial insecurity and loss of dignity
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+18 +3
Why the US is one of only a few countries with no paid time off
If Araceli Torres worked anywhere in the European Union, she’d be guaranteed four weeks of paid vacation every year by law, the standard set in 1993, plus another eight to 10 paid holidays. If she worked in Brazil, Libya, Turkmenistan, or Oman, the law would allow her 30 days of paid vacation. In her home country of Mexico, she’d be entitled to six.
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+20 +3
US economy grew at a moderate 2.1% annual rate in the third quarter
The U.S. economy grew at a moderate 2.1% rate over the summer, slightly faster than first estimated. But many economists say they think growth is slowing sharply in the current quarter. The Commerce Department says the July-September growth rate in the gross domestic product, the economy’s total output of goods and services slightly exceeded its initial estimate of a 1.9% rate.
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+3 +1
How to find your passion and make it your career
The path to finding a career you love is rarely a straight line. Your core values probably won’t change much over your adult lifetime, but your interests might, and your skills certainly will. So when someone tells you to “follow your passion,” the advice isn’t inherently wrong. It’s simply incomplete.
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+14 +2
US adds 136,000 jobs; unemployment hits 50-year low of 3.5%
The economy added a modest 136,000 jobs, enough to likely ease worries that an economy weakened by the U.S.-China trade war and tepid global growth might be edging toward a potential recession. The government on Friday also revised up its estimate of job growth in July and August by a combined 45,000.
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+20 +3
A Shit Job for One Is a Shit Job for All
Last week’s passage of a bill in the California state legislature ending the rampant misclassification of workers as independent contractors was a huge win. The bill was animated by the spirit of unions fighting for the entire working class — the exact principle that should animate all unions.
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