The massive, destructive austerity experiment in Britain has provoked its churches to fight back against lies about poverty. A major group of British churches has come together to fight back against six myths about poverty. They aim to change the lies told about poverty and hope to upend the indifference and inaction based upon those lies.
|By: TomThumb Saturday March 9, 2013 12:45 pm|
|By: dakine01 Friday February 1, 2013 3:11 pm|
The January Jobs reports are out and for once, there is a modicum of (somewhat) good news. The Labor Department reported 157K new jobs for January 2013 and significantly revised both November and December 2012 numbers upwards.
|By: DSWright Friday February 1, 2013 9:38 am|
Today’s unemployment report shows America still has a weak economy as it moves towards growth killing austerity cuts by Congress. In January the private sector expanded by 166,000 jobs with government shedding 9,000 jobs for a net gain of 157,000. The official unemployment rate rose to 7.9 percent. Factoring in the loss of middle class wealth during the crisis and the slow growth rate the beleaguered lower classes of American society will be flirting with poverty for the foreseeable future. And that’s without the austerity cuts.
|By: Michelle Chen Sunday January 27, 2013 1:00 pm|
How do you get a job without experience? How do you get experience without a job? And so it goes for millions of people trapped in a dismal cycle of joblessness. New York City took a step to help unemployed workers out of that spiral.
|By: William Black Saturday January 5, 2013 1:59 pm|
I am hosting the Firedoglake discussion of my colleague Randy Wray’s new “Primer” on macroeconomics. Macroeconomics is the study of the overall economy – economic growth, recessions, depressions, inflation, unemployment, and employment are big issues that macroeconomics studies. The key policies it addresses are usually divided into fiscal (tax and spending) and monetary policies (the growth of the money supply and setting interest rates).
The concept of monetary tools has broadened as we have seen the Federal Reserve change what had been a severely constrained “lender of last resort” function of the central bank into the most massive bailout program in history. Similarly, the central bank’s interest rate setting function that was long focused on short-term rates has expanded into large experiments that attempt to lower long-term interest rates (“quantitative easing”).
|By: DSWright Monday December 31, 2012 10:15 am|
The proposal in the works would raise the tax rates on family income over $450,000 to 39.6 percent, the same level as under former President Bill Clinton. Also, estates would be taxed at 40 percent after the first $5 million, up from 35 percent to 40 percent. Unemployment benefits would be extended for one year.
|By: Peterr Saturday December 29, 2012 9:00 am|
All the handwringing over the fiscal cliff has centered on the “job creators” and the “middle class,” but the last time I checked, there was a non-trivial segment of the US population that falls into neither of these categories: the poor.
And yet, the DC chattering class doesn’t notice the difference between these two, nor address the separate needs of these two goups.
|By: Dean Baker Monday December 17, 2012 2:10 pm|
Samuelson warned that the last time the Fed tried to target both inflation and unemployment was in the 1970s and complains that this ended disastrously. Both parts of Samuelson’s claim are wrong.
|By: David Dayen Friday December 7, 2012 6:44 am|
The US economy proved surprisingly resilient in preliminary November job numbers, despite the effects of Hurricane Sandy, posting a gain of 146,000 jobs, and a drop in the topline unemployment rate to 7.7%. However, because of Sandy we should expect substantial revision to the numbers.
The Bureau of Labor Statistics claims that their survey response rates in the states affected by Sandy were “within normal ranges,” and that the storm “did not substantively impact the national employment and unemployment estimates for November.” This is hard to believe, especially because first-time jobless claims did show a spike from the storm.
|By: David Dayen Wednesday November 28, 2012 12:10 pm|
Student debt was a prime motivator for the Occupy movement. Some real oversight in higher education costs would go a long way toward driving that problem back down. But the easy accessibility to lending should raise concerns as well.