Unemployment Insurance To Be Extended, $30 Billion Cost Won’t Be Offset

Unemployment Insurance To Be Extended, $30 Billion Cost Won’t Be Offset

Posted: 12/31/2012 3:32 pm EST  |  Updated: 12/31/2012 3:44 pm EST

 Unemployment Insurance Extended

WASHINGTON — One of the remaining sticking points holding up a fiscal cliff deal appears to have been resolved, as negotiators have decided to extend unemployment benefits without offsetting the cost.

A source familiar with negotiations told The Huffington Post that lawmakers would treat the provision as “an emergency measure that shouldn’t be paid for.” A Senate Democratic and Republican source each confirmed the plan. Continue reading “Unemployment Insurance To Be Extended, $30 Billion Cost Won’t Be Offset”

Jobless rate drops to 7.8 percent; economy adds 114,000 jobs

 

By Vicki Needham – 10/05/12 10:28 AM ET

The unemployment rate dipped below 8 percent in September, to 7.8 percent, shaking up estimations of the presidential race and providing welcome news for President Obama just a month before Election Day.

The economy added only 114,00 jobs, yet the unemployment rate still dropped from 8.1 percent to 7.8.

Total employment rose by 873,000 in September, a significant jump that could help explain the drop in the unemployment rate.

The report revised figures up in July and August, and it showed more people are now entering the workforce. This is also the first report to be released since the Bureau of Labor Statistics announced it had undercounted employment for the previous year by 386,000. Continue reading “Jobless rate drops to 7.8 percent; economy adds 114,000 jobs”

Jobless Rate Declines from 8.3% to 8.1%, 96,000 Jobs Added in August

 

09/07/2012; Tula Connell

The unemployment rate declined from 8.3 percent in July to 8.1 percent in August, with 96,000 jobs added last month, according to data out this morning from the U.S. Bureau of Labor Statistics.

The improvement in the unemployment rate was due to workers dropping out of the labor force, not to an increase in employed workers, according to the Economic Policy Institute (EPI).

Jobless rates for adult men stood at 7.6 percent; adult women, 7.3 percent; teenagers, 24.6 percent; white workers, 7.2 percent; African American workers, 14.1 percent; and Hispanics, 10.2 percent—all of these showed little or no change in August. Continue reading “Jobless Rate Declines from 8.3% to 8.1%, 96,000 Jobs Added in August”

Economy adds 96K jobs, unemployment rate falls to 8.1 percent

By Vicki Needham – 09/07/12 08:31 AM ET

The economy added 96,000 jobs in August, falling well short of expectations and dealing a blow to President Obama as he heads out Friday on a three-state campaign swing.

The figure is a buzz kill for Democrats after a rousing week at their party convention and shows the labor market is still struggling as the economy goes through another summer slowdown.

The unemployment rate fell to 8.1 percent from 8.3 percent, according to the Bureau for Labor Statistics.  Continue reading “Economy adds 96K jobs, unemployment rate falls to 8.1 percent”