EveryJoe » unemployment

Jobless Benefits and Home Credit Renewed

Miranda Marquit — Sat, 07 Nov 2009 15:38:40 +0000

Yesterday’s distressing unemployment data sent the national unemployment rate above 10%. This came as President Obama prepared to sign into law a bill providing an extension of jobless benefits. The bill is a relatively small measure, by recent economic stimulus standards, at $24 billion. The bill will extend the eligibility to collect unemployment benefits by 14 weeks. In states with higher unemployment rates (of more than 8.5%), there is a 20 week extension.

But it’s not just the jobless benefits that have seen an extension. The bill is also extending the first time home buyer tax credit along the lines negotiated at the end of last week. The $8,000 credit for first time home buyers will be extended until the end of April, and there is an expansion to provide $6,500 for current home owners who are looking to buy.

On top of both of these sought after measures, the bill includes tax cuts for businesses that are struggling. This should help some businesses stay afloat until more substantial recovery can be seen in the economy.

Post from: EveryJoe

Jobless Benefits and Home Credit Renewed

U.S. Unemployment at 10.2%

Miranda Marquit — Fri, 06 Nov 2009 15:29:01 +0000

In a rather dour Friday morning surprise, the U.S. unemployment rate hit 10.2%. There have been predictions for months that the unemployment rate would exceed 10%, but as the economy started showing signs of life, hope was emerging along the lines of thinking that maybe that psychologically important level could be avoided. This morning’s non-farms payroll data destroyed all such thoughts.

However, even though the news sent stocks a little lower initially, they are inching up, desperate to remain in the black, even with the news. Even though the unemployment rate is higher, job loss is moving at a slower pace, and there are fewer lost jobs last month than the month before. However, the fact that 190,000 jobs were lost in October was still higher than the 150,000 expected.

This means that the Fed is looking justified in its comments earlier this week that the economy still needs some help, and that interest rate hikes — and an end to quantitative easing — won’t come until sometime next year. And if things don’t pick up in the labor market soon, it may be 2011 before we can start serious talking about interest rate increases.

Image source: Daylife

Post from: EveryJoe

U.S. Unemployment at 10.2%

Need a job? Ask a small business

ShannonCherry — Mon, 20 Oct 2008 20:30:23 +0000

If you are looking for a job, the best place to look isn’t the big corporations, who are laying of thousands.

It’s small businesses and startups. That’s according to a recent poll by SurePayroll, small businesses are hiring.

But don’t hold your breath for all the perks that big companies have.According to the same survey, salaries are declining, as well as bonus perks. Salaries declined by .51%, the largest one-month drop in the national average small-business salary since the study began in 2004. The average annualized small-business salary for a U.S. employee now stands at $32,182.

But hey. It’s better than no job at all!

Post from: EveryJoe

Need a job? Ask a small business