Tag: Jobs

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The Unemployment Puzzle: Where Have All the Workers Gone?

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The Unemployment Puzzle: Where Have All the Workers Gone?

The U.S. unemployment rate is down, but rising numbers of Americans have dropped out of the labor force entirely

A big puzzle looms over the U.S. economy: Friday’s jobs report tells us that the unemployment rate has fallen to 6.7% from a peak of 10% at the height of the Great Recession. But at the same time, only 63.2% of Americans 16 or older are participating in the labor force, which, while up a bit in March, is down substantially since 2000. As recently as the late 1990s, the U.S. was a nation in which employment, job creation and labor force participation went hand in hand. That is no longer the case.

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What’s going on? Think of the labor market as a spring bash you’ve been throwing with great success for many years. You’ve sent out the invitations again, but this time the response is much less enthusiastic than at the same point in previous years.

One possibility is that you just need to beat the bushes more, using reminders of past fun as “stimulus” to get people’s attention. Another possibility is that interest has shifted away from your big party to other activities.

Economists are sorting out which of these scenarios best explains the slack numbers on labor-force participation—and offers the best hope of reversing them. Is the problem cyclical, so that, if we push for faster growth, workers will come back, as they have in the past with upturns in the business cycle? Or do deeper structural problems in the economy have to be fixed before we can expect any real progress? To the extent that problems are related to retirement or work disincentives that are either hard to change or created by policy, familiar monetary or fiscal policies may have little effect—a point getting too little attention in Washington.

https://online.wsj.com/news/articles/SB10001424052702304441304579477341062142388?mod=WSJ_hppMIDDLENexttoWhatsNewsSecond&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304441304579477341062142388.html%3Fmod%3DWSJ_hppMIDDLENexttoWhatsNewsSecond

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‘Fragile’ Port Newark/Elizabeth weighs on N.J. economy

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‘Fragile’ Port Newark/Elizabeth weighs on N.J. economy

MARCH 27, 2014    LAST UPDATED: THURSDAY, MARCH 27, 2014, 12:28 AM
BY CHRISTOPHER MAAG
STAFF WRITER
THE RECORD

When the movement of cargo through the shipping terminals in Port Newark/Elizabeth seized up this winter, causing long truck lines that nearly spilled onto the New Jersey Turnpike, people at the port started pointing fingers. Truckers said the longshoremen were lazy. Longshoremen accused the truckers of being disorganized.

And everyone blamed the weather. This past winter’s snowfall “is the root cause of the delays,” said John Nardi, president of the New York Shipping Association.

But a closer look shows that crises at Port Newark/Elizabeth, often called simply Port Newark, are increasingly common and stem from a complex mix of factors, including manpower problems, antiquated procedures and turf battles. The port has closed or nearly closed four times in the last 15 months, twice when the weather was not in play.

“This port is fragile,” said Rick Larrabee, director of port commerce for the Port Authority.

– See more at: https://www.northjersey.com/news/fragile-port-newark-elizabeth-weighs-on-n-j-economy-1.751687#sthash.nh78g5FO.dpuf

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NJ to Veterans: go find work somewhere else

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NJ to Veterans: go find work somewhere else

New Jersey’s veterans had an unemployment rate of 10.8 percent in 2013, the highest of all 50 states, according to new data released last week by the U.S. Department of Labor. (https://www.bls.gov/news.release/pdf/vet.pdf)

New Jersey’s 10.8 percent veterans’ unemployment rate is a significant increase from 2012’s rate of 10 percent and far higher than the national rate of 6.6 percent, and much higher than the rates in neighboring states like Pennsylvania (7.7 percent) and New York (8.2 percent). It is also a much higher rate than New Jersey’s 2013 unemployment rate for non-veterans (7.8 percent).

“New Jersey is in the unenviable position of adding another ‘first in the nation’ milestone: first in foreclosures, first in its percentage of jobless out of work for more than six months, and, now, first in the rate of unemployed veterans,” said Gordon MacInnes, president of New Jersey Policy Perspective. “This should be enough to halt the administration’s boastful claims that its singular focus on tax cuts and incentives for large corporations is working for the rest of us.” (PolitickerNJ)

NJ to veterans: go find work somewhere else | Politicker NJ

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NJ CRONY CAPITALISTS PUT THE BRAKES ON TESLA

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NJ CRONY CAPITALISTS PUT THE BRAKES ON TESLA
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New Jersey: The Latest State to Quash Tesla Sales

March 12, 2014 at 11:20:00 AM by Andrew Moseman
https://www.popularmechanics.com/cars/news/auto-blog/new-jersey-the-latest-state-to-try-to-stop-tesla-sales-16585709?click=pm_lates

Today, it’s New Jersey that wants to ban auto manufacturers from selling cars directly to consumers, a move that appears aimed at Tesla and its no-dealership model.

The last time we reported from the Tesla wars, it was Ohio that was considering the same type of ban, with the statehouse under pressure from influential local dealerships to quash Tesla’s way of doing business. This week, while Tesla reps are in the Buckeye State working out a compromise, the New Jersey Motor Vehicle Commission is threatening to cut off the EV maker.

A spokesperson for New Jersey Governor Chris Christie told Bloomberg:

“Since Tesla first began operating in New Jersey one year ago, it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law. This administration does not find it appropriate to unilaterally change the way cars are sold in New Jersey without legislation and Tesla has been aware of this position since the beginning.”

Tesla’s response:

That’s exactly what we were doing, New Jersey. Elon Musk’s company responded with a blog post today saying that it was happy to work out a solution in the New Jersey legislature, but that Christie “has gone back on its word to delay a proposed anti-Tesla regulation so that the matter could be handled through a fair process in the Legislature.”

If you haven’t been following Tesla’s state-by-state legal maneuverings, the crux of the matter is that the company doesn’t want to sell its EVs through a locally owned dealership, the way you’d buy a Ford, Chevy, or just about any other new car. But those local dealerships have every incentive in the world to stop direct-to-consumer sales from spreading, which is why they’re flexing so much political muscle over a relatively tiny number of cars that Tesla sells. So far only Texas and Arizona have laws on the books to stop Tesla’s method, but several others have discussed it. New Jersey’s new rules would go into effect April 1.

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Job Seekers Swarm Marijuana Job Fair As Colorado’s Green Rush Continues

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Job Seekers Swarm Marijuana Job Fair As Colorado’s Green Rush Continues
March 14, 2014 9:37 AM

DENVER (CBS4) – If there was any doubt that the “green rush” is on in Colorado, the scene outside a marijuana industry career fair in Denver on Thursday looked like a throwback to the Great Recession.

Thousands of people waited for hours with resumes in hand in a line that stretched several blocks. TheO.penVAPE Cannabis Job Fair featured 15 different businesses associated with recreational marijuana sales, and it had turn people away by the day’s end.

St. Louis resident Shannon Irvin has been jobless for several months. He drove to Colorado for the fair with hopes of breaking into the state’s budding industry and wound up waiting in line for 2 hours.

https://denver.cbslocal.com/2014/03/14/job-seekers-swarm-marijuana-job-fair-as-colorados-green-rush-continues/

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Data shows millions of Americans falling out of the workforce

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Data shows millions of Americans falling out of the workforce

The number of native-born, working-age Americans who aren’t working has shot up by almost 9 million since 2007, and by almost 15 million since 2000, according to a new report by the Center for Immigration Studies, a group that favors reduced immigration.

By late 2012, roughly 50 million native-born working-age Americans weren’t working, up from 40 million in 2000, according to the March 13 report, titled “Still No Evidence of a Labor Shortage.”

The army of idle Americans is important for the immigration debate, because advocates for greater immigration say foreign workers are needed to fill slots that can’t be taken by Americans.

Read more: https://dailycaller.com/2014/03/13/data-shows-millions-of-americans-falling-out-of-the-workforce/#ixzz2vy0WdY2Y

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Tesla Stores May Be Closed After N.J. Blocks Direct Sales

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Tesla Stores May Be Closed After N.J. Blocks Direct Sales

Governor Chris Christie’s administration blocked Tesla Motors Inc. (TSLA), the electric-car maker that doesn’t have franchised retail dealers, from direct auto sales in a move the company said could shutter its only two stores in New Jersey.

The New Jersey Motor Vehicle Commission, which includes members of Christie’s cabinet, unanimously approved the proposal yesterday in Trenton, delaying public comment on the matter until after the hearing. Tesla said it learned only a day earlier, after months of negotiations, that the rule change was coming to the most densely populated U.S. state, which is important for reaching customers in the New York metro area.

Christie “has gone back on his word,” Tesla Chief Executive Officer Elon Musk said on Twitter prior to the vote. “His administration, under pressure from auto dealers, may shut down Tesla in NJ as soon as today.”

Tesla is battling dealers state by state to secure or protect the right to sell its cars directly to consumers. Auto dealers in Ohio, New York, Minnesota,Georgia and elsewhere in the past year have sought to block Tesla from directly retailing its models, arguing that independent retailers are better for shoppers and owners of vehicles. Texas dealers successfully backed a law setting the nation’s toughest restrictions on Tesla. Arizona, Colorado andVirginia also imposed limits. (Ohnsman and Dopp/Bloomberg)

https://www.bloomberg.com/news/2014-03-11/tesla-stores-may-be-closed-after-n-j-blocks-direct-sales.html

 

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Labor Force Participation Hits Record Low for Americans in Their 20s

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Labor Force Participation Hits Record Low for Americans in Their 20s
March 11, 2014 – 11:09 AM
By Ali Meyer

(CNSNews.com) – The labor force participation rate in 2013 for Americans in their twenties hit the lowest level recorded since 1981, when the Bureau of Labor Statistics started releasing employment data on people in the full age bracket of 20 through 29.

The labor force participation rate for people ages 20 through 24—which BLS has been tracking since 1948—hit a 42-year low in 2013.

Since 2008, the last year before President Barack Obama took office, the number of Americans in their twenties who were not in the labor force during the average month has climbed from 8,756,000 to 10,511,000—an increase of 1,755,000 or 20 percent.

– See more at: https://www.cnsnews.com/news/article/ali-meyer/labor-force-participation-hits-record-low-americans-their-20s#sthash.HnTO2vDq.dpuf

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Union: Obamacare will slash wages by up to $5 an hour

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Union: Obamacare will slash wages by up to $5 an hour

By Paul Bedard | MARCH 9, 2014 AT 11:15 AM

A national union that represents 300,000 low-wage hospitality workers charges in a new report that Obamacare will slam wages, cut hours, limit access to health insurance and worsen the very “income equality” President Obama says he is campaigning to fix.

Unite Here warned that due to Obamacare’s much higher costs for health insurance than what union workers currently pay, the result will be a pay cut of up to $5 an hour. “If employers follow the incentives in the law, they will push families onto the exchanges to buy coverage. This will force low-wage service industry employees to spend $2.00, $3.00 or even $5.00 an hour of their pay to buy similar coverage,” said the union in a new report.

“Only in Washington could asking the bottom of the middle class to finance health care for the poorest families be seen as reducing inequality,” said the report from Unite Here. “Without smart fixes, the ACA threatens the middle class with higher premiums, loss of hours, and a shift to part-time work and less comprehensive coverage,” said the report, titled, “The Irony of Obamacare: Making Inequality Worse.”

https://washingtonexaminer.com/big-labor-obamacare-death-spiral-to-worker-pay-insurance-coverage/article/2545310

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Youth Unemployment hovers at 15.8% in February

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Youth Unemployment hovers at 15.8% in February

Washington, DC – (3/7/14) – Generation Opportunity, a national, non-partisan youth advocacy organization, is releasing its Millennial Jobs Report for February 2014. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:

The effective (U-6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is15.8 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 11.4percent (NSA).

The declining labor force participation rate has created an additional 1.952million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.

The effective (U-6) unemployment rate for 18-29 year old African-Americans is23.8 percent (NSA); the (U-3) unemployment rate is 19.3 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.6percent (NSA); the (U-3) unemployment rate is 12.5 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old women is 13.4percent (NSA); the (U-3) unemployment rate is 9.7 percent (NSA).

Evan Feinberg, President of Generation Opportunity, issued the following statement:

“Youth unemployment has been way too high for way too long and politicians seem like they don’t even care about this mess that they created themselves.

“Instead of working to create opportunities for my generation, the administration is busy dreaming up new big government schemes that rob us of our prosperity and threaten our future well-being.”

“If government insists on waging this War on Youth, we will have no choice but to fight back and hold them accountable.”

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Report: Toys ‘R’ Us says it will cut 200 jobs at headquarters

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Report: Toys ‘R’ Us says it will cut 200 jobs at headquarters

MONDAY MARCH 3, 2014, 6:57 PM
BY  JOAN VERDON
STAFF WRITER
THE RECORD

Toys “R” Us is expected to announce layoffs at its headquarters in Wayne, and some 100 store closings in the coming weeks, according to industry sources.

Toys spokeswoman Kathleen Waugh would not comment Monday on a New York Post report that the retailer is preparing to eliminate up to 200 corporate jobs, but toy industry sources said they expect cutbacks will be announced soon.

“We’re all waiting for the shoe to drop,” said one toy analyst.

At the American International Toy Fair in New York City two weeks ago, several manufacturers said privately that Toys executives had told them they would be making cuts and streamlining operations in order to improve the company’s focus.

– See more at: https://www.northjersey.com/news/248188511_Report_says_Toys__R__Us_says_it_will_cut_200_jobs_at_headquarters.html#sthash.MprX8dHJ.dpuf

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Summer Job Openings Hoping to be Filled at YWCA Bergen County Job Fair

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Summer Job Openings Hoping to be Filled at YWCA Bergen County Job Fair

Become Part of the YWCA Team as a Summer Camp Counselor or Lifeguard

YWCA Bergen County will be holding a job fair in search of individuals who want to join our team as Summer Camp Counselors and Lifeguards. Positions available for three of our Summer Camps throughout Bergen County as well as Lifeguarding opportunities at our camps and Englewood swim programs.

Job fair will be held from 6:30 – 9:30 pm on March 27, 2014 in the Salamone Room at YWCA Bergen County, 112 Oak Street, Ridgewood. There will be information regarding summer camps, applications available, raffles and giveaways as well as on-site interviews with camp directors. For those interested in lifeguarding, there will be a FREE prerequisite water skills test occurring that night.

Camp Counselors must be at least 18 years of age and available to work June 23 – August 22, 2014. Lifeguards must be at least 15 years of age and able to work May 24 – August 31, 2014. For more information, please contact Kerry Jannicelli at 201-345-1906 or visitwww.ywcabergencounty.org.

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Nationwide wave of store closings grows

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Nationwide wave of store closings grows

FRIDAY MARCH 7, 2014, 12:02 AM
BY  JOAN VERDON
STAFF WRITER
THE RECORD

The experts who keep track of store openings and closings have been forecasting for more than a decade that the day was coming when American retailers would have to pay for building far too many stores.

That day of reckoning, some say, has arrived, with one retail watcher predicting a “tsunami” of store closings this year.

That prediction, by Brian Sozzi of Belus Capital Advisors in New York, was made in January. RadioShack announced this week that it was closing up to 1,100 of its stores, and Staples said Thursday that it was shutting 225 of its locations.

Even retailers that recently have been in expansion mode are trimming their store counts. Teen retailer Aéropostale is planning to close 175 stores in coming years. The Children’s Place of Secaucus, while continuing to open stores, will shutter 125 of its weakest shops by 2016.

– See more at: https://www.northjersey.com/news/Nationwide_wave_of_store_closings_grows.html#sthash.yTp8hWWq.dpuf

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Face it, liberals: Obamacare will increase the federal deficit

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Face it, liberals: Obamacare will increase the federal deficit

David Hogberg • | FEBRUARY 14, 2014 AT 7:17 PM

Liberals have accepted that Obamacare will increase the federal deficit. They just don’t know it yet.

When the Congressional Budget Office released its Budget and Economic Outlook on Feb. 4, which was quite devastating for Obamacare, liberal commentators were desperate to find the pony in it. Many of them touted claims that the report shows that Obamacare will reduce the deficit.

What the report actually did was refer to a previous CBO report showing that, from 2013-2022, Obamacare reduces the deficit by a cumulative $109 billion. That’s true in the “balance sheet” method that CBO must use to evaluate Obamacare or any other piece of legislation. In other words, the CBO can only count the revenues Obamacare raises against the benefits it must pay out.

Yet Obamacare has impacts beyond those that appear on a balance sheet. If it influences the economy negatively, it can also affect the budget. And that is exactly what the CBO found.

Obamacare’s Medicaid expansion and exchange subsidies will encourage some employees to work fewer hours. Because Medicaid and exchange subsidies are based on income and decline as one’s income rises, the CBO anticipates workers will reduce their hours in order to maintain their Obamacare benefits. By 2024, those reduced hours will reach the equivalent of 2.5 million jobs.

https://washingtonexaminer.com/face-it-liberals-obamacare-will-increase-the-federal-deficit/article/2544076

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Thomas J. Donohue :A steady flow of talented, industrious immigrants can fuel a booming economy

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Thomas J. Donohue :A steady flow of talented, industrious immigrants can fuel a booming economy
Thomas J. Donohue is president and CEO of the U.S. Chamber of Commerce

McClatchy-Tribune News ServiceFebruary 13, 2014

WASHINGTON — In a global economy, investment follows talent. When we draw top talent to our shores, investment dollars follow because companies want to be near the best workers.

An infusion of capital and economic development will be a tide that lifts all boats, creating jobs and opportunity for all Americans.

But the reverse is also true. If companies can’t find talent on U.S. soil, or if it becomes too costly and burdensome, they will move their operations elsewhere. It’s in our own best interests to welcome the world’s brightest minds and hardest workers into our economy.

Immigrants can help bridge a growing skills gap in science, technology, engineering and math – the so-called STEM fields that are vital to a modern, competitive economy.

https://www.fresnobee.com/2014/02/13/3767153/a-steady-flow-of-talented-industrious.html