The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
The Ridgewood Police Department is accepting applications for school crossing guard positions.
Applications are available at the Police Desk located at 131 N. Maple Ave. A part-time position, 10 hours per week (two hours per day), starts at $17.49 per hour.
Send application to Police Chief John Ward, Ridgewood Police Dept., 131 N. Maple Ave., Ridgewood, NJ 07450 or return the application to the police records room.
The Village of Ridgewood is an EOE and civil service community.
Almost One in Four 26-Year-Olds Still Live with Parents
A ten-year survey of millennials reveals that almost one in four (22.6%) 26-year-olds are still living with their parents.
The U.S. Department of Education report confirmed that, if you are tired of living with Mom and Dad, then do your homework and stay in school. According to the survey titled “Where Are They Now,” education makes a difference: generally those with more schooling were less likely to be living at home.
The study shed some light on how older millennials have been faring during the Great Recession. According to a Pew Research analysis of the 2012 data, lower levels of employment, an increase in college enrollment, and a decrease in young people getting married are major factors in the increase of millennials living at home.
15.8% of Young People Still Out of Work in January
Washington, DC – (2/7/14) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for January 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, is 15.8 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 11.3 percent (NSA).
The declining labor force participation rate has created an additional 1.922 million 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 is 23.9 percent (NSA); the (U-3) unemployment rate is 20.1 percent (NSA).
The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.7 percent (NSA); the (U-3) unemployment rate is 12.2 percent (NSA).
The effective (U-6) unemployment rate for 18-29 year old women is 13.5 percent (NSA); the (U-3) unemployment rate is 9.9 percent (NSA).
Evan Feinberg, President of Generation Opportunity, issued the following statement:
“Young Americans can thank Obamacare for such a bleak jobs picture. The Congressional Budget Office wasn’t lying when it reported Obamacare will reduce the American workforce by an additional 2 million jobs over the next three years.
“15.8% of us are still out of work and we have almost nothing to show for it – fewer people have health insurance now than in 2009.”
CBO nearly triples estimate of working hours lost by 2021 due to Affordable Care Act
No compelling evidence Obamacare increased part-time work: CBO
Tuesday, 4 Feb 2014 | 11:00 AM ET
A historically high number of people will be locked out of the workforce by 2021, according to a report by the Congressional Budget Office released Tuesday.
President Barack Obama’s signature health-care law will contribute to this phenomenon, the CBO said, citing new estimates that the Affordable Care Act will cause a larger-than-expected reduction in working hours—eliminating the equivalent of about 2.3 million workers in 2021.
In 2011, the CBO estimated the law would cause a reduction of about 800,000 full-time equivalent workers.
“CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor—given the new taxes and other incentives they will face and the financial benefits some will receive,” said the report.
“The reduction in CBO’s projections of hours worked represents a decline in the number of full-time-equivalent workers of about 2.0 million in 2017, rising to about 2.5 million in 2024,” it added.
https://www.cnbc.com/id/101352868
Nearly Half of America Lives Paycheck-to-Paycheck
By Christopher Matthews @crobmatthewsJan. 30, 2014
The economic picture is looking brighter these days. The federal government announced Thursday that economic growth had picked up to its fastest pace in two years, while employment growth over the past five months has averaged a healthy 185,000 new jobs. But as evidenced by a report out Thursday from the Corporation for Enterprise Development, nearly half of Americans are living in a state of “persistent economic security,” that makes it “difficult to look beyond immediate needs and plan for a more secure future.”
In other words, too many of us are living paycheck to paycheck. The CFED calls these folks “liquid asset poor,” and its report finds that 44% of Americans are living with less than $5,887 in savings for a family of four. The plight of these folks is compounded by the fact that the recession ravaged many Americans’ credit scores to the point that now 56% percent of us have subprime credit. That means that if emergencies arise, many Americans are forced to resort to high-interest debt from credit cards or payday loans.
Read more: Nearly Half of America Lives Paycheck-to-Paycheck | TIME.com https://business.time.com/2014/01/30/nearly-half-of-america-lives-paycheck-to-paycheck/#ixzz2rz9vpyCz
Tax Reform: The First Step Is Simple
January 27, 2014 9:10AM
By Chris Edwards
New leadership is coming to the congressional tax-writing committees. Ron Wyden will be taking the helm of Senate Finance and Paul Ryan will be likely taking the helm of Ways and Means. This is good news, as both gentlemen are serious legislators and very interested in major tax reform.
One thing they should tackle is the personal income tax, which is a complex and high-rate mess. It should be restructured into a simple flat tax.
However, the most urgent needed reform is to slash the corporate income tax rate. Policymakers should put aside changes to deductions, credits, and loopholes for now. Those tax base issues are a diversion and policy quagmire, as the R&D credit illustrates. It is far more important to just cut the statutory corporate rate, which would automatically reduce the effects of tax-base distortions and make it politically easier to reform the tax base later on.
Our current high-rate policy is harming the U.S. economy, reducing job growth, and stifling wages—for no good reason. Abolition is a good long-term goal for corporate income tax reform, but we can start with at least chopping our federal-state rate of 40 percent down to the global average of 24 percent.
The charts show KPMG data for top statutory corporate income tax rates in 2013. KPMG shows UAE with the highest rate in the world at 55 percent. However, that rate just applies to foreign banks and foreign oil companies. So I don’t show UAE since the reported rate is not the general corporate rate.
That leaves the United States with the highest general corporate tax rate in the world, and that makes no sense in today’s competitive global economy.
70% of occupations could become automated over next 30 year
Is 2014 the year YOUR job will be taken by a robot? ‘Jobocalpyse’ set to strike as droids are trained to flip burgers, pour drinks – and even look after our children
Scientists predict a ‘jobocalypse’ as robots take over manual jobs
A huge 70% of occupations could become automated over next 30 years
Drivers, teachers, babysitters and nurses could be replaced by robots
Could mean the end of the eight-hour, five-day working week
By MARK PRIGG
PUBLISHED: 12:04 EST, 20 January 2014 | UPDATED: 16:32 EST, 21 January 2014
Experts are predicting a ‘jobocalypse’ as robots take over manual jobs, while scientists at Cambridge warn that machines should have their intelligence limited to stop them outsmarting us.
A new version of the movie RoboCop (out February 12) shows us a future where technology revolutionises law enforcement, but that is just the tip of the iceberg for robotics.
‘I believe we are the inflection point where robotics are going to change everything you know and do,’ says Ben Way, author of Jobocalypse, a book about about the rise of the robots, told MailOnline.
N.J. reports 36,300 jobs lost last month
New Jersey added a minuscule 10,100 jobs in 2013 after losing more than 36,000 jobs in December — the biggest single-month job loss in 23 years — painting a bleak picture of the state economy and raising questions about its health and direction.
The jarring December figures released Thursday, which economists cautioned may be a statistical blip, translate to a .26 percent job gain for the year, and represent a sharp reversal from the slow-but-steady job increases of recent months that suggested a slight strengthening of the economy after a weak summer.
The December drop of 36,300 jobs — 33,200 private and 3,100 public — was so broad-based that economists said it was difficult to pinpoint a particular reason. They offered several possible explanations, including unusually cold weather, which could explain the loss of 6,500 construction jobs, and could have caused the temporary loss of work for day and freelance workers.
Economists noted, however, that the figures for the entire year will be revised in March, a process that has in the past resulted in some significant changes in monthly totals. (Morley/The Record)
https://www.northjersey.com/
Wall Street advisor: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years
BY PAUL BEDARD | JANUARY 21, 2014 AT 1:08 PM
TOPICS: WASHINGTON SECRETS JOBS TREASURY ECONOMY FEDERAL RESERVE INFLATION WALL STREET UNEMPLOYMENT
40 years ago, former President Ford issued “WIN” buttons, short for “Whip Inflation Now.” The…
Wall Street advisor: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years
BY PAUL BEDARD | JANUARY 21, 2014 AT 1:08 PM
Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the realunemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.
In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.
Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn’t being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.
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“The unemployment rate only describes people who are currently working or looking for work,” he said. That leaves out a ton more.
“Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent. This number obviously includes some people who are not or never plan to seek employment. But it does describe how many people are not able to, do not want to or cannot find a way to work. Policies that remove the barriers to employment, thus decreasing this number, are obviously beneficial,” he and colleague Megan Russell in their new investors note from their offices in Charlottesville, Va.
https://washingtonexaminer.com/wall-street-advisor-actual-unemployment-is-37.2-misery-index-worst-in-40-years/article/2542604
The Crisis in Black and Brown Youth Unemployment
by Imara Jones
Wednesday, January 15 2014, 7:00 AM EST
As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color.
The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.
The situation for black and Latino unemployed youths is so alarming that leading think tanks and economists are raising red flags about it at a staggering pace. One report on the topic by Demos, the public policy organization, argues that the “exclusion of young people of color” from job opportunities “weakens the promise of America.”*
https://colorlines.com/archives/2014/01/youth_unemployment.html
End of Extended Benefits Makes Hard Times Even Harder for Jobless in NJ
Unemployed fear they’ll hit bottom soon as they fall through gaping hole in safety net
Kathy Vanco of Rahway has been out of work for six months. She has been surviving on a biweekly unemployment check of about $700. That came to an end this week, however, and now she may have to dip into her savings to make ends meet.
“Without unemployment, I won’t be able to pay the car insurance, and forget about health insurance,” she said.
A year ago, Vanco would have been eligible for up to 47 weeks of emergency unemployment benefits – for a total of 73 weeks of aid — but the federal program expired on December 28 and has not been renewed, having stalled in the U.S. Senate on Tuesday. Unemployed workers now are eligible only for the 26 weeks of state assistance.
An estimated 90,300 unemployed New Jerseyans who were receiving emergency benefits were cut off late last month when a House and Senate budget deal did not include an extension. Another 89,100 jobless workers in the state will see their regular state unemployment benefits run out over the next six months. All workers who qualified for state benefits would have been eligible for the federal extension when the state aid expired. (Kalet/NJSpotlight)
https://www.njspotlight.com/stories/14/01/15/end-of-extended-benefits-makes-hard-times-even-harder-for-jobless-in-nj/
Neighbors-helping-Neighbors attends Forum in Washington DC for job search groups
John R. Fugazzie
https://www.neighbors-helping-neighbors.com/
Spetmebre 22,2012
9:29 AM
Ridgewood NJ, Nice recap of the Washington DC meeting on Thursday morning of job search groups across the county meeting with Department of Labor Secretary Solis. Which i attended and represented Neighbors-helping-Neighbors USA, Inc.
https://netthrowers.blogspot.com/2012/09/faith-in-future.html?goback=.gde_3892534_member_166756526
FRIDAY, SEPTEMBER 21, 2012
Faith in the Future
There was a whole lot of good feeling, and welcome good news, yesterday at a special forum in the White House in Washington D.C. The purpose of the gathering was to shine the spotlight on the legion of faith-filled Americans who are trying to help the unemployed get back to work.
As one of the legion who is actively involved in this mission, I was invited by Ben Seigel of The White House Office of Faith-based and Neighborhood Partnerships to join U.S. Labor Secretary Hilda L. Solis at a White House Forum titled:
Job Clubs and Career Ministries: On the Front Lines of Getting Americans Back to Work
https://netthrowers.blogspot.com/2012/09/faith-in-future.html?goback=.gde_3892534_member_166756526
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US Post Office Needs to Cut 260,000 Jobs: Rep. Issa
Published: Tuesday, 24 Jan 2012 | 9:24 AM ET
By: Jeff Cox CNBC.com Senior Writer
The U.S. Postal Service needs to slash 260,000 jobs and end weekend delivery if it is to climb out of its “financially insolvent” condition, Rep. Darrell Issa said.
Despite a mandate to avoid deficits, the post office loses up to $15 billion a year, Issa told CNBC during an informal gathering of senior House Oversight and Government Reform Committee members.
“It’s a combination of delivering what people want at a price they’re willing to pay,” the California Republican said. “We’ve restricted what the post office can charge for various classes of mail. But the biggest challenge is there are about 660,000 workers at the post office. In the private sector there would be about 400,000.”
