1 in 7 Americans rely on food stamps

What the Rising Stock Market Doesn't Say About Jobs
If the Stock Market reflected the entire economy, then Americans could cheer the new annual highs in equity prices as a harbinger of good times ahead. But the Stock Market reflects only the outlook for corporate profits, not The Economy as a whole. Thus, the rising stock indexes are cold comfort for the millions of unemployed, temporary and part-time workers and self-employed who have seen their income decline and their prospects dim. To get a clearer picture of the jobs picture in the U.S., l...

1 in 7 Americans rely on food stamps
Source: CNN NEW YORK (CNNMoney.com) -- The use of Food Stamps has increased dramatically in the U.S., as the Federal Government ramps up basic assistance to meet the demands of an increasingly desperate population. The number of food stamp recipients increased 16% over last year. This means that 14% of the population is now living on food stamps. That's about 43 million people, or about one out of every seven Americans. In some states, like Tennessee, Mississippi, New Mexico and Oregon, one in f...

States Raise Payroll Taxes to Repay Unemployment Insurance Loans
Don’t you love this razzle dazzle the Feds pulled? This is an Insurance plan paid by the employer, not a government program. Of course the employer was going to have to pay for the extension of benefits sooner or later. Just like any other Insurance plan. Why can’t someone please just be honest about they are about? But then again, they may not even know. State Governments are borrowing heavily from the Federal Government to keep paying Unemployment-insurance benefits and, even with ...

Unemployment benefits extension in tax-cut deal only goes so far
While Bipartisan tax Legislation signed by President Obama on Friday reinstates Unemployment Benefits for about 1 million it doesn't provide any additional help for those who have exhausted all 99 weeks. The $858 billion measure provides for an extension of federal Unemployment Benefits through the end of 2011 but only for those who have exhausted their 26 weeks of state jobless Insurance or who are working their way through the federal tiers. The White House, Democratic lawmakers and advoca...

Question #10 for 2011: Monetary Policy
by CalculatedRisk on 12/21/2010 12:57:00 PM Over the weekend I posted some questions for next year: Ten Economic Questions for 2011. I'll try to add some predictions, or at least some thoughts for each question - working backwards - before the end of year. Remember, I have no crystal ball and I'm sure many people will disagree. Also many of the questions are interrelated. The question on Monetary Policy depends on Inflation (question #9) and the Unemployment Rate (question #6). And the unemplo...

R.I. Ethics Commission clears Costantino for state post
PROVIDENCE — The state Ethics Commission ruled on Tuesday that outgoing state Rep. Steven M. Costantino, who lost his bid for Providence mayor this year, is eligible to serve as head of the Office of Health and Human Services under Governor-elect Lincoln D. Chafee’s administration. The commission voted unanimously to accept a recommendation by its legal staff that the state’s so-called revolving-door law does not bar the lawmaker from taking a senior-level job in the executive ...

The Net Impact of the Tax Deal
Dean Baker says the impact of the tax Compromise may not be as large as you've been led to believe: Obama's tax deal: read the small print, by Dean Baker: ...While The Economy will do better with this tax package..., much of the discussion has exaggerated the potential stimulus to the economy. First, it is important to remember that although the total package is scored as costing almost $900bn over two years, almost everything in this package simply leaves in place current Tax Rates an...

Japan forecasts GDP growth to slow in 2011
The pace of Japan's Economic Growth will halve in fiscal 2011 from this year as a stimulus-driven shopping rush eases and exports fall on a strong yen and softer demand, the government said Wednesday. In its outlook report, the Cabinet Office also said consumer prices will stop falling but will not rise, dealing a blow to Prime Minister Naoto Kan's stated goal of ending Deflation in the year. Recent year-on-year falls in the Consumer Price Index will halt in the middle of next year, the Cabinet ...

Will 2011 Bring Economic Recovery or More of the Same?
If The Economy improves in 2011, the surest sign of this might be an increase in the Unemployment Rate. That is not a typo. An increase in the Unemployment rate could be an indicator that The Economy is improving and that a recovery is taking place. This will be one of several indicators to keep in mind as 2011 unfolds and Americans (and pollsters for both parties) wonder whether or not this is the year that The Economy shows signs of recovery. A higher Unemployment rate could mean that the wo...

From laughing to judging in fifty years
A new study from NBC reveals how emotions generated from TV shows have mirrored American society. And 'judgment' is the current king of the charts. If you're on TV, whether in a drama or reality show, chances are that Americans are sitting on their couches, silently judging you. Those are the findings from a new study conducted by NBC Universal, which examined the top 20 broadcast programs (via Nielsen Ratings) of each year, over the past 50 years. NBC asked nearly 3,500 heavy TV-watchers, ages...

House passes legislation overhauling food-safety laws
The House passed a measure to overhaul the nation's food-safety laws by a vote of 215 to 144 Tuesday afternoon, and President Obama is expected to sign it into law as soon as Wednesday. This Story House passes Legislation overhauling food-safety laws Food-safety measure passes Senate in Sunday surprise For food-safety overhaul, Lobbyists rushed to the table Procedural problem threatens Food Safety bill The Food Safety bill View All Items in This Story View Only Top Items in This Story The vot...

Draft Chesco budget has no tax increase
The Chester County Commissioners unanimously approved Tuesday a 2011 Budget that does not impose a Tax Increase but does slash the allocation for open-space acquisitions. The commissioners said that during the last several months, they were urged repeatedly by residents without jobs or on fixed incomes to hold the line on spending. "The message was sent by the people we serve, and we heeded that message," Chairwoman Carol Aichele said. The $501,548,745 Budget includes a freeze in wages...

Public pension change supported
Lord Hutton's review of Public Sector Pension schemes has been urged to recommend they be changed to career average schemes. The National Association of Pension Funds (NAPF) says such a switch would be the best way to keep the schemes going in the face of rising costs. It would also protect the interests of lower-paid workers, the NAPF said. Most public servants are in better final-salary schemes, whose costs are rising due to increasing longevity. Lord Hutton indicated he would recommend t...

Health insurers must justify rate increases over 10 percent
WASHINGTON -- In a move to protect consumers, the Obama Administration said Tuesday that it would require health Insurance Companies to disclose and justify any rate increases of 10 percent or more next year. State or federal officials will review such increases to determine if they are unreasonable, the administration said in proposing a Regulation to enforce the requirement. The proposed rule represents a major expansion of federal authority in an area long regulated by states. Kathleen Seb...

32 states borrow billions from feds to cover unemployment benefits...
BY MALIA ZIMMERMAN - Hawaii has applied to be the 32nd state to borrow from the U.S. Department of Labor’s Employment and Training Administration to pay state Unemployment Benefits. Hawaii will temporarily take up to $30 million this December to cover payments to the state’s 17,000 unemployed workers who lost their jobs within the last 26 weeks. That is the beginning of what will likely be an 18-month borrowing streak, says State Department of Labor and Industrial Relations Interim D...

Lame Duck Produces a Lame Economy
Floyd and Mary Beth Brow, FloydReports.com The Lame Duck Congress and President Obama are retarding the recovery. It’s tough medicine to medicine to swallow — ending Unemployment Benefits for people who have been out of work for three years — but it is necessary if we want recovery. The official U.S. Unemployment Rate has not been beneath 9 percent since April 2009, and it is unlikely to dip until much of the currently unemployed take jobs paying lower wages and benefits. Back in...

Hatch displays stunning lack of knowledge on unemployment insurance
Hopefully Orrin Hatch is reading the local, Capitol Hill news. Last week, he became one of the growing numbers of congresspeople who showed his vast ignorance on the topic of Unemployment Insurance. WASHINGTON -- Utah Republican Sen. Orrin Hatch said this week that extended Unemployment insurance "is well over 100 weeks now," making him the latest Millionaire member of Congress to publicly demonstrate that he does not understand the Unemployment Legislation he obstructs.... Hatch joins Sen.Joh...

Are social media jobs here to stay?
The demand for Social Media jobs has exploded, even as overall Unemployment heads in the opposite direction. But in a fledgling field surrounded by hype, some industry insiders are saying it may be too good to last. With billions of dollars on offer for fledgling Social Media companies and even the biggest corporations refining their approach to the Tweet, the budding Social Media industry seems like a goldmine for young and tech-savvy jobseekers. The demand for Social Media jobs has exploded, ...

Good Teachers Wanted, Apply Within
Tue Dec. 21, 2010 2:07 PM PST A teacher one standard deviation above the mean effectiveness annually generates marginal gains of over $400,000 in present value of Student future earnings with a class size of 20 and proportionately higher with larger class sizes. These aren't just superstars that Hanushek is talking about, either. About 16% of teachers are one standard deviation above the mean, so these are good teachers but not necessarily sensational ones. Karl Smith is impressed: Social value...

Mexico-U.S. produce trade hit by drug war concerns
By Mica Rosenberg Mexico City | Tue Dec 21, 2010 6:07pm EST Mexico City (Reuters) - U.S. importers of fresh fruits and vegetables from Mexico say they are beginning to face losses from delays after U.S. quality inspectors pulled out of Mexico fearing escalating drug violence. The Arizona Department of Agriculture, or ADA, decided last month to stop sending inspectors to northern Sonora state to check fresh produce quality prior to import, citing fears of surging drug murders south of the bord...

Mexico-U.S. produce trade hit by drug war concerns
Mexico City (Reuters) - U.S. importers of fresh fruits and vegetables from Mexico say they are beginning to face losses from delays after U.S. quality inspectors pulled out of Mexico fearing escalating drug violence. The Arizona Department of Agriculture, or ADA, decided last month to stop sending inspectors to northern Sonora state to check fresh produce quality prior to import, citing fears of surging drug murders south of the border. The retreat of U.S. agricultural inspectors from Nogales, ...

Stopgap spending measure clears Congress
WASHINGTON — Congress cleared a stopgap funding bill Tuesday to keep the Federal Government open into March, a temporary truce until Republicans and President Barack Obama rejoin the battle over the Budget next year. The bill was passed by the House in the evening just hours after speeding through the Senate. Obama was poised to sign it by midnight to avoid a government shutdown. The measure would freeze agency budgets at current levels. That's still too high for Republicans set to take ov...

Stopgap spending hamstrings government programs
WASHINGTON -- The Securities and Exchange Commission has stopped hiring and mostly halted travel by agency officials. Hundreds of millions of dollars in aid to nations like Pakistan is held up, as are U.S. contributions to global health and emergency food programs. A systems upgrade by the IRS to improve electronic data-keeping and speed tax refunds could be delayed for years -- all because the Federal Government is operating on a temporary measure largely at last year's levels. Congress on T...

Stopgap spending measure clears Congress
WASHINGTON — Congress cleared a stopgap funding bill Tuesday to keep the Federal Government open into March, a temporary truce until Republicans and President Barack Obama rejoin the battle over the Budget next year. The bill was passed by the House in the evening just hours after speeding through the Senate. Obama was poised to sign it by midnight to avoid a government shutdown. The measure would freeze agency budgets at current levels. That's still too high for Republicans set to take ov...

Recession forces rise in low-wage families, report says
The Great Recession, responsible for boosting Unemployment to its highest levels in a generation, has sharply increased the percentage of working people who earn wages so paltry that they are struggling to survive, according to a new report. This Story Recession forces rise in low-wage families, report says User Poll: What economic issue are you most concerned about? The share of Working Families earning less than double the official Poverty threshold - $43,512 for a family of four - increase...