Tag Archives: unemployment

More Bad News as the Economy Points to a “Double-Dip”

The following article by Masao Suzuki is from Fight Back! News:

San Bruno, CA – On Aug. 25, the Commerce Department reported that new home sales in July fell 12.4% from the level of sales in June, and were 32.4% lower than July of 2009. This report, which was much worse than most economists expected, followed a report by the National Association of Realtors the day before that sales of existing homes in July fell 27.2% from June, and were 25.5% lower than a year earlier.

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Freedom Road looks at the U.S. domestic situation

The following is the Domestic section of the Main Political Report from the 6th Congress of the Freedom Road Socialist Organization. The Economic section has been previously published, and the section on the international situation is forthcoming.

Decline of American Power, Leftward Shift Define New Period

For the past three years, the conditions shaping domestic politics in the United States have been marked by the economic crisis, a qualitative shift away from the free market capitalism of Ronald Reagan on the part of the bourgeoisie, and a leftward political shift amongst the people. The massive economic and financial crisis, which began in December 2007, and the continuing decline of U.S. imperialism globally, have come together to judge the Reagan Era and its aftermath as a failure.  The economic crisis swept from power the party of George Bush and brought into office the first African-American President of the United States–Barack Obama.

This set of qualitative changes is in part the foundation of and in part manifestations of a new period.  It is this new set of conditions which sets the context for the peoples struggle against U.S imperialism.

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Another week, another 300,000 unemployed lose their federal unemployment benefits while senators take a break

The following article by Masao Suzuki is from Fight Back! News:

San José, CA – On July 8, the U.S. Department of Labor reported that almost 350,000 unemployed were dropped from federal unemployment insurance rolls. This is the second week in a row that the number of Americans collecting Federal Emergency Unemployment Compensation (EUC) and Extended Benefits (EB) has dropped by more than 300,000. Funding for these programs has run out, and Republicans in the Senate have blocked a vote to provide moneys for federal unemployment insurance benefits. As a result, jobless workers are getting cut off of their federal unemployment insurance benefits by the hundreds of thousands each week.

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Republican filibuster cuts off Federal Extended Unemployment Insurance

The following article by Masao Suzuki is from Fight Back! News:

Senate Republican filibuster cuts off Federal Extended Unemployment Insurance, Democrats refuse to use reconciliation process

San José, CA – On June 24, Republican Senators, along with Nebraska Democrat Ben Nelson blocked a vote on extending Federal Unemployment Insurance benefits. After the 57-41 vote to end debate (60 votes are needed in the Senate to stop arguing and start voting), Democratic Senate leader Harry Reid of Nevada pronounced the measure dead.

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Unemployed face a perfect storm

The following article by Masao Suzuki is from Fight Back! News:

Almost a million lose benefits while layoffs continue and businesses refuse to hire the unemployed

San José, CA – On June 18, a Republican filibuster, aided by pro-war independent Joe Lieberman and Nebraska Democrat Ben Nelson, blocked an extension of federal unemployment benefits. The U.S. Department of Labor estimates that more than 900,000 laid-off workers will have had their unemployment benefit checks cut off as of June 19.

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Jobs report raises new doubts about economic recovery

The following article by Masao Suzuki is from Fight Back! News:

San José, CA – On June 4, the Department of Labor reported that there were 431,000 more jobs in May than the month before. But almost all of these new jobs were temporary workers hired for the 2010 Census. Only 41,000 jobs were added by businesses, down sharply from the 218,000 private sector job gain in April. This number was far worse than the 150,000 new jobs that economists expected private businesses to add in May. And of these 41,000 new private sector jobs, 31,000 were temporary help service workers. Despite the job gains this year, the economy is still down some 8 million jobs since the recession began in December of 2007.

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A First Look at the Job Market in the New Year: The Good, the Bad and the Ugly

Protesters block road to protest factory closure in Moline, IL. (Fight Back! News/Staff)

The following article, by Masao Suzuki, is from Fight Back! News:

San Bruno, CA – On Feb. 5 the Department of Labor released their report on the January 2010 job market. The good news in the report was that the official unemployment rate fell from 10.0% in December to 9.7% in January. This is the biggest drop in the unemployment rate since the recession began in December 2007.

There was also a fair amount of bad news in the jobs report. Some 20,000 payroll jobs were lost in January, and the job loss in December was revised up to 150,000 jobs. There was an increase of 52,000 temporary jobs in January, which means that 72,000 permanent jobs were lost.

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