The Inside Job
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Why the Marginally Attached are Misunderstood
Continue reading… 1 CommentAs the under-employment rate is increasingly reported--often as the "real" unemployment rate--some of the data behind the figure has become obscured. The under-employment rate--now at 17.5 percent--is made up of the unemployed, the "marginally attached," and part-time workers who want full-time jobs.
References to marginally attached workers routinely indicate that this group is made up of recent job seekers who have dropped out of the workforce because they don't believe they'll find anything. With 2.4 million marginally attached workers in the U.S. last month, the message seems to be that millions of Americans are giving up hope.
[See why productivity won't kill a jobs rebound.]
But marginally attached workers are somewhat misunderstood. For the most part, this group is made up of people who had not looked for work recently not because they had lost hope, but because they were otherwise occupied with such things as family responsibilities or attending school.
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Will Productivity Kill a Job Rebound?
Continue reading… 1 CommentAmericans sure worked hard last quarter. Productivity grew at a 9.5 percent annual rate, the Labor Department reported today. Labor productivity is measured by dividing output by hours worked, and in the third quarter, output rose by 4 percent and the number of hours worked fell by 5 percent. Employers have cut payrolls and slashed hours throughout the recession, while keeping up production.
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Unemployment Extension Clears Senate
Continue reading… 49 CommentsTo the great relief of many job seekers, the Senate Wednesday evening passed a bill providing for extended unemployment benefits. The bill passed 98-0, the AP is reporting. Because the Senate did not vote on the original House bill, but on an expanded version, the House will have to agree to the changes as well. However, House Majority Leader Steny Hoyer said earlier this week that the House would take up the legislation right away.
The Senate bill provides additional weeks of benefits for eligible workers in all states, expanding on the House bill's provision for additional benefits in only those states with higher unemployment rates.
