Word: joblessness
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...biggest risk to a continued rise in bank stocks? There are three risks: first, that credit spreads widen again and go back up to historic highs; second, that the employment situation, on a relative basis, is not improving and we see an acceleration in the rate of weekly jobless claims; third, if housing takes another big move to the downside...
...recession has gone on so long and has been so crippling that the eyes of the wishful begin to play tricks. A small piece of economic information, like one month of very modestly improved housing numbers or one week of a slight decrease in jobless claims, sets off a chain reaction. If one set of numbers is OK, the next set will be better. Real estate prices will stop falling everywhere, if they stop falling in hard hit Nevada. (See pictures of Las Vegas...
...Michigan, whose 12.6% jobless rate is the highest in the U.S., with still more auto-plant closings coming soon, launched its "No Worker Left Behind" program in August 2007. So far the state has footed the bill - up to $10,000 per displaced worker - for 61,434 unemployed Michiganders to learn the math, technology and science skills they need to embark on new careers at companies like Hemlock Semiconductor, Dow Chemical and Dow Corning, which are investing and hiring there. Also in demand: the program's newly trained nursing assistants, physical therapists and health-care technicians...
...thing to be laid off in an economic crisis. It is quite another to be unemployed and to feel unwanted by the country where you've settled. That's how Freitas and other Brazilians feel since the Japanese government started the program to pay $3,000 to each jobless foreigner of Japanese descent (called Nikkei) and $2,000 to each family member to return to their country of origin. The money isn't the problem, the Brazilians say; it's the fact that they will not be allowed to return until economic and employment conditions improve - whenever that...
...joblessness level reached 8.5% at in March because the number of people pushed out of work last month rose 663,000. Each time another 1.7 million people lose their jobs, the unemployment rate moves up another 1%, so if 2.6 million more Americans are fired, the jobless rate will hit 10%. At the current rate at which the economy is shedding workers the 10% level will be reached by the end of July. The counterargument to picking a date only four months from now is that the rate at which people are losing jobs will decelerate. Of course, there...