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...economy. The problem is related to a hiccup in an economic rule called Okun's law. First mooted by economist Arthur Okun in 1962, the law (it's really more of a rule of thumb) says that when the economy grows, it produces jobs at a predictable rate, and when it shrinks, it sheds them at a similarly regular pace. It's a labor version of how the accelerator on your car works: add gas, go faster; less gas, go slower...
...hasn't occurred since the end of World War II. The number of long-term unemployed, people who have been out of work for more than 27 weeks, was the highest since the BLS began recording the number in 1948. Jobless figures released Sept. 4 showed a 9.7% unemployment rate, pushing the U.S. - unthinkably - ahead of Europe, with...
...insufficient. They reflect a pre-9%-11% way of thinking as much as old defense policy reflected a pre-9/11 notion of who our enemies were. The funding for job creation in the American Recovery and Reinvestment Act was based on an assumed 8.9% unemployment rate. Now 15% is a realistic possibility. And yet we're hearing few interesting ideas about how to enhance America's already groaning unemployment support system as millions of Americans sit idle. Tangled in the debate over health care - and bleeding political capital - the White House may find itself too weak and distracted...
...list goes on: Russell, the elegant, no-nonsense employment-office manager, says traffic to her office increased 13% over the past 12 months. Of the county's 19,510 workers, 2,358 were unemployed as of Aug. 13 - a rate of 12%. More cuts may be on the way. Aleris International, a manufacturer of rolled aluminum that employs 149 at its Roxboro plant, filed for Chapter 11 bankruptcy protection in February. Charter Communications, which has 14 working for it in Roxboro, followed suit in March. "People are afraid to spend their money now," says Marcia O'Neil, head...
...everything from the quality of the education, to lack of student services, to dingy student accommodation, to not being paid the correct hourly rate," Unni says. Pawan Luthra, chief executive of the local Indian community newspaper, Indian Link, agrees. "If even 0.1% of the $15 billion or so earned by Australia from the sector had been invested in safeguards and [better conditions], this situation would not have occurred ... Coal and iron are commodities, but these are human beings, with feelings and emotions. They need to be protected...