Unemployment Archive
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Chad Stone, Chief Economist, on November Employment Report
December 5, 2008
Today’s devastating jobs report confirms that the economy is in a serious recession. Good policy in the months ahead is vital to limit the damage, but even so this recession is likely to be the longest, and possibly one of the deepest, since World War II. Today’s report also … -
Statement by Chad Stone, Chief Economist, on the October Employment Report
November 7, 2008
The weakness in the economy showed up with a vengeance in today’s employment report. As unemployment continues to rise, the percentage of Americans with a job is at its lowest level since 1993 and more than one in five of the unemployed has been looking for work for at least 27 weeks. … -
Job Growth Has Slowed Significantly in 2006
Revised October 13, 2008
New Labor Department data released today show that employment growth slowed markedly in September, providing further evidence that the labor market has weakened in 2006. Looking at this year to date, two key findings emerge. Average job growth in 2006 has been notably slower than in either 2005 or 2004. Employment has grown at an average annual … -
Statement by Chad Stone, Chief Economist, on the September Employment Report
October 3, 2008
Today’s employment report is a reminder that the economy’s troubles run deeper than the financial market distress that is monopolizing the headlines. Enacting the financial rescue plan before the House today is vital to reduce the risk of financial meltdown and an ensuing economic contraction more severe than any since the 1930s. But … -
Key Components of House and Senate Economic Recovery Packages Would Boost the Economy and Provide Needed Relief to Struggling Families
September 26, 2008
Congress is properly focused on designing an appropriate measure to address very serious problems in the financial markets, which many experts persuasively argue is essential to help avert a meltdown in the financial markets and a potentially severe recession. The problems in the financial sector, however, are not the only ones the … -
Statement by Chad Stone, Chief Economist, on the August Employment Report
September 5, 2008
Today’s extremely disappointing employment report shows that the economy remains mired in a slump and still waiting for something to jump start a sustainable recovery. Consumer spending supported by the stimulus payments that Congress enacted earlier this year helped keep the economy growing … -
Statement by Chad Stone, Chief Economist, on the July Employment Report
August 1, 2008
Today’s disappointing employment report lends greater urgency to lawmakers’ efforts to craft a second round of effective economic stimulus legislation that Congress can enact quickly when it returns in September. Consumer spending supported by the stimulus payments that Congress … -
The Unemployment Rate Is Already High Enough to Warrant Extended Benefits
Revised June 16, 2008
On June 6, the U.S. Department of Labor reported that the unemployment rate had risen sharply, to 5.5 percent. Legislation is moving on Capitol Hill to provide additional weeks of unemployment insurance (UI) benefits to people whose regular benefits run out before they can find a new job. (The House passed such legislation June 12.) … -
Statement by Chad Stone, Chief Economist, on the May Employment Report
June 6, 2008
Today’s disappointing employment report should lead the White House to reconsider its opposition to extending unemployment insurance benefits for workers who have been unable find a new job. A temporary extended benefits program for workers who exhaust their regular unemployment insurance … -
Statement by Robert Greenstein on the House Supplemental Funding Bill
May 15, 2008
The House supplemental funding bill makes important changes to domestic policy by temporarily extending unemployment benefits and imposing a moratorium on harmful Medicaid regulations. The unemployment measure would provide, on a temporary basis, an extra 13 weeks of jobless benefits to workers … -
Statement by Chad Stone, Chief Economist, on the April Employment Report
May 2, 2008
Today’s employment report provides no comfort to those who want to work but can’t find a job, especially those who have exhausted their regular unemployment insurance benefits or soon will. Congress should quickly enact temporary extended unemployment benefits both to support the … -
Statement by Chad Stone, Chief Economist, on the March Employment Report
April 4, 2008
Today’s disappointing employment report makes one thing clear: Congress should quickly enact temporary extended unemployment insurance benefits, both to support the slumping economy and to provide needed assistance to workers who have been looking for work for more than half a year and have … -
Statement by Chad Stone, Chief Economist, on the February Employment Report
March 7, 2008
Today’s employment report adds to the mounting evidence that the economy is too weak to avoid more unemployment and shrinking job opportunities in the months ahead. Rather than wait too long, as it has in similar situations in the past, Congress should quickly enact temporary extended … -
Statement by Chad Stone, Chief Economist, on the January Employment Report
February 1, 2008
Today’s employment report provides fresh evidence both that the economy is slowing and that Congress should include a temporary extension of unemployment insurance benefits in its fiscal stimulus package. The percentage of the unemployed who have been looking for a job for more than half … -
Senate Proposal to Add Unemployment Insurance Benefits Improves Effectiveness of Stimulus Bill
January 31, 2008
The economic stimulus package approved by the Senate Finance Committee contains an important improvement to the package the House passed January 29 — the addition of temporary extended unemployment insurance (UI) benefits. The Finance bill would make 13 weeks of additional UI benefits available to all jobless Americans who … -
Zandi Analysis Finds Rebates More Effective As Stimulus If They Include Lower-Income Workers
January 22, 2008
A new analysis by Mark Zandi, chief economist of Moody’s Economy.com, examines the effectiveness of various stimulus options that policymakers are now discussing. Zandi’s findings, which cover both tax and spending options, include the following: A temporary increase in food stamp benefits is the most effective stimulus measure on the … -
Statement by Chad Stone, Chief Economist, on the December Unemployment Report
January 4, 2008
Today’s report shows that the economy is entering 2008 with a weakening labor market. Employers expanded their payrolls by a meager 18,000 jobs in December, private payrolls actually shrank by 13,000 jobs, and the unemployment rate rose from 4.7 to 5.0 percent. These data are very …
