Word: joblessness
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...experience, in no way contributes to "warping incentives to look for work." A job search takes earnest effort and several months' time, even in better times than these; many of the "lower-paying, less desirable jobs" she cites are passed up because they will not support a household. Extending jobless benefits would not "be reinforcing that misery." No money coming in at all would result in even more misery...
...year following a recession's trough, says Canally. However, he concedes this year's snapback won't be as big as those following the last two recessions, since consumers currently face headwinds from high unemployment, the battered housing sector and frozen credit markets. "We're well into a jobless recovery, credit lines have been cut, and consumers can no longer use their houses as ATMs," he says. Nevertheless, Canally says, consumers are benefiting from last year's rebound in the stock market and higher consumer savings rate, which makes them stronger financially. "Consumers are feeling a lot better today than...
...called underemployment rate, which includes the country's jobless as well as workers who have taken part-time jobs and those who have given up looking for work, is even higher, at about 18%, notes Davidowitz. "We're not adding jobs, we're losing jobs," he says. Davidowitz is predicting a double-dip recession, and if that happens, he sees little improvement in job growth, the credit markets or consumer confidence in 2010. "I don't see any increase [in retail sales] this year. However, he expects value retailers, such as Walmart, Kohl's, Target, TJX, Ross and Costco...
...parties - that also boosts the broader economy by keeping consumer dollars in circulation. In normal economic times, workers typically receive, depending on the state, up to 26 weeks of benefits, with the possibility of a 13-week extension. Following extensions passed under Presidents George W. Bush and Barack Obama, jobless benefits can now run as long as 99 weeks - nearly two years. During the 1982-83 recession, the longest time a person could collect benefits was about 55 weeks.(See how Americans are spending...
...package, and the Senate is set to consider that. On Jan. 10 presidential economic adviser Christina Romer suggested that there was a "need to do more." With unemployment hanging at a stubborn 10% and the release of another troubling jobs report last week, why not do more for the jobless...