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...Unlike other economists, Lam looks beyond the total jobless number to something called employment flow, which tracks the numbers of people moving from the ranks of those receiving a regular paycheck to those who aren't and vice versa. What Lam has found is disturbing. Currently, people out of work have just a 22% chance of landing a new job within the next month. That already makes this a worse market for job seekers than at any time during the downturns of the early 2000s or 1990s, which is as far back as Lam's data goes. And remember...
...financial sector is shrinking. Technical-assistance jobs shipped overseas aren't coming back. And an aging population requires different services. Not all of these things are new, but it seems that we have hit some kind of breaking point for the U.S. job market...
...easy for the town manager to cave," says Edholm. "There's often no downside. He's not held accountable for the profitability of a firm. He's held accountable if the streets aren't swept, the roads aren't paved or the garbage isn't picked up. It's easier to cave in to union demands than to save $9 on everyone's local tax bill, if that's what it comes down...
Many city workers are eligible for legacy health plans that aren't available to private-sector workers in any but the ritziest of jobs. Some such plans, for instance, offer 100% coverage for basic surgeries with little if any co-pay, whereas private plans may require a $250 to $500 co-pay per surgery. In Massachusetts, for example, many local government employees enjoy benefit plans that have long since been phased out for private employees, who have seen plan standards tighten consistently in recent years. Increasingly, private sector employees across the country end up in euphemistically dubbed "consumer-directed health...
...ahead. First, energy leaders asked Obama to immediately adjust the alternative-energy production credit to provide green investors with a cash rebate, rather than a tax reduction. With the economy tanking, simple tax credits - which Congress renewed in October and without which the renewable-energy industry would not survive - aren't the lure they once were for companies looking to invest in new energy projects...