All Posts Tagged Tag: ‘Unemployment’

Switzerland $25 Minimum Wage Voted Against

Switzerland voted Sunday to reject a measure called the Decent Salary Initiative, that would establish a minimum wage of $4,515 per month in that country, with 76.3% of voters opposed to the idea. The proposed monthly minimum wage equates to roughly $25 per hour, which would be the highest in the world. Proponents called the wage hike necessary, while opponents …

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Unemployment Benefits Extension Could Be Postponed

On Wednesday, U.S. House of Representatives Speaker John Boehner said that the proposition to continue long-term unemployment benefits “is simply unworkable” when questioned about the potential to offer benefits for the beginning five-month lapse of 2014 and stretching retroactively all the way back until December 29, 2013. Reports claim that the Senate is expected to vote on legislation to accommodate …

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U.S. Economy Adds 175,000 Jobs in February

The American economy added 175,000 jobs in February which is higher than the goal of 149,000 set by Wall Street economists. However, the numbers on actually hiring were a little less impressive. With all the new jobs, the unemployment rate still rose .1% to rest at 6.7% for February. That’s 10.5 million people if you’re counting. What’s the cause of …

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Janet Yellen to Make First Speech as New Fed Chair

Janet Yellen, as the newly appointed Fed chair and first woman to ever hold the post, will make her first comments today before the House Financial Services Committee and then Thursday before the Senate Banking Committee. She has addressed these committees before as vice chair for three years and as a leading economist for a long time, but now she …

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Disney Layoffs: Hundreds Expected To Be Axed

Disney Interactive, the video game and digital media subsidiary of The Walt Disney Co., will soon layoff “several hundred” of its employees from a total staff of about 3000, according to the Wall Street Journal. The cuts are expected to be announced by Wednesday. The subsidiary has been underperforming for several years now and has reportedly lost over 200 million a year …

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Jobless Benefits Undecided By the Senate

Jobless benefits expired for more than 1.3 million Americans on December 28, 2013. Since that date the total number of long-term unemployed Americans has increased to 1.4 million. The issue was raised today in the U.S. Senate however Republicans and Democrats could not reach an agreement on the best course of action for determining long-term jobless benefits. According to Senator …

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Macy’s Cuts Jobs Despite Successful Christmas Sales

Bad news for Macy’s employees. The retailer announced on Thursday that it will be laying off about 2500 of its employees despite having successful earnings over the Christmas season. Macy’s announced that it intends to close a total of 5 stores in Arizona, Kansas, Missouri, New York and Utah by this spring. In addition to giving some employees the boot, the remaining staff will take on additional …

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Unemployment Extension Possible in 2014?

The million or more people who will no longer be seeing unemployment checks – money that has kept food on the table – are unsure of how they will survive. However, the possible good news is that next week, as early as Monday, Senate Democrats will move to vote on a three month extension for unemployment benefits for the 1.3 …

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Unemployment: A Long Term Problem; No End in Sight

CNN Money reported recently about one woman’s struggle to find a job. Lena Rouse was an IT analyst at a regional bank and was laid off from her job. She has 2 Master’s degrees – one in business and one in IT. She has 22 years of work experience. And she spent all of 2013 unemployed in Columbus, Ohio, the …

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Unemployment Benefits Expire For 1.3 Million

This weekend, millions of Americans are suddenly going to stop receiving their unemployment benefits. The extended federal benefits plan expires this Saturday, the 28th, forcing 1.3 million to go without a source of income. These long-term federal benefits were created by President Bush in the recession of 2008, and since then have been extended 11 more times. The most recent …

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$11.50 Minimum Wage: Sound Nice?

Community leaders in Seattle have vocalized desires to raise minimum wage, and now leaders in Maryland have instigated the process to implement policies that increase wages. Presently, the federal minimum wage is set at $7.25 per hour though some states have set the level higher. On December 17, 2013, a representative from Prince George’s County signed a document to increase …

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World Economy To Continue Modest Growth in 2014

Since the economic downturn that began more than five years ago, the world economy has struggled to lurch forward. There are signs, however, that the global economy is beginning to pick back up, albeit slowly. Market research firm IHS today released top economic predictions for the coming year. Among them is the prediction that the global economy will grow 3.3% …

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