New York Times (August 17)
In the UK, “the thousands who were arrested last week for looting and for more violent crimes should face the penalties that are prescribed by law.” It is, however, petty and misguided to try to further persecute them as Prime Minister Cameron has suggested by “cutting off government benefits even to minor offenders and evicting them.” The Prime Minister should focus on restarting the economy and creating jobs. “Making poor people poorer will not make them less likely to steal. Making them, or their families, homeless will not promote respect for the law. Trying to shut down the Internet in neighborhoods would be an appalling violation of civil liberties and a threat to public safety, denying vital real-time information to frightened residents.”
New York Times (July 15)
The U.S. keeps “blundering toward recession” and haggling over the debt limit is only part of the problem. The deficit is a serious, but not immediate, problem. “It can be solved over time, with spending cuts and tax increases, as the economy recovers.” The immediate problem is job creation. “It is time for the government to step up. If it doesn’t, the weakening economy is bound to become even weaker.”
Wall Street Journal (July 9)
Unemployment is a lagging indicator. That is perhaps “the best that can be said for yesterday’s June jobs report.”Just18,000 new jobs were created and the jobless rate increased to 9.2%. If employment is about to turn the corner, it will be none too soon. “In this recovery we are still seven million jobs below peak employment in 2008.”
Tags: Jobs, Recession, U.S., Unemployment
New York Times (June 12)New York Times (June 12)
Chairman of the Federal Reserve Ben Bernanke stated “growth will recover later in the year as gas prices fall and the effects of the Japanese tsunami fade.” “Too-easy,” the Times says of his answer. “Even if temporary setbacks were to blame, the economy’s inability to take hits without backsliding is a sign of underlying fragility.” Big federal budget cuts should be delayed while measures to stimulate the economy, like job creation and mortgage relief for homeowners, should be undertaken.
Chairman of the Federal Reserve Ben Bernanke stated “growth will recover later in the year as gas prices fall and the effects of the Japanese tsunami fade.” “Too-easy,” the Times says of his answer. “Even if temporary setbacks were to blame, the economy’s inability to take hits without backsliding is a sign of underlying fragility.” Big federal budget cuts should be delayed while measures to stimulate the economy, like job creation and mortgage relief for homeowners, should be undertaken.
The New York Times (May 7)
The U.S. added 244,000 jobs in April, but the jobless rate rose because even more people left or lost jobs. The “contradictory employment data raise questions about the economy’s momentum,” demonstrating the need for additional job creation programs, rather than government budget-cutting. “Job growth is not taking off. At the current monthly rate, it would take more than five years to return to the pre-recession unemployment rate of 5 percent in December 2007.”
Tags: Budget, Jobs, U.S., Unemployment
The Wall Street Journal (July 20)
The U.S. unemployment rate stands at 9.5%. Nearly 45.5% of those without jobs, a record 6.7 million, have been out of work for six months or longer. President Obama is calling on Congress to extend unemployment benefits. The Wall Street Journal, however, objects. Extending benefits keeps “people out of the job market” by encouraging them to wait for better jobs.
Tags: Jobs, U.S., Unemployment
