Posts Tagged News
The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in construction, manufacturing, and retail trade.
Household Survey Data
In October, the number of unemployed persons increased by 558,000 to 15.7 million. The unemployment rate rose by 0.4 percentage point to 10.2 percent, the highest rate since April 1983. Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (10.7 percent) and whites (9.5 percent) rose in October. The jobless rates for adult women (8.1 percent), teenagers (27.6 percent), blacks (15.7 percent), and Hispanics (13.1 percent) were little changed over the month. The unemployment rate for Asians was 7.5 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks and over) was little changed over the month at 5.6 million. In October, 35.6 percent of unemployed persons were jobless for 27 weeks or more. (See table A-9.)
The civilian labor force participation rate was little changed over the month
at 65.1 percent. The employment-population ratio continued to decline in October, falling to 58.5 percent. (See table A-1.)
The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in October at 9.3 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
The bottom line for me as I watched this segment is this: A person on their own is unlikely to get through the bureaucracy. What we are doing is essential!
The NewsHour goes from strength to strength. Have you noticed that it can and does “Get” anyone they want now. For those who have something to say – in this case Mr Bernanke, know that they will get a real hearing. When I think of all the news resources in public media – TV and Radio – if you put it together – we have an incomparable system.
The trouble is that with “Appointment Radio/TV” you can’t put it all together. In the past if you missed the News Hour, or Bill Moyers, or Charlie Rose, or ATC or ME – you missed it. In the last 2 years, you could go to many of the web sites for the show and get a stream. Front Line was one of the first to offer this. BUT YOU COULD NOT FIND IT ALL IN ONE PLACE.
By the late fall of 2009, you will be able to find it all in one place – but it is up to us at the local stations to offer this place.
How hard would it be to aggregate the best of the financial news on this site?
I see a site where we offer:
- The best citizen content and personal stories that we have picked up by asking for it via Twitter and Facebook – Planet Money does this already
- The best local content made by the local station – all you need to do is to expand what you are doing now
- The best national content from the public system – it will all be ready for this in the fall
- To make a national exchange of such content really easy – hyper-local/personal – local – national PRX??
How hard would this be? What would be the payoff?
Bueller? – Bueller?
We all so want things to get better that I think we fall for surface news “Signs of Green Shoots!” type of headlines.
But it is hard to pass off simplistic hopes when those who report the story live the same experience as the audience.
The emerging story as told by many Public Stations is Unemployment.
Unemployment is what is now driving foreclosure. Here is how KVCR has found the correlation:
Much of the job loss is also worrying because it is structural – the web and other factors mean that many of the lost jobs will never come back.
So for me – a new area where we must start to talk is how do we reinvent the economy? How do we create entirely new types of work and hence jobs?
Has this conversation started in your city?