Stock market rallies in response to news
By Jonathan Goetz
The jobless recovery is adding jobs, slowly and steadily. April job numbers released by the US Bureau of Labor Statistics show the US unemployment rate at 7.5%, the lowest rate in four years. The main job growth was in retail and food services however, and not the same high-paying industries that saw major job losses in the Great Recession.
On Friday, the Dow responded to the positive hiring news by reaching 15,000 for the first time before closing at 14,972, up .9% from the opening bell. The S&P ended 1% higher, also breaking the record by reaching the 1,600 mark. Growth in US markets was spread over most industries, including the beleaguered steel industry, with three stocks closing higher for every one stock closing lower.
November 28, 2012 -- (San Diego’s East County)--East County Roundup highlights top stories of interest to East County and San Diego’s inland regions, published in other media. This week’s top “Roundup” headlines include:
- Refugee grateful for new life in new country (U-T San Diego)
- San Diego Congressmen get campaign contributions for domestic drone support (San Diego Free Press)
- Report: We’re in the midst of a housing recovery (U-T San Diego)
- Witness to deadly shooting by border patrol agent disputes official account (10 News)
- El Cajon working to reduce pedestrian deaths (U-T San Diego)
- Border economy to see greater emphasis under Filner administration (San Diego Free Press)
- David Copley dies at 60; heir to Union-Tribune fortune was once worth $1.2 billion ( La Jolla Patch)
- Republican activist seeks ouster of Tony Krvaric as GOP Chairman (Ramona Patch)
- New Lakeside fire station opens (East County Californian)
- El Capitan cross country team runs to state championship (East County Californian)
- Deputies break up 20-man brawl at Carlton Oaks bar (Santee Patch)
- Ocotillo: worker airlifted after falling ( IV Press)
- SDG&E makes last push to bill users for wildfires (U-T San Diego)
- Unemployment checks to stop for 400,000 Californians (U-T San Diego)
- Erin Brokovich town faces new threat from utility company (NPR)
- Democratic power in state capitol has its limits (Sacramento Bee)
- California elected officials set to take pay cut (Sacramento Bee)
- First cap and trade auction a bust for California budget (Sacramento Bee)
- California man accused in plot to join al Qaeda denied bail (Reuters)
Read more for excerpts and links to full stories.
- Israelis: Iran behind Bangkok bombings: coordinated attacks around the world (CNN)
- Israel warns US Jews: Iran could attack here (ABC)
- Heightened security in U.S. over Iran threat (ABC)
- Congressional negotiators reach tentative deal on payroll tax, unemployment benefits (Washington Post)
- Lobbyists sue Obama administration after being booted from boards (The Hill)
- Obama signs $63B FAA funding bill into law (The Hill)
- U.S. seeks to mine social media to predict future (UT San Diego)
- Alzheimer’s brain plaque ‘rapidly cleared’ in mice (BBC)
- How your cat is making you crazy (Atlantic)
Corporate Exec-Turned-Novelist Says It’s Never Too Late
By Sierra Severson
Nothing but the truth!
By Will Power
August 19, 2011 (San Diego)--Here's the definition: The liquidity trap, in Keynesian economics, is a situation where monetary policy is unable to stimulate an economy, either through lowering interest rates or increasing the money supply. Liquidity traps typically occur when expectations of adverse events (e.g., deflation, insufficient aggregate demand, or civil or international war) make persons with liquid assets unwilling to invest.
Nothing but the truth!
By Will Power
August 12, 2011 (San Diego) --The U.S. government says currently we have around 11% "unemployed." But that figure just means these people are receiving unemployment compensation. Millions of other Americans have given up on finding work, gone into premature "retirement", or simply dropped out of the job market completely. The real rate is over 20%.
What exactly is "work'?
July 29, 2011 (Sacramento) – Implementation began July 1st for AB 2058, legislation authored by Assemblyman Marty Block (D-Lemon Grove) and recently signed into law. The bill expands training and education options that unemployed workers can receive without losing their unemployment insurance benefits.
Bill introduced in response to problems faced by local constituents
October 4, 2010 (San Diego’s East County) – Governor Arnold Schwarzenegger has signed AB 2058, authored by Assemblyman Marty Block (D-Lemon Grove). The bill will help thousands of unemployed Californians upgrade their job skills by preventing individuals from being cut off from Unemployment Insurance (UI) benefits because they've enrolled in training programs to boost their employability.
PRESIDENT PLEDGES SUPPORT FOR WORKERS, MIDDLE CLASS, & COMPANIES THAT CREATE AMERICAN JOBS DURING LABOR DAY ADDRESSES
East County News Service
September 6, 2010 -- President Barack Obama has unveiled a plan to invest $50 billion in infrastructure projects to create jobs while rebuilding our nation's highways, building high speed rail, and creating a smart air traffic control system. The President made the announcement at LaborFest in Milwaukee before an enthusiastic crowd of working people. View video of the Laborfest speech.
He also gave a White House address in honor of Labor Day, affirming commitment to America’s workers. He outlined past and future steps to repair the economy and strengthen the middle class, cut taxes for working families, and provide tax breaks for companies that will create jobs in America. (Scroll down for full text of both speeches and the latest unemployment news.)
Democrats break Republican filibuster in Senate and win passage of bill
July 23, 2010 (Washingon D.C.) – President Barack Obama yesterday signed into law legislation to extend unemployment benefits for 2.5 milllion out of work Americans.
The law extends unemployment insurance through November for out-of-work Americans who have not yet exhausted up to 99 weeks of aid. Benefits will be retroactive to late May, when the last extension expired. Benefits vary by state but will average $310 per week.
By Tracy Emblem
February 11, 2010 (San Diego) -- Government is and should be in the business of stimulating the economy to help its citizens achieve national goals like putting people back to work. When Ike Eisenhower returned from Germany after World War II, he said we need an interstate highway system to move our people and goods coast to coast like Germany’s rail system. The same could be said today about rebuilding our country’s crumbling infrastructures.
4 San Diego Congressional representatives vote “aye”; Hunter votes “no”
September 24, 2009 (Washington D.C.)—San Diego Democrats Bob Filner and Susan Davis joined with Republicans Brian Bilbray and Darrell Issa in voting to stimulate the local economy and provide stability to American families by extending unemployment insurance benefits to those hit hardest by the recession. Rep. Duncan Hunter, who represents most of East County, voted against the bill.
The Unemployment Compensation Act of 2009 (HR 3548) will provide immediate assistance, extending relief to the estimated 314,000 workers who would otherwise exhaust their unemployment benefits by the end of September, and one million more whose benefits would run out by the end of the year.
By Charlavan Hart
I made a bold attempt today to find out some answers for a great many people right now about unemployment checks. It always seems to be a mystery that is unsolvable. Even though you are given a number to call for answers, it is ALWAYS busy. You are sometimes given an estimate on wait time but most often now, the recording tells you to call on another day.