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Vanishing Jobs

March 13, 2009 • Volume 19, Issue 10
Will the president's plan reduce unemployment?
By Peter Katel

Introduction

Laid-off Yahoo! employees remove their personal belongings from the Sunnyvale, Calif., offices on Dec. 10, 2008. The firm's 1,500 job cuts are among 4.4 million layoffs that have occurred so far in the current recession. (AP Photo/Paul Sakuma) Laid-off Yahoo! employees remove their personal belongings from the Sunnyvale, Calif., offices on Dec. 10, 2008. The firm's 1,500 job cuts are among 4.4 million layoffs that have occurred so far in the current recession. (AP Photo/Paul Sakuma)

The news is grim and getting grimmer. The jobless rate recently hit 8.1 percent — the highest level in a quarter-century. American workers lost 651,000 jobs in February alone. All told, more than 12.5 million Americans are jobless — including 2.9 million who have been unemployed for at least 27 weeks. The nation is banking on the Obama administration's newly enacted, $787 billion “economic stimulus” bill to spark job growth through government spending on infrastructure projects and other programs. Conservatives argue that the spending won't help, and some liberals say the magnitude of the crisis calls for still more stimulus money. The huge spending measure also includes funds to encourage states to expand eligibility for unemployment insurance, though some governors are resisting on the grounds that their states will wind up footing future bills. With no quick turnaround predicted, creating or saving jobs will remain the top priority for President Barack Obama and the millions of citizens counting on his administration's rescue plan.

ISSUE TRACKER for Related Reports
Unemployment
Mar. 06, 2012  Youth Unemployment
Jul. 31, 2009  Straining the Safety Net
Apr. 10, 2009  Business Bankruptcy
Mar. 13, 2009  Vanishing Jobs
Apr. 25, 2003  Unemployment Benefits
Jan. 21, 1994  Worker Retraining
Sep. 09, 1988  Help Wanted: Why Jobs Are Hard to Fill
Mar. 18, 1983  The Youth Unemployment Puzzle
Dec. 24, 1982  Federal Jobs Programs
May 28, 1982  America's Employment Outlook
Jun. 27, 1980  Unemployment Compensation
Oct. 14, 1977  Youth Unemployment
Jul. 11, 1975  Underemployment in America
Dec. 16, 1970  Unemployment in Recessions
Mar. 05, 1965  Unemployment Benefits in Times of Prosperity
Apr. 03, 1964  Overtime Pay Rates and Unemployment
Feb. 01, 1961  Unemployment and New Jobs
Jan. 07, 1959  Lag in Employment
Apr. 16, 1958  Emergency Jobless Aid
May 16, 1956  Lay-Off Pay Plans
Nov. 12, 1953  Jobless Compensation in Boom and Recession
Feb. 25, 1949  Defenses Against Unemployment
Jul. 30, 1945  Full Employment
Nov. 25, 1940  Unemployment Compensation
Jul. 10, 1939  Problem of the Migrant Unemployed
May 19, 1936  Unemployment and Recovery
Sep. 02, 1931  Public Employment Exchanges
Aug. 19, 1929  The Stabilization of Employment
Feb. 21, 1928  The Employment Situation in the United States
Jan. 23, 1926  Unemployment Insurance in the United States
BROWSE RELATED TOPICS:
General Employment and Labor
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