After an upswing at the beginning of this year, the labor market is back in the doldrums. The latest report from the Bureau of Labor Statistics said the U.S. economy created just 114,000 jobs in September, and although the unemployment rate fell to 7.9 percent, the workforce remains shrunken. And even those gloomy numbers obscure the suffering of the long-term unemployed and the millions of workers who have dropped out of the labor force in the aftermath of the recession. Stay up-to-date on the state of the labor market with AEI’s economic experts, and find out their ideas for how to get America back to work.
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Democrats on the House Ways and Means Committee wrote a letter on the Tuesday before Thanksgiving to Rep. Dave Camp, Michigan Republican and Ways and Means chairman, urging him to devote some committee time to extending federal unemployment benefits.
Our 7.3 percent overall unemployment rate is painfully high. But for younger Americans - particularly young minorities - things are much worse. More than one in seven between age 16 and 24 can't find any job, full or part-time. For African Americans in that age group, it's more than one in four.
Soldiers returning from Iraq and Afghanistan today are as unlike those who returned from the war in Southeast Asia a generation ago as those soldiers were from the veterans of World War II.
The October jobs report showed a surprise spike in hiring with employers adding 204,000 jobs last month. Despite the good news, the unemployment rate rose to 7.3 percent. How is this possible? Paul Solman explains how the 16-day shutdown may have warped the numbers and what the data means for the overall economic recovery.
AARP—formerly known as the American Association of Retired Persons—recently released a report proclaiming that "Social Security Generates Nearly $1.4 Trillion in Economic Activity and Supports More Than Nine Million Jobs." As great as that sounds, AARP's study is fundamentally flawed.
Join AEI for a presentation by Nobel Prize–winning economist Peter Diamond, who will discuss research on the causes of the current unemployment crisis and the implications for policy design.