Collected by the payroll processing firm ADP, the report has offered a more accurate first guess of the actual, final job numbers during the current economic crisis than has the Bureau of Labor Statistics’ initial release for the month. ADP has since switched its methodology a bit, but it’s definitely worth paying attention to. The…
Tag: economy
Weekly Address: Congress Must Act to Create Jobs and Grow the Economy
President Obama describes how the House of Representatives left town without finishing important work that would create jobs and strengthen our economy.
Why Barack Obama is winning
Obama’s durability, according to polling and interviews, is the result of a unique connection with voters as someone who broke racial barriers in 2008, his ability to evade much the blame for the recession and a brutally effective campaign. Romney’s inability to capitalize on trends with the economy and national mood that would normally create…
Timeline: Cutting Poverty and the Federal Deficit Is Possible
Our nation unequivocally boasts the resources to dramatically cut poverty while simultaneously cutting the federal government’s long-term deficit. Unfortunately, too many of our political leaders put these two goals at odds, arguing that the way to stabilize our fiscal outlook is to hand the bill to middle- and low-income Americans. The House Republican leadership, for…
The Facts on Immigration Today
The Obama administration has directed an unprecedented amount of resources to ensuring our southern border is secure and undocumented immigrants (criminal and noncriminal) are deported. In June 2012 the Department of Homeland Security announced they would allow DREAM Act-eligible youth to apply for deferred action, granting them protection against deportation and the ability to get…
Why isn’t Obama getting crushed right now?
Obama is the incumbent. The economy is growing at a moderate pace. There’s no serious third-party challenge. We’re not losing massive numbers of soldiers in a foreign war. And when you look at those fundamentals, the reality is this: Incumbent presidents very, very rarely lose under those conditions. I recently had to study this fairly…
Romney Adviser Struggles To Defend Campaign’s Major Economic Claim
Gillespie doesn’t even attempt to defend the substance of the claim because there is little substance to it. The 92 percent figure obscures the fact that many more men than women lost jobs in the recession, as Wallaces forces Gillespie to admit. The key is timing. Men tend to be concentrated in industries that were…
Economy has grown the most when Democrats have been in power
Earlier today, I linked to a Goldman Sachs research note arguing that the most fiscally conservative outcome in the 2012 election would be an Obama victory and Republican control of Congress. But their analysis was limited to deficit reduction. Last week, JPMorgan looked at this question using a broader lens: what happens to the economy…
Mark Zandi is feeling even sunnier about jobs in 2012 – The Washington Post
Add Mark Zandi to the growing chorus of economists who believe that the U.S. is finally headed for a real turnaround. The chief economist for Moody’s Analytics just revised his outlook for 2012, and the biggest change to his forecast involves the unemployment rate. Back in January, Zandi predicted that the rate, which is currently…
The GOP’s Economic Sabotage – Disinformation and Deliberate Destruction.
It was somewhere between hilarious and pathetic to watch Republicans respond to the positive jobs report last Friday. Some friends and I were counting the minutes until some Republican started casting aspersions on the Bureau of Labor Statistics (BLS), which compiles and releases the data. Sure enough, by early Friday afternoon, Tea Party Congressman Allen…
The Hannity Challenge: How To Make The Case That The Economy Is Improving
Sean Hannity pushed the myth that President Obama has made the economy worse, arguing that you could not “make the case” that it has improved during Obama’s watch. In fact, when Obama took office, he inherited an economy that was shrinking faster than it had in 50 years and that had lost 2 million jobs…
By the Numbers: 3.2 Million
In 2011, American businesses created the most jobs in any year since 2005. In fact, the private sector has added nearly 3.2 million jobs in the last 22 months. These numbers are proof that we are steadily climbing out of the worst economic downturn since the Great Depression. But we can’t stop now. We must…
Unemployment Claims Drop; Trade Gap Narrows
The number of people who applied for unemployment benefits last week fell by 10,000 to a seasonally adjusted 390,000, the Labor Department said Thursday. That’s the fewest since April. The U.S. trade deficit narrowed to $43.1 billion in September, its lowest point of the year, the Commerce Department said. Foreign sales of American-made autos, airplanes…
U.S. Employers Post Most Job Openings In 3 Years
U.S. employers advertised more jobs in September than at any other point in the past three years. The increase suggests hiring could pick up in the next few months. Competition for jobs is fierce. And many employers aren’t rushing to fill some because they are worried about the strength of the economy. Still, most economists…
The White House Wants Your Advice
We know that some of the best ideas will come from outside Washington, and that’s why we want to hear from you. If you have an idea for something President Obama can do or know of a program in your community that needs to go nationwide, use this form to let us know. Over the…
As Obama Vents, His Poll Numbers Get A Bump
That rise coincides with the presidents monthlong nationwide campaign pressing Congress to pass his stalled jobs bill. His latest stop in that effort was in Washington on Wednesday, and it came on the eve of a vote in which Senate Republicans are expected to block a key part of his jobs bill. As…
GDP Grew At 2.5 Percent In The Third Quarter
According to the latest data from the Bureau of Economic Analysis, the U.S. economy grew by 2.5 percent in the third quarter, an improvement over last quarter’s 1.3 percent growth. This quarter’s growth is right in line with analysts’ expectations. via GDP Grew At 2.5 Percent In The Third Quarter | ThinkProgress.
Vatican Calls For Economic Equality, Sweeping Reform Of Global Financial System
With protesters taking to the streets around the world to fight for better income equality and economic opportunities for the poor and middle classes, the Vatican called Monday for an overhaul of world’s financial systems and a return to a global economy based on ethical behavior and “achievement of a universal common good,”…
Cantor To Give Speech On Income Inequality And ‘How We Make Sure The People At The Top Stay There’
Cantor announced today that he will give an address on income disparity “and how Republicans believe the government could help fix it” on Friday. According to his aide, Cantor will specifically focus on how Washington can help “a single working mom…a small business owner..and how we make sure the people at the top stay there.”…
The jobs debate on Earth 2
“Republicans,” McCain said on Earth 2, “have a better idea than more tax cuts and government spending. The economy isn’t growing because households are buried under mortgage debt. So we propose to attack the problem at the source. On the advice of Harvard’s Martin Feldstein, we are introducing legislation that would empower the…