Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

1/10/2014 (2 years ago)

Catholic Online (www.catholic.org)

'Even if we did have 200,000 jobs a month, we would need five years to get there,' analyst says

Christmas brought little joy - and New Year's brought little hope for the nation's unemployed. Hiring declined in December. The U.S. economy added only 74,000 jobs, the weakest month for job growth since January of 2011. Economists had expected an addition of 193,000 jobs.

Many Americans have given up on ever finding gainful employment.

Many Americans have given up on ever finding gainful employment.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

1/10/2014 (2 years ago)

Published in Business & Economics

Keywords: Business, economy, job creation, job growth, unemployment


LOS ANGELES, CA (Catholic Online) The disappointment was thick and palatable. For all of 2013, the economy added 2.2 million jobs, which was on par with 2012's gains.

Some economists are holding out hope. They expect the government to revise the numbers higher in the months ahead. "Just about every other measure of job growth suggests that employers are either hiring or intending to hire, extending hours and laying off fewer people," Tim Hopper, chief economist for TIAA-CREF says.

Job creation may have been affected by the unusually cold weather. "Unusually cold weather in parts of the country" could have had some impact on construction jobs for example, which lost overall 16,000 jobs in December.

The unemployment rate fell to 6.7 percent in December, but event hen, that decline came mainly from workers leaving the labor force.

Other factors such as retirement, enrolling in educational programs or taking care of relatives may have played into these statistics.

There are still many more people who have simply given up on ever finding a job. Only 62.8 percent of the adult population is participating in the labor market now, the lowest levels since 1978.

In the job market's 2007 heyday, unemployment was under five percent, but in the two years that followed, the recession wiped out 8.7 million jobs. Not all of those jobs have returned in the interim.

"We're going to have a long-term unemployment crisis for a long time," Heidi Shierholz, economist with the Economic Policy Institute says.

The winter is due to become much colder for 1.3 million Americans who received their final check in federal unemployment benefits last week.

The haggling over budget cuts versus aid to the still fragile economy exemplifies the ongoing tension between Washington policymakers.

Shierholz calculates it could take even longer to get to a pre-recession job market, when unemployment was below five percent. "Even if we did have 200,000 jobs a month, we would need five years to get there," she said.

Pope Francis calls for your 'prayer and action'...

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2015 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for February 2016
Universal:
That prisoners, especially the young, may be able to rebuild lives of dignity.
Evangelization: That married people who are separated may find welcome and support in the Christian community.



Comments


More Business & Economics

ECONOMIC DISASTER LOOMS: Wave of bankruptcies threaten global stability Watch

Image of A leading monetary theorist, William White says that the

By Catholic Online (CALIFORNIA NETWORK)

Waves of bankruptcies worldwide will severely test the world's economic and social stability, Swiss-based chair William White warns. A leading monetary theorist, White says that the "situation is worse than it was in 2007. Our macroeconomic ammunition to fight ... continue reading


Here's what they're really talking about at Davos -- it's not what they want you to think Watch

Image of The world economy is about to tank, or so it seems from the talk at Davos.

By David Drudge (CALIFORNIA NETWORK)

The agenda for Davos is about the future, and is intended to be optimistic, but discussion between the attendees is worrisome as they focus on serious, near-term financial threats. The world economy is on the brink and there are few tools left to fight recession. LOS ... continue reading


GRIM FORECAST: What jobs will be lost in the next FIVE years? A new report has shocking bad news for YOU Watch

Image of The Fourth Industrial Revolution will create a lot of casualties. How are we to cope?

By Marshall Connolly, Catholic Online (CALIFORNIA NETWORK)

A new paper released ahead of the World Economic Forum in Davos predicts that women in particular are at serious risk of losing their jobs within the next several years due to the emergence of new technology. The changes in the marketplace will hit wealthy countries ... continue reading


Retail giant Wal-Mart closing 269 stores in U.S. and Brazil Watch

Image of Of the closures announced Friday, 154 locations will be in the U.S., including the company's 102 smallest-format stores called Wal-Mart Express.

By Catholic Online (CALIFORNIA NETWORK)

Wal-Mart, the uncontested retail giant is just as susceptible to the difficulties of market demands as anybody else is. Wal-Mart has announced that it will be closing 269 markets in both the United States and Brail, the latter the result of a souring economy. ... continue reading


More than $5,000 in taxes collected for every U.S. worker - government still IN DEFICIT Watch

Image of There were 147,439,000 people employed in the United States in December 2014.

By Catholic Online (CALIFORNIA NETWORK)

In what should come as no surprise - tax revenue generated for the first three months of fiscal 2016 -- October through December of 2015 - set an all time record. This did not translate in a reduction of the federal deficit. The Internal revenue Service ... continue reading


U.S. economy to suffer because of China collapse Watch

Image of Chinese markets slid on Thursday, forcing a shutdown.

By Marshall Connolly, Catholic Online (CALIFORNIA NETWORK)

Another day of losses has hit markets around the globe, starting with a slide so fast and so deep in the Chinese markets that trading was halted. The ripples of the Chinese collapse are being felt around the world with U.S. markets dropping at least 1 percent. LOS ... continue reading


World's richest will meet in Davos, to decide how best to DISPOSE of you Watch

Image of The language of the forum is very benevolent, but make no mistake, the people gathering there don't have your best interest in mind. If they did, the world would be a much different place --and they wouldn't need snipers.

By Marshall Connolly, Catholic Online (THE CALIFORNIA NETWORK)

The Davos men are coming, and guess what's on their agenda? How they will carve up the new world created by the Fourth Industrial Revolution. LOS ANGELES, CA (California Network) - Known formally as the World Economic Forum, the annual meeting of the world's most ... continue reading


NOT-SO FUNNY MONEY: Weird currency in Israel collages American $100 bills with jihadist leaders Watch

Image of Israeli police are investigating the origin of the bills, which was being sent for a forensic analysis.

By Catholic Online (CALIFORNIA NETWORK)

Odd "play money" that collages the American $100 bill with photos of jihadist group leaders have been discovered in northern Israel. Discovered in the northern Israeli town of Sde Eliezer, authorities are stumped to the bills' origin and purpose. LOS ANGELES, ... continue reading


Greedy CEO loses $500 million in failing Obamacare investment Watch

Image of The CEO of United Healthcare invested in ObamaCare last year and will reportedly lose $500 million

By Kenya Sinclair (CALIFORNIA NETWORK)

In 2014, United Healthcare CEO Stephen Hemsley invested in ObamaCare. Today, he realized the decision would cost an estimated $500,000,000 over the next two years. LOS ANGELES, CA (Catholic Online) - By investing in ObamaCare, United Healthcare was able to lower ... continue reading


Three BILLION barrels of excess oil available now - but is this a good thing? Watch

Image of Inflated inventories and oil wealth has spread globally, from the United States to the developed economies of Europe, and now China, according to the agency.

By Catholic Online (CALIFORNIA NETWORK)

With the price of gas comfortably lower than $3 a gallon at many gas pumps across the land, consumers are enjoying a price break. The reason behind this windfall is largely because there are now more than three billion barrels of excess oil in the world. This ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

Daily Readings

Reading 1, First Kings 3:4-13
4 The king went to Gibeon to sacrifice there, since that was the ... Read More

Psalm, Psalms 119:9, 10, 11, 12, 13, 14
9 How can a young man keep his way spotless? By keeping your ... Read More

Gospel, Mark 6:30-34
30 The apostles rejoined Jesus and told him all they had done and ... Read More

Saint of the Day

Saint of the Day for February 6th, 2016 Image

St. Paul Miki
February 6: Paul was the son of a Japanese military leader. ... Read More