Unemployment Extension: 100K Drop In Job Openings Says Labor Dept
By Audrey Howard on July 16, 2010, 7:59 amThe Labor Department announced this week that the Job Openings and Labor Turnover Survey for May showed layoffs had increased and job openings had fallen to 3.2 million. This is a 100,000 decrease from the 3.3 million reported in April and seems to indicate reluctance on the part of employers to increase their labor force. While May’s numbers are good compared to the lowest point in the recession when job openings fell to 2.3 million, these numbers are still very low compared to job openings prior to the recession which averaged 4.5 million per month. These combined factors have raised concerns that the economic recovery may be slowing down.
Industry Specifics
Both the manufacturing industry and the retail industry have shown a decrease in hiring from the previous 3 months. Manufacturing for instance only showed an increase of 1,000 jobs during May compared to increases of 14,000 per month from February through April.
New Jobs
As for new jobs, the economy added only 83,000 new jobs in May compared to 200,000 per month in March and April. In order to keep up with the increase in the working population, our economy requires 100,000 new jobs per month. In order to lower the unemployment rate, we need an additional 100,000 (about 200,000 per month). The unemployment rate currently sits at 9.5%. If we are only adding 83,000 new jobs per month, we are losing ground.
Small Business
Small business hiring accounts for 60% of new jobs in our economy and the difficulty these businesses are having getting loans that allow them to expand their workforce is being cited as one of the major factors in the low job openings of May. In response to this, Federal Reserve Chairman Ben Bernanke urged banks on Monday to increase loans to small business saying that it “is crucial to our economic recovery”.
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I guess I would be one of those 99ers that got cut off early ! I tried to pick myself back up, did take another job and was laid off after 17 weeks due again to this economy. Well after going thru tiers 1-4 looks like I dont get the addtional 20 weeks from FED ED to make even my 99 weeks. Why ? because I took another job that messed with my base period. Nice ! The following is the reply from EDD about FED ED for me :
The only extension that you have not collected on is the 20 week FED-ED. You don’t qualify for that extension because, unlike the other extensions, it is based on your most recent, valid claim. The claim had to have at least 20 weeks of benefits in it to qualify for the FED-ED and your last valid claim had 17 weeks.
THESE TIERS WERE SET UP TO CONFUSE (CHEAT) PEOPLE!!!! THESE MONIES ARE BEING SKIMMED OFF BY YOUR SENATORS!!!! UP HERE IN PA. THEY TELL YOU TO KEEP FILING YOUR PAPER CLAIMS BUT REFUSE TO SEND YOU THE PAPERS!!! THE FED’S ARE ALREADY UP HERE JAILING OUR CROOKED JUDGES, NOW IT’S TIME TO LOOK AT OUR CROOKED SENATORS AND GOVERNOR!!!!
Small business NOW accounts for 60% of the new hires. Prior it was major corporations. However with them offshoring work, it’s on the back of small business to employ 15 million people. Roughly equal to the amount of jobs that have been offshored over the past 10 years.
Yet we still give the bulk of our consideration in tax incentives to major corporations and with these offshoring tax loopholes in place, every dollar we give to them in incentive is just transferred to their actual production areas of China, Brazil, Poland, South America, India, etc.
We need to plug the hole in the offshoring tax loopholes and then we can see American jobs come back to America.
Time for a REVOLUTION folks.Lets clean the house!
Somebody needs to clean house with all the useless redrick they feed people who pay them!!
Its a real shame.
Additional, Unemployment Bureau, since Bill was not Passed there is No Requisition for Filing Weekly claims, thus with Passing there will not Be a Retro-Active for the 99er’s and Claims Therefore After. With the Drop of Claims this indicates a decrease of Joblessness. There is still Admission to the Impossible Employment Figures projected by Obama. Again, A cover for the Funds allocated Unconstitutionally to the Hamas, Extended Future Bills, Millions to the Shiite. but there is No Funding For The American Unemployed.
I feel badly for the “99ers” because they are being cast aside as worthless. EVERYBODY whose job was eliminated due to the bungling of the governmental officials should be receiving benefits.THEY screwed up this country with NAFTA and other so-called “benficial” programs which were supposed to drive the economy upward. Someone made a lot of money off this crap but it certainley wasn’t the working folks!
The Senate is full of thieves whose only purpose in being there is to enrich themselves. did you know that the average Senator makes upwards of $174,000.00 a year in salary, has a very generous expense account and a medical plan for all in the family! Who pays for this? We do! That’s why the Senate doesn’t want to pass the extensions. They fear that there will be no more left for their next raise!
CAN YOU SAY LOCK AND LOAD IF YOU WANT TO LIVE OR DIE TRYING………….REVLOTION IS AT HAND