Senate debates the Unemployment Conpensation Extension Act

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Today, Tuesday 01/14, the Emergency Unemployment Compensation Extension Act will continue. As best as I can I will be watching the entire debate live. Updates as they happen!

 

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Nothing much so far. Some Democrats spoke first. Senator Reid noted that in this country the 67 Billionaires in this country increased their wealth on average by $2,000,000,000 each (that's a billion) last year. The rest of us, I don't have a $billion, lost $300 per week on average. He also stated, "Government has done so many good things. Let's not denigrate government." Senator McConnell wants job growth measures instead of an unemployment benefit extension. It seems that "job growth measures" means taxes cuts, and only tax cuts. He spoke how regulations on the coal industry in Kentucky are harming it. He and Ron Paul has put forward a plan to help the coal industry. Senator Durbin explained how unemployment benefit payments would be put back into the economy. It would seem that Republicans are attempting force the remove of the best of Obamacare for support of unemployment benefit extensions. Other attempts is to remove disability benefits for people making below a certain level, under $1000 per month, if they get money from the extended employment benefits. Also suggested is cutting of child benefits for multiple children, hard time catching that one. Senator Schumer stated these alternatives are punitive to the poor and people already struggling.

While not related to unemployment benefits extension, I am just calling it 1845 from here on out, a Senator, didn't catch name. Gave a spooky story of the Obamacare website. That argument is so flawed I can't believe they are going with that but that is for another forum.

[Sorry for the grammatical errors and if I miss state some of the debate. I do not do some intentionally. I am trying to listen and type and I don't have a transcript.]

 

[waltky]

Would think normal attrition accounts for it...

1,154,000 Fewer Americans Working Today Than 6 Years Ago
February 7, 2014 -- 1,154,000 fewer Americans are working today than six years ago, according to data from the Bureau of Labor Statistics.
In January 2008, 146,378,000 Americans 16 and over were employed, and now in January 2014, 145,224,000 are employed, a difference of 1,154,000.

91,455,000 Americans 16 or older did not participate in the nation’s labor force in January, meaning they neither held a job nor actively sought one. That's a 353,000 decline from December, but 172,000 more than November. The national labor force participation rate -- the share of Americans who had a job or were actively looking for one -- ticked up to 63 percent in January, from 62.8 percent in December.

In January, according to BLS, the nation’s civilian non-institutional population, consisting of all people 16 or older who were not in the military, a nursing home or other institution, reached 246,915,000 (number not seasonally adjusted). Of those, 155,460,000 participated in the labor force by either holding a job or actively seeking one. The 155,460,000 who participated in the labor force equaled only 63.0 percent of the 246,915,000 civilian non-institutional population.

Another 91,455,000 Americans did not participate in the labor force. These Americans did not have a job and were not actively trying to find one. Of the 155,460,000 who did participate in the labor force, 145,224,000 had a job, and 10,236,000 did not have a job were actively seeking one—making them the nation’s unemployed. The 10,236,000 job seekers were 6.6 percent of the 155,460,000 actively participating in the labor force during the month. Thus, the unemployment rate was 6.6 percent.

1,154,000 Fewer Americans Working Today Than 6 Years Ago | CNS News

See also:

Teen Unemployment: 20.7%, More Than Three Times the National Average
February 7, 2014 -- The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

The teen unemployment rate went up in January to 20.7% -- from 20.2% in December-- and is now more than three times the national unemployment rate of 6.6%, according to the latest data from the Bureau of Labor Statistics (BLS).

The national unemployment rate for youth, age 16 to 19, was 20.7% in November, three times the national average of 6.6%.

The BLS numbers show there were 1,140,000 people ages 16-19 unemployed in December. For January, that number was 1,147,000 -- an increase of 0.6%.

The teen unemployment rate (seasonally adjusted) has been in the 20s range (high and low) since October 2008. It hit a high of 27.3% in October 2010.

Teen Unemployment: 20.7%, More Than Three Times the National Average | CNS News

 

[waltky]

Racial disparity in joblessness...

White Unemployment: 5.3% -- Black Unemployment: 11.6%
May 2, 2014 – While the national unemployment rate in April was 6.3%, according to the Bureau of Labor Statistics (BLS), the rate for Black workers was almost double that at 11.6%, and the unemployment rate for white workers was less than the national rate, at 5.3%.

According to the Census Bureau, whites comprise 77.9% of the U.S. population and Blacks or African Americans make up 13.1% of the population.

Hispanics or Latinos, who make up 16.9% of the U.S. population, had a national unemployment rate of 7.3%, according to the BLS data.

The unemployment rate for teen workers, those 16 to 19 years old, was 19.1% in April, down slightly from 20.9% in March, according to the BLS.

White Unemployment: 5.3% -- Black Unemployment: 11.6% | CNS News