Congressional Budget Office

New unemployment claims rose last week to 1.4M, ending months of declines

Leave a Comment / unemployment / By max cyril

The Department of Labor data will likely fuel the urgency in Washington to quickly extend enhanced federal pandemic unemployment benefits. Unemployment claims rose to 1.4 million last week, up about 100,000 from the week before, the Labor Department reported, ending 15 weeks of consecutive declines in new applications. An additional 975,000 people applied for aid …

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Employment won’t recover for a decade, CBO says

Leave a Comment / Employment / By max cyril

The economic outlook for the next 10 years has “deteriorated significantly” since the CBO issued its last complete set of projections in January. The nation’s unemployment rate will remain stubbornly higher for the next decade than it was before the pandemic, while economic output will be depressed for years under current tax and spending policy, …

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This week in the war on workers: What happens if Obama’s overtime expansion is reversed?

Leave a Comment / President Obama, President Trump / By max cyril

President Obama’s expansion of overtime pay goes into effect on December 1. But what happens if it gets rolled back in 2017? Here are some of the Department of Labor’s takeaways from a Congressional Budget Office report: CBO finds that reversing the rule would strip nearly 4 million workers of overtime protections. According to the report, …

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A Decade of High Unemployment & Falling Wages… Or We Could Create Jobs & Help our Cities

Leave a Comment / unemployment / By max cyril

Left to itself, the U.S. economy may not return to its pre-recession rate of unemployment until 2021, says a new study from the Center for Economic and Policy Research. Even under the more optimistic growth assumptions of the Congressional Budget Office, we’ve got five more years of high unemployment coming, as CEPR notes. If that’s …

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Congressional Budget Office

New unemployment claims rose last week to 1.4M, ending months of declines

Employment won’t recover for a decade, CBO says

This week in the war on workers: What happens if Obama’s overtime expansion is reversed?

A Decade of High Unemployment & Falling Wages… Or We Could Create Jobs & Help our Cities

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Madeline Messa