Posts Tagged: it’s the economy

Nothing Will Ever Be Good Again

For more than a century, the pace of growth was reliably resilient, bouncing back after recessions like a car returning to its cruising speed after a roadblock. Even after the prolonged Great Depression of the 1930s, growth eventually returned to an average pace of more than 3 percent a year. But Treasury Secretary Jacob J. Lew, citing the Congressional Budget Office, said on Wednesday that the government now expected annual growth to average just 2.1 percent, about two-thirds of the previous pace.

Perhaps, after you have imported your dreams directly into an Oculus Rift, you could grant Facebook the rights to them in perpetuity in exchange for a single [...]


Price Of Working For Free A Little Less Absurdly High Than It Was Last Year

"While dropping $9,000 to work – for free! – at the Huffington Post is certainly a lot of money, it's actually down from last year's winning bid of $13,000."


Easter Is Really Screwing Up The Labor Department's Month

For the second straight week, Labor Department economists are ascribing an uptick in the number of initial jobless claims to Easter-the 18,000-claim gain for the week ending April 3 was attributed to the holiday coming up, while the 24,000 increase for the week ending April 10 was blamed on both Easter and Cesar Chavez Day. The latter is a state holiday in California, which The Wall Street Journal referred to in its report as "worker-heavy." (Ironically? Who even knows!) According to Bloomberg this is actually the second of three weeks that Easter will muck up the jobless-claim stats, thanks to its floating-holiday status making it tough to seasonally [...]


The Infographics Have Turned on Us

Nearly everything about The Upshot's new infographic blockbuster, "How the Recession Reshaped the Economy, in 255 Charts" is grim: Your industry is probably doomed—vocational rehabilitation services, a seemingly highly relevant field in this post-recession, godforsaken labor market, has not recovered—unless you make apps, or wrench natural resources out of our deteriorating planet in order to power the computers on which the apps are made, or you sell truffle-laced chocolate bars to the people making the apps, or brown liquor to the people who aren't making the apps and trying to get by, perhaps a construction worker or a print journalist or a factory worker. There are two hundred [...]


Credit Report Crafters Nervous About Their Profits Being Legislated Away

TransUnion is fighting tooth and nail to prevent legislation that would prevent employers from using credit histories during the course of employment screening, what with the economy being as lousy as it is and people being more likely to have dings on their records these days. The company is even going so far as to attempt sleights-of-language in their efforts! The problem, of course, comes when that sort of trickery actually works, as it almost did with one poor Illinois legislator who apparently didn't understand the specific reasons for the bill's existence before allowing a lobbyist to goad him into suggesting some modifications.


She'd Better Get A Generous Severance Package For This

Today's feel-queasy story: An employee of Lathrop, Calif., gave up her job in the city's finance department in order to save the position of a 60-year-old accountant who was faced with becoming one of 11 municipal layoffs. "I could cope with the loss of a job better than my co-workers," Patricia Overy told the Lathrop City Council during a meeting where the reductions in workforce were being discussed. The response from the mayor? "'Thank you' just doesn't do it." Uh, you think?


Is "Volunteer Flight Attendants" A Less Quease-Inducing Term Than "Scabs"?

In preparation for a possible strike by American Airlines' flight attendants, with whom the company is negotiating a new contract, AA is scouring the greater Dallas-Fort Worth area for 4,000 of what it's calling "volunteers" who can undergo a 17-day training program and then report to the skies for snack-handling and pillow-distributing duties. The word "volunteers" doesn't imply "no pay" to just me, does it? Or is it just American's attempt to appear all "let's roll up our sleeves and get to work, comrades" about what looks to be a somewhat pitched battle between labor and management? [Pic via]


America's Cats: The Voiceless Victims Of The Recession

A USA Today overview of the way people are pinching pennies speaks to one Leigh Gostowski, a Tennessee resident who's decided to cut back on her spending habits. Gone are the $200 weekly shopping sprees at Macy's and Dillards; they've been replaced by book clubs and needlepoint circles and actually spending time with friends! "I know it will be a permanent change in my life because I enjoy it so much more," Gostowski says of her new, thrifty ways. But no one thought to ask her cats if they were enjoying their owner's new outlook on life!