As Unemployment Falls, ‘Biggest Risk’ To Job Growth Is ‘Self-Inflicted Damage From Bad Policy Decisions’

Despite steady job growth in November, policies like those being debated as part of the so-called “fiscal cliff” negotiations in Washington could damage further employment gains, progressive economists and analysts say. The U.S. economy added 146,000 jobs last month, and the national unemployment rate fell to 7.7 percent, its lowest level since December 2008, the time of the financial crash, according to data released Friday by the federal government. “Despite the devastation from Hurricane Sandy, the U.S. economy showed remarkable resilience adding 146,000 jobs in November. The economy continues heading in the right direction, though still not fast enough. The biggest risk to a stronger labor market remains the potential for self-inflicted damage from bad policy decisions,” says Adam Hersh, … Continue reading

Labor Chief Blames GOP For Poor Jobs Growth

One of the nation’s most prominent labor leaders is blaming Republicans for poor jobs growth, saying that “the economy is simply not delivering right now.” The nation added just 80,000 jobs in the month of June, while the unemployment rate remained unchanged at 8.2 percent, according to new data from the federal government out Friday. “The trend of slow job growth is both frustrating and heartbreaking. The economy added only 80,000 net new jobs last month – not nearly enough to bring unemployment down and fuel a robust recovery,” says Richard Trumka, head of the AFL-CIO labor organization and often a key ally for President Obama. “Republicans in Congress have responded to a massive jobs shortage and weak economy with … Continue reading

Progressive Leader: Trustees Report Points To More, Not Less, Health Reform

Prominent conservatives are wrong when they blame healthcare reform for Medicare’s budget woes, according to the head of a progressive Washington policy shop. Rather, Medicare would be better off with more government financing — not less, he adds. The trustees of Social Security and Medicare on Monday released their latest report. Rep. Paul Ryan (R-Wis.), the powerful chairman of the House Budget Committee, was quick to allege that the 2010 healthcare reform law “raids over $500 billion from Medicare to finance a new health care entitlement, and hands Medicare’s fate over to an unaccountable board of 15 unelected bureaucrats.” Not true, says Roger Hickey, co-director of the Campaign for America’s Future. “Those who have always wanted to cut Social Security … Continue reading