Tag Archive for 5 Million

Could You Live on $300 a Week? How About $0? The 99ers Lose Their Insurance – Business – GOOD

Across the country, long-term unemployment insurance is drying up. Some 200,000 unemployed Americans lost access to government benefits earlier this month, most in California. All told, at least 500,000 people will fall off the rolls this year. This is going to be a problem. When workers who are eligible for unemployment insurance lose their jobs, the government…

Where Are Oil Prices Headed?

The uncertainty looming around worldwide economies sent oil prices sinking below $90 a barrel yesterday (Wednesday), a level not seen since October of last year.

Benchmark crude slid $1.95 Wednesday to finish the day at $89.90 per barrel.

The decline came on the heels of several weeks of slipping oil, sparked by a plethora of less than stellar economic reports. The concerning data mostly involved Europe’s ongoing sovereign debt saga.

Oil gained 0.5% in early afternoon New York trading Thursday, but the reasons for the rally were unclear.

“You don’t know if this is just a short-covering rally or the start of a more significant rally,” Andy Lebow, an oil analyst with Jefferies, told The Wall Street Journal. Lebow said that progress in the talks between Iran and Western powers about Tehran’s nuclear ambitions could have spurred Thursday’s price reversal.

If the gain isn’t maintained, however, prices could head closer to $85 a barrel.

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Improving Employment or Dead Cat Bounce

The real measure of sustained and sustainable improvement in the US economy isn’t just total employment; it’s full time employment. Part time jobs normally don’t pay enough to even pay the rent (The rent is too damn high.) let alone support a family. When business won’t invest in hiring full time workers, that may be…