While most of the news has focused on the plight of mostly middle-class class workers affected by corporate bankruptcies, hiring freezes, job losses and foreclosure, those in the working-class are being hit even harder by the downturn. One of the industries devastated by job losses and cutbacks has been the service industry, especially those related [...]
According to an article in the Dallas Morning News, Governor Rick Perry is still fighting to kill legislation that would allow the state to accept more than a half-billion dollars in stimulus money for unemployment benefits. If the state of Texas accepts the stimulus money for unemployment insurance, they will be required to expand the [...]
According to an article in the Star-Telegram, the number of workers claiming unemployment insurance benefits rose from 613,000 to 640,000, which is slightly more than analysts' expectation of 635,000 new unemployment insurance clams. The article said: Economists are closely watching the unemployment compensation data because they believe a sustained decline in the number of initial [...]
According to an article in the Star-Telegram, you may be eligible COBRA health insurance subsidies if you suffered a job loss , even if you worked for a small business. The article said: Traditionally, most people who leave their jobs can stay on their former employer's health plan through COBRA, or the Consolidated Omnibus Budget [...]
According to an article in the Dallas Morning News, Texas employers experienced 47,100 job losses in March, 38,800 of those job losses were concentrated in the Dallas-Fort Worth area. The article said: Texas employers cut their payrolls by another 47,100 jobs in March, while the jobless rate rose to 6.7 percent from 6.5 percent the [...]
According to an article in the Star-Telegram, the number of unemployed people receiving jobless benefits exceeded 6 million for the first time ever. And that doesn't include the 2.1 million unemployed people receiving extended unemployment benefits under a program passed by Congress in 2008. Despite a slight drop in the number of new claims this [...]
According to an article in the Star-Telegram, Swiss bank UBS will implement 8,700 job losses in the US and Switzerland, to offset record losses in their business. The article said: Troubled Swiss banking giant UBS AG said Wednesday that it will slash its global work force of 76,200 people by more than 10 percent as [...]
According to an article in the Dallas Morning News, Fort Worth based AMR Corp., parent company of American Airlines Inc., lost $375 million (15 percent of its revenue) in the first quarter of 2009. The article said: "While lower fuel prices have provided a significant buffer against falling demand in 2009, the struggling economy and [...]
Things are looking mighty tough for the average American. Job losses, foreclosures, pay cuts, rising medical costs and inflation are threatening even those who are well connected, educated and have enjoyed relatively high salaries. In the past 10 years Americans have experienced prosperity on a scale unparalleled by other societies, yet within only a few [...]
According to an article in the Star-Telegram, 7.4 million Americans are unemployed if you include the 1.54 million Americans receiving extended unemployment benefits. The Labor Department said the tally of initial jobless claims fell to a seasonally adjusted 654,000, down from a revised 674,000 the previous week. Analysts expected claims to drop to 660,000. But [...]