Tag Archives: jobs

Swedish city embarks on 6-hour workday experiment

Swedish city embarks on 6-hour workday experiment
A Swedish city has embarked on an experiment in limiting the workday to six hours in an effort to improve productivity. A section of employees of the municipality of Gothenburg will now work an hour less a day than the seven hours customary in the Scandinavian social democracy famed for its ... Read more

Americans Need Real Debate About the Fed

Americans Need Real Debate About the Fed
Most Americans likely have only a vague idea of what the Federal Reserve Board is and does for the economy. A substantial portion of the public has probably at least heard of Janet Yellen, the new chairwoman of the Fed. This is in large part because, as the first woman to be appointed to the position, ... Read more

It’s Still Bad for the Long-Term Unemployed

It’s Still Bad for the Long-Term Unemployed
At first blush, it’s great news. The number of long-term unemployed Americans – meaning those out of a job for more than six months – has dropped to 3.7 million in March from a high of 6.8 million in April 2010. The ranks of the long-term jobless have plummeted by 837,000 over the past year alone, helping to drive down the unemployment ... Read more

Money, Money, Everywhere

Money, Money, Everywhere
A Tale of Two Cities , the novel by Charles Dickens, begins with the famous words, “It was the best of times, it was the worst of times.” In America today, it is the best of times for multinational corporations and their CEOs. But for ordinary people, it’s pretty bad, and getting worse. For non-corporeal entities, times ... Read more

The End of Jobs?

The End of Jobs?
The subject of a universal basic income is coming up a lot these days; former Labor Secretary Robert Reich endorsed it last week in a talk at San Francisco State University, calling it “almost inevitable” in the face of technologically-induced job loss. A basic income would serve as something more than a safety net in troubled ... Read more

The education-wage disparity continues to grow

The education-wage disparity continues to grow
The jobless rate of Americans ages 25 to 34 who have only completed high school grew 4.3 percentage points to 10.6 percent in 2013 from 2007, according to Bureau of Labor Statistics data. Unemployment for those in that age group with a college degree rose 1.5 percentage points to 3.7 percent in ... Read more

“Vulture Fund” Wreaks Havoc With Jobs

“Vulture Fund” Wreaks Havoc With Jobs
Private equity firm Cerberus Capital Management has agreed to acquire Safeway, the second largest grocery store in the US, for $9.4 billion. Albertsons, another Cerebrus-owned supermarket chain, would take over the California-based Safeway, creating an unprecedented rival to Kroger, the largest supermarket ... Read more

A Healthy Economy Cannot Rest on Financialization

A Healthy Economy Cannot Rest on Financialization
“I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.” —Paul Volker (2009) All of us suspect the obvious — that Wall Street not only is too big to fail, but also just too damn big. But where's our evidence? ... Read more

You Call This a Middle Class?

You Call This a Middle Class?
The Bureau of Labor Statistics conducted a study of workers who were laid off during the Great Recession and found a new job. More than half are earning less money. During the recession, wage growth dropped from 3.5 percent a year to 1.5 percent, and has been stuck there ever since. The economic upheaval that began ... Read more