This blog is a place for journalists to discuss their experiences covering poverty. It works in tandem with onpoverty.org, a site run by Washington and Lee University's American Poverty Journalism Center.

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Recession may be longest since World War II

03/09/2009 DEB RIECHMANN ASSOCIATED PRESS VIA KANSASCITY.COM
The 1981-82 recession was America’s worst since the Great Depression, but the current recession could slice even deeper into the U.S. economy. If it lasts into April, as expected, it will be the longest recession in the postwar era. While unemployment has not reached 1982 levels and the gross domestic product is still higher than in 1982, the hurt from this recession is spread more widely. Furthermore, uncertainty about the country’s economic health is worse today than it was in 1982.

Original story

Labels: economy, Great Depression, recession, unemployment

posted by Valaree and Brea at 12:48 PM  |  0 Comments  |  Talk about it!

 

Economy expected to worsen in 2009

02/23/2009 JEANNINE AVERSA KANSASCITY.COM
The latest survey by the National Association for Business Economics predicts the economy will shrink by 1.9 percent this year, a much deeper contraction than the 0.2 percent predicted in the fall. NABE forecasters predict the economy to slide backward at a pace of 5 percent in the January-March quarter. The economy should expand in the second half of this year, but some analysts think the jobless rate will peak at 9 percent and not return to the 5 percent range until 2013 at the earliest.

Original story

Labels: 2009, economy, National Association for Business Economics

posted by Valaree and Brea at 4:28 PM  |  0 Comments  |  Talk about it!

 

Unemployment claims and benefits reach new heights

10/02/2008 ASSOCIATED PRESS HOUSTON CHRONICLE WASHINGTON, D.C.
The weakening economy and Hurricanes Ike and Gustav brought applications for unemployment benefits to a seven-year at the end of September, according to the Labor Department. Weekly jobless claims have now topped 400,000 for 11 straight weeks, which economists consider a sign of recession. The number of people receiving jobless benefits is at a five-year high. Original story

Labels: economy, hurricane gustav, hurricane ike, jobless, unemployment

posted by Valaree and Brea at 3:28 PM  |  0 Comments  |  Talk about it!