South By North Strategies, Ltd.

New Workforce Policy Resource

Over the weekend, the National Skills Coalition, a national nonprofit organization focused on the competitiveness of the American workforce, launched a new Web site rich in data and information about state and federal workforce policies.  This information is valuable to anyone seeking to understand the jobs bills pending in congress, recent changes in federal programs like Trade Adjustment Assistance, and the pending re-authorization of programs like the Workforce Investment Act,

Weekend Wonk Out

A round-up of policy reports from the week ending on 1/8:

• Smart Growth America look at the impact of transit spending on job creation.
• The Brookings Institution looks at a roller-coaster decade for migration.
• The Economic Policy Institute asks if health costs drive wage trends.

National Employment Situation: Dec.

New national employment data for December show that the economy shed 85,000 more positions than it created. Since the recession’s onset in December 2007, over 7 million positions have been eliminated with net job losses occurring in 22 of the last 23 months. Over the past two years, the unemployment rate has risen to 10 percent, and the number of unemployed persons nearly has doubled.

In December, the nation’s employers eliminated 85,000 more payroll positions than they added. Although the November payroll data were revised upward (to +4,000 positions from -11,000), downward revisions to the October data more than offset the gains. Additional downward revisions are expected when annual data adjustments are released in February.

Additionally in December,  15.3 million Americans – 10 percent of the labor force –  were jobless and actively seeking work. Proportionally more adult male workers were unemployed than female ones (10.2 percent vs. 8.2 percent). Similarly, unemployment rates were higher among Black (16.2 percent) and Hispanic workers (12.9 percent) than among White ones (9 percent).

Click here to read South by North Strategies’ analysis of the December employment report.

A Looming Question

From the transcripts of the Federal Open Market Committee’s December meeting …

Some participants remained concerned about the economy’s ability to generate a self-sustaining recovery without government support. In particular, they noted the risk that improvements in the housing sector might be undercut next year [2010] as the Federal Reserve’s purchases of MBS wind down, the homebuyer tax credits expire, and foreclosures and distress sales continue.

Around the Dial – Jan. 7

Economic policy reports, blog postings, and media stories of interest:

• David Leonhardt asks why the Federal Reserve missed the housing bubble.
• Keith Hennessey explains how Congress can “ping pong”  the health bill.
• Politico posts Congress’ comparison of key differences in the health bills.
• Martin Wolf looks at the future of the Eurozone.