Video of the Week: President Obama Delivers Job Initiative Legistlation

Video of the Week: President Obama Delivers Job Initiative Legistlation

Yesterday evening President Obama delivered a speech to both Houses of Congress, as well as the American people, about his proposal to spur job creation in America. Already, there are few who believe that Congress can work together to actually pass any of the bill. What will it take to get Congress to work together and do the job they were hired to do?

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Let’s Prepare Workers for the Fastest Growing Jobs . . .Now!

Let’s Prepare Workers for the Fastest Growing Jobs . . .Now!

Now that the unemployment rate has remained above 9 percent for the past 21 months, economists want to increase what is considered the normal unemployment rate, currently around 5 percent.  The new norm may now be more like 6.7 percent, according to a paper released by the Federal Reserve Bank of San Francisco Monday.  Rather than focus on whether the current high unemployment rate is more likely permanent than temporary, the focus should be on preparing the unemployed for those labor markets expected to grow.  Let’s tackle the mismatch between workers’ skills and what employers are looking for.  According to DOL, home health aides top the list.

Highlighted Clip for Tuesday, February 15, 2011: 

"What Is the New Normal Unemployment Rate?"

Recent labor markets developments, including mismatches in the skills of workers and jobs, extended unemployment benefits, and very high rates of long-term joblessness, may be impeding the return to "normal" unemployment rates of around 5%. An examination of alternative measures of labor market conditions suggests that the "normal" unemployment rate may have risen as much as 1.7 percentage points to about 6.7%, although much of this increase is likely to prove temporary. Even with such an increase, sizable labor market slack is expected to persist for years.