Archive - Mar 9, 2009

Date

Mapping the Unemployment Tide

Topics: Economic Development
Countries: United States
Assembly line in a California auto-manufacturing plant. Photo: <a href="http://www.flickr.com/photos/canadagood/3057618180/">Gregory Melle (flickr)</a>
Assembly line in a California auto-manufacturing plant. Photo: Gregory Melle (flickr)

Just how deeply is the recession carving its way through the U.S. — and who's getting hit the hardest?

A New York Times interactive map measures December 2008 unemployment rates across the U.S., layering in the impact of the housing boom and the loss of manufacturing jobs. Dark patches of color, indicating higher unemployment rates, are especially noticeable along the West Coast, as well as in Michigan and in parts of the Deep South.

The national unemployment average reached 7.1 percent last December. Current figures put the jobless rate at 8.1 percent — the highest since 1983. Unemployment has crept as high as 22 percent in places like El Centro, California, an area weakened by dried-up crops and withered spending as fewer Mexicans cross the border to shop there.

This recession bears a different face than previous economic lapses, writes The New York Times’ David Leonhardt. He says the current downturn is hurting blue-collar workers more than college graduates, affecting men more than women and stinging homeowners more than renters. He adds that Latinos have become the ethnic group most vulnerable to job losses.

"The main reason that recessions tend to increase inequality is that lower-income workers are concentrated in boom-and-bust industries," Leonhardt writes, citing recent job landslides in the agriculture and construction sectors.

Leonhardt suggests that stocks, government policy and education are the three tools most crucial to lifting the U.S. from the economic depths the country hasn't seen since the Great Depression.


Stories We're Watching

Biofuels goals 'may lead to food shortages'

Science and Development Network - Mon, 05/21/2012 - 02:00
A global study finds that some developing countries may face significant economic and food security impacts by 2020 if their ambitious biofuels targets are met.

Land grabbers: Africa's hidden revolution

The Guardian's Poverty Matters - Sat, 05/19/2012 - 16:05
Vast swaths of Africa are being bought up by oligarchs, sheikhs and agribusiness corporations. But, as this extract from The Land Grabbers explains, centuries of history are being destroyed.

Sustainable development is the only way forward

The Guardian's Poverty Matters - Sun, 05/20/2012 - 23:00
Development co-operation needs to shift focus from poverty eradication to a broader, more inclusive framework.

The Real Story on Charcoal for African Cookstoves

Triple Pundit - Sun, 05/20/2012 - 13:11
You may have seen pictures of women in Africa cooking their daily meals on a small cookstove. These cooking implements look remarkably similar to the portable charcoal grills an American family might bring to the beach for an afternoon of grilling hot dogs and hamburgers.

Could Glass-Steagall Have Stopped JPMorgan Loss?

NPR - Sat, 05/19/2012 - 15:13
The banking giant's $2 billion loss has many lawmakers and economists wondering what happened to the 2010 financial overhaul, which was supposed to prevent risky hedging. Many are also looking back further — to a Depression-era law, repealed in 1999, that separated commercial and investment bank activities.

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