News
NY Times | In Boeing Case, House Passes Bill Restricting Labor Board
The House voted on Thursday to approve a Republican-backed bill that would prohibit the National Labor Relations Board from trying to block Boeing from operating a new $750 million aircraft assembly line in South Carolina. The largely party-line vote was 238 to 186.
WSJ | OECD Calls for Action on Unemployment
In its annual employment outlook, the Paris-based think tank said that in July, 44.5 million workers were without jobs across its 34 developed-country members, 13.4 million more than immediately before the onset of the financial crisis.
Market Watch | No ‘gimmicks’ for job creation, Boehner says
Congress and the White House shouldn’t waste time with “short-term gimmicks” to spur the recovery and shrink the deficit, House Speaker John Boehner said Thursday, urging lawmakers to instead aggressively deregulate the economy and revamp the tax code to put people back to work.
Econ Comments
WSJ | Why the Jobs Plan Falls Short
Instead of temporary tax breaks and more spending, we need permanent tax incentives, development of our energy resources, and entitlement reform.
Forbes | Instead Of Obama's Jobs Plan, Pass Something That Will Work
President Barack Obama’s first, nearly $1 trillion “stimulus” bill enacted in February, 2009, was intellectually quite shocking for its total devotion to an unreconstructed, 1970s style, college freshman’s understanding of Keynesian economics.
Blogs
WSJ: Real Time Economics | Recession Job Losers Take Bigger Hit to Future Earnings
Employees who held their jobs for three or more years and were let go in a mass layoff saw the value of their future earnings decline by 11% in an average year compared to those who kept their jobs, according to a paper released Thursday at the Brookings Institution by Columbia University’s Till von Wachter and the University of Chicago’s Steven Davis. Similar workers who were let go in a mass layoff during a recession saw the value of their future earnings drop nearly twice as much, 19%.
