November 6th, 2009
10:38 AM ET
4 years ago

Romer: Jobs report shows signs of hope

(CNN) - Christina Romer, chair of the President's Council of Economic Advisors, released a statement Friday on the latest jobs report:

“Today’s employment report contained both signs of hope for recovery and painful evidence of continued labor market weakness.

Payroll employment declined 190,000 in October, continuing the steady trend of moderating job loss that began last spring. Furthermore, the employment loss in both August and September was revised down substantially. Importantly, employment in temporary help services, typically one of the first industries to see job gains, increased by 33,700. The motor vehicle industry also posted employment gains. These are hopeful signs that the unprecedented policy actions are working to stabilize the economy and put us on a path toward recovery.

The unemployment rate, however, rose four-tenths of a percentage point, to 10.2 percent. That this occurred despite the rise in real GDP last quarter reflects both the typical lag between GDP growth and unemployment decline, and the recent exceptional increases in productivity. Having the unemployment rate reach double-digits is a stark reminder of how much work remains to be done before American families see the job gains and reduced unemployment that they need and deserve.”


Filed under: Economy
November 6th, 2009
08:53 AM ET
4 years ago

GOP: White House 'falling short' on jobs

Republicans quickly responded to the latest jobs report Friday.
Republicans quickly responded to the latest jobs report Friday.

Washington (CNN) - The top Republican in the House of Representatives says the White House is "falling short" when it comes to battling unemployment.

"The president has said that job creation is the ultimate measure of economic performance. Today's report is yet another reminder that American families and small businesses are still struggling, and the White House response is falling short," said House Minority Leader John Boehner in a statement released Friday morning.

Boehner's statement was released just minutes after the Labor Department reported that the nation's economy lost 190,000 jobs in the month of October and the unemployment rate rose from 9.8 percent to 10.2 percent.

"A jobless recovery and double-digit unemployment are not what the American people were promised. Democrats pledged that the so-called 'stimulus' would create jobs immediately and keep the unemployment rate from going above eight percent. But since the 'stimulus' was signed into law, more than three million private sector jobs have been lost. Americans are asking 'Where are the jobs?' but all they've gotten from Democrats in Washington is more spending and more debt," adds Boehner.

Minutes after Boehner's comments, the Republican National Committee weighed in as well.

"With so many families looking for work, it is time the Obama administration stop spreading their phony 'saved or created' talking points and start creating the dependable jobs America needs. President Obama promised jobs during his campaign for president, and the elections in Virginia and New Jersey on Tuesday were a clear referendum on his failure to deliver on this promise," said RNC Chairman Michael Steele in a statement.


Filed under: Economy
November 6th, 2009
08:43 AM ET
4 years ago

U.S. unemployment rate climbs to 10.2 percent

WASHINGTON (CNN) – The U.S. unemployment rate rose to 10.2 percent in October, the Labor Department said Friday.

It's the first time the unemployment rate has surpassed 10 percent since 1983.

Full story from CNNMoney.com


Filed under: Economy
November 6th, 2009
06:21 AM ET
4 years ago

Tea Party activists hit the Hill, arrested outside Pelosi's office

Tea Party activists hit the Hill, arrested outside Pelosi's office.
Tea Party activists hit the Hill, arrested outside Pelosi's office.

Washington (CNN) - GOP leaders and thousands of Tea Party movement protesters gathered on Capitol Hill Thursday to call House Democrats' health care reform bill a full-blown government takeover of the nation' health care system.

"My colleagues and I last week were wracking our brains trying to figure out what could we do, because quite simply Republicans don't have the votes to kill this bill," Rep. Michele Bachmann of Minnesota told the crowd. "Every lever of power is controlled by one party now in DC. We tried to figure out what we could do. We knew that we were limited. But what we knew was unlimited was the voice of persuasion of the American people, and that's why you are here today with your voice of persuasion.

"....Let me assure you your efforts to stop this bill are being heard loud and clear. And I will guarantee you that we are committed to making sure that not one Republican will vote for this bill."

Actor John Ratzenberger, known partly for his role as Cliff Clavin in the 1980s sitcom "Cheers," slammed the Democratic bill as a form of socialism.

"These are Woodstock Democrats," he said at the rally. "We have to remember where their philosophy comes from. It doesn't come from America. It comes from overseas. It comes from socialism. And socialism is a philosophy of failure."

Police later arrested 12 protesters outside Pelosi's office for unlawful entry or disorderly conduct, according to Capitol Hill police spokeswoman Sgt. Kimberly Schneider.
FULL POST


Filed under: Capitol Hill • Nancy Pelosi • Tea Party movement
November 6th, 2009
06:20 AM ET
4 years ago

CNN Poll: Concerns about the economy on rise

The number of Americans who say the economy is their top issue is on the rise, according to a new national poll.
The number of Americans who say the economy is their top issue is on the rise, according to a new national poll.

Washington (CNN) - The number of Americans who say the economy is their top issue is on the rise, according to a new national poll.

Forty-seven percent of people questioned in a CNN/Opinion Research Corporation survey released Friday morning say the economy is the most important issue facing the country today. That's up 6 points from August.

Health care, at 17 percent, remains second on the list. But the issue is down a few points from August, indicating that the furor caused by the late summer town hall meetings may be fading somewhat on the minds of most Americans.

Full results (pdf)

"Third on the list are the wars in Afghanistan and Iraq, with indications that more Americans are concerned by that issue as President Barack Obama continues a lengthy debate over whether to send more troops into combat," says CNN Polling Director Keating Holland.

The federal budget deficit also makes it into double digits, followed by education, terrorism and energy in single digits.

FULL POST


Filed under: CNN poll • Economy
November 6th, 2009
05:00 AM ET
4 years ago

CNN Poll: Public wants Congress to keep working on health care

Nearly six in ten Americans want Congress to continue working on health care reform bills that have been passed through various committees, according to a new CNN poll.
Nearly six in ten Americans want Congress to continue working on health care reform bills that have been passed through various committees, according to a new CNN poll.

Washington (CNN) - Nearly six in ten Americans want Congress to continue working on health care reform bills that have been passed through various committees, according to a new national poll.

Full results (pdf)

Fifty-nine percent of people questioned in a CNN/Opinion Research Corporation survey say lawmakers should continue working on the legislation, a rise of 6 points since August. But only a quarter say those bills should be passed pretty much as is, with a third suggesting that Congress should make major changes. The poll also indicates that one in four say lawmakers should start from scratch and 15 percent want Congress to stop all work on health care reform.

The survey's release Friday morning comes one day before the full House of Representatives is expected to hold a floor vote on the Democrats health care reform bill.
FULL POST


Filed under: CNN poll • Congress • Health care • Popular Posts
November 6th, 2009
04:59 AM ET
4 years ago

POLITICAL HOT TOPICS: November 06, 2009

ALT TEXT

The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world.

WASHINGTON/POLITICAL
For the latest political news: www.CNNPolitics.com.

CNN: Obama: Fort Hood shootings 'horrific'
President Barack Obama on Thursday called the Fort Hood, Texas, shootings "tragic" and "a horrific outburst of violence."

CNN: Sen. Cornyn: Don't jump to conclusions over Fort Hood shootings
Before making judgments about the shootings at Fort Hood, a thorough investigation needs to take place, Sen. John Cornyn of Texas said Thursday.

CNN: House, Senate hold moments of silence for Fort Hood victims
Both chambers of Congress observed moments of silence Thursday for victims of the shootings at Fort Hood, Texas, and their families.

The Hill: Armed Services panel wants 'detailed accounting' of Fort Hood tragedy
The Senate Armed Services Committee is seeking a "detailed accounting" of a Thursday shooting at Fort Hood, Texas, that left 12 soldiers dead and 31 wounded.

CNN: AMA, AARP back House health care bill
The push to overhaul health care received a major boost Thursday as the American Medical Association and AARP endorsed legislation drafted by top House Democrats.

FULL POST


Filed under: Political Hot Topics
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