U.S. Jobless Claims Drop to Lowest Level Since 1973

Bloomberg News

You gotta hate those "failed" Obama policies,
right a**holes?

Jobless claims unexpectedly decreased to the lowest level since 1973, indicating the U.S. labor market remains a pillar of support in the world’s largest economy.

New applications for unemployment benefits fell by 6,000 to 247,000 in the week ended April 16, data from the Labor Department showed Thursday. The median forecast of economists surveyed by Bloomberg called for 265,000 claims. The number of Americans already on benefit rolls declined to a more than 15-year low.

Southbridge Unemployment Rate Ranks 15th Out Of 351

Ken O’Brien

Of the 351 cities and towns reporting, Southbridge, with an unemployment rate of 6.5%, was tied with Hinsdale for the 15^th highest unemployment rate in Massachusetts for the month of April. Of course Southbridge has a labor force almost eight times the size of Hinsdale's.

Eight other communities with higher rates were either resort communities on Cape Cod or of inconsequential size. Five are dramatically larger than Southbridge. Only North Adams, with a rate of  6.6%, is comparable to our town.

If there was any good news to be found in this fact it was that from March of 2015 the rate of unemployment in Southbridge declined by 1.3 percentage points. However, this was accompained by a 1.4% decline in the available labor force. On balance, Southbridge remained firmly ensconced in the top 5 percent of pockets of unemployment in the state.

Seasonally Adjusted Southbridge Is Number 5 in Massachusetts Unemployment

Ken O’Brien

Adjusting for seasonal factors, Southbridge has the fifth highest rate of unemployment in Massachusetts at 8.5%.

The figures for the qualified communities are as follows:

                        Unemployment
Community           Rate

FallRiver              10.8%

New Bedford       10.4%

Lawrence             10.0%

Springfield            9.6%

Southbridge          8.5%

Hinsdale               8.5%

What Is Wrong With Southbridge?

Ken O’Brien

Southbridge has struggled for over a decade with underperforming schools.

Southbridge has witnessed a continuing relative decline in property values.

Southbridge has experienced a steady decline in the number and variety of businesses in the community. 

Now, by a significant margin, we know that Southbridge has the highest rate of unemployment in Worcester County. 

Southbridge Has Highest Unemployment In Worcester County

The Executive Office of Labor and Workforce Development (EOLWD) released preliminary February 2015 estimates that show the Massachusetts total unemployment rate dropped to 4.9 percent from the January rate of 5.1 percent, a 0.2 of a percentage point decrease. Over the year, the unemployment rate fell by 1.1 percent from 6.0 percent in February 2014.

Southbridge, however, experienced little of the good news in the report. Compared to its immediate neighbors, Southbridge experienced chronically high unemployment.

Tell Council “Take Control Of Budget And Tax Rate”

Ken O’Brien

In February of last year The New York Times reported, “Since the official recovery began after the recession’s June 2009 trough, labor market weakness has been most pronounced in the public sector (and particularly among state and local employment): 5 million jobs have been added in the private sector (a disappointingly low number), while the public sector has shed 721,000 jobs.” 

Southbridge March Unemployment Rate 9.5%

Ken O’Brien

Southbridge’s unemployment problem remains among the worst in Massachusetts. While unemployment in Central Massachusetts dropped sharply in March and is down from March of last year this community remains 2.5 percentage points above the regional average and almost 3 points above the statewide average.

Greater Worcester's seasonally unadjusted jobless rate fell from 7.3 to 7 percent over the month, according to the Executive Office of Labor and Workforce Development. That's well below the 7.7 percent unemployment rate recorded in March 2013.

The Local Impact Of Long-Term Unemployment Insurance Cuts

Ken O’Brien

On December 28, 1.3 million Americans were immediately cut off of their unemployment insurance coverage. New data from states across the country highlights the harm local communities will face due to the Republican failure to extend unemployment insurance before leaving for the winter holiday break.

When Congress failed to extend the federal Emergency Unemployment Compensation program more than 58,700 people in Massachusetts lost their insurance coverage immediately on Dec. 28, according to the Massachusetts Department of Unemployment Assistance. An additional 54,800 people in Massachusetts will lose their coverage in the first six months of 2014 if Republicans continue to block an extension of the program, according to Department of Labor estimates. 

We’re Number 3 – Uh Hurrah?

Ken O’Brien

Of the 72 central Massachusetts cities and towns surveyed by reporter Zeke Wright in Go Local Worcester Southbridge is tied for third place with Gardner.

Unfortunately, it is not a distinction that any community would relish.

You see, at 9.9% we’re tied for the third highest unemployment rate of those 72 communities. We are only beaten out by Fitchburg and Athol at 10% and 10.5 % respectively.

What is more disturbing to me, however, is how this survey is used as a premise for launching into the repetition of hackneyed attacks on plans to raise the minimum wage. 

ECONOMY ADDS 146,000 JOBS IN NOVEMBER, UNEMPLOYMENT TO 7.7 PERCENT

Ken O’Brien

The American economy added 146,000 jobs in November and the unemployment rate fell to 7.7 percent, according to the latest data from the Bureau of Labor Statistics.

Analysts had expected 85,000 jobs to be created. The 7.7 percent unemployment rate is the lowest it has been since December 2008.

The First Debate: Mitt Romney's Five Biggest Lies

Ken O’Brien

Mitt Romney turned in a polished performance in the presidential debate – and revealed himself to be an accomplished and unapologetic liar. In an evening where he sought to slice and dice the president with statistics, Romney baldly misrepresented his own policy prescriptions, made up numbers to fit his attacks and buried clear contrasts with the president under a heaping pile of BS.

.

Here are Mittens’ five most mendacious statements: 

June Employment Situation Report

U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is struggling three years after the recession ended.

The Labor Department said Friday that the unemployment rate was unchanged at 8.2 percent.

The economy has added just 75,000 jobs a month in the April-June quarter. That's one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year's pace through the first six months of 2012.

THE EMPLOYMENT SITUATION -- JUNE 2012 - U.S. Bureau of Labor Statistics

Nonfarm payroll employment continued to edge up in June (+80,000), and the

unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor

Statistics reported today. Professional and business services added jobs,

and employment in other major industries changed little over the month.

The Facts Are In: Stimulus Worked - Republican Plan Fails

Ken O’Brien

from: www.plunderbund.com

Following his string of primary victories on Tuesday, Mitt Romney took to the podium and rallied the Republican faithful. In a scathing criticism of President Obama’s economic policies, he said, “It’s still about the economy ... and we’re not stupid.”

I sincerely hope he’s right in saying that the American people are not stupid.

I also sincerely hope that people follow the advice he gave on February third, “If people think the economy is going in the right direction they should vote for President Obama.”

UPDATE: Is Southbridge Being Hyde-Jacked?

Updated at 8 am, 3/19: Hyde spokesman admits “some work” going to Canada.

Ken O’Brien

Nine days ago The O’Zone published an article titled, “Is Hyde Mfg. Moving Jobs To Canada?”

Yesterday The O’Zone published a follow-up piece titled, “Is Southbridge Being Hyde-Jacked?”

In both articles I was quite straightforward in saying that what I was reporting was based on anecdotal information from current and former employees of the company.

In addition I indicated that, rather than having any animosity toward the firm, it had a warm place in my heart.

However, the company is a foundation of what remains of employment in Southbridge as well as its industrial base.

So, given these factors, I was seeking any kind of denial that what I had been told and was therefore reporting lacked substance.

In what is now bordering on a week and a half there has been no such denial. 

Breaking News: February Jobs Report - 227,000 jobs created

Ken O'Brien

The Bureau of Labor Statistics reports that in February the U.S Economy created 227,000 new private sector jobs.

The only sectors of the economy that lost jobs were construction and retail.

The January jobs number was revised upward by 50,000 additional private sector jobs created.

The unemployment rate remained at 8.3%.

Hidden Camera Captures Southbridge Economic Development and Planning Department at Work

Romney vs. Economic Reality

Ken O’Brien

Willard Mitt Romney said yesterday, “If people think the economy is going in the right direction they should vote for President Obama.”

Well, for the vast number of Americans the direction of the economy has more to do with employment (i.e. jobs) than with any other single factor.

Despite all the rhetoric and sniping from Republicans, there is no doubt that our current state of affairs occurred on their watch during the Bush Administration. In the lead up to the earlier quote, Romney said, “President Obama did not cause our economic problems, but his policies made them worse.”

Unemployed? Find Your Dream Job In Southbridge

Ken O'Brien

Do you need a job?

Don't despair - Southbridge has plenty of money. All it takes is some creativity on your part and an aggressive desire to define your dream vocation.

As I reported yesterday, the Town Manager is busy creating new positions that are not even provided for in the town bylaws.

Why should you miss out?

Will Weinergate Cost Summer Jobs?

Kenneth M. O’Brien

“What's in a name? That which we call a rose
By any other name would smell as sweet..”

So observed Shakespeare.

The logical corollary is that a skunk by any other name would smell as foul.

In the all-pervasive world of commerce, THE BRAND is everything.

And the name IS the brand.

An Economic Recovery Plan For America

Kenneth M. O’Brien

More than fifteen million Americans are suffering the dire consequences of unemployment.

In the midst of this crisis, we are held hostage to a battle of political ideologies.

The political right repeatedly tells us that we must reduce our budget deficit. Their mantra is that we don’t have a revenue problem, we have a spending problem.

The political left repeatedly tells us that the Republicans caused this problem by profligate tax cuts and spending during the Bush Administration.

To some extent both sides are right and both sides are wrong.