
home

forum
| about
us | news | resources |
blog |
calendar |
contact
3.28.11
* Newest DenverDads blog.
1.29.11
* CO unemployment rises to 8.8%. 223,000
Coloradans were searching for work in December 2010. Full details.
12.20.10
* Click here for the most up-to-date unemployment benefits information for the state
of Colorado.
12.6.10
* The number of unemployed persons was 15.1 million
in Nov, '10. The unemployment rate edged up to 9.8%; it was 9.6 % in each of the
prior THREE months.
12.4.10
* Monthly unemployment information has been posted.
- "The unemployment rate edged up to 9.8 percent in November, and nonfarm payroll
employment was little changed (+39,000), the U.S. Bureau of Labor Statistics
reported today. Temporary help services and health care continued to add jobs
over the month, while employment fell
in retail trade. Employment in most major
industries changed little in
November." Click here for the full story.
* Job Srowth Much Weaker Than Expected - ABCNews
11.24.10
* Unemployment Insurance Weekly Claims Report for
11.24.10. http://bit.ly/ePu2Ki
11.23.10
* 5 Reasons People Don't Refinance Their Homes. Click here.
11.15.10
* 20 Questions, 5 year-old style!
11.5.10
* The weekly applications for
unemployment benefits are volatile but are considered a real-time snapshot of
the job market. They reflect the pace of layoffs and signal whether companies
are hiring. Separately, labor productivity rebounded in the July-September
quarter, rising 1.9 percent after falling in the previous quarter. But even with
the decline, productivity, or output per hour worked, is still growing at a much
weaker pace than it did last year. That could be a positive sign that companies
will have to step up hiring to meet growing demand.
* 151,000 New jobs, but unemployment stuck in a rut. Poll shows that at least
31% of Americans have at least one family member who is out of work. Click here for the full story
from ABCNews.com.
-
* Even though 151,000 jobs were added
this past month, the usual pace of new workers entering the work force
hovers around 100,000 - leaving an estimated total of only 51,000 jobs
added.
-
* Fig 1 shows the percentage of new
workforce and their respective sectors:
-
fig.1
11.4.10
* Seven lame, business-killing excuses for not having
a social media presence.
10.28.10
* Unemployment claims drop by 434,000 last week. Click
here for the full story.
10.13.10
*
Tips for finding/starting your own Stay-At-Home-Dads group, courtesy of
Lance Sommerfeld and Matt Schneider of
NYC Dads & Stay at Home
Dads Group.
10.8.10
*
September 2010 jobs report
details that 95,000 jobs were lost nationwide (largely from temporary,
government jobs). The private sector added 64,000 jobs last month.
These numbers extrapolate to an unemployment rate of 9.6% overall. Click
here
for the Bureau of Labor Statistics report.
10.6.10
*
10 iPhone/iPod Touch apps for
busy dads!
10.5.10
* Children, swearing, and the middle finger. Click
here for the article.
* My own
story of crying wolf, and the middle finger.
* The new "macho:" 7 Ways to Embrace Modern Fatherhood.
Full story.
* Men’s Lib: To survive in a hostile world, guys need to embrace girly jobs and
dirty diapers. Why it’s time to reimagine masculinity at work and at home. Click
here.
9.27.10
* Daddy bloggers are on the rise. Click here for the CNN video.
top
9.22.10
* NEW * JOIN THE DENVERDADS.NET
COMMUNITY. CLICK
HERE!
top
9.20.10
* Recession "over," but Americans are still struggling. This has been the
longest recession since WWII.
Full story.
top
9.17.10
* Poverty rate climbs in recession, 1 in 7 now poor. 2009 census data show
43.6 million Americans in poverty - the most in 51 years. Click
here for full story.
top
9.11.10
* Top 10 online coupon sites:
September 02, 2010,
By
Jonathan Wylie
There is something
strangely addictive about saving money on your
shopping because once you start, you never want to
pay full price again. The following sites are some
of the best ways to make your family budget stretch
that little bit further.
-
RetailMeNot.com. This is one of the best
coupon sites for saving money. Here you will
find coupon codes for online shopping, printable
coupons and grocery coupons. So, the next time
you checkout online and you see the box that
asks if you have a coupon code, head over to
RetailMeNot.com to see what is available.
-
CouponCabin.com. The Coupon Cabin is
similar to RetailMeNot, but it has more options
for sorting through the coupons on the site.
Coupons for grocery stores, electronics and more
are found at the Coupon Cabin. It even has
PriceGrabber integration so that you can compare
prices on a variety of products to makes sure
you get the best deal.
-
Coupons.com. This one of the best
coupons sites for all the printable coupons you
need. You will need to install the coupon
printer to print out your choices, but this is a
quick and usually painless experience. The
majority of the coupons here are for products
that you will find while doing your weekly
grocery shopping, so expect deals for everything
from diapers and dog food to drinks and
convenience foods.
-
RedPlum.com. Despite the unusual name,
there are some good savings to be made by
visiting this site. Here you will find grocery
coupons, restaurant coupons and a variety of
money saving tips. Look for the editor's deal of
the day at the bottom of the page for Red Plum's
pick of the day.
-
FatWallet.com. Find online coupons and
some of the Internet's best bargains at Fat
Wallet. You can even sign up for their cash back
program. Simply make a purchase through one of
their cash back store partners, and you can earn
a percentage of your total cost as a cash back
refund.
-
Slickdeals.net. This is a bargain
hunter's dream site. Here you will find the very
best deals, coupons and sales available on the
web. Browse through the forums and see what is
available, or use the search facility to find
something more specific. This is definitely a
site that you will want to bookmark and come
back to often, especially when the very best
deals last only a day, or less!
-
CurrentCodes.com. With the promise of
just coupons and no distracting deals or ads,
Current Codes offers a simple but efficient way
to save money. Browse their coupons by store
name, or by category, and you will quickly find
some of the best coupons available today.
-
TheFind.com. Visitors to this website
enter the name of the product they are looking
to buy and then click search. The Find will then
scour the Internet for coupon codes, free
shipping deals or sales that relate to the item
you are looking to buy in order to get you the
best deal there is.
-
CouponMom.com. The Coupon Mom is on hand
to do the hard work for you. This site, which
has been featured on CNN, NBC and Oprah, will
search all the best coupon sites so you don't
have to. Restaurant coupons, online coupons,
free samples and money saving tips are what you
can expect if you sign up for free with the
other 2.5 million registered users of this site.
-
SmartSource.com. Find coupons quickly
and easily with Smart Source. Simply browse
through their selection, checking boxes as you
go, and print out the bargains that you find.
They claim to be the No. 1 site for grocery
coupons on the web, and it is easy to see
why.Finding good coupons takes a little bit of
time and effort, but the end results are worth
it. These sites are some of the best coupon
sites on the web today, so bookmark them, and
check back often for the best money saving
offers for you and your family.
Jonathan Wylie
is a contributor to
Six Apart Media.
|
top
9.10.10
* Interesting new data from ABCNews.com: More children are being raised by
their grandparents than ever before.
- 2.9 million children in grandparents care. This is up 16% from the year
2000.
- The recession and longer military deployments are cited as reasons.
* New Study Shows That Childless Women Succeed More Than Mothers in the
Workplace. Click
here for the full article.
top
9.7.10
* Latest info on school closures due to the wild fires in Boulder-area:
- Gold Hill Elementary School will remain closed through tomorrow.
- Temporary classes are currently in the works.
top
9.7.10
* New blog posted on our
blog page.
top
9.4.10
* Companies add 67,000 workers in August, but jobless rate rises to 9.6%. Click
here for full article
on the
DenverPost.com.
top
9.3.10
* The latest economic data shows that, in August 2010, 54,000 jobs were lost
(most due to government census jobs no longer being needed). This has
pushed overall unemployment to 9.6%.
-
Official Bureau of Labor Statistics, August 2010 Employment Situation Summary.
- 67,000 private sector jobs were created.
* Click
here for a full article on the latest data.
top
8.30.10
* DenverDads.net is currently seeking affiliates, link trades, advertisers, and
word of mouth assistance. Any magazine, paper, freelance writer, fellow
stay-at-home-dads, affiliated website or social media site that is interested,
please send your
emails. Thank you, from DenverDads.net
* ABCNews.com
video - How To Use Social Networking to land a job.
* My baby boy finally went off to full-day kindergarten today. I have
written a short
blog about it. Feel free to comment.
*
As Men's Job Losses Mount, Wives Feel the Impact. Article resides on
time.com, and found on daddyshome.org.
* DenverDads.net recommended Amazon book:
The Stay-at-Home-Dad Handbook
*
Article - Mr. Dad: Stay-at-Home plan means big changes.
top
8.28.10
* Bernanke's Message: We Can Get Out Of This Hole. Read entire
article on Fox News Business.
top
8.27.10
* Economic growth was cut sharply, to 1.6% in the second quarter, due to a
widening trade gap. Click
here for the full story.
* Bureau of Labor Statistics
website has some interesting information posted.
- New statistics for the month of August 2010 will be released on Sept. 3, 2010.
* Federal Reserve Chairman, Ben Bernanke says the
economy still remains vulnerable. Click
here for the entire article at ABCnews.com. Click
here for the video.
* Has the recession affected the rate of births in the United States?
Recession may have pushed US birth rate to
new low
By MARILYNN MARCHIONE,
AP (article)
The U.S. birth
rate has dropped for the second year in a row,
and experts think the wrenching recession led
many people to put off having children. The 2009
birth rate also set a record: lowest in a
century.
Births fell
2.7 percent last year even as the population
grew, numbers released Friday by the National
Center for Health Statistics show.
"It's a
good-sized decline for one year. Every month is
showing a decline from the year before," said
Stephanie Ventura, the demographer who oversaw
the report.
The birth
rate, which takes into account changes in the
population, fell to 13.5 births for every 1,000
people last year. That's down from 14.3 in 2007
and way down from 30 in 1909, when it was common
for people to have big families.
"It doesn't
matter how you look at it — fertility has
declined," Ventura said.
The situation
is a striking turnabout from 2007, when more
babies were born in the United States than any
other year in the nation's history. The
recession began that fall, dragging stocks, jobs
and births down.
"When the
economy is bad and people are uncomfortable
about their financial future, they tend to
postpone having children. We saw that in the
Great Depression the 1930s and we're seeing that
in the Great Recession today," said Andrew
Cherlin, a sociology professor at Johns Hopkins
University.
"It could take
a few years to turn this around," he added,
noting that the birth rate stayed low throughout
the 1930s.
Another
possible factor in the drop: a decline in
immigration to the United States.
The downward
trend invites worrisome comparisons to Japan and
its lost decade of choked growth in the 1990s
and very low birth rates. Births in Japan fell 2
percent in 2009 after a slight rise in 2008, its
government has said.
Not so in
Britain, where the population took its biggest
jump in almost half a century last year and the
fertility rate is at its highest level since
1973. France's birth rate also has been rising;
Germany's birth rate is lower but rising as
well.
"Our birth
rate is still higher than the birth rate in many
wealthy countries and we also have many
immigrants entering the country. So we do not
need to be worried yet about a birth dearth"
that would crimp the nation's ability to take
care of its growing elderly population, Cherlin
said.
The new U.S.
report is a rough count of births from states.
It estimates there were 4,136,000 births in
2009, down from 4,251,095 in 2008 and more than
4.3 million in 2007.
The report
does not give details on trends in different age
groups. That will come next spring and will give
a clearer picture who is and is not having
children, Ventura said.
Last spring's
report, on births in 2008, showed an overall
drop but a surprising rise in births to women
over 40, who may have felt they were running out
of time to have children and didn't want to
delay despite the bad economy.
Women
postponing having children because of careers
also may find they have trouble conceiving, said
Mark Mather of the Population Reference Bureau,
a Washington-based demographic research group.
"For some of
those women, they're going to find themselves in
their mid-40s where it's going to be hard to
have the number of children they want," he said.
Heather
Atherton is nearing that mark. The Sacramento,
Calif., mom, who turns 36 next month, started a
home-based public relations business after
having a baby girl in 2003. She and her husband
upgraded to a larger home in 2005 and planned on
having a second child not long afterward. Then
the recession hit, drying up her husband's sales
commissions and leaving them owing more on their
home than it is worth. A second child seemed too
risky financially.
"However, we
just recently decided that it's time to stop
waiting and just go for it early next year and
let the chips fall where they may," she said.
"We can't allow the recession to dictate the
size of our family. We just need to move forward
with our lives."
|
top
8.20.10
* From ABC channel 7 in Denver, CO: "It could be years before jobs lost in 2009
will be replaced, according to a midyear economic update.
."
* This important report is from the Colorado Labor Twitter page. The press
release covers the month of July 2010:
"Colorado’s seasonally
adjusted unemployment rate remained unchanged at 8.0 percent in July, visit
to learn more."
PRESS RELEASE
|
|
Colorado Department of Labor and Employment • 633 17th
Street, Suite 1200 • Denver, CO 80202 • (303) 318-8004 •
Fax: (303) 318-8070 |
For
Immediate Release
Date: August 20, 2010/
9:00 A.M.
Contact: Office of
Government and Public Relations
Phone: (303) 318-8004
Fax: (303) 318-8070
Web:
http://lmigateway.coworkforce.com/lmigateway/
COLORADO
EMPLOYMENT SITUATION
July 2010
Labor Force[i]
Colorado’s
seasonally adjusted unemployment rate remained unchanged at 8.0
percent in July, according to Donald J. Mares, Executive Director of
the Colorado Department of Labor and Employment.
“Four months of stability in the unemployment rate combined with two
months of notable private-sector job growth is encouraging news,”
Mares said. “Our challenge is to sustain this growth over the second
half of the year,” he continued. Last July, the unemployment rate
was 8.1 percent.
The unemployment
rate (not seasonally adjusted) decreased in 50 of Colorado’s 64
counties, increased in 11 and was unchanged in 3. The lowest rate
was 2.5 percent in Hinsdale County and the highest was 14.2 percent
in Dolores County. In July 2009, the unemployment rate declined in
63 counties and remained unchanged in one. Last year, the lowest
rate was 2.5 percent in Hinsdale County and the highest was 13.1
percent in Dolores County.
The number of
working Coloradans decreased 7,400 over the month to 2,442,300. The
civilian labor force declined 6,800 to 2,655,600. The number of
residents unsuccessfully looking for work increased 600 over the
month to 213,300. One year ago, total employment was 2,484,900 and
the number of unemployed was 219,900. The civilian labor force has
declined 49,200 since July 2009.
Wage and Salary
Employment[ii]
The monthly
survey of Colorado business establishments indicates the number of
nonfarm wage and salary jobs increased 1,900 in July to 2,205,300.
Employment
increased in five of Colorado’s eleven major industry sectors over
the month. Leisure and hospitality employment increased 3,100 in
July. Education and health services added 1,800 jobs. Trade,
transportation and utilities gained 1,300 jobs, information 400,
and mining and logging 100. Construction employment declined 1,800.
Government and professional and business services each declined 800.
Other services and manufacturing each declined 500, and financial
activities decreased 400.
Nonfarm payroll
employment decreased 1.1 percent over the year, or 25,200, from the
July 2009 level of 2,230,500.
Employment
in four of Colorado’s eleven major industry sectors increased over
the year. Employment in education and health services increased
6,600, government 3,500, other services 600 and leisure and
hospitality 200. The remaining seven industry sectors declined over
the year. Construction, down 17,400, experienced the largest decline
of all industry sectors. Manufacturing declined 4,600, professional
and business services 3,800, and trade, transportation and utilities
3,600. Other losses included information (3,200), financial
activities (2,700), and mining and logging (800).
National[iii]
The Bureau of Labor Statistics reported that the unemployment rate held steady at 9.5 percent in July. Nonfarm payroll employment declined 131,000, reflecting a reduction of 143,000 temporary
employees working on Census 2010. Private-sector payroll employment increased 71,000 due to increases in manufacturing and health care. Private sector payroll employment has increased by 630,000
in 2010.
|
top
8.19.10
* ABC News reports that the
500,000 first-time (initial) job claims have equated for a rise of 12%
nationwide. American companies are not hiring, and the layoffs have not
ended by a long shot.
* Americans are filing for unemployment now, at a pace not seen since last
summer.
* Small companies accounted for more than 60% of all job losses. As
reported by the Labor Department.
* Layoffs are back: Spike in
unemployment claims points to weak job market, faltering recovery.
Read the entire
article.
*
Special Report With Bret Baier on Fox News Channel: Doug Elmendorf,
Congressional Budget Office Director, is quoted as saying, "Growth in GDP since
the middle of calendar year 2009 has been anemic in comparison with that of
previous recoveries following deep recessions." He goes on to say that
unemployment will not decrease to the 5% level until 2014.
* Interesting
article from ABC Channel 7 (Denver), in regards to jobless claims and their
startling rise of 500,000 in just *one week.*
* Special Report with Bret Baier has the
following posted on his site in response to the jobless claims rise:
|
New Jobless Benefits Claims Leap to 500,000, Highest
Since November
Published
August 19, 2010
WASHINGTON -- New
applications for unemployment insurance reached the half-million
mark last week for the first time since November, a sign that employers
are likely cutting jobs again as the economy slows.
The
Labor Department said Thursday that initial claims for jobless benefits
rose by 12,000 last week to 500,000, the fourth increase in the past
five weeks. Wall Street economists forecast that claims would drop.
The
four-week average, a less volatile measure, rose by 8,000 to 482,500,
the highest since December. There were no special factors that distorted
the numbers, a Labor Department analyst said.
The
increase suggests the economy is creating even fewer jobs than in the
first half of this year, when private employers added an average of
about 100,000 jobs per month. That's barely enough to keep the
unemployment rate from rising. The jobless rate has been stuck at 9.5
percent for two months.
Stock futures fell on the news. The Dow Jones industrial average futures
had risen more than 50 points before the report was released. They
dropped quickly and were down as much as 20 points afterward.
Jobless claims declined steadily last year from a peak of 651,000 in
March 2009 as the economy recovered from the worst downturn since the
1930s. After flattening out earlier this year claims have begun to grow
again.
The number of people
continuing to receive benefits fell by 13,000 to 4.5 million, the
department said. The continuing claims data lags initial claims by one
week.
But that doesn't include
millions of people receiving extended unemployment insurance, paid for
by the federal government. About 5.6 million unemployed workers were on
the extended unemployment benefit rolls, as of the week ending July 31,
the latest data available. That's an increase of about 300,000 from the
previous week.
During the recession,
Congress added up to 73 extra weeks of benefits on top of the 26 weeks
customarily provided by the states. The number of people on the extended
rolls has increased sharply in recent weeks after Congress renewed the
extended program last month. It had expired in June.
Private employers added
only 71,000 jobs in July. But that increase was offset by the loss of
202,000 government jobs, including 143,000 temporary census positions.
July marked the third
straight month that the private sector hired cautiously. Economists are
concerned that the unemployment rate will start rising again because
overall economic growth has weakened significantly since the start of
the year.
In a healthy economy,
jobless claims usually drop below 400,000. But the recent increases in
claims provide further evidence that the economy has slowed and could
slip back into a recession. Many analysts are worried that economic
growth will ebb further in the second half of this year.
After growing at a 3.7
percent annual rate in the first quarter, the economy's growth slowed to
2.4 percent in the April-to-June period. Some economists forecast it
will drop to as low as 1.5 percent in the second half of this year. |
* Here is the
latest information about the Colorado State Extended Unemployment Benefits:
August 18, 2010
"Since the recent
extension we have paid over $44 million in federal and
state extended benefit payments. Programming for state
extended benefits 2 is near completion and payments will
begin in 5-7 business days. The requirements to qualify
for state extended benefits are available on the
State Extended Benefits
Web page. If you have run out of money on Tier III, you
may sign up for state extended benefits using the
SEB Online Application."
|
top
8.15.10
* Sunday Denver Post
article:
Super-Low Mortgage Rates Haven't Stimulated Home-Buying Market
An
"available" sign sits
outside a house for sale
in Boise, Idaho. Even
the lowest mortgage
rates in 60 years aren't
stimulating the housing
market. First and second
mortgages are difficult
to arrange. And some who
might consider buying
are staying away for
fear that home prices
and values will fall
further.
( Matthew Staver,
Bloomberg News )
Mortgage rates have reached
historic lows, with the average
rate on a 30-year mortgage
dipping to 4.44 percent last
week, according to mortgage
buyer Freddie Mac.
But
industry insiders haven't seen a
repeat of past cycles, where
borrowers lined up like settlers
in a land rush, anxiously
staking their claims to lower
payments.
A lack
of home equity, tighter loan
standards, less-stable incomes
and problems with second
mortgages could block many
people from seizing the lowest
mortgage rates in 60 years.
Additionally, many homeowners
just refinanced when rates were
at around 5 percent and can't
afford to do it again.
And
some homebuyers, especially
investors, are avoiding
mortgages altogether.
Mortgage originations this year
are expected to be well below
half the levels seen in 2003,
when mortgage rates hit what was
then a low of 5.21 percent.
More
than $4 trillion in loans was
done in 2003, said Amy Crews
Cutts, deputy chief economist
with Freddie Mac.
Fears
surrounding heavy government
deficits in Europe, worries
about the U.S. economic recovery
stalling and Federal Reserve
actions have all pushed down
interest rates.
Despite
that unprecedented combination
of events, many borrowers won't
be able to take advantage
because of strict lending
standards and a lack of home
equity.
"Borrowers with '800' credit
scores are having difficulties
getting a loan," said Mike
Thomas, a mortgage broker with
Hyperion Capital Group LLC in
Greenwood Village. "They are
making it incredibly difficult."
Standards called too tight
By some
estimates, 30 percent to 40
percent of borrowers may be
blocked out of the market
because they don't have enough
equity in their homes, have
credit scores that are too low,
don't make enough income or
otherwise don't qualify.
Lou
Barnes, with Premier Mortgage
Group in Boulder, blames Freddie
and its sister company Fannie
Mae for loosening their
standards when the market was
overheated and tightening them
too much when the markets needed
credit, rather than maintaining
consistent underwriting like the
Federal Housing Administration.
Although loosening is a relative
term, Cutts said credit
standards do appear to be easing
somewhat, whether it is the
return of no-cost refinancings
or wider access to private
mortgage insurance.
She
also said a heavier reliance on
cash is a key reason why 2010
won't look like 2003 in terms of
activity.
About a
quarter of existing home sales
are being done in cash, compared
with 5 percent or 10 percent in
the past, she said.
Right
now investors, who don't have
easy access to bank loans, are
paying cash to buy homes and
convert them into rentals, a
trend that can't continue
indefinitely.
Another
problem is that some
second-mortgage lenders are
blocking borrowers who otherwise
qualify for a refinance, Cutts
said.
With $1
trillion in second mortgages
floating out there, the issue
isn't an insignificant one.
When
the first mortgage lender steps
out in a refinance, the second
mortgage lender moves into first
position.
Refinancing requires
subordination, or an agreement
by the second mortgage lender to
go back behind the new first
mortgage lender.
Some do
it willingly, realizing a
borrower with a lower first
mortgage payment will have more
spare income to stay current on
the second.
But it
gets more complicated when a
house doesn't have enough equity
to cover both loans. A
second-mortgage lender may hold
a refinance hostage to get the
borrower to repay the loan and
remove a risky credit from the
books.
A third
group of lenders, grappling with
loan modifications and
foreclosures, don't respond in
time, delaying a refinancing to
the point where it falls apart.
Rates should stay low awhile
If
there is any consolation for
those blocked out of the market,
it is that rates are likely to
stay low for a sustained period.
That is different than in 2003
and 2004, when the general
sentiment was now or never.
Barnes
called the inability of low
rates to stimulate the housing
market a worrisome sign.
Although refinancings are up, a
weekly survey of mortgage
applications for purchases shows
them down nearly 40 percent
since April, when two homebuyer
tax credits ended.
Refis
have risen to about 80 percent
of all applications, compared
with about half back in April.
A huge
shadow inventory exists of homes
owned by people who would like
to sell but fear not getting
enough, Barnes said.
New
buyers are hesitant to step into
that shadowland of falling
prices, and lower mortgage rates
alone won't give them courage.
"Once
the marketplace loses faith in
the price of housing, it doesn't
make a difference if interest
rates are 2 percent," Barnes
said.
Aldo Svaldi: 303-954-1410
or
asvaldi@denverpost.com
|
|
|
|
|
top
8.14.10
* July 2010 -
U.S. Unemployment Statistics
top
8.13.10
* DenverDads.net vocabulary: "99-ers," Def.- Those people for whom 99
weeks of unemployment benefits are not enough.
* The "New Normal" seems to be that the jobless are remaining that way.
* Private job openings fall for the 2nd straight month, suggesting that hiring
will not pick up any time soon.
* $165 billion were added to the United States' over $1 T deficit in the month
of July 2010.
* July 2010 statistics:
-
- Jobless
claims were up by 484,000. This is the highest since February
of this year.
-
-
Unemployment is now at a national level of 9.5%
-
- 14
million people looking for work.
-
- 25
million people TOTAL, if those who have simply given up job
searching are added to the count.
-
- 92,858
foreclosures. This figure is up 9% from one month previous.
-
- For comparison, 100,000 were foreclosed on, in all of 2005.
*Updated information from the Colorado Dept of Labor in regards to further State
Extended Benefits:
Latest on State Extended
Benefits 2 (SEB2)
We are still working on
programming for state extended benefits. We will keep
you informed when this piece is ready. The requirements
to qualify for state extended benefits are available on
the
State Extended Benefits
Web page. If you have run out of money on Tier III, you
may sign up for state extended benefits using the
SEB Online Application.
|
top
8.12.10
*As reported on
Ch 7 -
TheDenverChannel.com (Denver, CO): Jobs picture dims as unemployment claims
rise. New claims are at their highest level in 6 months. Click
here for full report details.
*Foreclosure statistics have surged once again, just hours after the DJIA closed
yesterday at 265.42 (down nearly 2.5%).
*This extrapolates into foreclosures being higher by 4% in July 2010 than the
same time in 2009.
*In the United States now, 1 in every 397 homes have received foreclosure
notices.
*In Colorado alone, the month of July 2010 have seen 4,980 filings. This
is a high number, but still down by 9.3% from July 2009.
*Colorado has the 13th highest rate of foreclosure out of all 50 states.
*And now for something completely different. Everyone deals with bank fees
at some point in their live. Depending on the fee(s) associated with your
checking account, and the way transactions are processed, you could be looking
at couple hundred dollars in overdrafts every month. This eye-opening
practice is not only shady, but it's also now against the law. The
federal judge responsible for ruling against Wells Fargo has called this "unfair
and deceptive practices."
The blog "Fools and Sages - It's All About the Money" recently reported on this
in an entry labeled, "Judge Rules Against Wells Fargo's Overdraft Practices."
Andrea writes,
More than once over the last few
years, I’ve brought up the slimy
practice of banks regarding the
reordering of transactions in
order to maximize overdraft
fees. Most recently, from
September
9, 2009, an example
of this process:
Let’s say you had $500 in
your account and had 5
transactions hit your
account on the same day –
debits for $487, $23, $15,
$7 and $3. When they all go
through, you will be
overdrawn by $35.
If the bank were to clear
all four of the smaller
transactions “first,” you
would only be charged on $30
overdraft fee for the $487
debit. If, however, the bank
clears the $487 first and
then the $23, you will in
overdraft immediately and
will pay four $30 fees –
$120, a difference of $90 in
fees simply because of the
order in which the bank
chooses to process the
debits.
I also mentioned in that post
that suits were being brought
against the banks, and from the
New York
Times we have an article
reporting that on Tuesday, a
federal judge ordered Wells
Fargo to pay $203 million to
customers in restitution for
exactly this type of practice.
Instead of processing
transactions in the order in
which they were received,
Wells Fargo put through the
largest to smallest, a judge
in San Francisco found. In a
stinging 90-page opinion,
United States District Judge
William Alsup wrote that the
practice was unfair and
deceptive.
“The bank’s dominant,
indeed sole, motive was to
maximize the number of
overdrafts and squeeze as
much as possible” out of
customers who spent more
than they had in their
accounts, the judge wrote.
The ruling comes after a
two-week trial in the spring
heard by the judge.
Wells Fargo is disappointed
in the ruling, of course, saying
that they only had the law and
their customers’ best interests
at heart. They pay the larger
checks, they say, because those
tend to be things like rent and
bills and customers want those
to go through. Judge Alsup
knocked that argument down with
the common sense comment that a
small check can be just as
important as a large check,
depending on what it’s for, and
the banks shouldn’t make
sweeping policies – especially,
he implied, when it conveniently
means maximizing fees that can
spiral customers into crushing
financial situations.
I hope to see other bank
suits come through with similar
results, with the full
understanding that the banks
will find even sneakier ways to
part you with the money you
entrust to them for safekeeping.
Fortunately for them, now that
they’re considered individuals
and can spend as much as they’d
like to get the legislators they
like into office, it should be
even easier to do so in the
future than ever before.
|
*The
Decline: The Geography of a Recession. An ABC News report of
unemployment figures from Jan 2007 to June 2010.
top
8.10.10
*LATEST NEWS ON COLORADO EXTENDED UNEMPLOYMENT BENEFITS*
*From ABC News: The
possibility for a double-dip recession is becoming more of a reality, as the Fed
says the economic recovery is more modest than previously expected.
*Interest rates are being held the same, at a rate of 0% to .25% for an
"extended period of time."
*Proceeds from the mortgage bail out are being reinvested into US Treasury bonds
(a direct link to the national interest rates).
*The House has approved $26 billion to the states in order to save 300,000 jobs.
top
7.27.10
Latest on Colorado's Extended
Benefits.Learn
More

top
7.15.10
*Foreclosures up more than 1 million in 2010.
*528,000 in June alone.
*In the state of CO, 30,177 foreclosures in the last 6 months. Up more than 13%.
top
3.26.10
*Unemployment in the state of Colorado is back up to 7.7%. Read the full
story at
9News.com.
top
12.12.09
*New
and important update for Tier III Emergency Unemployment Benefits in the
state of Colorado.
top
12.05.09
*Unemployment by the numbers - an interactive graph. Click
here.
*The unemployment rate has taken a small dip from 10.2% to 10%. Click
here
for the full article in the Denver Post. The past month saw the least
amount of jobs, 11,000, since the recession began.
*According to Fox News
article,
a record number of HR workers say that electronic resumes get an average 10 to
20 second glance before being closed. This is due to the sheer volume of
resumes received, per job listing.
top
11.24.09
*Update from
ABC News. Home prices in the United States have fallen 8.9% from this
time last year.
- Three specific cities have the following percentages:
Denver - down 1.2% year over year. Dallas - down 1.2%. Phoenix -
21.8%.
*Click here for two
interesting articles, from The Wall Street Journal, about underwater mortgages.
(page still under construction)
top
11.20.09
*Update from
ABC News. Twenty nine states saw unemployment rates rise in the last
month, alone.
- The State of California currently has an unemployment rate of 12.5%
- Michigan is still the worst in the nation, at over 15%.
top
11.16.09
*Approximately 5,000 people, on average, are losing their jobs each week in CO.
Phone lines at the
Colorado Unemployment Office have not been "fixed" three months after they
discussed the matter with
Denver's Channel 7 News. In addition, the phone bank at the Office are
still under-staffed, over-worked, and are still averaging a wait of at least
45-60 minutes.
top
10.23.09
*The latest unemployment
information by the United States Bureau of Labor Statistics show a national
rate of unemployment for September 2009 at 9.8%, or 15.1 million jobs.
This is double the rate since the recession began in December 2007.
top
10.21.09
*Colorado's unemployment numbers have fallen to 7% for the month of September
2009 - down from 7.3% in August of the same year. Every little bit helps!
Data obtained from Channel 7, Denver CO
top
10.17.09
*The mortgage crisis that has negatively affected most of the country now has
some updated and sobering data. According to ABC News data, in the 3rd
quarter of 2009 there were 937,840 foreclosures nationwide. That total
breaks down as follows:
- 1 of every 136 homes were in foreclosure status.
- 425 homes went into foreclosure every hour, 7 every minute. Everyday in
the United States there are 10,000 foreclosures.
- 2.2 million homeowners have fallen into foreclosure so far in 2009.
One
in every ten homeowners' mortgages are currently more than 30 days late.
Threatened foreclosures were up by 23% from the 3rd quarter of 2008.
top
6.21.09
*Unemployment figures for the month of May 2009, state of Colorado: 7.6%.
Compared to May 2008 4.7%.
*48 states have seen dramatic increases in the past year. Michigan has the
nation's highest unemployment, at 14.1%.
*Interesting
article from ABC News on What Laid-Off Fathers Want.
*Have you had to take a pay cut, just to keep your job? Go to our
blog and tell us your story.
- ABC News
article on taking pay cuts.
top
6.8.09
*Jobless rate in U.S. jumps to 25 year high of 9.4% in May, although layoffs
slowed for the first time since Sept. 08.
5.4.09
- *March 2009 -
U.S. Unemployment Statistics
*Click
here to apply for Colorado Emergency Unemployment Compensation online
application
- Are you eligible to apply?
*Economy on
the rise? Click
here.
*Updated
resources section!
top