There are many ways to measure the health of the economy; one way is to count the number of vacancies in your local mall. According to a report from real estate research firm Reis vacancies at malls are up 6.6 percent this year, the largest increase since 2002. Strip malls and open air shopping centers aren’t faring any better with vacancies at 8.4 percent, the highest rate since 1994.
New York City workers who jobs are dependent on the health of the financial sector could be looking at hard times. Jesse Russell reports:
New York City Comptroller William Thompson had a dire projection for employment over the next two years. Thompson estimates that 165,000 jobs could be lost in the city due to problems in the financial markets. Thirty five thousand of those jobs could come directly from the financial sector. New York City is the heart of the country’s financial industry and as banks file for bankruptcy or are bought out jobs are expected to be lost. The losses brought on by the financial crisis are being reflected in decisions by New York City Mayor Michael Bloomberg.
By Doug Cunningham
Dr. James Parrot of New York’s Fiscal Policy Institute says a new study by the Center for Economic Policy Research reveals that median wages for young U.S. workers today are lower than 30 years ago. Unions, Parrot says raise those wages by an average of 13 percent.
[Parrot]: “Unions make an important difference in the compensation and the pay and benefits that young workers receive. And that could be one of the reasons why young workers – young people generally – are so anxious for significant economic change in this country because they see that their living stand
GM announced on Thursday it plans to cuts 1500 jobs; 400 in Delaware, and 700 in Michigan. The three plants being targeted for cuts produce large sedans and pick-ups. The automobile industry saw it’s sharpest decline in 17 years during September as sales plummeted 27 percent.
By Doug Cunningham
ACORN individuals it hired may have turned in false voter registrations but ACORN itself is not falsifying voter registrations as portrayed by John McCain’s campaign and some corporate media reports. ACORN’s Austin King says the vast majority of ACORN’s 1.3 million new registrations are legitimate and will give low income voters a real voice.
[King]: “This was a phenomenal effort that made our voter roles look more like America. And because of that the electorate that shows up on November 4th will look more like America. And when more low-income people participate, we get more power.”
This weekend, the United Steelworkers (USW) “Steel Blitz for Barack” bus tour hits the road with Pittsburgh Steelers team owner Dan Rooney, former Steelers players, USW President Leo W. Gerard and Ohio Gov. Ted Strickland (D).
Between now and Nov. 1, the Steel Blitz bus tour will make stops throughout southwestern Pennsylvania and southeastern Ohio. The tour is mobilizing USW members and union families for the final push of the election campaign.
This past Saturday in West Mifflin, Rooney told the crowd gathered at USW Local 2227′s union hall that he came to his decision to support Sen. Barack Obama after hearing him speak out about helping middle-class families.
That’s the reason I endorsed Barack Obama—seeing the man and seeing what he stood for. He is a person of intelligence, of integrity who wants to move this nation beyond its religious and racial divisions.
With the economy in meltdown and record numbers of young voters on the rolls, a new report demonstrates how important the November election could be for younger workers. The report from the Center for Economic and Policy Research (CEPR) shows young workers are taking some of the hardest hits from the stagnant wages and economic problems over the past three decades. They earn about 10 percent less than their counterparts did in 1979, according to the report, despite impressive gains in young workers’ educational attainment over the same time period.
The good news is that young workers—between ages 18 and 29—who join a union earn, on average, 12.4 percent more than their nonunion peers. In addition, the report, Unions and Upward Mobility for Young Workers, found that young union workers are 17 percentage points more likely to have employer-provided health insurance and 24 percentage points more likely to have an employer-provided pension plan than young workers who were not in unions.
Sen. John McCain tried to make political hay during last night’s presidential debate by repeatedly citing references to “Joe the plumber.”
Instead, McCain’s repeated references to Joe Wurzelbacher (let’s be adults here and call him by his full name, rather than objectify him, shall we?) gave Sen. Barack Obama the opportunity to explain before a prime-time audience of millions how his tax plan would benefit 95 percent of America’s working people.
In their final debate last night, Sens. Barack Obama and John McCain clashed on a variety of issues, from health care to trade to education, and left working families with no doubt that Obama is the candidate who has the record, the policy plans and the vision to turn around America.
Speaking frequently to viewers at home, Obama reiterated his strong economic message, making clear he understands strengthening the economy requires leadership to rebuild our middle class, provide jobs and invest in long-term solutions in energy, health care and education. The contrast between Obama’s focus on these critical issues and McCain’s scattered attacks was obvious. Whenever McCain tried to pull the debate away to misleading character attacks or superficial issues, Obama pulled it back to the central issues that voters care about.
There is nothing wrong with us having a vigorous debate like we’re having tonight about health care, about energy policy, about tax policy. That’s the stuff that campaigns should be made of.