Tag Archives: Unemployment

Milei’s ‘twin extractivism’ reforms threaten Argentina and the planet

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Argentina’s debt will grow as Big Tech extracts data and knowledge, forcing state to abuse nature to pay it off

By Cecilia Rikap. Published 6-28-2024 by openDemocracy

Javier Milei, President of Argentina speaking at the World Economic Forum Annual Meeting in January 2024. Photo: World Economic Forum/flickr/CC

Argentina’s far-right president Javier Milei secured early this morning his first major win in office, with the country’s lower chamber passing the first of his landmark regressive reforms. Congress’s approval of the so-called Ley Bases, or the Bases Law, came weeks after the bill prompted a 13-hour debate in the upper chamber and a peaceful demonstration outside Parliament that was met with fierce police repression.

The legislation – which is a key part of Milei’s anarcho-liberal government plan – promotes investment in extractive industries, such as forestry, construction, mining, energy and technology. It includes a Large Investment Incentive Scheme (RIGI, by its Spanish acronym) that will grant extractive investment projects worth at least $200m lower income tax, authorise them to import fixed capital and tax only their exports in the first three years.

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Extra SNAP benefits are ending as US lawmakers resume battle over program that helps low-income Americans buy food

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For some Americans, the decline will be quite sharp.
Michael Loccisano/Getty Images

 

Tracy Roof, University of Richmond

Millions of Americans will find it harder to put enough food on the table starting in March 2023, after a COVID-19 pandemic-era boost to Supplemental Nutrition Assistance Program benefits comes to an end. Congress mandated this change in budget legislation it passed in late December 2022.

Roughly 41 million Americans are currently enrolled in this program, which the government has long used to ease hunger while boosting the economy during downturns.

Many families enrolled in the program, commonly known as SNAP but sometimes called food stamps, stand to lose an average of roughly US$90 per person a month. Continue reading →

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US Unemployment System ‘Wholly Unprepared’ as Fed Risks Throwing Millions Out of Work

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“If another wave of job losses does indeed hit, the unemployment safety net isn’t ready to cushion the blow without significant improvements,” warns the co-author of a new study.

By Jake Johnson  Published 11-1-2022 by Common Dreams

People’s Unemployment Line protest in Philadelphia, 2020. Photo: Joe Piette/flickr/CC

With the Federal Reserve poised to induce mass layoffs in its ongoing campaign to curb inflation, a study published Tuesday warns the notoriously fragmented U.S. unemployment system is nowhere near ready to handle another surge in jobless claims, potentially spelling disaster for the millions of people who could be thrown out of work next year.

Authored by Andrew Stettner and Laura Valle Gutierrez of The Century Foundation (TCF), the new analysis notes that “the share of jobless workers actually receiving UI benefits has shrunk dramatically” since federal benefit increases expired last year. According to TCF, just 26.8% of jobless workers were receiving state unemployment benefits in the 12 months that ended in August 2022, a sharp decline from the 76% rate through early 2021. Continue reading →

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Misogyny helped South Korea’s president win. Now feminists are fighting back

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Yoon Suk-yeol was swept to victory on a wave of ‘anti-feminism’ among young Korean men. Now, he wants to abolish the Ministry of Gender Equality

By Hannah Pham.  Pubished 3-26-2022 by openDemocracy

Yoon Seok-youl leaves the main opposition People Power Party’s headquarters in Seoul on July 30, 2021 Photo: 고려/Wikimedia Commons/CC

“I threw up and cried.” This was 30-year-old Haein Shim’s reaction to the results of South Korea’s presidential election, held on 9 March. As the senior director of foreign media of Seoul-based feminist group Haeil (translated as ‘Tsunami’), Haein had felt neither candidate was necessarily a strong or progressive choice. But ultimately it was Yoon Suk-yeol of the People Power Party – in Haein’s eyes, the worse of two evils – who won.

“We have to choose the head of the state, but there is no candidate for women to choose from,” says Haein, who originally hails from Gwangju in south-west South Korea and now lives in the US. “No candidate sees women as they really are.” Continue reading →

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As Pandemic Wiped Out Workers, Covid Crisis Proved No Obstacle to Soaring CEO Pay

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“This should have been a year for shared sacrifice,” said one economist. “Instead it became a year of shielding CEOs from risk while it was the frontline employees who paid the price.”

By Kenny Stancil, staff writer for Common Dreams. Published 5-28-2021

Carnival CEO Arnold Donald’s pay package in 2020 surged to $13.3 million, a 19% increase over the previous year, even though the cruise operator recorded losses of $10.2 billion. Photo: World Travel & Tourism Council/flickr/CC

Even as the Covid-19 pandemic created record losses in the second quarter of 2020—and claimed the lives and livelihoods of millions of workers—median CEO pay in the U.S. increased yet again last year, according to a new analysis.

At a time when “CEOs’ big pay packages seemed to be under as much threat as everything else,” many boards of directors “made changes to the intricate formulas that determine” executive compensation to “make up for losses created by the crisis,” the Associated Press reported Friday. Continue reading →

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America ‘Should Be Ashamed’: Texas Teen Forced to Use College Savings to Prevent Mom’s Eviction

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“Americans owe $70 billion in back rent that they won’t be able to pay. If we don’t get them relief, there will be millions of stories like these.”

By Kenny Stancil, staff writer for Common Dreams. Published 2-10-2021

“This is not a feel-good story,” said Public Citizen on Tuesday, February 9, 2021. “It’s a dystopian nightmare.” (Photo: Twitter screengrab from ABC7 News)

After Alondra Carmona, a high school senior in Houston, recently exhausted all of her college savings to prevent her unemployed mother from being evicted, one media outlet on Tuesday tried to portray it as an “act of kindness,” but progressives are emphasizing that the all-too-common story is an indictment of a deeply unequal society reliant on private charity as a result of policymakers’ failure to guarantee livable incomes, affordable housing and higher education, and more.

“In February of 2020, my mom broke her ankle and was not able to work,” Carmona explained in a GoFundMe ad she created to support her family. “Come March, the coronavirus started, which added to the financial problems we already had. Today, I found out that my mom has not had a job for 3 months and hid it from us. She owes two months of rent and will most likely get evicted in March.” Continue reading →

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‘Hunger Like They’ve Never Seen It Before’: US Food Banks Struggle as 1 in 6 Families With Children Don’t Have Enough to Eat

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“We’re now seeing families who had an emergency fund but it’s gone and they’re at the end of their rope,” said one Texas food bank director.

By Brett Wilkins, staff writer for Common Dreams. Published 11-27=2020

Lines for a food bank in Little Rock, Arkansas. Screenshot: CNN

One in six U.S. families with children don’t have enough to eat this holiday season, a national emergency exacerbated by the coronavirus pandemic and the unemployment crisis it has generated. Over the past several days, remarkable reporting in the Washington Post and National Geographic, among other outlets, has explored this alarming trend.

According to Feeding America, the largest hunger relief organization in the U.S., more than 50 million people will experience food insecurity by the end of the year. Among U.S. children, the figure rises to one in four. The group, which runs a network of some 200 food banks across the nation, says it distributed over half a billion meals last month alone, a 52% increase from an average pre-pandemic month. Continue reading →

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Experts Warn Trump Executive Action on Unemployment Insurance Deliberately Leaves Out Poorest Americans

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“Literally every new detail about these executive orders confirms that in addition to being wildly unconstitutional, they will do absolutely nothing to help anyone who’s suffering.”

By Jake Johnson, staff writer for Common Dreams. Published 8-10-2020

On top of serious questions about the directive’s legality and workability, experts are warning that President Donald Trump’s executive action to extend the federal unemployment insurance boost at $400 per week—using $44 billion in funds meant for disaster relief—leaves out the poorest Americans by design.

The language of Trump’s unemployment memorandum issued over the weekend defines “eligible claimants” as those receiving “at least $100 per week” in state unemployment benefits—meaning that laid-off workers currently receiving less than $100 per week in aid will not see a dollar in federal relief unless states agree to increase their benefits. Continue reading →

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With GOP Refusing Urgent Relief for Main Street, Tens of Thousands of Shuttered US Businesses Now Closing… Permanently

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Permanent closures now account for 55% of all closed businesses since March 1.

By Julia Conley, staff writer for Common Dreams. Published 7-24-2020

Photo: Mike Mozart/flickr/cc

With Republicans in Congress intent on drastically reducing aid for unemployed Americans and altering the Paycheck Protection Act in the next coronavirus relief bill, workers across the country are rapidly losing hope that they will ever be able to return to their jobs, according to new polling.

A survey released Friday by AP-NORC found that while 78% of workers who were furloughed or laid off in the early days of the pandemic believed in April that they’d be able to return to work eventually, just 34% are optimistic about their prospects now. Just 18% have already returned to their jobs, and 47% say they no longer believe their old jobs will be available ever again.  Continue reading →

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‘Should Be Bigger News’: Analysis Finds Nearly One Third of Owed Unemployment Benefits Have Not Been Paid

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Bloomberg found a $67 billion gap between the sum of benefits paid out by the Treasury Department and the amount that is owed to jobless Americans.

By Jake Johnson, staff writer for Common Dreams. Published 6-3-2020

Volunteers at the North Texas Food Bank. Photo: North Texas Food Bank/Twitter

A Bloomberg analysis released Tuesday estimates that nearly a third of the unemployment benefits owed to jobless Americans have not yet been paid out, a finding critics described as a “scandal” deserving of more media attention as millions of people struggle to afford basic expenses due to the Covid-19 pandemic.

“The Treasury disbursed $146 billion in unemployment benefits in the three months through May,” Bloomberg reported. “But even that historic figure falls short of a total bill that should have reached about $214 billion for the period, according to Bloomberg calculations based on weekly unemployment filings and the average size of those claims.” Continue reading →

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