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Last week’s announcement by Standard & Poor’s that it was cutting the outlook on our nation’s long-term rating from stable to negative for the first time in 70 years was a cold, hard reality check—we need to get our fiscal house in order sooner, rather than later, or suffer the consequences.
It’s hard to imagine with 8.8% unemployment that America will soon be facing a worker shortage as 77 million baby boomers begin retiring. Many businesses already face a skills shortage, unable to find qualified workers for positions that are open. There is a great untapped resource, however, to which these businesses can turn—individuals with disabilities.
Employers in hiring mode should not discount workers with disabilities, according to business leaders attending a half-day summit hosted by the U.S. Chamber and the US Business Leadership Network® (USBLN®)
Are more lawsuits the answer to our sluggish economy? Certain trial lawyers seem to think so. They are working hard to make lawsuits a growing and thriving industry. They are exhibiting the same zeal, entrepreneurialism, and creativity as the small business innovators who are leading our economic recovery. The difference is that lawsuits undermine businesses of all sizes, our competitiveness, and our economic recovery.
Jobless Claims
Initial jobless claims for the week ending April 2 fell to 382,000, a decrease of 10,000 from the prior week. The four week moving average declined by just under 6,000 to 389,500. Continuing claims fell 9,000 to 3.72 million, while the four week moving average for continuing claims fell 24,000 to 3.75 million. The insured unemployment rate was unchanged at 3.0 percent. Going forward, jobless claims should continue to decrease at a moderate pace and will hopefully stabilize around 350,000 in the middle of this year.
The nation’s infrastructure—the lifeblood of our economy—is in rapid decline, the victim of underinvestment. A 2008 report estimated that the United States needs to invest $250 billion annually for the next 50 years to legitimately meet only surface transportation needs. We’re nowhere near that level of investment.
