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Economy
9:57 am
Fri September 14, 2012

Discouraged in hunt for a job, many stop looking

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Credit Chip Somodevilla / Getty Images
A job fair was held at the The Walter E. Washington Convention Center in Washington, D.C., last month. The U.S. unemployment rate declined in August in part because the number of "discouraged workers" climbed.
Credit Courtesy of Geoff Dutton
Geoff Dutton, an unemployed software developer, has given up on finding a job. He says the market has shifted, and he could not keep up. "I wasn't up on the new version of everything anymore," he says.
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Originally published on Fri September 14, 2012 10:43 am

The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren't.

The reasons people drop out of the workforce are myriad. People go back to school. Others have health issues or family priorities that keep them from looking for work. But some stop looking because they are discouraged.

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The Two-Way
11:59 am
Thu September 13, 2012

Federal Reserve announces new round of economic stimulus

Credit Ted S. Warren / AP
Federal Reserve Chairman Ben Bernanke arrives for a dinner at the Jackson Hole Economic Symposium on Thursday.
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By Eyder Peralta

Originally published on Thu September 13, 2012 12:22 pm

Update at 12:31 p.m. ET. Federal Reserve Announces QE3:

The Federal Reserve announced it would spend $40 billion a month on bond purchases in an effort to stimulate the economy and drive the the unemployment rate down.

The Wall Street Journal says that unlike the first two rounds of Quantitative Easing, this time the Fed will focus solely on buying mortgage-backed securities.

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Economy
11:40 am
Thu September 13, 2012

Asian Carp May Finally Sever Ties Of Mississippi With Great Lakes

Credit Great Lakes Commission
Proposed Asian Carp barrier sites
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Earlier this spring the Obama administration ordered the U.S. Army Corps of Engineers to speed up a five-year study of options to block invasive Asian carp from entering the Great Lakes.

Many biologists say the best solution would be complete separation of the Great Lakes from the Mississippi River watershed.

But basin separation comes with its own multi-billion dollar price tag, and would require re-plumbing the entire City of Chicago.

By most accounts, this story began in 1900, the year the Chicago Sanitary and Ship Canal was complete. 

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