"Drought’s impact on Mississippi River causes disruptions in shipping and agriculture" PBS NewsHour 11/17/2022
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SUMMARY: Up and down the Mississippi River basin, below-average rainfall has constricted one of the country’s major economic thoroughfares. Some areas along the river are reporting their lowest water levels in decades and it could affect consumers across the country. William Brangham reports.
"Why Native Americans are excited about the American Rescue Plan, and their future" PBS NewsHour 4/23/2021
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SUMMARY: Last month, Congress approved a record amount of money for Native American tribes in the American Rescue Plan. On Friday, First Lady Jill Biden spent the second of two days meeting with Navajo officials and hearing about their needs, after a devastating COVID-19 outbreak on the Navajo Nation last year. Stephanie Sy reports on what the future could look like for indigenous Americans.
"Strong jobs report offers signs of hope for an economic recovery" PBS NewsHour 4/2/2021
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SUMMARY: The U.S. Labor Department reported Friday a net gain of 916,000 jobs last month, the most since August, while the unemployment rate fell to 6 percent. The upbeat jobs report seems to confirm some economists' forecasts that the economy is on its way to recovery. Louise Sheiner, of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joins William Brangham to discuss.
"Breaking down Biden’s $2 trillion infrastructure plan to give U.S. ‘innovative edge’" PBS NewsHour 3/31/2021
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SUMMARY: The Biden administration on Wednesday set in motion its next big campaign in congress: A $2 trillion infrastructure plan to rebuild roads, bridges, power grids and other projects. The rollout came during President Joe Biden's visit to Pittsburgh today, and partisan battle lines began forming soon after. White House Correspondent Yamiche Alcindor reports.
"Buttigieg says new infrastructure plan ‘looking to the future,’ helps long-term job growth" PBS NewsHour 3/31/2021
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SUMMARY: The Biden administration on Wednesday set in motion its next big campaign in congress: A $2 trillion infrastructure plan to rebuild roads, bridges, power grids and other projects. Transportation Secretary Pete Buttigieg joins Judy Woodruff to discuss the plan.
From the cheapskate party.....
"Rep. Davis says Pelosi, Schumer not for bipartisanship on infrastructure plan" PBS NewsHour 4/1/2021
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SUMMARY: The Biden administration's plans to spend hundreds of billions to address climate change as part of the latest infrastructure package has been likened to The Green New Deal proposal released by Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Ed Markey (D-Mass) in 2019. Republican Rep. Rodney Davis of Illinois serves on the Transportation and Infrastructure Committee and joins us now to elaborate.
"Hiring slows in the U.S. as millions face losing unemployment benefits" PBS NewsHour 12/04/2020
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SUMMARY: The latest jobs report released by the Department of Labor Friday estimates the economy has not yet replaced about 10 millions jobs lost last spring, with many Americans now close to losing their unemployment benefits. Wendy Edelberg, director of the Hamilton Project and a former chief economist for the Congressional Budget Office, joins Amna Nawaz to discuss the country's economic outlook.
SUMMARY: Coronavirus infections and deaths are still climbing in much of the nation, and Florida has become the new national epicenter. With Congress back in session after recess, continuing COVID-19 increases are fueling urgent negotiations on an economic rescue package. But lawmakers are deeply divided about what the legislation should include. Lisa Desjardins reports and joins Judy Woodruff to discuss.
SUMMARY: With Congress back in session, lawmakers are considering another round of coronavirus relief. Two of the major sticking points are prolonging increased unemployment benefits and protecting against coronavirus-related lawsuits. What do Americans think about these two issues, as they grapple with the pandemic’s economic fallout? We hear some of their opinions.
SUMMARY: Many Americans plan to save for retirement in their 50s. But what happens if you're laid off at that age instead? According to researchers, the situation is common, and older workers have a harder time finding a new job -- especially one that pays their previous salary. Economics correspondent Paul Solman talks to 59-year-old Jaye Crist, who works three jobs for 70 percent of his former income.
SUMMARY: Nearly 50,000 workers at General Motors plants across the country went on strike at midnight Sunday, bringing production to an immediate halt. It’s the first nationwide work stoppage since 2007 for United Auto Workers, which says it hasn't been able to agree with management on key issues like pay raises and limits on using temporary workers. John Yang reports and talks to USA Today’s Nathan Bomey.
SUMMARY: Democratic candidate Elizabeth Warren joined the General Motors strike in Detroit on Sunday, calling for GM to be held “accountable.” For the last seven days, nearly 50,000 members of the United Automobile Workers Union have gathered at picket lines across the country, in the largest strike in the U.S. in over a decade. Phoebe Wall Howard of the Detroit Free Press joins Megan Thompson for more.
SUMMARY: May's jobs report showed more signs of slowing economic growth in the U.S. The Labor Department reported a net gain of 75,000 jobs -- just a third of the total for the previous month. That change is set against a backdrop of trade wars and other signals, like manufacturing data and anxiety in the financial markets. Judy Woodruff gets analysis from David Wessel of the Brookings Institution.
SUMMARY: Workers, jobs and wages are central to the ongoing trade war between the U.S. and China, in which the two countries have exchanged tariffs and threats recently. Though many Americans fear that they will be the ones to pay the price for the friction, Judy Woodruff talks to James Hoffa Jr. president of the International Brotherhood of Teamsters, about why he thinks the tariffs are a “good idea.”
SUMMARY: The U.S. economy added 304,000 jobs in January, according to new economic survey data. Although the government shutdown pushed the unemployment rate higher, the payroll report shows that hiring was much stronger than expected. John Yang talks to Neil Irwin of The New York Times and Danielle Paquette of The Washington Post, about what the numbers mean and why manufacturing jobs are so important.
SUMMARY: More than 300,000 jobs were created in December, doubling what was expected and signaling that the U.S. economy remains stable despite the recent market volatility and political tensions. In addition, wage growth was the highest it’s been in a decade. Amna Nawaz speaks with Mark Zandi, chief economist at Moody’s Analytics, for more on why this report contained “nothing but good news.”
SUMMARY: As automation spreads through the American economy, experts say its impacts will be uneven. Key factors in determining that effect include geography and race, but likely even more important is education. With the rapid pace of technological evolution, will job training be able to keep pace? John Yang reports from the Inland Empire of California as part of our new series, The Future of Work.
SUMMARY: Pikeville is a small city of 6,700 nestled in the mountains of eastern Kentucky--a rural area that has struggled to survive the decline of the coal industry. Now, local residents are pinning their futures on health care, which is desperately needed for a population whose life expectancy lags years behind the national average. Amna Nawaz reports for our new series, The Future of Work.
SUMMARY: General Motors has announced it is cutting its workforce by 14,000 employees, closing several plants in North America and eliminating at least five passenger car models. The corporate overhaul, which represents the company's biggest shakeup since it faced bankruptcy a decade ago, will result in 25 percent fewer executives. David Shepardson of Reuters News discusses the details with Judy Woodruff.
SUMMARY: For over a year, cities across North America have competed to lure Amazon's next headquarters, which the company said would bring up to 50,000 jobs to the chosen site. But as Paul Solman explains, new reports indicate the company may choose two smaller locations instead of one. John Yang speaks to the University of Toronto's Richard Florida, who has been critical of the bid process, for analysis.
SUMMARY: Friday’s jobs report showed a quarter of a million jobs were added to the U.S. economy in October. The unemployment rate remained at its lowest rate in decades. And wages, up 3 percent year over year, grew the most they have since 2009. Despite all the positive metrics, concerns still linger over tariffs and a volatile stock market. Amna Nawaz discusses with Heather Long of the Washington Post.
SUMMARY: Syndicated columnist Mark Shields and New York Times columnist David Brooks join Judy Woodruff to discuss the week’s news, including a blockbuster new report on U.S. economic growth, the fallout from President Trump’s trade wars, plus the latest developments in the Russia investigation, including whether the President knew about a 2016 Trump Tower meeting ahead of time.
Judy Woodruff (NewsHour): So, from the Russia investigation to the economy, and other things, it’s been a busy week for this President.
We turn now to the analysis of Shields and Brooks. That is syndicated columnist Mark Shields and New York Times columnist David Brooks.
It is so good to see both of you together.
Mark Shields, syndicated columnist: Thank you.
Judy Woodruff: Sometimes, in the summer…
Mark Shields: I have been here, Judy.
(LAUGHTER)
Mark Shields: I haven’t been missing.
Judy Woodruff: So, let’s start — David, we’re going to start with you, because you have been away — with the economy, our lead story tonight.
Blockbuster numbers for the past second quarter of the year, growth off the charts. The President said today several times that he deserves the credit for this, his policies have led to a turnaround in the American economy.
Does he deserve the credit? What’s the significance for him?
David Brooks, New York Times: Totally. We would be back in medieval economy if not for Donald Trump. [sarcasm]
No, it’s just a truism that Presidents get the blame when it’s going down and they get the credit when it’s going up. But their effect on the economy is generally over the long term. It’s not a short-term thing and not a quarter-by-quarter thing.
I think, if you look at the economic data, there is a lot of consumer spending. And that probably, as David Wessel said earlier in the program, because of the tax cuts.
I think the business investment is not as high as you would think it would be. The whole idea of corporate rate cuts is, you’re handing a lot of money back to corporations, and they’re going to blow out the ceiling.
And it’s fine, but it’s not what you would expect. And, earlier, I thought the tax cut really was having an effect in inducing corporations to invest. That seems not to be the case. It’s not bad, but it’s not fantastic.
And so I would say the tax cut gets some credit, but not a lot.
Judy Woodruff: Mark, how do you look at these numbers and the President’s role in all this?
Mark Shields: I look at it, Judy, that Donald Trump is capable of convincing people of just about anything.
I mean, recall, if you will, November 2016, when he got elected, he convinced enough voters that the country was at the brink of desolation and destruction. We, at that point, had — were in a point of 89 consecutive months of economic growth, of 80 months (an historic high in the country) of job growth, consecutively.
Judy Woodruff: When he was elected.
Mark Shields: When he was elected in November 2016.
He somehow was able, at a time when longevity was an all-time high, graduation rates were at an all-time high, pollution, other than greenhouse gases, were at an all-time low — I mean, it was — it was really a good era. And yet he was able to say, this is the worst time in America, it’s the darkest moment.
Now, David’s right. He does — the President does either get credit or blame. And I would just point out to him, as a cautionary note, the last time the economy grew at a faster rate was third quarter of 2014, when it grew — Barack Obama was President. It grew at 5.2 percent, David Wessel mentioned.
And that election of 2014, the Democrats’ numbers in the House of Representatives lost to the point where they had their lowest number since 1928, they held fewer state legislatures than they had at any time prior to the Civil War.
And so, when the economy is bad, the economy is the only issue. When the economy is good, the elections are oftentimes about other issues.
SUMMARY: May marked a record 92nd straight month [8 yrs] of job growth in the U.S., featured better than expected wage growth, and unemployment fell to the lowest rate in 18 years. While America's economic engine appears to be firing on all cylinders, trade tensions and uncertainty are rising. Judy Woodruff talks with Neil Irwin of The New York Times, and Diane Swonk chief economist of Grant Thornton.
