economy

Jobs Recovery
10:53 am
Fri September 20, 2013

Washington's Job Recovery In Numbers

KUOW Photo/Jake Warga

This week, KUOW has been taking a deeper look at the jobs recovery in Washington state in our series, The Big Reset. In this segment, we're talking numbers: unemployment, wages, industry trends. And the good news is, Washington is doing all right.

The unemployment rate here has mirrored the national average at around 7 percent. Ross Reynolds talks with regional labor economist, Anneliese Vance-Sherman about Washington's recovery and industry trends.

Read more
Recession Recovery
2:04 pm
Thu September 19, 2013

"Statistically Insignificant" Wage And Poverty Numbers Tell A Larger Story

A view of Smith Tower from Yesler Terrace, circa 1960.
Flickr Photo/Seattle Municipal Archives

The US Census Bureau released numbers this week looking at poverty rates and wages across the US in 2012. Our local numbers reflect what’s happening around the country: the number of people living in poverty has stagnated and wages have stayed about the same.

At first glance, this may seem like good news, or even non-news. But the census numbers reveal a larger picture of what’s happening in the wake of the recession: that people in low and middle income brackets aren’t really experiencing a recovery.

Jennifer Romich is the director of the West Coast Poverty Center and an associate professor at the UW School of Social Work. She told KUOW's Marcie Sillman the "statistically insignificant" numbers from the Census Bureau paint a concerning picture of many people that are unable to get ahead financially.

Read more
Recession Recovery
1:00 am
Thu September 19, 2013

Rents Rising In Seattle And Portland As Wages Stay Flat

Flickr Photo/Daniel Spils

If you’re on the hunt for an affordable apartment in Seattle, Bellevue or Tacoma – good luck. Rents in these urban areas continue to climb higher while people’s earnings remain stagnant, according to a new annual census report released Thursday.

Read more
Welder Demand
1:00 am
Thu September 19, 2013

Passing The Torch To A New Generation Of Welders

Welding student Mike Mullins.
KUOW Photo/Jake Warga

Welding torches have sizzled at the Vigor Industrial shipyard on Seattle’s Harbor Island for a century. But the men and women behind the welding masks in this particular warehouse have only been at it for two weeks. The demand for skilled welders is so high that the shipyard and the state are now paying to teach the skill to displaced workers.

Read more
State Revenue
3:40 pm
Wed September 18, 2013

Washington Revenues Show Slow And Steady Recovery

Originally published on Wed September 18, 2013 3:40 pm

Slow and steady. That’s how Washington’s chief economic forecaster sums up the recovery in state revenues.

Read more
From Mechanic To Nurse
8:20 am
Tue September 17, 2013

Health Care Sector Jobs Slowly Rebounding From Recession

Ross McGilvray works as a registered nurse in the Medical Telemetry unit at Virginia Mason Hospital in Seattle, Wash.
karenducey.com/Karen Ducey

Nursing schools around the country have seen a jump in enrollment in the last few years. Many students were hoping to get in on what was supposed to be a recession-proof field: the growing health care sector. Instead, new graduates faced a tough market.

Read more
Federal Reserve Chief
2:09 pm
Mon September 16, 2013

Why Is Larry Summers Out As Next Fed Head?

Larry Summers, former candidate for head of the Federal Reserve.
Flickr Photo/Chatham House, London

Larry Summers has pulled out of the running to be the next head of the Federal Reserve.  The former treasury secretary and Harvard president was said to be the leading candidate for the position to replace Ben Bernanke. So why did Summers withdraw?  Joining Ross Reynolds with the latest on what’s going on in the other Washington – and what’s at stake for the country – is Annie Lowrey.  She's covering the story of the next Federal Reserve chief for the New York Times.

Read more
Relationships And Economics
11:16 am
Mon September 16, 2013

When Money And Love Collide

Flickr Photo/Jenifer Correa

Marcie Sillman speaks with Gail Wyatt, couples counselor and director of UC Los Angeles' Sexual Health Program.

Marcie Sillman speaks with Shelly Lundberg, UC Santa Barbara economics professor.

It's no surprise that money stress doesn't bode well for romance. For many couples, decisions like marriage, divorce or children hinge on the question: Can we afford it? Marcie Sillman talks with UC Santa Barbara economics professor Shelly Lundberg and couples counselor and director of UC Los Angeles' Sexual Health Program Gail Wyatt about how money impacts our love lives.

Read more
Child Care As Economic Indicator
5:27 am
Mon September 16, 2013

Job Recovery From Small Town To Big City

Lyman day care provider Amber Rooks.
KUOW Photo/Liz Jones

The economic downturn attributed to the Great Recession tested the resilience of many workers and careers.

King County’s unemployment rate is more than 2 percent lower than the national rate. In fact, the Seattle area is seen as a bright spot in the recovery. But the farther you get from the big city, the more likely a  different picture emerges. In some rural areas, incomes and job security are lower, and this has made for a tougher recovery.

Read more
Recruitment & Funding Plans
3:58 pm
Thu September 12, 2013

State Leaders Say More UW Funding Key To Economic Growth

Suzzalo Library in the heart of the UW's Seattle campus.
Flickr Photo/Herr Hans Gruber

A group of business and civic leaders including Bill Gates Sr. have issued a report calling for the University of Washington to admit more in-state students. They also say the UW needs to recruit more leading academics.

Read more
Inequality
11:48 am
Thu September 12, 2013

The Rising Income Gap: Is It All That Bad?

The rich are indeed getting richer. An updated study from UC-Berkeley finds that the income gap between the country's top 1 percent and the bottom 99 percent is the highest level recorded since the government started collecting that data nearly 100 years ago.

 

Some argue that more wealth in the world means a bigger slice of the economic pie for everyone. Others say the growing income gap means even less economic gains for the poor. Ross Reynolds talks with two economists, Dean Baker, founder of the Center for Economic and Policy Research, and Ben Powell, director of the Free Market Institute at Texas Tech University for two perspectives. 

Read more
Railroad History
9:28 am
Mon September 9, 2013

Former Northwest Railroad Town Struggles To Keep Last 25 People

Jessica Robinson Northwest News Network

Originally published on Fri September 6, 2013 6:05 pm

Take a drive down any highway in the Northwest, and you'll pass signs for dozens of small towns. There are more than 700 cities under 10,000 people in Washington, Oregon and Idaho. Many of these towns came about because of railroads or timber or mines and now they’re trying to figure out what comes next.

It's nearly 2:15 in Avery, Idaho. The mail has arrived. And the post office is about to become the busiest place in town.

Read more
Syria And Economics
11:23 am
Thu September 5, 2013

Economics Of War: How Much Could Military Intervention In Syria Cost?

Flickr Photo/Andy Withers

Wednesday the Senate Foreign Relations Committee voted 10-7 to approve a resolution authorizing US military action against the government of Syrian President Bashar al-Assad. Congress returns to the Capitol next week where they will debate at length the possibility of military intervention.

One question we haven't heard much about yet is how much money an intervention might cost. Marcie Sillman talks with economist Dean Baker, founder of The Center For Economic and Policy Research, about the costs of war.

Read more
Economic Recovery
12:32 am
Thu August 29, 2013

For Restaurant Workers, A Struggle To Put Food On The Table

Losia Nyankale helps daughter Jonessa and son Juliean learn the alphabet. Nyankale, who works in a restaurant in Washington, D.C., says she needs food stamps and child-care subsidies to make ends meet.
Jennifer Ludden NPR

Originally published on Thu August 29, 2013 8:27 am

Losia Nyankale, 29, didn't mean to make a career in the restaurant business. But after Nyankale was in college for two years, her mom lost her job as a schoolteacher and could no longer pay tuition. Then, Nyankale's temp jobs in bookkeeping dried up in the recession. So she went back to her standby — restaurant work.

"I did some kitchen work. The pantries or the salad station," she says. "I've also managed, supervised, wash[ed] dishes."

Read more
Determining Poverty Line
9:16 pm
Mon August 26, 2013

A College Kid, A Single Mom, And The Problem With The Poverty Line

Marion Matthew is a home health aide supporting herself and her 17-year-old son.
Pam Fessler NPR

Originally published on Tue August 27, 2013 2:02 am

The College Kid

Rico Saccoccio is a junior at Fordham University in the Bronx. He's from a middle-class family in Connecticut and he spent the summer living at home with his parents, who cover about $15,000 a year in his college costs.

According to the U.S. government, Saccoccio is living in poverty. The $8,000 he earns doing odd jobs puts him well below the $11,945 poverty threshold for an individual. In fact, the U.S. Census Bureau recently reported that more than half of all college students who are living off campus and not at home are poor.

Read more

Pages