September, 2024 Unemployment: Key Findings White unemployment stands at 3.6% , relatively stable compared to earlier months. Black unemployment at 5.7% , a significant decrease from its peak of 6.4% in March 2024. Asian unemployment remains low at 4.1% , showing little fluctuation. Hispanic or Latino unemployment at 5.1% , consistent with previous months. Analysis: Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate fell from 4.2 to 4.1 percent. The higher unemployment rates among Black individuals continue to signify systemic employment challenges. Asian individuals have maintained a lower unemployment rate, while Hispanic or Latino populations also face notable but slightly elevated rates compared to Asians. While the decline in Black unemployment suggests some improvement, it remains significantly higher than other groups. Conclusion: The September, 2024 unemployment data highlights ongoing disparities in employment across racial and et
A Primer on Social Security and US Government Spending. Leon Ilgner, Friedrich-Alexander-Universität Nürnberg-Erlangen.
The US is currently facing the possibility of a government shutdown if Congress does not pass a funding bill or a stopgap measure before October 1. A short-term spending bill has been proposed to fund federal agencies for about three months, temporarily averting a shutdown. Government shutdowns occur when Congress fails to pass the 12 annual appropriation bills required to fund federal agencies. Under the Antideficiency Act, federal agencies cannot spend or obligate any money without an appropriation from Congress. When this happens, non-essential functions cease until Congress acts, leading to a government shutdown. Government shutdowns can be used as a political tool by parties to push their agendas. For example, a party may refuse to pass a funding bill unless certain policy demands are met. This tactic can create significant leverage, as the threat of a shutdown puts pressure on the opposing party to negotiate and potentially concede to some demands to keep the government running