Just 35 Percent Of Americans Cash In On Jobless Benefits

Source: http://www.businessinsider.com/jobless-unemployment-st-louis-fed-claims-rarer-than-overpayments-2012-10


Among consumers eligible for unemployment benefits, just over one-third actually bother to cash in on average, according to new data from the  Federal Reserve Bank of St. Louis

The data applies to the last 22 years (1989 to 2011), save for during the recession, when elligible claims rose to 50 percent.

The findings are key for a couple of reasons.

Back in July, CNN Money cited data that showed that the Dept. of Labor had overpaid jobless claims by no less than $14 billion in 2011. In 2009, it was estimated that 11 percent of all claims were overpaid, for a total of about $11 billion. 

But since so many elligible workers are actually leaving their cash on the table, the agency should be more than capable of making up for lost funds.

For example, the 50 percent of workers who didn’t apply for benefits in 2009 saved the government an estimated $108 billion.

That’s more than 10 times as much cash the Dept. of Labor said was wasted on overpaying benefits the same year

There’s no denying overpaying jobless benefits is a problem –– most of them wind up in the hands of prisoners, identity thieves, retirees, and current workers –– but the report at least helps put that shortcoming into perspective.

Fraud is responsible for just 3 percent of all benefits paid, the Fed found, while eligible consumers leave seven times that much cash on the table by not applying for benefits.

And overpayments are beginning to slowly improve. The Department of Labor reported a 0.35 percent drop in overpayme! nts betw een July 2010 and 2011, and a 0.4 percent drop in errors caused by people who didn’t register their employment status with their state’s labor department.

The BLS put together a map of each state’s improper payment history in 2011, when overpayments topped $14 billion:


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Monday, October 29th, 2012 news No Comments

Source: http://www.businessinsider.com/americas-scary-shift-to-obesity-over-2-decades-maps-2012-10

It’s no secret that America is getting fatter.

But these two maps from Bank of America strategist Sarbjit Nahal’s report Globesity – The Global Fight Against Obesity show how fast the nation is shifting towards obesity.

The map on the left shows that in 1990, 10 states in the CDC’s Behavioral Risk Factor Surveillance System had an obesity prevalence of less than 10 percent, and no state had a prevalence more than 15 percent.

Fast-forward two decades to 2010, and no state has a prevalence of obesity less than 20 percent, and 12 states have an obesity prevalence of 30 percent or more.

Nahal notes:

The highest prevalence of obesity in the US is in the south. Mississippi, the most obese state (34%) for the sixth consecutive year, is also one of the poorest and suffers from low insurance coverage, a weak education system and high unemployment.

obesity maps

SEE ALSO: Here’s Where You’ll Find The Fattest People In The World

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Friday, October 19th, 2012 Uncategorized No Comments

The World’s Biggest Consumer Goods Company Shows That Growth In Developed Markets Is Tanking (PG)

Source: http://www.businessinsider.com/chart-of-the-day-developed-market-growth-for-proctor-and-gamble-2012-6

Proctor and Gamble unexpectedly cut guidance this morning, sending shares down in pre-market trade.

In a statement, Procter said “the revisions to the Company’s fourth quarter outlook are primarily driven by slower than anticipated top-line growth from slower than expected market growth rates and market share softness in developed regions and negative impacts from foreign exchange rate changes.”

Translation: high unemployment coupled with slow-to-no GDP growth in developed markets are destroying the top line.

At a Deutsche Bank panel today, Procter plans to show this slide that sums it up pretty nicely.

Procter & Gamble Guidance

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Wednesday, June 20th, 2012 news No Comments

What Most Economists Get Wrong About The Rise In Gas Prices

source: http://www.businessinsider.com/what-most-economists-get-wrong-about-the-rise-in-gas-prices-2012-3

Not only is the increase in credit, without a subsequent increase in consumption, a sign of strain on the American consumer; but they shifted from buying new goods to used goods in recent months in a big way.  An era of "frugality" has impacted the average American home and with high unemployment, underemployment and wage pressures weighing on the family budgets – cost increases hit home much faster than in past years.


Augustine Fou, PhD
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Tuesday, March 6th, 2012 news No Comments

When Obama Runs For Re-Election, This Is The Chart He Will Use

Source: http://www.businessinsider.com/chart-of-the-day-when-obama-runs-for-re-election-this-is-the-chart-he-will-use-2012-2

We’ve run a version of this chart a few times, but after today’s jobs number, it looks even more stark…

Obama’s monthly jobs record is WAY better than what it was in the months before he took office.

In every commercial, he can just contrast his tenure with the period before it, and remind people how much better things are now.

Also worth noting that the 8.3% unemployment rate is the lowest is since Obama’s first month in office.

UPDATE: Obama used the chart!

chart of the day, unemployment rate, job growth, feb 3 2012

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Friday, February 3rd, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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