![]() Even with a modest 5-cent gain in the average hourly salary, the average weekly paycheck fell by $2 to $611.39. In another discouraging sign, the average hourly work week fell last month to 33.3 hours - the lowest level in history - from 33.5 hours. ![]() "They count as employed someone who used to have a high-paid manufacturing job, and now is working at a Wal-Mart or a Wendy's." "The existing unemployment figures are greatly understated," said billionaire steel tycoon Wilbur Ross in a recent interview with. Calculations for that measure began in January 1994. The so-called under-employment rate, which counts those part-time workers as well as those without jobs who have become discouraged and stopped looking for work, rose to a record 13.5% from 12.6%. Those working part-time jobs - because they couldn't find full-time work, or their hours had been cut - jumped by 715,000 people to 8 million, the highest since such records were first kept in 1955. "It's just an enormous acceleration of job losses."īy comparison, the 2.6 million jobs lost in 2008 nationwide were equal to the number of jobs found in states such as Wisconsin, Missouri or Maryland.Ī growing number of workers seeking full-time jobs were able to find only part-time work. "We have a bigger economy now, but even on a proportional basis, the last months have been the worst since ," said Kurt Karl, head of economic research at Swiss Re. November, in which 584,000 jobs were lost, and December marked the first time in the 70-year history of the report in which the economy lost more than 500,000 jobs in consecutive months. The total number of unemployed Americans rose by 632,000 to 11.1 million. "We're seeing a complete unraveling of the labor market and are on track for getting beyond 10% unemployment," said Lawrence Mishel, president of the Economic Policy Institute. The steep annual drop in jobs marked the highest yearly job-loss total since 1945, the year in which World War II ended. The unemployment rate rose to 7.2% last month from 6.7% in November - its highest rate since January 1993. Labor Department jobs report Friday showed the economy lost 524,000 jobs in December and 1.9 million in the year's final four months, after the credit crisis began in September. And it would be a disservice to the consumers of news - be they readers, listeners or viewers - for me to become emotional and to get carried away.NEW YORK () - The hemorrhaging of American jobs accelerated at a record pace at the end of 2008, bringing the year's total job losses to 2.6 million or the highest level in more than six decades.Ī sobering U.S. The more I ratchet down my emotions, even the tone of voice because people are depending on you for accuracy, dispassionate descriptions of what’s happening. “The more intense the news story I cover, the cooler I want to be. And I personally feel that I passed my stringent test for that in Baghdad,” Shaw told NPR in 2014. “In all the years of preparing to being anchor, one of the things I strove for was to be able to control my emotions in the midst of hell breaking out. Working with colleagues Peter Arnett and John Holliman, Shaw gave dispatches from the Al-Rashid Hotel in Baghdad, taking shelter where he could as cruise missiles were heard flying around him. ![]() Shaw’s tenure at CNN was also remembered for his on-the-ground reporting during the Gulf War in 1991. The president did not appear to be hurt, according to United Press International.” Shaw would later be joined on air by former CBS News journlaist Daniel Schorr, and his work helped cement the impression that the nascent news outlet meant to be a bigger part of the business, despite its start-up status. “We can report that shots were fired as President Reagan left the Washington Hilton hotel following that address we carried live here on CNN. We don’t know the sequence,” Shaw said, according to Napoli’s account. CNN’s broadcast of the news was ahead of the mainstream networks by about four minutes, according to an account of the report by journalist Lisa Napoli in her book “Up All Night: Ted Turner, CNN and the Birth of 24-Hour News.” Information was so vague and the details so disquieting that Shaw neglected to clip on his microphone before addressing viewers of CNN. But his time at CNN helped launch a new era in the business, one in which a cable upstart could have as much meaning to news aficionados as established newspapers and broadcasters.Īt CNN, Shaw was co-anchor of “PrimeNews,” the network’s evening broadcast, and among the first big events he helped present was the 1981 assassination attempt on President Ronald Reagan. ![]() He worked for CBS News as a Washington correspondent between 19 and covered both Latin America and Capitol Hill for ABC News in the latter part of that decade. Shaw already had enjoyed a distinguished career before he arrived at CNN. ![]()
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