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With his pen he will sign executive orders, including one that requires all workers on new federal government contracts to be paid at least $10.10 per hour — a nearly 40 percent increase above the current federal minimum wage, and a bad idea.
For October's report, we also spoke with the American Enterprise Institute's Michael Strain. As Congress debates the extension of unemployment benefits, Strain has been one of the conservatives voices urging them to renew benefits.
We shouldn’t let emergency federal benefits expire because the same fundamental logic that led to their being (correctly) enacted still holds today: The labor market is still in bad shape, the economy is still weak, there are three times as many unemployed workers as job openings.
Currently we're at about 4 million people who are long-term unemployed. That's about 1 million more than the high in the previous recession, back in the 1980s. And we were up to 6.5 million during the Great Recession at its peak.
The October jobs report showed a surprise spike in hiring with employers adding 204,000 jobs last month. Despite the good news, the unemployment rate rose to 7.3 percent. How is this possible? Paul Solman explains how the 16-day shutdown may have warped the numbers and what the data means for the overall economic recovery.
Join us for a lively debate about who is hurting the conservative cause and who is helping it.