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In a recent news article published by Business Week from the Bloomberg website on January 09, 2010, it talked primarily about the current unemployment rate and discouraged workers.  It was noted that the current unemployment rate was actually higher than the official published numbers. 

This article actually brought up a great point.  The point was about discouraged workers and how the number has been increasing to 929,000 last month.  This number is the highest since 1994.  So as I continued to read the article it discussed how many unemployed workers felt disillusioned with the possibility of finding employment.   This feeling is partially created by the length of time it is taking to find employment and the stress associated with on a monthly basis with employment. 

It was believed that things would change in 2010 due to the belief that the economy was changing and that it would become easier to find jobs.  While the economy is stabilizing, economist feel that the unemployment will continue at a rate of 10.5 over the next year which has kept the Federal Reserve at a stand still reflected in the near zero interest rates.

We suggest that you read the entire article on your own…

http://www.businessweek.com/news/2010-01-09/shrinking-u-s-labor-force-keeps-unemployment-rate-from-rising.html

U.S. Transportation Secretary Raymond LaHood announced Friday afternoon a $298.7 million transit capital grant to NJ Transit for 13 projects to improve aging infrastructure, ease traffic congestion and create jobs in the Garden State. The grant is part of the $423 million the public transit agency is receiving from the federal government under the American Recovery and Reinvestment Act, commonly called the federal stimulus, according to the Office of the Governor.
The stimulus funds “represent the largest transit grant issued to date by the Federal Transit Administration,” said Gov. Jon S. Corzine, in a statement. Based on estimates that 7.7 jobs are created for every $1 million invested, the nearly $300 million in funding will generate more than 2,000 jobs in New Jersey, according to the governor’s office.

The ARRA funds currently are being directed to the 13 projects, all of which are under way or scheduled to begin by the end of the year, the office said.

The projects with the largest funding amounts are the final design and construction of the trans-Hudson rail tunnel, which will be awarded $130 million; the rehabilitation of NJ Transit’s bus fleet, which will receive $35 million; and the second phase of the Lower Hack Bridge rehabilitation, which will be allocated $30 million. NJ Transit’s Morris & Essex and Montclair-Boonton Line trains travel over the three-track bridge to cross the Hackensack River between Kearny and Jersey City.

Other funded projects include the new Pennsauken Transit Center that will connect the River Line and Atlantic City line, a new Plauderville Station in Bergen County, and a new 500-space parking lot that will more than double the parking capacity at Edison Station.

E-mail Evelyn Lee @ elee@njbiz.com
By Evelyn Lee
8/14/2009