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Tag: social services

  • Jobless claims dip to 3-week low of 191,000 — labor market still very strong

    Jobless claims dip to 3-week low of 191,000 — labor market still very strong

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    The numbers: The number of Americans who applied for unemployment benefits last week slipped to a three-week low of 191,000, signaling little erosion in a strong U.S. labor market even as the economy faced fresh strains.

    New U.S. applications for benefits fell by 1,000 from 192,000 in the prior week, the government said Thursday. .

    The number of people applying for jobless benefits is one of the best barometers of whether the economy is getting better or worse. New unemployment applications remain near historically low levels.

    Economists polled by The Wall Street Journal had forecast new claims to total 198,000 in the seven days ended March 18. The numbers are seasonally adjusted.

    Key details: Twenty-eight of the 53 U.S. states and territories that report jobless claims showed a decrease last week. Twenty-five posted an increase.

    Most of the changes were small except in Indiana.

    One potential red flag: The number of raw or actual claims — before seasonal adjustments — was much higher last week compared to the same week a year earlier. But so far there’s little sign of a trend.

    “Even the tens of thousands of recent [high-tech] layoffs have almost completely been absorbed by a powerful labor market that has plenty of expansion left in it,” contended Robert Frick, chief corporate economist at Navy Federal Credit Union.

    The number of people collecting unemployment benefits across the country, meanwhile, rose by 14,000 to 1.69 million in the week ended March 11. That number is reported with a one-week lag.

    These continuing claims are still low, but a gradual increase since last year suggests it’s taking longer for people who lose their jobs to find new ones.

    Big picture: Jobless benefit claims are one of the first indicators to emit danger signals when the U.S. is headed toward recession. It’s still not flashing a red-light, or even a yellow one, as the economy comes under more duress.

    The Federal Reserve, for instance, just raised interest rates to a nearly 16-year high. And the failure of Silicon Valley Bank has put more stress on the U.S. financial system.

    Both of these actions could constrain the economy in the months ahead, curb hiring and potentially boost a low unemployment rate. If so, watch the trend in new jobless claims.

    Looking ahead: “Most companies are either still hiring or are holding onto their employees and seeking other ways to cut costs,” said chief economist Joshua Shapiro of MFR Inc.

    “This is consistent with our view that layoffs will rise less dramatically than normally might occur as companies do all they can to avoid shedding workers who have been incredibly difficult to recruit and retain.”

    Market reaction: The Dow Jones Industrial Average
    DJIA,
    +0.23%
    and S&P 500
    SPX,
    +0.30%
    were set to open higher in Thursday trades. Stocks have been under pressure since the failure of SVB earlier this month.

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  • The government may stop issuing Social Security payments after the debt limit is hit — here’s why

    The government may stop issuing Social Security payments after the debt limit is hit — here’s why

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    There’s a very real possibility the government will stop issuing Social Security payments after the debt limit is hit.

    Scary as that prospect is, however, the alternative might be even worse: A little-known provision of a 1996 law could be interpreted to allow the Social Security trust fund to be used not only to pay Social Security’s monthly checks but also to circumvent the debt limit and pay all the government’s otherwise overdue bills.

    If that happens, any short-term relief to Social Security recipients would come with a potentially huge long-term price tag: The Social Security trust fund could be exhausted much sooner than currently projected—in just a couple of years, in fact.

    Read: I’ll be 60, have $95,000 in cash and no debts — I think I can retire, but financial seminars ‘say otherwise’

    These dire possibilities emerge from an analysis conducted by Steve Robinson, the chief economist for The Concord Coalition, a group that describes itself as “a nonpartisan organization dedicated to educating the public and finding common sense solutions to our nation’s fiscal policy challenges.”

    An issue brief he wrote, entitled “Social Security’s Debt Limit Escape Clause,” is available on the group’s website.

    Let me hasten to add that Robinson is not advocating that the Social Security trust fund be used in this way. In an interview, he instead stressed that he wrote his issue brief because we need to be aware not only that this “escape clause” exists but that its use could have unintended consequences. Though hardly anyone outside Washington knows that it even exists, and relatively few on Capitol Hill, the Treasury Department and the Social Security Administration are very much aware of it.

    Read: ChatGPT is about to make the business of retirement planning and financial advice profoundly human

    Before reviewing the details of this escape clause, it’s worth focusing on the political dynamics that surround it. Because the escape clause lessens the pressure on Congress and the president to come up with a solution to the debt crisis, neither side has an incentive to publicize its existence. But if the government is otherwise pushed to the edge of the fiscal cliff, and it’s facing the potentially huge consequences of an outright default (including the nonpayment of monthly Social Security checks), the political pressure to use the escape clause could be intense.

    The 1996 law that creates the escape clause was passed in the wake of the government hitting its debt limit in 1995 and 1996. Ironically, the intent of that law was to prevent the Social Security trust fund from being used for anything other than paying Social Security benefits. But, Robinson explains, that’s unworkable in the real world. That’s because Social Security checks are sent out by the Treasury’s general account, and if that account is in default the checks would bounce.

    Read: These 3 things will bring you happiness in retirement — and life

    If and when the debt limit is hit, therefore, the only way—in practice—for Social Security checks to continue being issued and cleared through the banking system would be for the Social Security trust fund to “lend” the Treasury sufficient funds that it could pay all the government’s unmet obligations. (I put “lend” in quotes because that’s not exactly how it works; the key is that the “loan” can be structured in ways that don’t count against the debt limit. If you’re interested in reading more about the complex logistics involved, you should read Robinson’s issue brief.)

    Therefore, if the debt limit is hit, which it is projected to do perhaps as early as June, Congress and the president will be on the horns of a huge dilemma:

    • Do they allow Social Security checks to continue getting paid, risking the political fallout of being accused of “raiding” the Social Security trust fund?

    • Or do they stop issuing Social Security payments, risking the political fallout of not issuing Social Security payments, on whom the very livelihoods of many elderly currently depend?

    You can appreciate why Congress and the president don’t want us to know that this escape clause exists. Once we are aware of it, they are put in a no-win situation.

    So fasten your seat belts for a wild ride in coming months as both parties play political brinkmanship over the debt limit and, by extension, Social Security. With both sides by the day hardening their stances, there’s a very real possibility that the debt limit will be hit.

    If that happens, we’ll be hearing a lot more about the little-known provision of a nearly 30-year-old law.

    Mark Hulbert is a regular contributor to MarketWatch. His Hulbert Ratings tracks investment newsletters that pay a flat fee to be audited. He can be reached at mark@hulbertratings.com.

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  • Three charged with child abuse after a young child was found locked in a dog kennel

    Three charged with child abuse after a young child was found locked in a dog kennel

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    Three adults have been arrested after a young child was found locked in a dog kennel Wednesday morning, deputies said. The Davidson County Sheriff’s Office received an anonymous tip about a young child being locked in a cage overnight.Deputies then responded to the address on Cress Road and found a 9-year-old child locked in a dog kennel.The kennel was secured with a padlock.Deputies forced the cage open and EMS arrived on the scene to administer aid.Inside the residence, deputies found Sarah Starr, 30, and two other children.These children were also examined by EMS, but had no obvious injuries.Detectives contacted Davidson County Social Services and secured a search warrant for the property.Following an investigation, Jonathan Starr, 32, and Sarah Starr were arrested and charged with felony child abuse, misdemeanor child abuse and false imprisonment. They were both placed under a $30,000 bond.Later, Shelly Barnes, 56, was arrested in this incident and charged with the following:Felony child abuseMisdemeanor child abuseFalse ImprisonmentPossession of a firearm by a felonMaintaining a dwelling place for controlled substancesBarnes was issued a $60,000 bond.The 9-year-old child was transported to Brenner Children’s Hospital for evaluation and released later that day.Two more children, who lived at the residence, were located at school.All five of the children were entered into protective custody of Davidson County Social Services.Deputies said that this is an active and ongoing investigation.This is a developing story, check back with WXII for more updates.

    LEXINGTON, N.C. —

    Three adults have been arrested after a young child was found locked in a dog kennel Wednesday morning, deputies said.

    The Davidson County Sheriff’s Office received an anonymous tip about a young child being locked in a cage overnight.

    Deputies then responded to the address on Cress Road and found a 9-year-old child locked in a dog kennel.

    The kennel was secured with a padlock.

    Deputies forced the cage open and EMS arrived on the scene to administer aid.

    Inside the residence, deputies found Sarah Starr, 30, and two other children.

    These children were also examined by EMS, but had no obvious injuries.

    Detectives contacted Davidson County Social Services and secured a search warrant for the property.

    Following an investigation, Jonathan Starr, 32, and Sarah Starr were arrested and charged with felony child abuse, misdemeanor child abuse and false imprisonment.

    They were both placed under a $30,000 bond.

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    Later, Shelly Barnes, 56, was arrested in this incident and charged with the following:

    • Felony child abuse
    • Misdemeanor child abuse
    • False Imprisonment
    • Possession of a firearm by a felon
    • Maintaining a dwelling place for controlled substances

    Barnes was issued a $60,000 bond.

    The 9-year-old child was transported to Brenner Children’s Hospital for evaluation and released later that day.

    Two more children, who lived at the residence, were located at school.

    All five of the children were entered into protective custody of Davidson County Social Services.

    Deputies said that this is an active and ongoing investigation.

    This is a developing story, check back with WXII for more updates.

    This content is imported from Facebook.
    You may be able to find the same content in another format, or you may be able to find more information, at their web site.


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  • Some good news: One key driver of inflation is finally showing signs of easing

    Some good news: One key driver of inflation is finally showing signs of easing

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    Rent growth is beginning to cool. But it’s descending from a heck of a peak.

    Rental prices climbed 7.2% between September 2021 to September of this year, the largest annual increase since 1982, according to consumer price data released Thursday. Overall, shelter costs were also among the most significant drivers in rising consumer prices, along with the cost of food and medical care, the Labor Department said.

    Still, it’s not all bad news for tenants. A new report from Realtor.com out Thursday found that nationwide, median rental prices in 50 large metros grew at their slowest annual pace in 16 months in September — at 7.8%. That marked the second consecutive month of single-digit year-over-year growth for 0-2 bedroom properties, and it meant that median asking rents fell by $12 in a month, Realtor.com said. 

    Housing inflation in the Consumer Price Index lags trends in the rental market, though, meaning the slowdown in rent growth might not register in the data for a while. 

    While median rental prices are still nearly 23% higher than they were two years ago, they’re no longer climbing at breakneck speeds with no end in sight. These days, economists say, that counts as a silver lining. 

    “After more than a year of double-digit yearly rent gains and nearly as many months of record-high rents, it’s especially important to see consistency before we confirm a major shift like the recent rental market cool-down,” Realtor.com Chief Economist Danielle Hale said in a statement. “But September data provides that evidence, as national rents continued to pull back from their latest all-time high registered just two months ago.”

    “This return of more seasonal norms indicates that rental markets are charting a path back toward a more typical balance between supply and demand, compared to the previous year,” Hale added. “We expect rent growth to keep slowing in the months ahead, partly driven by the impact of inflation on renters’ budgets.” 

    Affordability, however, is worsening, Realtor.com said. Blame the fact that consumer prices are rising faster than wages. 

    (Realtor.com is operated by News Corp
    NWSA,
    +1.64%
    subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which is also a subsidiary of News Corp.)

    A Redfin
    RDFN,
    -3.55%
    report out Thursday, meanwhile, said rents grew 9% year-over-year in September — the slowest pace since August 2021. Rents were still way up year-over-year in cities like Oklahoma City (24.1%), Pittsburgh (20%), and Indianapolis (17.9%.) 

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  • Linking Systems of Care for Children and Youth Project Premieres New Website

    Linking Systems of Care for Children and Youth Project Premieres New Website

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    Press Release
    –


    updated: Feb 15, 2019


    RENO, Nev., February 15, 2019 (Newswire.com)
    –
     The National Council of Juvenile and Family Court Judges (NCJFCJ) announced today that it has launched a website for their project Linking Systems of Care for Children and Youth to promote healing for victims of crime.

    The Linking Systems of Care for Children and Youth Project, funded by the Office for Victims of Crime (OVC), Office of Justice Programs and U.S. Department of Justice, is designed to support and document the work of statewide initiatives for victims of crime. These programs promote healing through the coordination of trauma-informed prevention and intervention services for children and/or youth and their families.

    Currently, youth and families may seek support from child welfare, courts, education, social services, juvenile justice, victim services and health services systems. At times, youth and families enter through several doors before finding and receiving adequate and appropriate services that meet their needs as victims. The key benefit of the Linking Systems of Care project is to formally integrate these systems by equipping all systems of care with the tools to respond effectively to victims of crime. This approach ensures young victims and families are set on a path toward healing.

    “Healing happens when systems of care offer coordinated treatment and create the opportunity to make positive social-emotional connections and provide for self-determination,” said Judge Ramona Gonzalez, chair of the Linking Systems of Care Steering Committee and NCJFCJ president-elect. “This is what Linking Systems of Care is – the chance to build capacity within communities. Building this capacity is my responsibility and commitment to my community.”

    The Linking Systems of Care project website provides a wealth of information on child and youth victims of violence. It contains:

    • resources that can be used when writing or speaking about child maltreatment and victimization;
    • videos and online trainings;
    • profiles of the four demonstration sites in four states; and
    • a toolkit to help guide efforts for coordinators to help replicate the process from the demonstration sites in their community. From project planning, community engagement, victim identification and referral, and legal considerations, the toolkit provides a step-by-step guide to linking systems of care.

    Montana, Virginia, Illinois and Ohio were chosen as demonstration states for the strength of their applications in a competitive federal award process. These sites highlighted statewide collaborations, diversity of their youth populations and stakeholders, and long-term commitment to modeling change.

    In each of the states, a lead grantee organization is building a Linking Systems of Care network of stakeholders and partners; assessing underserved populations and service gaps; developing concrete strategies, techniques and tools for meeting victim needs; and linking child and youth victims to an expanded array of support services. Subject to adequate participation and performance, each demonstration project has the possibility of up to six years of ongoing project support through OVC.

    “Putting the needs of child and youth victims and their families is the core principle of this project,” said Judge John J. Romero Jr., NCJFCJ president. “It’s important for this vulnerable population to have access to prevention and intervention services without obstacles or challenges in order to begin the process of healing as soon as possible.”

    About the National Council of Juvenile and Family Court Judges (NCJFCJ):
    Founded in 1937, the Reno, Nevada-based National Council of Juvenile and Family Court Judges is the nation’s oldest judicial membership organization and is focused on improving the effectiveness of our nation’s juvenile and family courts. A leader in continuing education opportunities, research and policy development in the field of juvenile and family justice, the 2,000-member organization is unique in providing practice-based resources to jurisdictions and communities nationwide.

    PR Contact:
    Chrisie Yabu, APR
    KPS3
    chrisie@kps3.com

    Source: NCJFCJ

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