Labor & Economic News Blog
Friday, November 28, 2008
Not a good time for a hiring freezeNot a good time for a hiring freeze
Companies that lay off rank and file employees are missing an opportunity for success. Commentator Amelia Tyagi suggests simultaneously replacing some executives to generate innovation and change.
West Coast ports face struggle to maintain relevanceWest Coast ports face struggle to maintain relevance
The global financial slowdown has already slashed traffic, and a major Panama Canal expansion will bring new competition. The slowdown in international trade has left the docks at the nation's biggest seaport complex quieter than they've been in years.
Job hopping deterred by fear of layoffsJob hopping deterred by fear of layoffs
U nder normal circumstances, switching jobs should not be a problem.
Cost of Living: The Challenge of Living Within One’s MeansCost of Living: The Challenge of Living Within One’s Means
The shift to real-income living demands not only new spending habits, but also a wholly different way of thinking about money.
Wal-Mart Employee Trampled to DeathWal-Mart Employee Trampled to Death
A crush of shoppers tore down the front doors and thronged into a store in suburban New York, killing a temporary employee.
German unemployment down in NovemberGerman unemployment down in November
AP - Germany's jobless rate dipped in November to 7.1 percent as the number of people out of work hit a new 16-year low, but the national labor agency warned Thursday of increasing signs that the economic crisis will soon hit the job market in Europe's biggest economy.
ArcelorMittal to cut up to 9,000 jobsArcelorMittal to cut up to 9,000 jobs
Reuters - ArcelorMittal , the world's largest steelmaker, unveiled plans on Thursday to slash up to 9,000 more jobs, saving $1 billion a year in response to a deepening global economic downturn.
EU: Euro-zone jobless rate hits two-year highEU: Euro-zone jobless rate hits two-year high
AP - Unemployment in the 15 nations that share the euro shot up to 7.7 percent in October — the highest level in two years — as growth dropped sharply, the EU statistics agency Eurostat said Friday.
Poverty spreading in suburbs: studyPoverty spreading in suburbs: study
Reuters - Poverty in the United States is spreading from rural and inner-city areas to the suburbs, according to a study, a situation that can worsen as the economy confronts what may be a protracted recession.
Namibia: Hundreds of Jobs to Be Lost as Last Copper Mines CloseNamibia: Hundreds of Jobs to Be Lost as Last Copper Mines Close
The Namibian copper mining industry was dealt a knockout blow yesterday with an announcement by mining company Weatherly plc that the company's remaining mines at Otjihase and Tschudi are being closed.
Namibia: Farm Workers Earn Above Minimum WageNamibia: Farm Workers Earn Above Minimum Wage
About 70 per cent of the Namibian population directly or indirectly depends on agricultural activities for their livelihood, although the sector only contributes to about 6 per cent of the country's gross domestic product.
Wednesday, November 26, 2008
Obama Vows Emphasis On Job CreationObama Vows Emphasis On Job Creation
President-elect Obama held his third news conference in as many days and announced the formation of a White House panel aimed at creating jobs. Obama picked former Fed Chairman Paul Volcker to head the panel.
SAG, studios try to influence strike voteSAG, studios try to influence strike vote
Both sides in the bitter Hollywood labor dispute begin campaigns to persuade actors who will cast ballots next month. With the collapse of mediation talks between the major Hollywood studios and the Screen Actors Guild, the warring parties wasted little time launching campaigns aimed at discrediting each other while courting the sympathies of actors who will cast ballots in a strike referendum next month.
Flight attendant joins union suit against DeltaFlight attendant joins union suit against Delta
A Salt Lake City-based flight attendant at Delta Air Lines is trying to help block the carrier from starting the process of combining the seniority lists of Delta and Northwest Airlines flight attendants until both groups can vote on union representation.
Metro Atlanta's jobless rate rises to 6.8%Metro Atlanta's jobless rate rises to 6.8%
The jobless rate in metro Atlanta moved up the ladder again in October, reaching 6.8 percent, the state Department of Labor said Wednesday. Unemployment in September in the region had been 6.4 percent. Over the past year, the change has been dramatic and the trend ominous: Metro Atlanta's unemployment rate soared 55 percent from its 4.4 percent level during the same month of 2007.
Trends in Income Inequality, Volatility, and Mobility RiskTrends in Income Inequality, Volatility, and Mobility Risk
A unified measure of inequality, volatility, and mobility risk is developed from well-known decompositions of a generalized entropy inequality measure using panel data. Variation across individuals in mean family income is termed inequality, and the variability of income over time is decomposed into volatility and mobility risk.
Transition Tracker: Decrease Poverty and Increase OpportunityTransition Tracker: Decrease Poverty and Increase Opportunity
The financial crisis is sure to push more Americans into poverty. Senior fellow Rebecca Blank discusses what the new administration can do to combat poverty and increase opportunity for millions, and the man on the street reacts. Also, former presidential press secretary Ron Nessen interviews Stephen Hess on the qualities a new President needs in his congressional relations chief.
Weekly jobless claims fell last weekWeekly jobless claims fell last week
Reuters - The number of workers filing new claims for jobless benefits fell by 14,000 last week, Labor Department data showed on Wednesday, but remained at levels consistent with a deteriorating labor market.
Tuesday, November 25, 2008
The State Of The Social Safety NetThe State Of The Social Safety Net
This week we look at the state of the social safety net in the United States. Given the forecast of a prolonged economic downturn, the country will have to rethink social services such as unemployment insurance, healthcare, and retirement. Jeff Zinsemeyer from the Doorways to Dreams program, shares his thoughts.
Layoffs leave mark on those left behindLayoffs leave mark on those left behind
Whether layoffs come in bunches or one by one, it's never fun to be on the receiving end. And it's not much better for those who are left behind. Sally Herships reports.
A Global Downturn Puts the Brakes on China’s IndustryA Global Downturn Puts the Brakes on China’s Industry
The global downturn is reaching deep into the heart of the country’s once-rapid industrial transformation.
Rich countries face worst recessions since early 1980s: OECDRich countries face worst recessions since early 1980s: OECD
Many leading industrialised nations face their worst economic downturn for 25 years, the OECD warned on Tuesday, forecasting that the US, European and Japanese economies would shrink next year.
Monday, November 24, 2008
Obama To Tackle Explosion In Federal ContractsObama To Tackle Explosion In Federal Contracts
The Bush administration has hired private industry to take over more of the government's work than any administration ever. President-elect Barack Obama says he plans to take on the issue, which an official at a congressional watchdog says is out of control.
Does Losing A Job Mean Losing Your Health Care?Does Losing A Job Mean Losing Your Health Care?
It's a common story: You lose your job, and your health insurance goes with it. But it doesn't always have to be this way. An expert offers several alternatives to prevent your medical bills from adding to your stress.
Difference Between NEC, CEA ExplainedDifference Between NEC, CEA Explained
President-elect Barack Obama chose Lawrence Summers to head the National Economic Council and Christina Romer to chair the Council of Economic Advisers. What is the difference between the two bodies?
German chancellor urges companies to keep jobsGerman chancellor urges companies to keep jobs
AP - German Chancellor Angela Merkel urged companies Sunday not to slash jobs as a result of the global financial crisis, warning that businesses will not be able to rebound once the turmoil eases.
Government coffers open as jobs vanishGovernment coffers open as jobs vanish
Reuters - From the 200 jobs cut at Air New Zealand to the 52,000 heading out the door at Citigroup, unemployment is on the rise around the world, straining government efforts to corral the credit crisis.
More part-time work is bad sign for U.S.More part-time work is bad sign for U.S.
Reuters - Seven months after losing a job in construction, Lorenzo Henderson found work earlier this month packing shelves at a supermarket three days a week, joining a trend toward part-time work that is worrying economists.
German business sentiment falls further in Nov.German business sentiment falls further in Nov.
AP - German business confidence fell to a 15-year low in November as worries about the economy mounted amid the global economic crisis, a key report showed Monday.
Friday, November 21, 2008
Unpaid Wages Spur Reminders of 1998; Putin Pledges HelpUnpaid Wages Spur Reminders of 1998; Putin Pledges Help
Russians have begun to feel the chill of the financial crisis, as it triggers layoffs and wage-payment delays reminiscent of the economic collapse in the late 1990s.
California Jobless Rate Soars To 8.2%California Jobless Rate Soars To 8.2%
Financial crisis punishes California, exacting its biggest toll on the Central Valley.
Improving the Measurement of PovertyImproving the Measurement of Poverty
December 09, 2008, 10:00 AM to 12:00 PM
On December 9, The Hamilton Project will host a policy forum and release a new discussion paper on the need for a new national poverty measure. In their paper, co-authors Rebecca M. Blank of the Brookings Institution and Mark H. Greenberg ofGeorgetown University propose a new poverty measure that better reflects the actual economic conditions of low-income Americans. Hamilton Project Advisory Council members Roger C. Altman of Evercore Partners and Robert Reischauer of the Urban Institute will open the forum and lead the discussion.
From Prison to Work: Overcoming Barriers to ReentryFrom Prison to Work: Overcoming Barriers to Reentry
December 05, 2008, 10:00 AM to 12:00 PM
On December 5, The Hamilton Project will host a policy discussion on the challenges of prisoner reentry featuring remarks by former U.S. Treasury Secretary Robert E. Rubin and a keynote address by U.S. Senator Jim Webb (D-Va.). The event will also feature a policy roundtable with a diverse group of experts on the need for a national prisoner reentry strategy.
Boeing warns of possible layoffs in 2009Boeing warns of possible layoffs in 2009
Boeing management warned workers Thursday that employment will fall in 2009 and that layoffs are possible, an ominous sign that even the previously booming aerospace sector is staggering from the worldwide economic downturn.
Huge WaMu LayoffsHuge WaMu Layoffs
The Seattle bank plans to shut its Pleasanton center and shed 1,600 Bay Area jobs.
Some feel downturn's impact less than othersSome feel downturn's impact less than others
When Phil Prebor's aircraft mechanic job flew away for the fifth time, he decided he had had enough. "I realized that the only way I was going to have steady work or control my destiny was to work for myself," said Prebor, who started a repair business in Peachtree City after he was laid off by Delta Air Lines in 1994. After two weeks of handing out fliers and knocking on doors, Prebor knew he and his new business, Routine Maintenance, could prosper by fixing folks' cars, homes, airplanes or whatever.
Unemployment benefits drying up; Georgia's stableUnemployment benefits drying up; Georgia's stable
The safety net for the nation's unemployed is fraying just as the country heads into a serious downturn. The system created 73 years ago by President Franklin Roosevelt to help out-of-work Americans weather the Great Depression is straining to make it through the current economic crisis. In fact, many states will not be able to pay unemployment benefits in a protracted recession without federal help, experts predict. "States are in worse shape now than they were in 2000 in terms of getting ready for a recession," said Rick McHugh, a staff attorney for the National Employment Law Project, which recently analyzed the health of the country's multibillion-dollar unemployment benefits system. "Some states are going to have a very tough time."
Responding to the global economic crisis: Government and unions put job protection firstResponding to the global economic crisis: Government and unions put job protection first
China has pushed through a series of emergency measures to protect jobs and stabilize the economy in the wake of the factory closures and mass layoffs that have swept the country over the last few months. Beijing’s top labour official, Yin Weimin, told a press conference on 20 November that the employment situation was grim and could get worse before the central government’s four trillion yuan economic stimulation package kicks in next year.
Report: 215,000 German jobs threatened by crisisReport: 215,000 German jobs threatened by crisis
AP - The German economy could lose up to 215,000 jobs in 2009 amid the global economic crisis, Germany's Bild newspaper said Friday, citing a survey it compiled.
ILO launches new report on global wages, including impact of financial crisisILO launches new report on global wages, including impact of financial crisis
The International Labour Office (ILO) is to launch a new study, entitled "Global Wage Report 2008/09: Minimum wages and collective bargaining: Towards policy coherence" on Tuesday 25 November that examines major trends in wages worldwide over the past decade, and provides a forecast of wage evolution in 2009 due to the global financial crisis.
ILO expresses deep concern over economic crisis, moves to forge policy responses based on decent workILO expresses deep concern over economic crisis, moves to forge policy responses based on decent work
Amid growing concern over the impact of economic turmoil on workers, employers and governments, the Governing Body of the International Labour Office (ILO) today took the first steps toward forging employment and social policy responses through social dialogue aimed at meeting the challenges of the deepening global economic crisis.
Global Economic Crisis: G20 Declaration Insufficient, But Better News from the ILOGlobal Economic Crisis: G20 Declaration Insufficient, But Better News from the ILO
The first meeting of G20 leaders on the world economic crisis, while setting a road map that has the potential to create a new financial regulatory agenda, has nevertheless fallen short on some major areas of concern, in particular concerning the immediate fiscal boost required to tackle the looming global crisis in employment, according to the ITUC.
Latest Economic News Releases - U.S. Bureau of Labor StatisticsLatest Economic News Releases
U.S. Bureau of Labor Statistics
Economic News Releases
Comparative Unemployment Rates, Selected European Union Countries, 1995-2008Comparative Unemployment Rates, Selected European Union Countries, 1995-2008
U.S. Bureau of Labor Statistics
Comparative Unemployment Rates, Selected European Union Countries, 1995-2008 .
Russian, Chinese Workers Feel Pain of Global CrisisRussian, Chinese Workers Feel Pain of Global Crisis
Unemployment in China worsened in October and is likely to deteriorate through the first quarter of 2009, officials said in an ...
More job cullings heightens global recession fearsMore job cullings heightens global recession fears
Fears of a global recession intensified on Friday after US lawmakers dashed the auto industry's hopes of a rapid bailout and grim news on the jobs front continued to pile up.
Rhode Island, Michigan tie for highest jobless ratesRhode Island, Michigan tie for highest jobless rates
Rhode Island and Michigan had the highest unemployment rates of all U.S. states in October, at 9.3 percent, the Labor Department said on Friday in a report showing that jobless rates rose across the country.
U.S. consumers expect steep unemployment rise: surveyU.S. consumers expect steep unemployment rise: survey
U.S. consumers expect the unemployment rate to rise steeply in a prolonged recession, and as a result have slashed spending plans, according to a survey released on Friday.
Putting Americans to workPutting Americans to work
As the nation’s economy continues to sputter, it has become routine to read announcements of massive layoffs at major corporations. ...
Bush signs jobless benefits extensionBush signs jobless benefits extension
With no end in sight to economic bad news, President George W. Bush on Friday ensured that millions of laid-off workers will keep getting ...
Thursday, November 20, 2008
Michigan worries automaker meltdown could doom stateMichigan worries automaker meltdown could doom state
A quarter-century ago, Michigan's monthly unemployment rate hit 17 percent and so many laid-off workers left the state that bumper stickers asked, "Will the last one leaving Michigan please turn out the lights?"
UAW head says inaction on bailout 'not an option'UAW head says inaction on bailout 'not an option'
United Auto Workers President Ron Gettelfinger urged Congress and the Bush administration to act immediately on loans for U.S. automakers, saying one or more of them could collapse by the end of the year without it.
Decrease Poverty and Increase OpportunityDecrease Poverty and Increase Opportunity
A major economic slowdown adds to the problems of lower-income Americans, who have not shared in the economic growth of the last decade. On November 24, Brookings senior fellow Rebecca Blank will offer policy solutions and priorities for the president-elect to make greater investments in economic mobility and opportunity.
What economics teaches about globalizationWhat economics teaches about globalization
The story of international trade for the American economy is not win-win, but rather good news, bad news. The good news is that some Americans will reap large rewards, and these rewards will actually be so large as to raise the average income of the entire American economy. The bad news is that many more Americans will lose ground. EPI's new book, Everybody Wins, Except for Most of Us, explains the simple economic theory easily found in almost any textbook that predicts how trade will have an upside and a downside. The book makes amply clear that it is time for the United States to begin its first serious political discussion about how to cut the majority in on the gains from international trade.
Unions Meet in Athens to Develop Strategies Against Forced LabourUnions Meet in Athens to Develop Strategies Against Forced Labour
An International Conference on Forced Labour and Human Trafficking, organised by the ITUC, its Pan-European Regional Council (PERC), the European Trade Union Confederation and the Greek General Confederation of Labour (GSEE) will take place from 21 to 23 November in Athens.
Jobs data miserable, regional factories slumpJobs data miserable, regional factories slump
The number of American workers on the unemployment rolls surged to the highest in a quarter century and a regional manufacturing gauge slumped as U.S. economic misery intensified.
Wednesday, November 19, 2008
The Scouting Report: Decrease Poverty and Increase OpportunityThe Scouting Report: Decrease Poverty and Increase Opportunity
November 26, 2008, 12:30 PM to 1:30 PM
Too many Americans leave school with inadequate skills, and too many working families struggle to make ends meet. Greater investments in economic opportunity are needed to reduce poverty and increase future economic mobility for today’s poor children. On Wednesday, November 26, at 12:30 PM, Brookings Senior Fellow Rebecca Blank will be on hand to answer questions in a live web chat with Politico about poverty in the United States and creating opportunities for American families.
Economist: Georgia's job losses to grow until 2010Economist: Georgia's job losses to grow until 2010
Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University, predicted Wednesday that the already gloomy unemployment picture in Georgia and metro Atlanta will worsen at least through next year before a light rebound. "We expect significant layoffs in the state," Dhawan said in a report to be released today at the center's quarterly conference. By the end of 2008, the state will have lost 75,100 jobs — more than one-third of them "premium," relatively better-paying positions, Dhawan said. Georgia's unemployment rate, 6.5 percent in September, will rise to 7.5 percent next year and to 8 percent in 2010.
High-paying jobs on decline in metro AtlantaHigh-paying jobs on decline in metro Atlanta
The Atlanta area's high-paying jobs are declining and its low-paying jobs are increasing. That's one of the trends in Regional Snapshot, an Atlanta Regional Commission report that comes out Thursday. The report also says the 10-county population increase of 70,200 this year is the lowest since 2003, and is 16 percent lower than the annual average for the decade.
UK CBI sees sharpest contraction in 30 yearsCBI sees sharpest contraction in 30 years
Maufacturers are expecting the sharpest contraction in output in 30 years, according to the latest CBI Industrial Trends Survey, ...
Guatemala: ITUC calls for protection of trade union, indigenous and campesino representativesGuatemala: ITUC calls for protection of trade union, indigenous and campesino representatives
In a letter to President Colom and the Guatemalan authorities, the ITUC has called for adequate measures to be taken to protect the members of the delegation representing the Guatemalan trade union, indigenous and campesino movement who are returning to their country today following a mission to various EU member states.
ITUC Annual World Survey: Onslaught Against Trade Unions Claimed 91 Lives in 2007ITUC Annual World Survey: Onslaught Against Trade Unions Claimed 91 Lives in 2007
The publication of this year's ITUC Annual Survey of Trade Union Rights Violations reveals an appalling record of union-busting, anti-union laws, intimidation and violence against workers' representatives in 2007.
Are Baby Boomers Saving Enough for Their Retirement?Are Baby Boomers Saving Enough for Their Retirement?
This paper estimates the ratio of post- to pre-retirement consumption to explore how well boomers are prepared for retirement. The paper shows that some of the poorest households are best prepared because they can maintain consumption by relying almost solely on Social Security while many of the most affluent households are poorly prepared because they will experience a decline in consumption upon retiring.
Tuesday, November 18, 2008
Union prez: Teacher pay tied to performance worksUnion prez: Teacher pay tied to performance works
Performance-based pay is a road many teachers don't want to travel. But the newly elected president of one of the country's largest teachers unions says that in her experience, school-wide bonuses work.
China moves to stem mass layoffsChina moves to stem mass layoffs
Chinese companies are told they need permission to fire more than 40 workers, in a sign of worry over rising unemployment.
Georgia not among future economic hot spotsGeorgia not among future economic hot spots
If you don't like this economy (and who does?), and want to be part of a new economy instead, you might want to move to Massachusetts or Washington or Maryland. Those states lead the nation in having the right stuff for a "new economy" of highly skilled, highly technical and highly paid workers, according to a study funded by the nonprofit Kauffman Foundation. Such states also are more likely to emerge from the current economic crisis a little sooner and in better shape than others, said Robert Atkinson, president of the research group Information Technology and Innovation Foundation, which conducted the study.
Bosses across China skip town leaving huge unpaid wage billsBosses across China skip town leaving huge unpaid wage bills
It is not just in China’s export orientated manufacturing hub, the Pearl River Delta, that company bosses are leaving workers with unpaid wages. The global economic crisis is affecting all of China’s eastern provinces, and more and more bosses are responding by cutting and running.
Health Care Spending in OECD Countries: Obtaining Value per DollarHealth Care Spending in OECD Countries: Obtaining Value per Dollar
In 2005, the U.S. spent $6,041 per capita on health care--more than double the median per capita spending ($2,922) of the 30 industrialized countries that form the Organization for Economic Cooperation and Development.
ITIF Release Event: The 2008 State New Economic IndexITIF Release Event: The 2008 State New Economic Index
Find out which states are leading, and which are lagging, in the United States’ transformation to a global, entrepreneurial, digital, and knowledge- and innovation-based New Economy, when ITIF releases its 2008 State New Economy Index. The Index, sponsored by the Ewing Marion Kauffman Foundation, ranks states on 29 indicators in five key areas—knowledge jobs, globalization, entrepreneurial dynamism, IT, and innovation—on the extent to which their economies are effectively structured to operate and compete regionally as well as globally. The report also lays out an innovation-based policy agenda designed to help states succeed economically in these turbulent times.
Monday, November 17, 2008
Citigroup To Shed 50,000 More JobsCitigroup To Shed 50,000 More Jobs
The financial meltdown continues to take a toll on some of the nation's big banks. Citigroup announced on its Web site Monday that it is cutting at least 50,000 jobs. CEO Vikram Pandit said the cuts will come from both direct layoffs and the sale of business units. Citigroup has already cut 22,000 jobs this year.
G20 Trade Union Leaders Meet with IFIs, Heads of State and Call for Vigorous Action to Counter the Global Economic CrisisG20 Trade Union Leaders Meet with IFIs, Heads of State and Call for Vigorous Action to Counter the Global Economic Crisis
Trade union leaders from the G20 countries met with the heads of the IMF and World Bank and several heads of government and other government officials on Friday, including the president of Brazil, Lula da Silva, the prime minister of Japan, Taro Aso, and the prime minister of Australia, Kevin Rudd, in advance of the G20 financial crisis summit taking place in Washington. Earlier meetings with trade unions on the G20 crisis summit were held in leaders' home countries with the prime ministers of the United Kingdom and Spain and the president of France.
U.S. Intragenerational Economic Mobility From 1984 to 2004 : Trends and ImplicationsU.S. Intragenerational Economic Mobility From 1984 to 2004 : Trends and Implications
This report explores how Americans have moved up and down the income ladder over the last two decades, and whether it has been more difficult for Americans to get and stay ahead in the last decade. The report focuses on intragenerational mobility: how individuals change economic positions within their own lifetimes.
Friday, November 14, 2008
Layoffs At Your FingertipsLayoffs At Your Fingertips
SFGate.com's new ongoing database lists companies in California that announce major layoffs or plant closures.
Vietnamese Workers Fear U.S. Spending SlowdownVietnamese Workers Fear U.S. Spending Slowdown
As the economic crisis continues, the possibility that U.S. consumers will spend less next year than they did this year is causing worldwide concern. In Vietnam, which exports a large share of its products to the U.S., garment factory workers are already worried about their jobs.
Outsourcing by airlines could tightenOutsourcing by airlines could tighten
For years, U.S. airlines have been moving aircraft maintenance work to Asia, Mexico, Central America and other locations with low labor costs. Now, with the incoming Obama administration and a more Democratic Congress preparing a new aviation agenda, efforts to slow the outsourcing trend may intensify.
Crisis Spreads to Tech Sector as Sun Plans to Cut Work ForceCrisis Spreads to Tech Sector as Sun Plans to Cut Work Force
Joining a rapidly growing list of technology companies reeling from the financial turmoil, Sun Microsystems, which sells server computers,
Ninth Circuit Rules That California's Labor Code Applies To Work Performed In California By Non-ResidentsNinth Circuit Rules That California's Labor Code Applies To Work Performed In California By Non-Residents
In Sullivan v. Oracle Corp., the Ninth Circuit Court of Appeals recently ruled that the California Labor Code applies to work performed in California by non-residents of California.
Thursday, November 13, 2008
Would-be bankers search for jobs in new placesWould-be bankers search for jobs in new places
With job opportunities dwindling in London and other financial capitals, particularly in banking, Oxford's business school is organizing a trip to the ...
NM Eclipse employees unpaid for 2 weeks' workNM Eclipse employees unpaid for 2 weeks' work
Eclipse Aviation employees anxiously watched their bank accounts, hoping to see their last two weeks' pay, and carried boxes of personal ...
Jobless claims jump unexpectedly to 7-year highJobless claims jump unexpectedly to 7-year high
Job seekers line up to speak to a representative of New York Life company at a job fair sponsored by Monster.com at a hotel in Newark, NJ, Thursday,
Study: Traffic congestion could cost Georgia jobsStudy: Traffic congestion could cost Georgia jobs
Transportation woes could cost Georgia 320,000 potential jobs and $515 billion in economic benefits over the next 20 years if the state sticks to "business as usual," according to a new state report released Thursday. Traffic jams and the lack of access to reliable transportation in metro Atlanta will increasingly limit the number of jobs people can commute to, and the number of potential workers an employer can expect to attract, according to the study presented to the state Transportation Board.
Wednesday, November 12, 2008
Certain Green Industries Have Job OpeningsCertain Green Industries Have Job Openings
Tens of thousands of layoffs in the Midwest have left a huge pool of job-seekers. In Ohio, wind turbine makers say they have jobs available that offer good pay and benefits. But they say they are having trouble finding skilled workers for that renewable energy industry.
Taxi Strikes ContinueTaxi Strikes Continue
As the Chongqing taxi strike comes to a close, two new sets of strikes erupted this week: in Gansu, strikes have reportedly already ended, but in Sanya, strikes continue. The Sanya protests are in their third day, as taxi drivers continue to protest high fees, unlicensed cabs, and the detention of 28 fellow taxi drivers, the South China Morning Post read more
Working hard or hardly working?Working hard or hardly working?
Since World War II, annual work hours per capita have gone up by more than an hour a year. But in recent years the economy has been underperforming, and work hours have not recovered since their peak in 1999. This week's Economic Snapshot examines the trend.
Jordan: Serious violations of workers' rightsJordan: Serious violations of workers' rights
Violations of trade union rights and discrimination against migrant workers must be addressed in Jordan, according to a new ITUC report on core labour standards.
For 10th Quadrennial Review of Military Compensation, Retirement Revisions RecommendedFor 10th Quadrennial Review of Military Compensation, Retirement Revisions Recommended
As military compensation is a fundamental tool for recruiting and retaining an all-volunteer force, it is reviewed every four years to make sure it can meet the U.S. military's objectives. This research examines the value and effectiveness of the current retirement system and possible alternatives, drawing on military personnel career data.
Tuesday, November 11, 2008
Companies lobby Congress for pension helpCompanies lobby Congress for pension help
The firms want lawmakers to suspend part of a 2-year-old law that they say could force them to make job cuts as they shift scarce money into ailing retirement pools. With pension funds facing billions of dollars in shortfalls as markets plunge, companies including Ford and Verizon are pushing Congress to suspend portions of a 2-year old law they say could force them to make job cuts as they shift scarce money into ailing retirement pools.
Scholars Delve Into How Money, Family Structure, and Culture Influence Care of the ElderlyScholars Delve Into How Money, Family Structure, and Culture Influence Care of the Elderly
The Urban Institute
Intergenerational Caregiving, a new book from the Urban Institute Press, reveals how social, cultural, demographic, and financial circumstances shape care and support arrangements for Americans as they age, as well as for family members of all ages facing disability and special needs.
Monday, November 10, 2008
Labor tensions rise after Delta-Northwest mergerLabor tensions rise after Delta-Northwest merger
The Air Line Pilots Association and Delta Air Lines have submitted federal filings that are sparking labor conflict just days after Delta closed its merger with Northwest Airlines. The pilots union submitted an application to the National Mediation Board seeking a determination that Delta and Northwest make up a single carrier. Delta agreed with that request in its own filing.
Governor Schwarzenegger Announces Employment Stimulus Action PlanGovernor Schwarzenegger Announces Employment Stimulus Action Plan
Faced with an $11.2 billion dollar budget shortfall, Governor Schwarzenegger announced a targeted employment stimulus package which is designed to generate new jobs, keep existing jobs and businesses in California, and lure others back to the state. The Governor's plan includes seven different proposals to reinvigorate California's economy:
Friday, November 07, 2008
Obama's Economic PrioritiesObama's Economic Priorities
President-elect Obama held his first press conference today, focusing on the economy. Kling commented on Obama’s address saying the nation needs two rounds of stimulus to kick-start the economy—the first to stem recent job losses and help homeowners, and then to focus on longer-term growth.
Unemployment rate reaches highest level in over 14 yearsUnemployment rate reaches highest level in over 14 years
Payroll employment declined for the 10th month in a row, dropping by another 240,000 in October alone, according to today's report from the Bureau of Labor Statistics. Furthermore, data revisions show that an additional 179,000 jobs were lost in previous months than initially reported. That brings the total number of job losses to 651,000 in the last three months and 1.2 million since December 2007.... Over the past 18 months, 3.3 million workers have been added to the jobless rolls, and there are currently 10.1 million unemployed workers in this country.
Jobless rate bolts to 14-year high of 6.5 percentJobless rate bolts to 14-year high of 6.5 percent
AP - The nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, far worse than economists expected and stark proof the economy is deteriorating at an alarmingly rapid pace.
Thursday, November 06, 2008
Path to ProsperityPath to Prosperity
Today, too many Americans are not fully sharing in our nation’s prosperity. Real median wages have stagnated, income inequality has increased, and changes in the economy that have brought benefits have also brought new risks and insecurities. In response to these challenges, our nation needs to act now on three fronts. First, our nation must make the right long-term investments to promote economic growth that is both strong and sustainable. Second, it is necessary to put in place economic policies that will better achieve broad-based participation in that growth. Third, for growth to be sustainable, it is necessary to restore sound fiscal policy, moving on a multiyear path to a sustainable fiscal position. This paper elaborates on these economic challenges.
Worker Productivity Slowed in 3rd QuarterWorker Productivity Slowed in 3rd Quarter
Productivity grew at an annual pace of 1.1 percent, down from a 3.6 percent rate in the second quarter, as a huge pullback by consumers threw the economy into reverse.
Statewide Survey: Californians and Higher EducationStatewide Survey: Californians and Higher Education
Date: November 14, 2008
Time: 12:00-1:30 p.m.
Location: Library and Courts Building
914 Capitol Mall, Room 500
This survey is the second in a series on higher education, conducted with funding from The William and Flora Hewlett Foundation, which examines Californians' attitudes and perceptions of higher education in their state. Residents reveal their preferences for funding higher education, their opinions about the performance of public colleges and universities, and their view of the state's ability to plan for future higher education needs. The survey also examines the overall affordability of higher education, societal trends in higher education, and parental aspirations and concerns for their children's education.
Jobless claims drop slightly from elevated levelJobless claims drop slightly from elevated level
AP - New claims for unemployment benefits dropped slightly last week, while the number of people continuing to receive benefits reached its highest level in more than 25 years, the government said Thursday.
Longer-term jobless benefits hit 25-year highLonger-term jobless benefits hit 25-year high
AP - The number of out-of-work Americans drawing unemployment benefits has surged to a 25-year high, while shoppers turned extra frugal, further proof of the damage from sinking economy, credit problems and financial stresses.
Seniors and retirees step up hunt for jobs in bad economySeniors and retirees step up hunt for jobs in bad economy
Dwindling financial resources are forcing many older people to stay in or return to the workforce. It sounds like an oxymoron, but working in retirement is fast becoming the norm for many older Americans -- forced by dwindling financial resources and a recessionary economy to stay in or return to the job market.
Engineering union rips Boeing's first full contract offerEngineering union rips Boeing's first full contract offer
Boeing released some details of its first offer to SPEEA, the union representing engineers and technical staff.
Wednesday, November 05, 2008
Wall Street’s Pay Is Expected to PlummetWall Street’s Pay Is Expected to Plummet
The first clues are emerging that Wall Street pay will plummet this year — but perhaps not enough to satisfy the financial industry’s critics.
Irish unemployment hits 10-year highIrish unemployment hits 10-year high
AP - Unemployment in Ireland has reached a 10-year high of 6.7 percent as the economy sinks deeper into recession, heaping pressure on the government to increase its deficit spending.
Government jobs may offer securityGovernment jobs may offer security
The government isn't providing just a bailout in these troubled economic times - it might be a safe haven for people worried about job security. U.S. businesses are announcing more and more layoffs as the economy sinks into what most experts say is a...
Japan's burgeoning class: the working poorJapan's burgeoning class: the working poor
In one of the world's wealthiest nations, Junpei Murasawa is a poor man. He skips meals to make ends meet. A bachelor, he lives in a tiny apartment in Tokyo, sharing a kitchen, toilet and shower with nine neighbors. He doesn't have health insurance because he...
Career fairs draw older job seekersCareer fairs draw older job seekers
Catherine Olohan took a buyout from Verizon Communications Inc. last year, after working for the telephone company for more than 30 years. She then promptly rolled over her pension into individual retirement accounts, hoping the money would grow. On...
Tuesday, November 04, 2008
Spain: huge rise in unemploymentSpain: huge rise in unemployment
AP - The number of people filing jobless claims in Spain rose 7.3 percent last month alone and is now the highest since 1996, the government reported Tuesday, providing the latest evidence of the devastating impact of the international financial crisis.
Factory orders drop more than expectedFactory orders drop more than expected
AP - Factory orders dropped by more than three times as much as analysts expected in September as the U.S. manufacturing sector continues to suffer from the economic downturn.
Chongqing taxi strike just the latest in a long line of driver protestsChongqing taxi strike just the latest in a long line of driver protests
The Chongqing municipal government has made a high profile intervention in an attempt to end the widespread and sometimes violent taxi drivers’ strike that erupted in China’s fourth largest city on 3 November. The intervention came as teachers in Chongqing’s Qijiang county ended an eight day strike over pay and conditions.
Monday, November 03, 2008
Boeing Machinists vote to end 57-day strikeBoeing Machinists vote to end 57-day strike
Boeing Machinists voted overwhelmingly Saturday to end their eight-week strike, bringing relief to people around the region affected by the shutdown.
Boeing Production Workers Return To WorkBoeing Production Workers Return To Work
Boeing's commercial aircraft workers are heading back to factory floors. The union and company executives agreed on a contract that ended the costly two-month walkout. In the end, Boeing and the union forged a compromise on the thorny issue of hiring non-union contract workers. The machinists union also won raises of 15 percent over four years, as well as bonuses.
Proper ship breaking: a test for globalization and decent workProper ship breaking: a test for globalization and decent work
The last voyage of the ship "Otapan" to a Turkish ship breaking yard last July was a victory for "pre-cleaning" advocates of reducing the human and environmental dangers inherent in ship dismantling and recycling. But does it also lead to decent working practices? Last week, experts from the ILO, the International Maritime Organization (IMO), and the Basel Convention met to discuss measures to promote guidelines that would make ship breaking not only clean but "green".
The TestThe Test
By Articles on Political History
In 1934, President Franklin Roosevelt asked Frances Perkins, his Secretary of Labor, to draft a plan that might help Americans escape poverty in old age. "Keep it simple," he told her. "So simple that everybody will understand it." On August 14, 1935, after bargaining in Congress, Roosevelt signed the Social Security Act at a White House ceremony. The law "represents a cornerstone in a structure which is being built but is by no means complete," the President said. He continued:
GM Chrylser Deal Would Cause Massive LayoffsGM Chrylser Deal Would Cause Massive Layoffs
Dollars & Sense
As sales at US automakers continue to fall through the floor, Chrysler and GM are trying desperately to hammer out a merger as their sales and cash reserves evaporate. They are currently seeking $10-12 billion dollars in government support to cover merger-related expenses. It's unclear how the merger of two money-losing companies would combine to make a profitable one.
The Commonwealth Fund/Modern Healthcare Health Care Opinion Leaders Survey: Views on Payment ReformThe Commonwealth Fund/Modern Healthcare Health Care Opinion Leaders Survey: Views on Payment Reform
Leaders in health care and health care policy feel strongly that the way we pay for health care in the U.S. must be fundamentally reformed. The latest Commonwealth Fund/Modern Healthcare Health Care Opinion Leaders Survey reports that more than two-thirds of respondents expressed strong dissatisfaction with the current system, which is generally based on "fee-for-service" payment, saying the current system is not effective in encouraging high quality and efficient care.
Bosch puts workers on shorter hoursBosch puts workers on shorter hours
AP - Auto parts supplier Robert Bosch GmbH said Monday it plans to reduce working hours for some workers at a German plant later this week as the car industry cuts costs and braces for economic recession.