Job Market Monitor
United States
OECD | Balance of economic power to shift dramatically over the next half century: China Will Overgrow United States
The balance of economic power is expected to shift dramatically over the next half century, with fast-growing emerging-market economies accounting for an ever-increasing share of global output, according to a new OECD report. Divergent long-term growth patterns lead to radical shifts in the relative size of economies. The United States is expected to cede its … Continue reading
US | Fiscal Cliff | 2 million jobless Americans could lose UI
Congress last lengthened the deadline to file for benefits in February, but lawmakers also restructured the program at the time. The maximum number of weeks the jobless can collect unemployment benefits was reduced to 73 weeks. And in all states save New York, the jobless are no longer eligible for a separate federal extended benefits … Continue reading
US | Job Gap is 9 million
The labor market has added nearly 5 million jobs since the post-Great Recession low in Feb. 2010. Because of the historic job loss of the Great Recession, however, the labor market still has 3.8 million fewer jobs than it had before the recession began in Dec. 2007. Furthermore, because the potential labor force grows as … Continue reading
LGBT Leaders | What Obama Must Do Next
Barack Obama’s win of a second term was achieved not in spite of his support of the LGBT community but in part because of it. The question now is what President Obama should do next in his second term to move the civil rights of people in our community “forward.” I asked 10 of America’s … Continue reading
Meningitis Outbreak | Ameridose LLC to cut 790 jobs
Ameridose LLC, an affiliate of the drug-compounding pharmacy at the center of a deadly fugal meningitis outbreak in the United States, is cutting 650 positions as it grapples with an indefinite closure following regulatory scrutiny of its sterilization practices. According to the Boston Globe, Ameridose employees have been notified of their pending termination from the … Continue reading
Obama’s second term | 3 priorities: Jobs, jobs, jobs
It’s still about jobs. What will determine the core success of President Barack Obama’s second term is progress – or the lack thereof – in reducing long-term unemployment. We know this from exit polls, which ranked the economy as the top issue (selected by about 60 percent of voters) and, more important, from common sense. … Continue reading
US | Wealthy | Would a tax hike cost 700,000 jobs ?
Rep. Pete Sessions, however, went further, and actually claimed hundreds of thousands of people would lose their jobs if Obama’s proposed tax increase went into effect. What’s the math behind his claim? The Facts According to an aide, Sessions obtained his figure from a study prepared last year by two economists at Ernst & Young for … Continue reading
US | Jobless claims | A Drop, But Thx to Sandy
Unemployment Insurance Weekly Claims Report SEASONALLY ADJUSTED DATA In the week ending November 3, the advance figure for seasonally adjusted initial claims was 355,000, a decrease of 8,000 from the previous week’s unrevised figure of 363,000. The 4-week moving average was 370,500, an increase of 3,250 from the previous week’s unrevised average of 367,250. The … Continue reading
Layoffs Don’t Benefit Hospitals
Dean Gruner, MD, and Chris Van Gorder are not your everyday health system CEOs. Dr. Gruner is president and CEO of ThedaCare, a five-hospital system in Appleton, Wis., with roughly 6,100 employees. Mr. Van Gorder, a former police officer, is president and CEO of Scripps Health, a five-hospital system in San Diego with almost 13,000 … Continue reading
US | Destroying Its Education System ?
A nation that destroys its systems of education, degrades its public information, guts its public libraries and turns its airwaves into vehicles for cheap, mindless amusement becomes deaf, dumb and blind. It prizes test scores above critical thinking and literacy. It celebrates rote vocational training and the singular, amoral skill of making money. It churns … Continue reading
US | Job Growth at Four-Year High According to Gallup
U.S. workers reported little change in net hiring at their workplaces in October, with the Gallup Job Creation Index averaging +19 for the month, similar to the +18 recorded in September. The index has been between +17 and +20 since March, essentially hovering at the highest levels seen since mid-2008. The Job Creation Index in … Continue reading
US – Over half of households may be unable to maintain their standard of living in retirement
The release of the Federal Reserve’s 2010 Survey of Consumer Finances is a great opportunity to eeassess Americans’ retirement preparedness as measured by the National Retirement Risk Index (NRRI) write Alicia H. Munnell, Anthony Webb, and Francesca Golub-Sass in The National Retirement Risk Index: An Update. (Choosen excerpts by JMM to follow) NRRI shows the share … Continue reading
US federal tax credit subsidies to expire – Wind industries lay off hundreds of workers
Hundreds of workers in our region are losing their jobs as wind turbine manufacturers cut production. The federal tax credit that subsidizes wind energy is set to expire at the end of the year, and political uncertainty is putting the brakes on the wind industry. More than 500 workers are losing their jobs in the … Continue reading
US – Job Openings essentially unchanged from August says DOL but…
There were 3.6 million job openings on the last business day of September, essentially unchanged from August, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.1 percent) was little changed while the separations rate (3.0 percent) declined in September. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm … Continue reading
US – Solar Jobs Growth Outpaces The Whole Economy
The last two years have brought record investments and project development in the industry, with U.S. installations growing 116 percent in the second quarter of this year — much of it driven by the loan guarantee program. As a result of strong federal support, job growth in the industry continues to outpace the broader economy. … Continue reading
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