Blog Entries tagged 'employment' Blog Entries tagged 'employment' Fri, 31 Dec 2010 21:27:29 +0100 FeedCreator 1.7.2 Hiring to increase in 2011

The employment picture is expected to brighten in 2011, but in a rather unconvincing manner.

The big question is whether the long-term unemployed lose their patience, or worse, their marketable skills, before they find a job.

According to a survey conducted by Harris Interactive and published by CareerBuilder more jobs will be added in 2011 than 2010, but job creation will remain gradual. The survey of more than 2,400 hiring managers and human resource professionals acr [...] Tue, 28 Dec 2010 23:00:00 +0100 temporary workers Harris Interactive employment growth employment contract workers Careers/Management CareerBuilder Companies are having a tougher time hiring foreign workers

Looks like federal agencies are making it harder for companies to get temporary visas for foreign workers.  And it's creating a burden for firms that can't run their businesses without such employees.

Industries that depend on seasonal workers, agricultural laborers, and professionals such as computer programmers are having a particularly bad time. According to BloombergBusinessweek, for example, H-2B visas for seasonal workers decreased 52 percent last year. And a recent [...] Wed, 01 Sep 2010 23:00:00 +0100 temporary visas foreign workers employment compliance Time to keep subsidizing home prices

I have to disagree with my colleague Steve Taub on this, not because my heart bleeds for jobless, underwater homeowners, but to keep foreclosures from driving home prices ever downward.

Here's the thing: What is the "natural" price that Steve wants the market to find?

I'd argue that there is none, or more precisely, that in the current environment, it will be impossible to distinguish that from a "fire sale" price. This conundrum is, in fact, the basis [...] Thu, 12 Aug 2010 23:00:00 +0100 Regulation recovery recession Freddie Mac financial crisis Federal Reserve FASB Fannie Mae employment Careers/Management bankruptcy banking industry bailouts Accounting Why corporations may not care about the domestic economy

Paul Krugman today once again bemoans the lack of Keynesianism in what passes for economic policymaking discussions these days, and I share that complaint.

However, Krugman may be missing part of the problem here, which is that those who pooh-pooh the prospect of deflation may actually not much care if it materializes, though they would be mistaken to do so.

Yves Smith gets at this today in a post of her own in connection with a Robert Frank piece in the Wall Street Jou [...] Mon, 02 Aug 2010 23:00:00 +0100 recovery recession outsourcing offshore joblessness global economy employment growth employment emerging markets economy earnings demand cutting costs corporations Time to reread Keynes

I've avoided rehearsing the on-going debate over the bleak macroeconomic picture, because it quickly descends into endless political back and forth along with the usual name-calling, as my colleague Steve Taub and I have been discussing internally today.  But it's time to make an exception:

Is the private sector not hiring because it fears more aggressive action from the public sector, and so the public sector (read Obama administration) should leave the economy to itself [...] Mon, 26 Jul 2010 23:00:00 +0100 recovery recession Obama Administration jobs joblessness investment financial crisis environmental policy energy employment economy demand Congress Careers/Management Why companies aren't spending

There's a political debate heating up about companies' hesitancy to invest the cash they're sitting on.

Essentially, the Democrats--or at least those in favor of further government stimulus measures such as a jobs program or at least extended unemployment benefits--argue that companies are wary of spending because of the lack of aggregate consumer demand.

The GOP--or those in the party who oppose stimulus in favor of austerity or at least tax cuts--prefer to explain th [...] Wed, 07 Jul 2010 23:00:00 +0100 recovery recession Obama Administration Obama jobs joblessness employment economy earnings demand cash position cash management Cash capital expenditures capex Why the recovery doesn't really feel like one

There's suddenly lots of talk about the possibility of a "double dip" recession, as if the economy had ever really emerged from the last downturn. 

Yves Smith over at Naked Capitalism does a good job of putting the talk in perspective today. In fact, the discussion is ultimately about semantics.

And another blogger, at Calculated Risk, points to the fundamental problem here while questioning whether St. Louis Fedster James Bullard is too optimistic about where [...] Mon, 14 Jun 2010 23:00:00 +0100 unemployment recovery recession jobs joblessness income Federal Reserve employment economy Careers/Management How meaningful is manufacturing's rebound?

For the tenth month in a row, economic activity in the manufacturing sector expanded, according to the May 2010 Manufacturing ISM Report on Business. In fact, 16 of 18 sectors within manufacturing reported growth, including paper and wood products, as well as electrical equipment and food, beverage and tobacco products.

Several factors fed into the increase. The new orders index was at 65.7, the same as April, but up from 61.5 in March. [...] Sun, 06 Jun 2010 23:00:00 +0100 jobs employment economy Recent increase in startup activity: Will it last?

A lot of fuss has been made about new Kauffman Foundation research  showing a substantial rise in the number of startups in 2009--the highest rate in 14 years. But what's been left out of the commentary is how those findings compare to an exhaustive Kauffman study disclosed a few months ago. It demonstrated that the number of new firms created in the US over a period of several decades, ending with 2005,  remained fairly constant over time.

The clear implication: The cur [...] Thu, 03 Jun 2010 23:00:00 +0100 startups small business Kauffman Foundation employment Job growth over the long-term is higher at smaller establishments

If you harbored any doubts about the importance of small businesses to job growth, then you should consider the results of new research looking at payroll data over the past ten years.  The clear conclusion is that the lion's share of employment growth over the long term has happened at  establishments employing fewer than 50 people.

But the implications for our current economic situation are disturbing.

The research, from Case Western Reserve's  Scott Shane [...] Thu, 13 May 2010 23:00:00 +0100 small business Scott Shane Ewing Marion Kauffman Foundation employment Several signs of job growth recovery

Most eyes will be on the monthly employment numbers when they are reported on Friday. Especially on the heels of last month's report, which showed the economy adding 162,000 jobs in March, the largest increase in three years.

Afterall, a growing number of economic indicators point to a recovering economy. Yet, most experts agree we cannot declare a full-fledged recovery until the unemployment rate falls significantly from its current level of nearly 10 percent.

This sa [...] Sun, 02 May 2010 23:00:00 +0100 Monster Worldwide jobs ISM employment Careers/Management More hype about a bellwether's results

By this point, press cheerleading for the economy is hardly newsworthy, and I'm not the first to notice the latest example.

But the down-is-up spin on Caterpillar's results cannot escape mention.  As the Business Insider notes, the Bloomberg story is tame by comparison with the ravings on CNBC yesterday.

Yes, the earth-moving equipment maker's bottom line results -- which like those of General Electric are widely considered a proxy for the global economy [...] Mon, 26 Apr 2010 23:00:00 +0100 unemployment jobs joblessness health care General Electric GE employment economy cost reduction consumer spending construction China Careers/Management bubbles Accounting The Census, unemployment and GDP

The 48,000 jobs added in March by hiring for the US Census will be followed by more of the same in the coming months, and it's nothing to sneeze at in terms of the paychecks involved and even the temporary boost that provides to the economy, according to a Commerce Department report released in February

The total number of positions added will peak in May at some 800,000, according to the report, though the number showing up in the employment figures would be some 200,000 less, beca [...] Tue, 06 Apr 2010 23:00:00 +0100 recovery recession joblessness employment economy Commerce Department Careers/Management Now hiring: really small businesses

Seems we're seeing tepid indications of a pick up in hiring. For one thing, the Bureau of Labor Statistics just announced an increase in 162,000 nonfarm jobs in March and that the unemployment rate is holding steady.  What 's more,  there are also signs of more hiring going on among very small businesses, those with under 20 employees.

That last point could be really good news, because employment among such companies is supposed to be a leading indicator of recovery, [...] Thu, 01 Apr 2010 23:00:00 +0100 your career small business hiring employment compliance Bureau of Labor Statistics The case for a bigger jobs bill

At the risk of seeming terribly politically incorrect, I highly recommend taking a look at this paper published today by the Economic Policy Institute, which argues that further government stimulus is necessary for the economy to recover.

Essentially, authors Josh Bivens and Heidi Shierholz argue that prospects for new hiring are so dismal because of productivity gains in recent years that it will take much higher GDP growth than anyone reasonably expects to bring unemployment dow [...] Tue, 30 Mar 2010 23:00:00 +0100 unemployment Tax recovery recession inflation heatlh care employment economy compliance Careers/Management budget ADP seeing increased demand from small businesses

The vast majority of headlines surrounding small business have been of the "doom and gloom" variety, so we thought we'd mix things up and provide some potentially good news on that front: Automatic Data Processing is reporting that sales of services to companies with 50 employees or fewer have increased since September.

"It's a clear indication that small business is coming back," ADP's CEO Gary Butler told Bloomberg BusinessWeek in a [...] Tue, 16 Mar 2010 23:00:00 +0100 small business payroll hiring employment Careers/Management ADP A downtick in foreclosures could really reflect the weather

It seems to me that the crappy weather in February is only cited as an excuse for poor performance, but never an explanation for the opposite.

Yes, this Realtytrac report on foreclosures says they may have fallen last month because notices were late, but that fact wasn't reported today in NPR's coverage this morning.

Check it out: "Severe winter weather appears to have temporarily slowed the processing of foreclosure records in some Northeastern and Mid-Atlantic [...] Wed, 10 Mar 2010 23:00:00 +0100 reform recovery recession mortgage foreclosures media loan delinquencies joblessness financial crisis employment economy Careers/Management bubbles Why huge corporations are bad for the economy

There are three pieces in the blogosphere today that touch on the fundamental problem with our economic system and why it will remain in a ditch, or just lurch onward to the next crisis, if it isn't addressed.

And that is monopoly. I'll leave aside the politics of that, which is addressed well enough by Thomas Franks over at the Wall Street Journal. In a nutshell, he warns of a return to feudalism, which I've done as well before.

What struck me as new was this analysis [...] Wed, 03 Mar 2010 23:00:00 +0100 Regulation recovery recession New York Fed joblessness hiring growth financial crisis employment economy compliance capital expenditures Banks banking reform banking industry antitrust A deficit hawk favors government stimulus! (chirp)

Finally, a deficit hawk gets it.

Former Comptroller General David Walker, now CEO of the Peter G. Peterson Institute, has co-written an op-ed with the Lawrence Mishel, president of the liberal Economic Policy Institute, in which they agree that federal budget deficits must rise in the short term so the government can take more aggressive measures to boost employment.

As Walker, who headed the General Accountability Office for 10 years, and Mishel put it in a piece [...] Wed, 03 Mar 2010 23:00:00 +0100 recovery recession jobs joblessness health care employment economy Careers/Management Stock buybacks herald a recovery? Really?

In its latest Herculean effort in positive spin, Reuters claims an increase in corporate stock buybacks is the latest sign of economic recovery.

Come again? If correlation isn't cause, then this article deserves a prize for mistaking the two, even if it marshaled a bit of data for evidence of the claim, which it decidedly does not.

But let's accept its undocumented assertion that buybacks are often accompanied by increases in M&A and capital expenditures.

Just [...] Mon, 01 Mar 2010 23:00:00 +0100 unemployment recovery recession M&A; joblessness employment economy Cash capital expenditures buybacks