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Young Women Closing in on Gender Wage Parity
Tweet Share on Facebook July 31, 2009 Comment (2)Working women in their early twenties are close to catching up to their male counterparts in median earnings, according to Labor Department data. Women in most age groups have made gains since 1979, but full-time working women ages 65 and older have gained no ground in closing the wage gap.
This graph from the Labor Department shows women's weekly earnings as a percentage of men's in 1979 and 2008, by age group.
[See how bad credit could cost you a job]
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13 Cities Where Some of the Job News is Good
Tweet Share on Facebook July 30, 2009 Comment (2)The Labor Department reported metro area employment data this week, and it's clear that while all cities have suffered in this recession, there's no question the damage has been worse in some spots. Consider that Kokomo, Ind., suffered the highest percentage point increase in the unemployment rate over the past year--an 11.8 point rise.
Here's a look at 13 metro areas the Labor Department highlighted for topping one or more measures, including employment change in number or by percentage between June 2009 and June 2008, as well as lowest unemployment rates in June. (Keep in mind that some of the cities may actually have added jobs, but still have high unemployment.)
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More Job Seekers Are Relocating For Work
Tweet Share on Facebook July 27, 2009 Comment (3)Job seekers are showing a willingness to move again. The percentage of job seekers who relocate for a new job has more than doubled to 18.2 percent from a recessionary (and record) low of 8.9 percent early last year, according to a new report from Challenger, Gray & Christmas. That percentage--of job seekers who find employment--has been steadily increasing. It was up from 14.3 percent in the first quarter and up from 11.4 percent in the year ago period.
[See 10 cities with the most job postings per capita]
The trend could mean that workers--now nearly 20 months into the recession--have seen that the job and housing markets are not rebounding quickly, and are more willing to lose money on the sale of their homes if it means getting a paycheck. “While job seekers are no less likely to lose money on the sale of their home and the job market is only marginally more stable than it was six months ago, the overwhelming desire to get back to work appears to be outweighing the perceived risks,” chief executive John Challenger says.
Moving rates are tracked by the Census Bureau, which reported that the 2008 national mover rate was the lowest in its 60 year history of being recorded. Last year, people in the South and the West were more likely to move than those in the Midwest and the Northeast, according to Census data. Renters were also five times more likely to move than homeowners.
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The End of Unemployment Benefits: 5 Things to Know
Tweet Share on Facebook July 21, 2009 Comment (57)While Presidents Bush and Obama have done many things differently, they used one common tool to help stimulate the economy: unemployment benefit extensions. Still, the efforts of both presidents may not have been enough to hold over millions of American workers until they find their next jobs. More than a half-million Americans are expected to fully exhaust their benefits by the end of September.
[See 10 cities with the most job postings]
With longterm unemployment streaking higher, the job market shows no signs of real recovery. The declining number of people filing initial unemployment benefit claims is evidence that companies are slowing their job shedding, but they don't appear to be ramping up hiring yet. Here are five things to know about benefit exhaustion:
Some 540,000 Americans are expected to fully exhaust their unemployment benefits by the end of September, and another 1.5 milllion by the end of the year, according to an analysis by the National Employment Law Project. Fully federally funded benefits extensions are covering 2.8 million workers, the NELP reports.
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Employee Free Choice Without Card Check: "Card Check Lite?"
Tweet Share on Facebook July 17, 2009 Comment (10)In an effort to get moderate Democrats in the Senate on board with the Employee Free Choice Act, the key "card check" provision of the bill has been scrapped, the NYTimes is reporting. Opponents centered their fight around this section of the legislation, which would allow workers to form unions by signing cards instead of holding a secret ballot election. But the fight isn't over--even if card check is scuttled--as opponents are taking aim at possible revisions.
[See 5 things to know about the Employee Free Choice Act]
Business interests have argued that card check would make workers vulnerable to union intimidation, while unions argued that the existing process of holding secret ballot elections has left workers open to intimidation and threats from employers. To form a union now, at least 30 percent of workers must sign cards indicating they want a union before they can hold an election, then a majority must vote to organize. During the election process, some employees have been subjected to "threats, interrogation, harassment, surveillance, and retaliation for union activity," according to the Economic Policy Institute, a think tank focused on labor issues that receives some funding from unions.
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Cisco Layoffs: Yes, Companies are Still Cutting Jobs
Tweet Share on Facebook July 16, 2009 Comment (6)Cisco laid off between 600 and 700 workers at its San Jose headquarters today, providing a stark reminder that jobs are still under threat and companies are continuing to cut costs, despite positive signs of recovery elsewhere in the economy.
There was good news today: IBM reported earnings that were well above analysts' expectations after the market closed, and JP Morgan said its second quarter profits rose 36 percent. The Labor Department also reported that continuing jobless claims had dropped by 642,000 from the previous week.
[See more on the future of the job market]
But minutes from the Federal Reserve's June 23-24 meeting show officials are worried about the health of the job market. A key excerpt:
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10 Best Cities to Look For Creative Jobs
Tweet Share on Facebook July 15, 2009 Comment (11)You can head for a city with a low unemployment rate, or you can find a city that's got a slightly outsized need for the job you know best. For people in creative careers, you may actually be able to find work in this recession if you spend some time focusing your search on spots where the supply/demand ratios are more favorable. Here are some of the top cities for jobs from acting to architecture, according to data from Wanted Technologies.
[See 10 cities with the most job postings per capita]
San Francisco: If you're an actor, you may have your best shot auditioning in this Northern California metropolis.
Dallas: According to the Wanted data, it would be a good idea for chefs, writers and authors, singers and musicians, and floral designers to look for work in this Texas city.
Provo, Utah: This city should rank tops for job-seeking graphic designers.
New York: Photographers and chefs will find one of their best job markets right now in New York.
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A Fitness Stimulus Could Save Lives and Jobs
Tweet Share on Facebook July 14, 2009 Comment (1)Amid the chorus of calls for another stimulus package (it would be President Obama's second, the country's third), a new study is released that finds that active commutes--walking or biking some portion of the distance to work--are correlated with a higher level of fitness. But only 17 percent of Americans walk or bike any distance to work. Why?
From the AP story:
Crumbling sidewalks, lack of bike paths and sheer distances all keep American commuters in their cars, experts said.
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9 Things to Know About the Job Market of the Future
Tweet Share on Facebook July 13, 2009 Comment (25)The President's Council of Economic Advisers released a report today detailing their forecasts for the job market over the next decade or so. Here are 9 key points, followed by excerpts from the report:
Unemployment under the stimulus is higher than officials expected, but the White House insists job creation is on track: "The ARRA [stimulus] is projected to create or retain 3.5 million jobs as of the fourth quarter of 2010. These jobs are projected to be in all major industries in the economy." (Note that this figure will never be measurable, as it will be impossible to calculate job creation/destruction without the stimulus.)
Health care will be the energizer bunny of hiring: "Health care is forecasted to remain a large source of job growth in the labor market. The long-term trend toward more employment in health care is expected to continue, with many health care occupations, including medical records and health information technicians, registered nurses, clinical laboratory technicians, and physical therapists, expected to grow."
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10 Cities With the Most Job Postings Per Capita
Tweet Share on Facebook July 10, 2009 Comment (101)Among the 50 largest cities in the U.S., one stands out for having the most abundant job postings per capita: Washington, D.C. The nation's capital boasted 133 postings per 1,000 residents in the second quarter of 2009, according to a report by Indeed.com, a broad job search engine that combs company and association websites, job boards, newspapers, and blogs for postings. That Washington took the top spot is no great surprise, as government hiring has held up during the recession.
The runner up is Baltimore, Md., which is aided by its close proximity to Washington, but also boasts an economy fueled by recession-hearty industries like healthcare and higher education. Baltimore's unemployment rate was 7.2 percent in May, well below the 9.4 percent national average that month.
[See more on the job market of the future]
San Jose ranked no. 3 for job postings per capita in the second quarter, despite a regionally high unemployment rate in May, and continued fallout from the housing collapse. Still, the tech industry is resilient, and Alan Berube, co-author of a recent Brookings report on metro area economies, has said the Bay Area economy may recover more quickly than the rest of the nation. The metropolitan San Jose economy has remained one of the strongest through the recession, according to the Brookings report.
