In his inaugural speech President Barack Obama pledged to put America back to work; but is it that easy? For all you students of history, there's an interesting article at Star-Telegram about whether it is likely or unlikely a President can influence the unemployment and job loss rate. Here are a few of the highlights [...]
According to an article in the Dallas Morning News LM Ericsson, a wireless equipment maker with over 79,000 employees announced it will experience 5,000 job losses due to net profit losses totaling over $465 million. Ericsson employs 1500 workers in the Dallas- Fort Worth area. The announced job losses represent 6 percent of Ericsson's workforce. [...]
According to an article in the Star-Telegram, the Labor Department announced that new unemployment claim numbers were higher than expected as job losses continue to rise. The Labor Department reported 524,000 new unemployment claims as of the week ending January 10, 2009. New unemployment claims are at their highest level in 26 years. Currently there [...]
There's an interesting article in the Star-Telegram about the rising unemployment rate in Rhode Island which is currently at 9.3 percent. This state is a warning for Dallas-Fort Worth, because what we are experiencing in this current crisis is a shift in what industries will be profitable--hiring employees and expanding, and which industries will die-off [...]
There's an interesting article in the Star-Telegram which exposes how medical insurance costs eats away at unemployment insurance benefits. According to the article, a single worker who has experienced a job loss will spend approximately 30 percent of their unemployment benefits just to continue their former employer's health insurance plan. If jobless workers want health [...]
U.S. retailers experienced 66,600 jobs losses in December closing out what had been the worst year for retail workers since 1939 when the government began tracking work in this sector. With over 522,000 job losses in 2008 workers in the retail sector are in the fight of their lives as many of the biggest companies [...]
Comptroller Susan Combs announced that she estimated that Texas will have about $9 billion less in the budget for 2009 than it did two years ago. She also predicted that Texas will experience 110,000 job losses (nonfarm) within the next nine months caused by a decrease in tax revenues for the state. Furthermore, sales tax [...]
In 2007, 5% of the companies in the U.S. reduced salaries of current employees. They also slashed working hours, benefits and early retirement options in an attempt to avoid bankruptcy and put their companies into the black financially. According to some experts, in the coming months many employers will consider reducing employee salaries by 10% [...]
According to a report released by the Labor Department , the amount of jobless claims increased by 101,000 jobless workers bringing the total amount of unemployed to 4.61 million unemployed workers. It is predicted by some experts that the number of jobless workers will increase drastically if major steps are not taken to boost the [...]
We all know the dismal job outlook for the American economy and President-elect Obama is now proposing on his website an agenda of solutions designed to increase the number of jobs and give businesses an incentive to hire more workers using tax credits. According to the Obama website : Obama and Biden will provide a [...]