Claims stay unusually high as more workers take advantage of benefits
First-time claims for jobless benefits remained unusually high in the latest week as more workers took advantage of states' efforts to sign them up for unemployment insurance, the Labor Department said Thursday.
Claims for the week ended Aug. 2 rose to 455,000, a gain of 7,000 from the prior week. The figure was the highest in more than six years.
Many economists see claims above 400,000 as a sign of recession.
Investors reacted negatively to the uptick in unemployment claims. See Market Snapshot.
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Showing posts with label Job Economy. Show all posts
Showing posts with label Job Economy. Show all posts
Thursday, August 7, 2008
Wind Power Is Poised To Support U.S. Jobs
The U.S. Department of Energy contends that wind power can provide 20 percent of the nation’s electricity by 2030.
(NAPSI)- In 2007, wind was already one of the fastest-growing sources of electricity in U.S. households, and the U.S. Department of Energy contends that wind power can provide 20 percent of the nation’s electricity by 2030 and be a critical part of the solution to global warming.
Some say achieving a 20 percent wind contribution to U.S. electricity supply would:
• Reduce carbon dioxide emissions from electricity generation by 25 percent by 2030;
• Reduce natural gas use by 11 percent;
• Reduce water consumption associated with electricity generation by 4 trillion gallons by 2030.
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(NAPSI)- In 2007, wind was already one of the fastest-growing sources of electricity in U.S. households, and the U.S. Department of Energy contends that wind power can provide 20 percent of the nation’s electricity by 2030 and be a critical part of the solution to global warming.
Some say achieving a 20 percent wind contribution to U.S. electricity supply would:
• Reduce carbon dioxide emissions from electricity generation by 25 percent by 2030;
• Reduce natural gas use by 11 percent;
• Reduce water consumption associated with electricity generation by 4 trillion gallons by 2030.
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Monday, August 4, 2008
Looming job cuts march on - report
The number of job cuts announced in July jumps 26%. Airlines and financial firms top the list, according to a monthly study.
The nation's employers continue to put jobs on the chopping block at a steep rate as the economy struggles, according to a new report.
Challenger, Gray & Christmas, an outplacement consultancy firm, said Monday that planned job cuts announced by employers in July jumped 26% to 103,312 from 81,755 announced in June.
That's up 141% from a year ago, when employers announced planned job cuts totaling 42,897.
The July figure marks the second-highest number of planned job cuts this year, rivaling the May reading that showed 103,522.
"We have seen job cuts increase in the majority of industries that we track," John Challenger, chief executive of Challenger, Gray & Christmas, said in a statement.
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The nation's employers continue to put jobs on the chopping block at a steep rate as the economy struggles, according to a new report.
Challenger, Gray & Christmas, an outplacement consultancy firm, said Monday that planned job cuts announced by employers in July jumped 26% to 103,312 from 81,755 announced in June.
That's up 141% from a year ago, when employers announced planned job cuts totaling 42,897.
The July figure marks the second-highest number of planned job cuts this year, rivaling the May reading that showed 103,522.
"We have seen job cuts increase in the majority of industries that we track," John Challenger, chief executive of Challenger, Gray & Christmas, said in a statement.
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Thursday, July 31, 2008
GM Aims To Cut US Salaried Work Force By 15%
General Motors Corp. (GM) is looking to cut its U.S. salaried headcount by 15%, or around 5,000 workers, by Nov. 1 as part of a plan to cut $10 billion in annual expenses, according to sources briefed on the plan.
The auto maker previously said it was planning a 20% reduction in salaried- worker costs, including a combination of benefit reductions and job cuts.
GM hopes to convince workers to leave voluntarily by offering early retirement incentives rather than forcing layoffs. The company is expected to soon roll out offers to workers that will include both cash incentives and the chance for some to leave the company early with full pension benefits.
GM has reduced its white-collar work force 40% since 2000, down to about 32, 000 employees, as part of a massive downsizing underway for much of this decade.
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The auto maker previously said it was planning a 20% reduction in salaried- worker costs, including a combination of benefit reductions and job cuts.
GM hopes to convince workers to leave voluntarily by offering early retirement incentives rather than forcing layoffs. The company is expected to soon roll out offers to workers that will include both cash incentives and the chance for some to leave the company early with full pension benefits.
GM has reduced its white-collar work force 40% since 2000, down to about 32, 000 employees, as part of a massive downsizing underway for much of this decade.
Read Complete Story
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