Brad DeLong says efforts to have the economy create jobs on its own haven't worked. Looking to the mid-term elections, lawmakers have a few options left to improve the employment picture.
There is still time for a substantial shift in federal spending toward high-employment (but in all likelihood low-value) projects to reduce unemployment before the end of 2010 – if Congress acts quickly. And there is still time for a substantial temporary and incremental new-hire tax credit aimed at getting businesses to boost employment before the end of 2010.
Jan 27, 2010 10:27 AM
The St. Petersburg Times reports Iasis Healthcare has cut the staff at its Palms of Pasadena Hospital by about 5 percent, or the equivalent of 25 full-time positions. The Franklin hospital company owns two other hospitals in the bay area, Town & Country and Memorial Hospital of Tampa.
Jan 26, 2010 11:20 AM
On the heels of a report showing technology sector job cuts rose to 175,000 last year, there are signs that IT hiring may rebound this year, boosted by gains in health care IT. Check out Information Week's post on the predicted jump in IT spending this year and the impact of health care providers implementing electronic health records.
Jan 25, 2010 1:30 PM
Missouri-based Confluence Solar is planning a new 200,000 square foot manufacturing, distribution and warehousing facility in Clinton, Tenn., investing about $200 million and creating 250 jobs. As Jeff Woods pointed out this morning, it's the third big solar company lured to Tennessee in the past year. From the presser:
"Two years ago, we set upon a strategy to make Tennessee a significant player in the solar industry," said Governor Bredesen. "Since then, we've seen more than two billion dollars in capital investment, more than a thousand jobs created, and, with the development of the Solar Farm and existing solar companies located in West Tennessee, we have truly created a statewide solar footprint. The announcement today by Confluence Solar is further proof that Tennessee is recognized as a leader in renewable energy and that a new economic engine is emerging in our state."
Jan 21, 2010 11:42 AM
Planned job cuts in the technology sector rose 12.3 percent in 2009 to nearly 175,000, according to statistics released today by Chicago outplacement consultancy firm Challenger, Gray & Christmas. The increase was mostly due to planned cuts in the first quarter — about 84,000. Electronics firms had the most planned layoffs last year, totaling 65,300. Telecommunications companies planned 9.4 percent fewer cuts than 2008. 2010 should be better. From the presser:
Technology jobs will not only see gains in the coming the coming year, but they are among the occupations that will realize the fastest growth over the next decade. The number of network systems and data communications analysts is expected to increase by 53 percent by 2018, while the number of computer software engineers expands by 34 percent, according to projections recently released by the Bureau of Labor Statistics.
Jan 19, 2010 10:40 AM
Gerard Jackson at Safe Haven says the Obama administration's push to fund environment-minded jobs is misguided because it will create a more labor-intensive economy and depress wages and productivity.
Now there is absolutely no way under the sun that these green energy jobs could ever match the productivity of power stations. And no matter how many tantrums greenies throw nothing will change that fact.
Jan 19, 2010 9:56 AM
James Picerno has a close look at one set of indicators that suggests no employment-led boom this year.
Midway through the first month of 2010, there are enough headwinds facing the economy to keep our expectations in check. That includes the dire trend in the tally of the long-term unemployed (out of work for 27 weeks or more), which hit the highest rate since 1948, when data on this series was launched. [...] “This is not your typical cyclical downturn where hiring is just postponed until business improves,” Richard DeKaser of Woodley Park Research tells the Christian Science Monitor. “This is really more about structural unemployment.”
Jan 19, 2010 9:32 AM
Navigator Executive Advisors, a fast-growing Florida-based outplacement and career transition firm, has hired Sharon Barnes to work the Middle Tennessee market. Barnes is an HR veteran with experience at HCA and Cendant, among other places.
Jan 18, 2010 10:36 AM
David Rosenberg at Gluskin Sheff says the nitty gritty of Friday's disappointing employment report was even more discouraging than the headline payroll number, which has a large-company bias. Looking at the so-called household survey provides a broader view at the market.
... [T]he trends in orders, output, sales and employment have been far less robust than has been the case for big businesses, which have greater access to credit and exposure to the global consumer. On this basis, employment showed a massive 465,000 decline in December and down exactly three million in the second half of the year.For a long-term look at the labor force participation rate, check out this graph from Calculated Risk.
Jan 11, 2010 10:28 AM
Larry Kudlow says the stimulus approach isn't working.
In light of all the tax-and-regulatory threats, it’s too expensive to hire right now. So get rid of all the so-called stimulus plans and social policies to transform the government’s relation to the private economy. Remove these obstacles.
Jan 11, 2010 9:15 AM