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| November 9, 2009 | |||||||||||||||||||||||||||||
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FROM THE BLS THE EMPLOYMENT SITUATION -- OCTOBER 2009 The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in con- struction, manufacturing, and retail trade. Household Survey Data In October, the number of unemployed persons increased by 558,000 to 15.7 million. The unemployment rate rose by 0.4 percentage point to 10.2 percent, the highest rate since April 1983. Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points. (See table A-1.) Among the major worker groups, the unemployment rates for adult men (10.7 per- cent) and whites (9.5 percent) rose in October. The jobless rates for adult women (8.1 percent), teenagers (27.6 percent), blacks (15.7 percent), and Hispanics (13.1 percent) were little changed over the month. The unemployment rate for Asians was 7.5 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.) (Entire Report and Charts) IN THE NEWS The Newman Group and the Human Capital Institute announce the recent publication of their book, "Talent Management Technologies, A Buyers Guide to New, Innovative Solutions." The book is written for human resource executives charged with selecting and implementing technology solutions to support their talent management function. Research and Markets announced the addition of the "Global Digital Economy - E-Commerce & M-Commerce Trends & Statistics" report to their offering. Liuna comments on Unemployment report confirming that in the U.S. job market, the hardest hit sector continues to be the construction industry, a key driver of our economy. Business Wire Retail Report on October 2009 Retail Sales Figures available. JOB CREATION & THE STIMULUS PACKAGE... INPUT, the leading authority on government business, announced an updated Report Card grading the Obama Administration on its execution of stimulus package objectives for the American Recovery and Reinvestment Act (ARRA) of 2009. The new grades were issued based on the release of the much anticipated recipient reports required by the ARRA. They cover four key recovery areas: Speed of Spending, Job Creation, Transparency & Reporting, and Contracting Effectiveness.
INPUT Assessment President Obama promised 3.5 million to 4.0 million jobs would be created or saved with the passage of the Recovery Act. While the recently released recipient reports put that number at 640,329 eight months after enactment, the unemployment rate has continued to rise. The Bureau of Labor Statistics reported that the September unemployment rate was 9.8%, 2.6 million people have lost their jobs since March, and 512,000 unemployment claims were filed in the week ending October 31, 2009. Because the majority of stimulus appropriations were earmarked for specific federal assistance programs with pre-existing funding disbursement formulas, the majority of the money outlaid to date is not going to the areas of the country with the highest unemployment. The Recovery Act is using a "scattershot" approach to job creation instead of a "rifle shot" approach. (read more) AND THE WINNERS ARE ... Fortune Magazine's "100 BEST COMPANIES TO WORK FOR" Even in this economy, some companies are going out of their way to please employees. This year, there's a new no. 1, as Google slips to no. 4. See detailed profiles of the top 100 employers, including interactive maps, key perks, contact information, and more.
2. Edward Jones 3. Boston Consulting 4. Google 5. Wegmans 6. Cisco 7. Genentech 8. Methodist Hospital 9. Goldman Sachs 10. Nugget Market See all 100. The Human Brain In The Workplace The modern workplace is an emotionally charged landscape of constant threats and unconscious fears that can addle or even destroy our brainpower, according to three recent books on neuroscience. The flow of brain chemicals triggered by common workplace experiences -- feedback session, anyone? -- can erode our ability to think straight, harming productivity and diminishing our capacity to solve problems or work well with others. (read more) JUST FOR FUN Dickies, the innovative work and lifestyle apparel brand, awarded Michael McGee $1,000,000 for randomly selecting the Dickies 500 champion, part of his prize package as the winner of the 17th annual Dickies American Worker of the Year contest. Permalink . -. Today's In depth News . -. Send To a Friend . -. Feedback
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