Eurozone Unemployment at Record 12 Percent
(LONDON) — Unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999, official figures showed Tuesday. Eurostat, the E.U.’s statistics office, said the rate in February was unchanged at the record high after January’s figure was revised up to 12 percent from 11.9 percent. (MORE: Europe’s Crisis Measures Are Working…Sort Of) Over the month, a net 33,000 people in the eurozone joined the ranks of the unemployed. Spain and Greece continued to suffer from unemployment rates above 26 percent, and many other countries were seeing their numbers swell to uncomfortable levels. It’s not all doom and gloom. Germany, Europe’s biggest economy, has an unemployment rate of only 5.4 percent. That’s even better than the U.S. rate of 7.7 percent. The February figures came before the recent Cyprus crisis, which has reignited concerns over the future of the euro. Under the terms of its bailout, big depositors ...
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Fed Survey: U.S. Economy Growing Throughout Country
(WASHINGTON) — Strong auto sales, hiring gains and a continued housing recovery helped the U.S. economy grow throughout the country in January and February, according to a survey released Wednesday by the Federal Reserve. The Fed says 10 of its 12 banking districts reported moderate or modest growth, while Boston and Chicago districts reported slow growth. Consumer spending increased in most regions, although growth slowed in many districts and much of the increases were driven by auto sales. Many districts said that consumers pulled back slightly on spending outside of autos after seeing taxes rise and gas prices increase. Some also expressed concerns about federal spending cuts that started on March 1. Housing markets showed more strength in nearly all parts of the country, while manufacturing showed modest improvements in most regions. And most districts reported some improvement in individual jobs markets. (MORE: Fed Survey: US Economy Picked Up at End of Year) The report, called the ...
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Can Community Colleges Put Americans Back to Work?
Community colleges have long played a key role as an entryway to better career opportunities for adults in the workforce. But with the job market more competitive than ever and the unemployment rate stubbornly stuck near 8%, community colleges across the country are launching new initiatives that are more aggressive in helping unemployed Americans find jobs. The U.S. Department of Labor is pouring $2 billion into community college job retraining courses across the United States as part its Trade Adjustment Assistance program, which provides a variety of resources to unemployed individuals seeking new work. The money, administered in $500 million increments between 2011 and 2014, is being awarded to community colleges to develop programs to quickly teach workers new skills and establish relationships with businesses that have job openings. Pennsylvania, which received one of the largest initial grants at $20 million, recently launched JobTrak PA, a collaborative effort between 14 of the state’s ...
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Is technology to blame for chronic unemployment?
Wednesday, October 10, 2012 - 12:31 John Moore/Getty Images Job applicants wait to meet potential employers at the NYC Startup Job Fair held at 7 World Trade Center on September 28, 2012 in New York City. Most of us assume that at some point the economy is going to kick into gear. That unemployment will eventually drop below 6 percent, and that job creation will return to its previous clip of 200,000 a month. But what if we're stuck at a new normal of high unemployment and low job growth? It's possible because technology might just have gotten the best of us. It used to be that new technologies generated lots of new jobs for those displaced from old ones. After farms were mechanized, Americans moved to factories. After manufacturing declined -- in part due to technologies that dramatically cut the cost of shipping goods -- we moved into services. But new technologies have been eating away at services, too. Gas station attendants are long gone and telephone operators and bank tellers aren't ...
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The employers behind September's job numbers
Friday, October 5, 2012 - 13:01 Aaron Schrank Phelps, an LA-based marketing and communications firm, is hiring but the company says it is having trouble finding workers with the right skills. The September unemployment rate fell for the right reason, for a change: More people are seeking work and finding it. Students from the Annenberg School of Journalism profile four California companies that are hiring highly skilled workers. Here are their stories: Profile: Ramping up but hard finding the right skills Cornerstone OnDemand, a publicly traded company, provides talent-management, learning, and performance-management software that helps companies manage their workforce. Its clients include Starwood Hotels and Resorts, The Neiman Marcus Group and Turner Broadcasting. Company: Cornerstone OnDemand Inc. Location: Santa Monica, California Industry: Information technology Annual revenue: $ 75.5 million (2011) 2008 workforce: 152 Current workforce: more than 650 The company’s workforce has ...
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