Category: Employment

After the release of private sector hiring statistics, investors reacted positively by pouring in money into the market. Stocks, on Wednesday, closed on a higher quote. Dow Jones Industrial Average increased by 44 points or 0.4%. S&P 500 index also gained 0.6 % by climbing 7 points. And NASDAQ added 0.9% or 20 points. The major reason of rise was surprising improvement in private sector payroll statistics. People are now awaiting a major report to be released by Labor Department on Friday. Besides, the industry report says there has been growth in the service sector for the seventh month in a row now. The pace of employment and recovery is modest. However, we are sure of one thing: at least the pace is being maintained. Corporate companies have been showing a decent profit for two months, and it is helping the economy to relocate its position to a better place. However, weak  [...]

Many economists claim we are on the path on recovery, and the GDP will soon be high. The unemployment rate, however, is not dropping a bit. If it would have been recovery, most companies should have started hiring, at least the ones who were downsized. But the daunting trend seems to continue. Wells Fargo is about to cut 3,800 jobs and close down 638 stores in the financial division; the company announced on Wednesday. In fact, if this happens, the company may close down its consumer finance division, which offered non-prime loans to homebuyers. They will downsize around 2,800 employees in next couple of months, and the other 1,000 jobs would be cut within next 12 months. The need for separate financial division was eliminated when the company merged with Wachovia in 2008. However, they aren't doing too well since they have had their own division. The President of Well Fargo Financial,  [...]

It seems like the US Department of Labor, or DOL, is being quite stringent with mid and large sized companies. If you follow the statistics closely, you will notice DOL is quite active with its audits since past few years, which is definitely not surprising. The agenda was clear when they derived their major goals in DOL 2011 Strategic Plan: Having workplace with safety and security Having a prepared and competitive workforce The walls of economic protection should be strengthened Their focus on having secure and safe workplace means ensuring the labors and employees are provided with proper wages, safety measures, equal opportunities to each of them, clean work environment, and all legal rights. The US Department of Labor is quite large. It has around 27 divisions with their respective rights and functions. Last year, they added over 300 field investigators under American  [...]

I can confirm that we are on your path to recovery by looking at the data revealed by BLS – employment up in March. However, is it possible to say ‘this is the end of recession’ just by looking at the employment trend? Improvement in an economy is marked by two important things – employment and output, which are moving not quite as required, but yes, they are positive. Experts argue, these two factors too are cannot determine the improvement in the economy. During the recovery phase back in Nov 2001, the output trend performed much better than employment curve. If people would have depended on employment data, recession would have lasted till Nov 2004. But if you have looked at the GDP then, you would wonder if there was any recession at all. This time, however, the dilemma is not so intricate. GDP has risen and so has the economy rate (though a bit), which can be a strong indicator  [...]

Green jobs is a phrase which has been made famous by President Obama. As per research done by Pew Charitable Trusts in June approximately 0.5% of the total job market that is around 770,000 jobs were green jobs. Compare this against the number of jobs created in other established industries like telecommunications where 989,000 jobs were created and biotech where 200,000 jobs were created and one clearly gets the idea that green jobs will be the next big thing in the job market. Also this is one segment of the job market that is experiencing fast growth. Green jobs are estimated to grow by 9.1% as against 3.7% growth projected for all jobs. As per placement company Challenger Gray & Christmas, the economy is already generating approximately 1.3 million new green collar jobs every year. American Solar Energy Society estimates that by 2030 there would be 40 million US jobs directly or indirectly  [...]

The purpose of life For many of us our professional life is an integral part of our identity and existence. A simple manifestation of this is when we meet people for the first time we tell them what we do and where we work. Working gives a meaning to life and for some people even a reason to live. After retirement many people lose the purpose of living and they feel they are useless to the society. They lose the tempo to get up in the morning and do something effective. According to a recent Sun Life Financial and Interviewing Service of America survey on the reason to continue working after 67, 84% of the people surveyed feel that it is for money but a huge 81% also feel that it is for staying active mentally and 65% feel that they work because they enjoy working. Your social life Social life for many of us is at work be it attending office parties or having lunch with colleagues. After  [...]

At the outset the idea of retired life looks attractive to all. After all who wants to go through the daily tough commute to reach office or sit those late hours at office and tolerate that irritating boss. But then think about the positive things these say 20years at work has given you like those great friends that you made at work or the fun of having a daily routine in place. Then there are also financial incentives associated with the delayed retirement.  Also experts feel that working keeps you healthy and fit. Below are few important factors that will make you rethink about your retirement again. Getting a job again Before taking that big decision to retire please consider the fact that once you have left the job it would be almost impossible to get another employment again particularly in the current bleak economic scenario where jobs are scarce. So we suggest that if you are retiring  [...]

Mathematician Mathematicians find jobs in many fields ranging from risk management in banks and financial firms, in engineering firms and in budget analysis. Majority of mathematicians however take up teaching which as discussed in the earlier sector is considered to be one of the best jobs in terms of job security, benefits and work/life balance.  This skill set is in great demand and there are abundant openings. Also the profession ranks high in terms of low stress and good salary (median annual pay is $62,804). Demand for this skill set is there in almost all industries. Mathematicians can also find openings in many industries like video-game development and health care or fit in the role of statistical analysts for companies. Almost all sorts of government agencies and the military need mathematicians. Also this is one skill set where the supply is not enough to meet the demand  [...]

Nutritionist This is another profession which is in focus thanks to an aging population and the increasing attention being given to obesity and other diseases resulting from poor diet and no exercise. There are a wide variety of employment options in this field. One can work full time at a hospital, school or community centre or just do private practice. This is also one of the least stressful profession. The pay packet typically starts with $50,000 a year and up. First timers to health-care field will need a formal four-year degree in nutrition to get a decent job. Though it is a fairly new field most universities with a health-care curriculum offer such a degree. For people who have been in the health care industry for some time say a nurse or a technician can find work as a nutritionist with very little amount of coursework. Physical Therapist Again a profession which will only  [...]

Police and related departments Recession does not mean that there is a recession for crime which continues to be quite high. Yes there has been decline in hiring however hiring is expected to pick up soon. There are plenty of opportunities for candidates particularly for those with a four-year degree. At state and federal level the competition is a little tough. No doubt the job is dangerous but then the enforcement is in your hand. The job has no competition in terms of job security and benefits. A police officer in San Francisco can start with a salary of between $78,000 and $104,000 a year and is eligible to retire at age of 50 with a pension equal to 90% of a final year's pay. Add to this are benefits like  health insurance and retirement plans which are definitely top notch in comparison to other jobs. For people who have served in the military, there are additional benefits, like  [...]