Archive for the 'Jobs' Category

World oil price hits new high

Published by
Gene Shinai
May 6, 2008 in Energy, Jobs, Newz and The Markets. 0 Comments

From AFP Via Rawstory:

World oil reached a new record price near 121 dollars a barrel as concerns over the United States economy eased, analysts said Tuesday.

New York’s main oil futures contract, light sweet crude for June delivery, reached an all-time high of 120.93 dollars a barrel during Asian hours before dropping back in late afternoon trade when it was three cents lower at 119.94 dollars a barrel.

The contract crashed through the symbolic 120-dollar ceiling for the first time on Monday and closed at a record 119.97 dollars on the New York Mercantile Exchange.

Brent North Sea crude for June delivery was 24 cents higher at 118.23 dollars a barrel, after settling at a record 117.99 dollars on Monday in London. The contract had earlier hit an intra-day high of 118.58 dollars.

Oil futures prices on both sides of the Atlantic have nearly doubled in a year and have continued to soar since the benchmark New York contract broke through 100 dollars at the start of 2008.

Latest US economic data have given oil prices a fresh boost, said Victor Shum, senior principal at Purvin and Gertz energy consultancy in Singapore.

On Monday, the Institute of Supply Management said its index for the vast US service sector rose to 52 percent in April, above the level of 50 that means expansion, and better than expected by private analysts.

That report followed official data on Friday which showed that the US economy shed 20,000 jobs in April, far fewer than the 75,000 expected by the market.

 

Article Continues @ Sourced Site.

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U.S. Unemployment Benefit Rolls Climb to 4-Year High

Published by
elophan
May 1, 2008 in Economy, Jobs and Newz. 0 Comments

By Courtney Schlisserman, Bloomberg

May 1 (Bloomberg) — The number of Americans receiving unemployment insurance climbed to a four-year high, a sign of a weakening labor market as employers remain reluctant to hire. First-time claims for jobless benefits also rose.

The total number of people getting assistance increased to 3.019 million, the most since April 2004, in the week ended April 19, the Labor Department said today in Washington. Initial claims increased by 35,000 to a four-week high of 380,000 in the week ended April 26.

Companies are firing staff as the worst housing recession in more than a quarter century reduces home prices, and slows consumer spending and business investment. The department tomorrow may report the U.S. lost jobs for a fourth straight month in April, according to a Bloomberg News survey of economists.

Initial jobless claims were forecast to increase to 365,000 from a previously reported 342,000 in the prior week, according to the median projection of 35 economists in a Bloomberg survey. Estimates ranged from 340,000 to 375,000.

Employers cut 75,000 jobs in April, according to economists surveyed by Bloomberg. That would bring the total number of reductions this year before revisions to 307,000, the most since 2003. More…

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Tech Company Illegally Fires Cal Poly Student Workers for Unionizing

Published by
Gene Shinai
April 20, 2008 in Education, Government, Jobs, Labor, Newz, The Internet and sci-tech. 0 Comments

From LA IndyMedia by Cal Poly Community Activist Wednesday, Apr. 16, 2008 at 1:10 AM marginalized.student.workers@gmail.com

Pomona, Calif - After being subjected an unannounced pay cut from $10/hr to $8/hr, Cal Poly student marketing representatives Austin Garrido and Sarah Doolittle were fired by their employer, Uloop.com, for attempting to organize a worker’s union. The students were fired from their part-time jobs 20 minutes after posting a message in an online inter-company form announcing their intention to form a union. Doolittle and Garrido have filed charges with the National Labor Relations Board. 

 

“My job with Uloop supported my education”, said Sarah Doolittle, a former Uloop student rep. “It’s disappointing that Austin and I were fired for choosing to exercise our legal right to form a union.”

 

According to the National Labor Relations Board’s website: “The NLRA [The National Labor Relations Act of 1935] forbids employers from interfering with, restraining, or coercing employees in the exercise of rights relating to organizing, forming, joining or assisting a labor organization for collective bargaining purposes, or engaging in protected concerted activities, or refraining from any such activity.”

 

Uloop.com is an online marketplace for college students currently operating in 50 campuses across America. The website hires two student representatives at each University who are in charge of promoting the site to fellow students.

“How can a company that caters to students, treat its own student workers so poorly?”, asked Austin Garrido, a former Uloop student rep. “You would expect better from a Silicon Valley high-tech company.” 

 

Article Continues @ Sourced Site.

  

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Jobless Claims Hit Highest Level in Four Years

Published by
elophan
April 17, 2008 in Economy, Jobs and Newz. 0 Comments

By MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON - The number of newly laid off workers filing claims for unemployment benefits increased last week after a big decline in the previous week.

The Labor Department said Thursday that applications for unemployment benefits rose to 372,000, an increase of 17,000 from the previous week.

The four-week average for claims was 376,000, down only slightly from 376,750, the previous week. Aside from the period in the fall of 2005 after Hurricane Katrina hit, the four-week average for claims has risen to levels last seen in 2003 when the country was mired in a long jobless recovery after the 2001 recession.

Claims have been unusually volatile in recent weeks, falling by 51,000 two weeks ago after having risen by 35,000 the week before that. Analysts said that claims have been difficult to read because of trouble the government is having adjusting the figures for seasonal changes to reflect this year’s unusually early Easter and also because of the impact of a strike at a key parts supplier for General Motors.

The unemployment rate jumped to 5.1 percent in March as businesses cut 80,000 jobs, the biggest drop in payrolls in five years. Many economists believe that was the most dramatic indication to date that the country has fallen into a recession.

In another sign of labor market weakness, the total number of people receiving unemployment benefits rose to 2.98 million for the week ending April 5, up 26,000 from the previous week and the largest amount in nearly four years. More…

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House Panel Approves Extension of Unemployment Benefits

Published by
elophan
April 17, 2008 in Economy, Jobs, Newz and The Congress. 11 Comments

Reporting by Donna Smith

WASHINGTON (Reuters) - Legislation that would give unemployed workers an additional 13 weeks of jobless benefits advanced in the U.S. House of Representatives on Wednesday.

The House Ways and Means Committee passed the legislation over the objections of some Republicans who pushed for a more limited bill that would have extended jobless benefits only for workers in high unemployment states like Michigan.

The bill, passed on a vote of 23-13, would allow an additional 13 weeks of benefits beyond the 26 weeks offered by most states. The unemployed in states with high jobless rates would get another 13 weeks.

The Congressional Budget Office estimates that about 3.5 million jobless Americans will run out of benefits before finding another job this year.

The sluggish economy has become a major issue in the presidential campaign and the jobless benefits bill might be attached to a $100 billion Iraq and Afghanistan war spending bill sought by Bush. More…

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Job losses worst in 5 years, unemployment nears 3-year high

Published by
elophan
April 4, 2008 in Economy, Jobs, Newz and The Executive Branch. 0 Comments

By Chris Isidore, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — U.S. employers slashed jobs for the third straight month in March and unemployment rose to a nearly three-year high, offering the latest signs that the economy has fallen into a recession.

The Labor Department’s much anticipated report, released Friday, showed a net loss of 80,000 jobs last month. That marks the third straight month that jobs have fallen - the longest period of decline since early 2003.

Economists surveyed by Briefing.com had forecast that payrolls would fall by 50,000 in the latest reading.

The new report also pegged job losses in January and February at 76,000 each month.

Those revisions added an additional 67,000 job losses to previous readings. The Labor Department now estimates that the economy has shed 232,000 jobs in the first three months of this year.

The job losses were widespread, with the battered construction sector losing 51,000 jobs and manufacturing employment falling by 48,000. But there were also losses in key service sector industries. Retail employment dropped by 12,000 jobs, and business and professional service employers cut staff by 35,000.

The unemployment rate jumped to 5.1% from 4.8% in February. The new reading is the highest level since September 2005 in the wake of Hurricane Katrina. Economists had forecast that unemployment would rise to 5%. More…

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Supplier moves to hire as workers picket

Published by
Gene Shinai
March 31, 2008 in Business/Finance, In Defense of Democracy, Jobs, Labor and Newz. 0 Comments

From the Detroit Free Press (freep.com)

Nearly five weeks into the UAW strike at American Axle & Manufacturing Inc., the company is hiring workers at four plants in New York and Michigan that are subject to the work stoppage, to replace striking workers and for future positions at the auto supplier.

In an ad found on The Oakland Press’ Web site, the company said it seeks candidates for production and skilled trade positions.

After noting the strike, the ad reads: “Employment offered to applicants responding to this advertisement will be to fill anticipated attrition replacement openings after negotiations or in place of employees involved in this strike.”

The ad does not list compensation rates for the positions or a start date, but notes that the company seeks to fill full-time positions for three shifts and that those hired would receive benefits after “a certain period of regular employment.”

Article Continues @ Sourced Site.

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