Archive for July, 2010

Mass. announces second-quarter stimulus jobs

Friday, July 30th, 2010

We were pleased to see the Patrick administration today that in the second quarter, Federal stimulus money has funded the equivalent of more than 10,000 full-time positions in Massachusetts, which is an increase of 57 percent over last quarter. The state said its number refers only to stimulus awards granted directly to state government agencies.

The state claims that a total of 27,044 individuals – part-time as well as full-time – received paychecks thanks to stimulus funds. Since the stimulus program began in February 2009, more than 41,830 individuals in Massachusetts have received at least one paycheck funded by the federal stimulus.

The economy is not yet where we’d like it to be, but these steps taken along the way can help the area’s unemployed have stability as they search for work, and will help push the economy one step closer to recovery.

Despite High Unemployment, Some Jobs Still In Demand

Thursday, July 29th, 2010

YourPublicMedia.org

The marketplace remains tough for many job seekers, even as the recovery continues. But hiring experts report that some positions are high demand. WNPR’s Harriet Jones has the story.

With a 9.5% unemployment rate nationally, and 8.9% in Connecticut, you might assume that hiring employers can take their pick of available talent. But according to the Bureau of Labor Statistics, companies are having a hard time attracting and retaining workers in several key fields. Many of these positions relate to saving costs during tough times – top of the list are budget analysts, who are experiencing just a 0.7% unemployment rate. Just 2.5% of database administrators are looking for work, while for accountants and auditors the figure is 4.2%. Jason Witty of Robert Half International in Connecticut says the economy is changing the way companies hire.

“Companies are really going to have to reinvent themselves, you know, how can we change and run more effectively and leaner, and financially sound, and how do we do more with less? There are certain positions that tie directly to that effort. Specifically financial analysts, budget analysts and accountants are people that are still needed within firms. Whether their numbers are in the black or the red, the books still need to be done.”

Witty says in Connecticut hedge funds and other financial services companies appear to be coming back strongly in recent months, and more companies are also taking on sales staff, in order to take advantage of any recovery in consumer spending.

Credit cards create jobs, survey claims

Wednesday, July 14th, 2010

Boston.com

Nearly 40,000 jobs were directly and indirectly created in Massachusetts as a result of credit card borrowing by small businesses between 2003 and 2008, according to a study conducted on behalf of the American Bankers Association and released by Keybridge Research, an international economics and public policy consulting firm.

“The study further notes that any reduction in access to credit cards results in a corresponding drop in the ability of small businesses to hire new employees,” Keybridge said in a press release.

One survey claim: “The expansion of credit card lending to small businesses from 2003 to 2008 contributed directly to the creation of 592,000 small business jobs, and an additional 1 million indirect or induced jobs throughout the US economy, for a total beneficial impact of approximately 1.6 million jobs.”

Boston Governor Finds Funds to Employ Youth

Wednesday, July 14th, 2010

It’s no secret that most people are getting hit hard by the recession, but we tend to forget about how it is affecting the nation’s youth and their ability to find employment. Although the economy cannot change overnight, we were pleased to see that the Patrick administration is making an effort to increase opportunities for employment for New England’s young folks.

The full article, which can be found here, states that the administration will provide $9.1 million to put about 4,700 at-risk youth to work. Joanne Goldstein, secretary of labor and workforce development, said $3.5 million will come from the new fiscal 2011 budget, $3.8 million from reserve funding in last year’s budget, and $1.8 million from federal stimulus money from previously years.

The money will go to 25 municipalities with the greatest number of youths who have gone through the juvenile justice system. Eligible individuals, state officials say, must be 14 to 21 years old and come from families whose household incomes fall below the poverty line, which is about $18,000 for a family of four.

Although about 1,400 of the total jobs are slated for Boston, other cities receiving funding include Brockton, Cambridge, Chelsea, Chicopee, Fall River, Fitchburg, Framingham, Gardner, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, New Bedford, Pittsfield, Quincy, Randolph, Salem, Springfield, Taunton, Weymouth, and Worcester.

Lew Finfer, a leader of the Youth Jobs Coalition, (which has been pressing the state on the job issue) says the job market is stagnant, especially for teens.

“For teens, this not a recession” he said. It’s a depression in terms of their ability to get jobs.’’
With no help from the federal government this year, Patrick decided to begin using money that was allocated for summer jobs in the fiscal 2011 budget, which is making the area’s youth happy.

Daiquan Bradford, a 16-year-old from Roxbury who helped press for more funding, said he was pleased that the state listened to their appeals and found more cash for summer jobs.

“It’s a good thing, because we’ve been very persistent in our fight,’’ he said. “It is nice to know that we got some recognition for our hard work.”