Archive for the ‘Uncategorized’ Category
Thursday, April 7th, 2011
From Providence Business News: ”The unemployment rate in the Providence-Fall River-Warwick metropolitan area declined in February to 12.1 percent of the labor force from 12.9 percent as seen in the same month a year earlier.
According to nonseasonally adjusted data released on Wednesday by the U.S. Bureau of Labor Statistics, the number of unemployed workers dropped to 85,700 last month from 91,800 a year earlier.
Nevertheless, when comparing the jobless rate to January, the Providence metro area added 1 percentage point.
Rhode Island’s nonseasonally adjusted jobless rate was 11.8 percent in February, down from 12.6 percent in 2010. On a national level, the rate was 9.5 percent last month, down from 10.4 percent a year earlier.” To see the full article click here!
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Wednesday, April 6th, 2011
The US Department of Labor reported that U.S. unemployment fell to a two-year low last month, adding 216,000 new jobs. The unemployment rate fell to 8.8 percent in the month of March from 8.9 percent in February. While national unemployment is beginning to decline, long term unemployment did rise from 43.8 percent to 45 percent. Also, chief economist of Wells Fargo, John E. Silva said that the gains will primarily benefit highly skilled workers and will not have a major impact on less skilled workers.
Regardless, these national employment trends look promising for the job market in Massachusetts. Some of the state’s key industries, such as health care and technology services, showed increases in jobs nationally. Massachusetts businesses are noticing significant increases in job openings across several different industries, including the financial and technology industries.
Massachusetts has not yet reported the March unemployment statistics; however the February unemployment rate was 8.2 percent, better than the national average of 8.9 percent. While the economy is still only in the beginning stages of recovery, recent jobs increases are a positive sign for Massachusetts and we hope to see the improvements continue.
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Wednesday, April 6th, 2011
From the Boston Globe: ”Massachusetts employers appear to be gaining confidence in the economic recovery, but a surprising number are also reporting trouble finding qualified candidates to fill job openings.
Associated Industries of Massachusetts’ monthly Business Confidence Index rose 2.8 points in March to stand at 54.0. The index works on a 100-point scale with any reading above 50 indicating more optimism than pessimism about business conditions.
AIM says 52 percent of employers answered “yes” when asked if — despite continued high unemployment — they were having trouble finding qualified job applicants. In some cases, employers said some applicants lacked the technical skills for a job while others possessed the technical skills but were lacking when it came to other relevant skills.” To see the article click here!
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Tuesday, April 5th, 2011
From the Providence Journal: ”A financial services company plans to shut down its operation in Pawtucket later this year, and the city’s economy will lose about 330 jobs as a result.
Bank of New York Mellon Corp., of New York, sometimes called BNY Mellon, will move its operation from Pawtucket to another of its locations about 40 miles away, in Westboro, Mass.
BNY Mellon offered jobs in Westboro to all the Pawtucket staff, company spokesman Joseph F. Ailinger Jr. said. About two-thirds of them accepted the offer, opting to re “We understand this choice [to relocate] is not feasible for everyone, and so those unable to relocate will be provided a severance option,” the company said in a statement. “To ensure no disruption for our clients, employees will be transitioned from the Pawtucket facility in phases to be completed by early fall.”
The layoffs come as Rhode Island continues to struggle with high unemployment. The state has had a double-digit jobless rate for 24 consecutive months. The state’s jobless rate was 11.2 percent last month, fourth-highest in the nation, federal figures show. More than 64,000 Rhode Islanders were officially counted as unemployed.” To see the full article click here!
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Monday, April 4th, 2011
From the Boston Globe: ”US employers added jobs for the sixth straight month and the national unemployment rate fell to a two-year low in March, providing more evidence of an advancing economic recovery, the US Labor Department reported yesterday.
The solid job gains and slight reduction in the unemployment rate surprised some economists who have worried that the unfolding disaster in Japan and unrest in the oil-producing Middle East could slow the recovery.
“Gas and food costs are squeezing people’s spending power, and, no question, that’s hurting,” said IHS Global Insight’s chief US economist, Nigel Gault.
“But the employment data suggest that the labor market actually had some good momentum and we’re in a better place to withstand those shocks than we thought.” To see the full article click here!
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Friday, April 1st, 2011
From the New Haven Register: “AT&T has committed to hiring 109 employees for its Connecticut work force in the coming months, the head of the union representing the company’s state workers said Thursday.
William Henderson, president of Local 1298 of the Communication Workers of America, said the company’s commitment to the union is “evidence they are looking to foster a new working relationship with us.”
The bulk of the jobs will be for installers of the company’s U-verse television service and high-speed Internet; the company is also hiring 37 cable splicers who handle phone repairs for land-line service, Henderson said.
“We told them that it has always been about keeping good jobs in Connecticut; that has always been our issue,” Henderson said. “And so they said they were going to return (U-verse) installers they had brought in from Ohio to do the work.”
Chuck Coursey, an AT&T spokesman, confirmed the job increases in Connecticut and said the company will have more details on the positions in the coming weeks.
The increase in AT&T’s Connecticut work force comes as the company is being scrutinized at the state and national level because of its proposed merger with T-Mobile.
The timing of AT&T’s decision to add workers is not lost on Henderson, who said the company is looking to create some good will in Connecticut with the new jobs.” To see the full article click here!
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Friday, April 1st, 2011
From the New Haven Register: “AT&T has committed to hiring 109 employees for its Connecticut work force in the coming months, the head of the union representing the company’s state workers said Thursday.
William Henderson, president of Local 1298 of the Communication Workers of America, said the company’s commitment to the union is “evidence they are looking to foster a new working relationship with us.”
The bulk of the jobs will be for installers of the company’s U-verse television service and high-speed Internet; the company is also hiring 37 cable splicers who handle phone repairs for land-line service, Henderson said.
“We told them that it has always been about keeping good jobs in Connecticut; that has always been our issue,” Henderson said. “And so they said they were going to return (U-verse) installers they had brought in from Ohio to do the work.”
Chuck Coursey, an AT&T spokesman, confirmed the job increases in Connecticut and said the company will have more details on the positions in the coming weeks.
The increase in AT&T’s Connecticut work force comes as the company is being scrutinized at the state and national level because of its proposed merger with T-Mobile.
The timing of AT&T’s decision to add workers is not lost on Henderson, who said the company is looking to create some good will in Connecticut with the new jobs.” To see the full article click here!
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Wednesday, March 30th, 2011
Connecticut state officials continue to focus a great deal of their attention on innovation and job growth in the state. Governor Malloy spoke on the topic to the Hamden Chamber of Commerce this week. Malloy noted that the state is one of only two to have not grown jobs in the past 22 years due to failure to make investments that other states have.
Malloy is making moves to change the pattern of lackluster job growth by setting out a plan to make Connecticut a more appealing place for businesses. The “First Five” program will give incentives to the first five businesses that will create 200 or more jobs. Malloy hopes to extend this program from the first five to the first fifty businesses.
Catherine Smith, the new commissioner of the Department of Economic and Community Development, reiterated Gov. Malloy’s pro-business sentiments and highlighted three key elements to improving business when she spoke to the Chamber of Commerce of Eastern Connecticut last week. The first was “to be more friendly to existing businesses in the state, and make sure the environment is right for growing those businesses.” The second is promoting “innovation and allowing start-ups to get a foothold in Connecticut”. Finally, the state must improve the way it does business with businesses.
Smith noted the importance of getting Connecticut on the map for business and of taking advantage of the expertise of the state’s people. This is particularly important for spurring innovation in the state. Connecticut must make itself an appealing enough place for the state’s talent to wish to remain there.
We applaud the Governor and DECD Commissioner for their commitment to creating jobs in Connecticut. We hope that this will only be the beginning of the Connecticut’s actions to turn the state into a more business-friendly place where innovation can drive a prosperous economy.
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Wednesday, March 30th, 2011
Connecticut state officials continue to focus a great deal of their attention on innovation and job growth in the state. Governor Malloy spoke on the topic to the Hamden Chamber of Commerce this week. Malloy noted that the state is one of only two to have not grown jobs in the past 22 years due to failure to make investments that other states have.
Malloy is making moves to change the pattern of lackluster job growth by setting out a plan to make Connecticut a more appealing place for businesses. The “First Five” program will give incentives to the first five businesses that will create 200 or more jobs. Malloy hopes to extend this program from the first five to the first fifty businesses.
Catherine Smith, the new commissioner of the Department of Economic and Community Development, reiterated Gov. Malloy’s pro-business sentiments and highlighted three key elements to improving business when she spoke to the Chamber of Commerce of Eastern Connecticut last week. The first was “to be more friendly to existing businesses in the state, and make sure the environment is right for growing those businesses.” The second is promoting “innovation and allowing start-ups to get a foothold in Connecticut”. Finally, the state must improve the way it does business with businesses.
Smith noted the importance of getting Connecticut on the map for business and of taking advantage of the expertise of the state’s people. This is particularly important for spurring innovation in the state. Connecticut must make itself an appealing enough place for the state’s talent to wish to remain there.
We applaud the Governor and DECD Commissioner for their commitment to creating jobs in Connecticut. We hope that this will only be the beginning of the Connecticut’s actions to turn the state into a more business-friendly place where innovation can drive a prosperous economy.
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Wednesday, March 30th, 2011
From Hamden Patch: ”Local insurance agency owner Yvonne Sourragh, like many others dealing with the brutal economy, has been forced to go with a higher deductible in her personal insurance plan in order to make ends meet.
Sourragh, who owns Insurance Benefit Solutions, said it’s what she had to do “to face reality” and control her bottom line. That’s why she posed a question to Gov. Dannel P. Malloy Tuesday, asking if government employees would consider doing the same.
Malloy addressed the Hamden Chamber of Commerce during a luncheon held at The Cascade, apprising the 200 or so people in attendance about his efforts to improve the business climate in Connecticut.” To see the full article click here!
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