Tag Archives: jobs

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Dell Computer founder says the U.S. is no longer the land of opportunity. Go west young man, to China

“I would go to China at age 19 and start my company there. It’s a much better environment.”-Michael Dell

That’s what founder and CEO of Dell computers reportedly told PBS interviewer Charlie Rose, after being asked about doing things over.

Like Steve Jobs, Michael Dell is a college drop out, who went on to build a successful computer company.  Dell is the number two computer company in the U.S., Apple is third.

It’s not a good sign when the founder of the number two computer maker in the U.S. says the new generation of entrepreneurs should move to China.

 

 

 

 

Business/Economics, International, Technology, U.S.

Steve Jobs resigns, Apple Board rushing to bring in replacment

“I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.”-Steve Jobs

Co-founder of Apple, Steve Jobs, has been fighting cancer, and now he has resigned.  No confirmation if it’s due to his health.

Tim Cook has already been picked to replace Jobs, and the board of Apple is rushing to get Cook into the CEO position.

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s May employment performance, by sector

Payrolls for Idaho’s manufacturing sector remain stuck at 1991 levels, for the 6th month in a row.

Total construction employment for May was at 1994 levels.

Idaho’s business services sector remained constant, for the third year in a row.

The health care sector created jobs in May, but at only half the pace of the past five years.

The retail sector actually added jobs, surprising some Idaho analysts.

Employment agencies also added jobs.

Overall, most sectors are stuck in 1990s employment/payroll levels.

Source: Idaho Department of Labor

 

 

 

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s Unemployment rate goes down, but not because of job creation

The Idaho Department of Labor reported a slight drop in Idaho’s unemployment, now at 9.4%, but they also reported a drop in job creation.

The Department of Labor says seasonal hiring for May was below normal levels, and that job creation was weak.  So why the drop in the unemployment rate?  Officials say it’s due to workers retiring, workers dieing, and unemployed people who have stopped looking for work!

Idaho labor officials say that so far 2011 is lagging behind 2010, when it comes to job creation.

 

Business/Economics, International, U.S.

What Economic Recovery? The U.S. was lagging behind Europe even before the Credit Crisis

Before the 2007-08 Credit Crunch Crisis the United States was far behind the European Union, when it came to new job creation.

According to a Fortune article, from 1999 to 2008 the EU created 14 million new jobs, while the U.S. created 8 million.

On top of that, once the economy started down the drain the United States lost more jobs than were lost in the EU.  Percentage wise the EU and U.S. are around 9% unemployment (officially, unofficially the percentages are higher), but when you look at actual numbers the U.S. is leading the way down.  As of December 2010, the difference in job losses, between the EU and U.S., are about 7 million.

 

Business/Economics, U.S.

What Economic Recovery? U.S. unemployment much higher than officially reported, Corporate America needs to create 500,000 jobs EVERY month

The official U.S. unemployment rate is currently 9.1%, but that does not count those unemployed who dropped off the official lists, or those who are discouraged job seekers.

Fadhel Kaboub, an economics professor at Denison University in Ohio, says when you take into account people who are no longer counted by official sources, the actual unemployment rate is 17%.

The U.S. Department of Labor said 14 million people are officially unemployed, but Kaboub believes it’s actually 20-23 million.

He said the reason the stock markets reacted badly to the May job creation numbers, is because the only way there can be a recovery is if Corporate America creates 500,000 new jobs every month.  That has yet to happen, and as demonstrated by the May numbers, jobs creation is actually going down.

 

Business/Economics, U.S.

Real reason jobs are lacking: Corporate America is broke, lying about profits

The U.S. Census Bureau reports that the number of U.S. citizens living in poverty increased to 43 million, in 2009 (the most recent survey data).

If corporations keep reporting profits, why aren’t they hiring more people?   Paul Sheldon Foote says corporate America is still “cooking their books”, the recovery is false: “…how is it possible for example for American banks to report increases in income and have their stocks go up when all they’re doing is releasing reserve accounts on their balance sheet.”

Also: “If in fact you are playing games with the accounts creating reserve accounts and releasing reserve accounts and playing other accounting tricks you are publishing false financial statements. This is what has been happening.”

Foote is an Accounting Professor at California State University in Fullerton.

 

Business/Economics, U.S.

Unemployment up, spending way down, blame it on the inflation the government denies is happening

Job analysts were shocked Thursday, April 28, when the weekly first time unemployment claims jumped by 25,000.

“This is a major disappointment because it’s another move in the wrong direction. This is more than just a misstep for the job market. It’s a signal that the robust job growth we’ve seen recently is poised to lose momentum.”-Tim Quinlan, Wells Fargo

Total number of initial jobless claims jumped to 429,000 in the week ended April 23, analysts were expecting it to drop to 390,000.

The government is reporting that overall unemployment numbers show a drop in unemployment, but, more and more analyst think that’s because unemployed people have simply exhausted the time limit for unemployment benefits, NOT because they found work.

“We can’t be certain it’s a positive trend yet. The Labor Department doesn’t specify whether these people are rolling off their benefits or if they’ve found jobs.”–Tim Quinlan, Wells Fargo

Another factor is that each state has its own limits on unemployment benefits, so the federal reporting is not accurate state by state. For healthy improvement in the job market  the economy needs to add between 150,000 and 200,000 jobs every month, which it has not been doing.

Add to the jobs loss shock, the GDP shock.  The U.S. Commerce Department reported Thursday, April 28, that Gross Domestic Product percentages fell to 1.8% (it’s funny, some media reports are calling it an increase, maybe compared to last April).  At the end of 2010 GDP was at 3.1%, so April’s numbers are definitely a drop.

The Department of Commerce is blaming the drop on decreased consumer spending, due to, guess what, inflation.  The drop shocked analyst who were expecting GDP to hit 4.3%.

“Undoubtedly, consumers are cutting discretionary spending to compensate for rising food and energy prices.”-Jim Baird, Plante Moran Financial Advisors

Retail prices were up 3.8% from a year earlier.  Add to that the slow housing market, decreasing government domestic spending (even though the government continues to spend money outside the country), and even bad weather are taking a toll on any “recovery”.

 

 

Business/Economics, Idaho, U.S.

Pocatello, Idaho, Could be Site of New Super VA Clinic

A little history:  When I was a student/employee at Idaho State University, in Pocatello, Idaho, there was hope that the State of Idaho would use the old hospital to create a much needed medical school.  After all, the local economy was going down, a new owner of the hospital was building a new hospital and vacating the old one, and, the United States is suffering from not enough medical personnel.  But, our wise state leaders basically said no (some of those leaders are currently campaigning for re-election).

On to plan B.  The owners of the Portneuf Medical Center (PMC) announced that they have been working to convince the Federal Department of Veterans Affairs (VA), to turn the soon to be vacant old hospital (West Campus facility) into a Super VA Outpatient Specialty Clinic.

PMC West Campus, Pocatello, Idaho.

The new PMC hospital (East Campus facility) is complete, and they will be moving out of the old West Campus.  The new East Campus should be open by the middle of 2011.

PMC East Campus, Pocatello, Idaho.

Officials from the cities of Pocatello, and Chubbuck, as well as Bannock County officials, are working to help convince the VA to choose Pocatello.  What are the benefits?  Because of the War on Terror there is an increasing need for VA clinics and hospitals.  The old West Campus hospital would be ready made, no need to build a new facility, and, PMC says they will even leave medical equipment behind.  The location would mean that East Idaho, Montana and Wyoming veterans would not have to travel to Salt Lake City, Utah, for treatment.  Idaho State University, located right next to the West Campus, would be involved because they are already getting Department of Defense grants for several veterans programs.

A recent meeting with officials in Washington D.C. revealed that funding has become an issue, even with the fact that the VA wouldn’t have to build anything.  I think the residents of Idaho need to get behind this plan, especially since the Idaho National Guard (including members from Montana and Oregon) is currently serving another War on Terror tour of duty.

Business/Economics, Idaho, U.S.

Details about Allstate Chubbuck Call Center jobs

It seems the local East Idaho television news didn’t tell the story clearly concerning the Allstate Customer Information Center (CIC), planned to be built in Chubbuck, Idaho.

It is not part of the Pine Ridge Mall property.  It will be built on a vacant lot that is part of the Home Depot plaza, aka The Crossings.  The vacant lot was originally intended for smaller retail spaces, but, no contracts were signed so it sat vacant for several years.

The Crossings, Hawthorne Road, Chubbuck, Idaho.

In reading several articles in the Idaho State Journal newspaper, it became clear that the claimed 500-600 jobs is just an optimistic goal.  Only 25 people will be hired in February 2011.  More people will be hired closer to the opening date, and the total amount of employees will depend on how many calls the CIC gets.

For those worried about making sales calls, Chubbuck Mayor Steve England says there will be no “soliciting calls”.  However, employees will be required to get a state insurance license.  Sorry, state law.  Also, employees will have to get a license from every state they handle calls from.  Allstate says part of their training will include prepping for the license exam.

Training will be 6 weeks, plus one week for the license prep.  Allstate encourages college courses, and, after one year of employment, they will reimburse employees for college courses that pertain to the job.

Pay will start at $27,000 per year.  The maximum you could get is $50,000.  There are no details about how you could get the maximum, other than bonuses, but the number of licenses you have, and college courses, probably factor in.