CWA Archive
Prediction: More than 2.7 'Middle-Skill' Jobs by 2016
A report Monday claims California will need 2.7 million new workers by 2016 with what it terms “middle skills”
education – more than high school, but less than a four-year degree. More here
New Report: More than 2.7 Million 'Middle-Skill' Job Openings Projected for California by 2016
California's Economic Recovery Tied to Preparing Workers for
Jobs Requiring More than High School Diploma, Less than
Bachelor's Degree; State Must Use Economic Downtime to
Invest in Training Time To Meet Future Demand. More here
Read "California's Forgotten Middle-Skill Jobs" and learn more about the campaign at: Skills2Compete
In good sign, job losses slow as unemployment dips for the first time since 1983 — and is likely to go higher.
A report Monday claims California will need 2.7 million new workers by 2016 with what it terms “middle skills”
education – more than high school, but less than a four-year degree. More here
New Report: More than 2.7 Million 'Middle-Skill' Job Openings Projected for California by 2016
California's Economic Recovery Tied to Preparing Workers for
Jobs Requiring More than High School Diploma, Less than
Bachelor's Degree; State Must Use Economic Downtime to
Invest in Training Time To Meet Future Demand. More here
Read "California's Forgotten Middle-Skill Jobs" and learn more about the campaign at: Skills2Compete
In good sign, job losses slow as unemployment dips for the first time since 1983 — and is likely to go higher.
Employers sharply scaled back layoffs in July, and the unemployment rate dipped for the first time in 15 months, sending a strong signal that the worst recession since World War II is finally ending. More here
Obama: No time for delay on health care Trying to keep the health care debate moving on his terms, President Barack Obama on Tuesday touted the consensus reached by lawmakers so far and dismissed efforts to delay or defeat emerging legislation. He called on Washington's leaders to "insist that this time it will be different." More here.
Work program to find jobs for teens
Cast as the modern version of the civilian work corps established during the Great Depression, a new program dubbed the Youth Corps announced yesterday is expected to provide job opportunities for at least 125 “at-risk” youth across Santa Barbara County beginning this fall. More here
The City of Hawthorne/South Bay Workforce Investment Board Receives $160 Million to place 10,000 individuals into subsidized employment
Rebuilding Something Better Nearly six months ago, my administration took office amid the most severe economic downturn since the Great Depression. At the time, we were losing, on average, 700,000 jobs a month. And many feared that our financial system was on the verge of collapse. More here
Stimulus funds on the job The activities program at Marysville Care Center has Christine Dunn, 19, working at a far quicker pace than she ever would have imagined before she started her summer job five weeks ago. More here
Stimulus At Work in Southeastern San Diego $10.5 million in federal stimulus dollars.
In the worst job market in nearly a generation, the program will offer a lifeline, albeit a temporary one, to young residents from some of San Diego’s toughest main streets. Most of the $10.5 million will be spent by the end of September, the rest by next year. More here
State economic forecast bodes ill for jobless The state budget crisis will pour salt in California's economic wounds and help push the statewide unemployment rate to 12.1 percent by the end of 2010, according to a bleak forecast issued today. More here
Which states will be early risers?
If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington. The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year. Four of those states benefit from strong high-tech industries, and the fifth, Texas, has a strong base of energy industries. More here
Contra Costa Youth@Work highlighted on the CBS news. Click here to view
Green Technology Magazine
By Racquel Palmese
There are 49 local, city and county workforce investment boards operating under the California Workforce Investment Board. All are part of a national system for workforce development funded by the U.S. Department of Labor, and many are looking into green jobs training. If a company needs its workers retrained or a newly trained workforce, a local WIB will help set up a training program and will often pay for it as well.
Green Careers: Choosing Work for a Sustainable Future By Jim Cassio and Alice Rush, MA, RPCC, MCC
People of all ages and backgrounds are seeking work in career fields that will help protect nature and save the planet, yet many people are unaware of the variety of green careers available. This unique career guidance book, based on labor market research, covers green jobs representing almost every area of career interest. The authors’ extensive experience in career and workforce development will help you explore tomorrow’s green career options today! Order your copy from the publishers bookstore! Click link below: www.newsociety.com/bookid/4042
Gov. Schwarzenegger Highlights First Recovery Act Funding to Begin Employing California At-Risk Youth Joining Los Angeles Mayor Antonio Villaraigosa at a press conference in Los Angeles, Governor Arnold Schwarzenegger today announced the first American Recovery and Reinvestment Act (Recovery Act) funding to begin employing at-risk youth in California. More here
Obama's pretty good start President Obama's 100 days in office have not shaken the world, but he has been compelled to focus on the legacy bequeathed by former President George W. Bush: the worst economic slump since the Great Depression and two wars.
Justice in the Air: Tracking Toxic Pollution from America's Industries and Companies to Our States, Cities, and Neighborhoods With climate change threatening our way of life, dirty air triggering asthma, and industrial pollutants causing cancer, the nation is more motivated than ever before to take a hard look at the problems we face and seek new approaches that can better secure the future of the planet and save lives. More here
Global economy is expected to shrink this year The world economy is likely to shrink this year for the first time in six decades. More here
El Dorado County to hold economic stimulus summit El Dorado County business people can learn how they can benefit from federal stimulus dollars at a May 6 summit in Cameron Park. More here
Stimulus funds to help clean Superfund sites The U.S. Environmental Protection Agency announced Wednesday that it is directing about $35 million in federal stimulus funds to California to speed cleanups at Superfund sites, including at the popular Clear Lake in Lake County. More here
Obama says changes are needed to help recovery take hold Reporting from Washington -- With signs that the worst of the recession may have passed, President Obama is trying to keep the nation focused on a still-troubled economy and regain momentum in Congress for his plan to revamp healthcare, energy, education and financial regulation -- thorny issues that have long defied solution. More here
Federal money in, state money out As federal stimulus money flows into Valley programs, state budget cuts are taking away funds just as quickly -- and it's hard to tell if agencies are gaining or losing ground, or maybe just running in place. More here
State, feds offer more help for the jobless Good news for the jobless: Gov. Arnold Schwarzenegger has signed a bill that will provide up to 20 additional weeks of federal unemployment benefits through the end of this year, bringing the maximum in California to 79 weeks. More here
Obama sees 'glimmers of hope' in economy President Obama declared Friday that the slumping economy has begun to show "glimmers of hope," but cautioned that it remains severely stressed and will require lots more work to turn it around. More here
Unemployment soars to 8.5 percent; 13M now jobless Unemployment zoomed to 8.5 percent last month, the highest in a quarter-century, as employers axed 663,000 more workers and pushed the nation's jobless ranks past 13 million. The hard times were only expected to get harder — a painful 10 percent jobless rate before long. More here
“Building Tomorrow’s Workforce” is a report from the Corporation for a Skilled Workforce click here to
New jobless claims jump, factory orders up The number of people filing new jobless claims jumped unexpectedly last week, while those continuing to receive benefits hit a 10th straight record-high. Both figures show the labor market remains weak and is unlikely to recover anytime soon, despite some signs the economy's decline is moderating. More here
Administration releases stimulus money for schools The Obama administration has released the first round of school dollars from the economic stimulus package. More here
7 states see jobless rate top 10 percent Double-digit unemployment rates hit more states in February, with North Carolina and Rhode Island seeing their rates hit record highs. More here
GDP shrinks at 6.3% annual rate, faster than expected Reporting from Washington -- The economy shrank even faster than thought at the end of last year, and job losses are continuing at a stunning pace, according to government data released Thursday, stark reminders of the severity of the downturn even as the economy shows hints of stabilizing. More here
A glance of stimulus dollars for education A state-by-state glance of the estimated total amount of economic stimulus dollars, in millions, for education:
Agilent to restructure in part, lay off 2,700 Agilent Technologies in Santa Clara will restructure the largest part of its business - its Electronic Measurement Group - and lay off 2,700 people, more than 14 percent of its workforce, the company said Thursday. More here
State to announce whether stimulus is enough State finance officials' accounting of whether California will receive enough federal funds to avoid nearly $3 billion in tax increases and budget cuts is scheduled to be made public today. More here
Calif. lawmakers extend unemployment benefits The state Senate on Thursday passed legislation that will extend benefits to the unemployed by 20 weeks, sending Gov. Arnold Schwarzenegger the first bill involving money from the federal economic stimulus package. More here
State changing laws to get stimulus funds California legislators are rushing changes to laws to make sure the state receives the most federal stimulus money possible for transportation and water projects and to boost unemployment benefits. More here
Forecast: Calif. jobless rate to near 12 percent
California's jobless rate will climb to a staggering 11.9 percent between April and June next year, and double-digit unemployment will linger in the nation's most populous state at least through 2011, according to a new economic forecast. More here
Lawmakers advance plan for stimulus funds The Assembly Ways and Means Committee voted unanimously Monday for two measures that allow lawmakers to accept federal stimulus funds for jobless benefits — despite earlier concerns voiced by Gov. Jim Gibbons. More here
States missing out on extra unemployment benefits More than a half-million unemployed workers in Ohio and several other states are missing out on extended federal benefits because of the way laws in their states are written. More here
Obama promotes economy on California trip As he voiced outrage over bonuses paid to executives of a giant insurance firm propped up by taxpayer-funded bailouts, President Barack Obama assured Californians on Wednesday that they won't be left behind in efforts to turn around the economy. More here
New jobless claims fall more than expected to 646K New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon. More here
Obama heads to California for town-hall meetings President Barack Obama heads to California today, where he will preside over a couple of town hall-style meetings and become the first incumbent chief executive to appear on "The Tonight Show." The visit comes at a time when California is being hit hard economically.
State fiscal leaders skeptical stimulus funds will avert cutbacks Two state fiscal leaders sounded skeptical Tuesday that California will receive at least $10 billion in direct budget relief from the federal stimulus package, the amount necessary to reduce state income taxes and social service cuts under the spending plan enacted last month. More here
Stimulus plan: Spend now, details later (promise) President Barack Obama wants governors to hurry up and begin building bridges and schools to revive the economy. His administration is learning that spending $787 billion as quickly and transparently as promised is no easy task. More here
California's state work force grew despite budget woes and cut promises California state government's full-time work force continues to grow despite Gov. Arnold Schwarzenegger's order to freeze hiring amid a historic budget shortfall. More here
Jobless workers' woes finding health coverage Since President Obama signed into law the $787 billion economic recovery effort last month, employers, laid-off workers, state officials and benefits attorneys have been scrambling to figure out the details of broad-brush provisions that are designed to help the growing number of jobless workers continue health coverage. More here
Obama to get report on stimulus plan from Volcker President Barack Obama is getting an update on the nation's economy from former Federal Reserve Chairman Paul Volcker. More here
State teachers to rally against cuts, layoffs California's struggling school districts expect to send out at least 26,000 pink slips by today's deadline for warning teachers that they might be laid off. More here
Jobless rate hits double-digits in more states A growing number of states suffered double-digit unemployment rates in January, and others are close behind, buttressing fears that the national jobless rate could hit 10 percent by year's end. More here
Oakland resident accepts White House post as 'green jobs' adviser Oakland activist and author Van Jones has accepted a White House post as a "green jobs" adviser to President Barack Obama. More here
Unemployment by the Numbers: How Bad Is It Hurting? Unemployment statistics don't usually leap off the page, but the latest report from the Department of Labor offers some astounding figures. More than 651,000 jobs were cut in February, continuing a steep drop that has raised the unemployment rate to 8.1 percent, its highest level since 1983. More here
Earmarks mean millions for Sacramento-area projects Ending another long battle over federal spending, President Barack Obama on Wednesday signed a $410 billion bill that includes funding for more than 8,000 pet projects for members of Congress, including hundreds in California. More here
Stimulus not enough for state in short-term California's share of the federal stimulus package could reach nearly $31.5 billion through mid-2011 but won't be enough in the coming year for the state to avoid tax increases and spending cuts, the nonpartisan legislative analyst said Tuesday. More here
Obama urges other nations to take stimulus action President Barack Obama called Wednesday for international allies to sign on to more aggressive steps to jump-start their own economies, warning that U.S. efforts to pull its own economy back from the brink will falter without global coordination. More here
Bee erases 128 jobs, cuts pay for remaining staff The Bee eliminated 128 jobs Monday, or 11 percent of its staff, and imposed pay cuts on remaining workers. The cutbacks are part of a broader layoff by The Bee's parent, The McClatchy Co. of Sacramento, which said it's erasing 1,600 jobs, or 15 percent of its work force.
State in line for $50.7 billion in federal money The flow of federal economic-recovery money into California is likely to total $50.7 billion, or even more, according to an analysis by a non-profit group that tracks government spending. More here
Even in a recession, some companies are hiring Help wanted: pharmacists, engineers and nurses. Believe it or not, even some banks are hiring, at least for their technology teams. While the recession has claimed 4.4 million jobs, the economy has created others, many of them for highly trained and specialized professionals. More than 2 million jobs openings now exist across a range of industries, according to government data. More here
Recession finds even those with jobs losing pay In cubicles, factories and stores these days, anxious workers are trying to ease each other's economic fears with something akin to, "Well, at least we still have a job." More here
World Bank warns of global recession The world is falling into the first global recession since World War II as the crisis that started in the United States engulfs once-booming developing nations, confronting them with massive financial shortfalls that could turn the clock back on poverty reduction by years, the World Bank warned Sunday. More here
Furlough Friday' closures ending today The Department of Motor Vehicles and other state offices in Santa Rosa are closed today, but this marks the final “Furlough Friday” as the state returns to a five-day workweek, Gov. Arnold Schwarzenegger announced Thursday. More here
Santa Cruz County unemployment more than 12 percent The unemployment rate in Santa Cruz County rose to 12.6 percent in January, up from a revised 10.2 percent in December and 8.4 percent a year ago, the state Employment Development Department reported Thursday morning. More here
Silicon Valley unemployment rate jumps to 9.4 percent Silicon Valley's jobless rate leaped more than a full point to a stunning 9.4 percent in January, the biggest jump since at least 1990. More here
Bay Area unemployment jumps higher Unemployment rates in the Bay Area jumped into record territory in January, reaching 9.4 percent in the San Jose area, 9.2 percent in the East Bay and 7.5 percent in San Francisco and its vicinity. More here
Jobless rate is expected to jump to 7.9 percent The Labor Department will release a report today that is expected to show the unemployment rate rising to 7.9 percent and a loss of 648,000 jobs in February, making it an especially cruel month for America's workers.
Sacramento-area unemployment soars to highest level in a generation Unemployment in Sacramento soared to 10.4 percent in January, a level not seen in a generation, as practically every economic sector faltered. More here
How stimulus offers more college financial aid The American Recovery and Reinvestment Act, a.k.a. the stimulus act, provides more money for college financial aid. President Obama's proposed budget includes even more changes, but they need congressional approval. More here
New jobless claims unexpectedly drop to 639K The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.
Jobless benefit checks grow by $25 this week Unemployed Californians will start seeing an extra $25 a week in their unemployment insurance checks this week, thanks to the economic stimulus money recently approved by Congress.
Putting the economic rescue in perspective How does the government's package of bank bailouts, loans and economic stimulus plans compare with government spending in earlier periods of distress? More here
Obama will sign spending bill despite earmarks President Barack Obama will break a campaign pledge against congressional earmarks and sign a budget bill laden with millions in lawmakers' pet projects, administration officials said. More here
Some state lawmakers fighting federal stimulus For small-government die-hards, the $787 billion economic stimulus bill recently passed by Congress isn't a life saver. It's the last straw. More here
States' budget woes will outlast the recession Even after $135 billion in federal aid gets spent, many states will be staring down budgetary black holes unless they initiate dramatic spending cuts or tax increases, or both. More here
State unemployment rate reaches 10.1% California's unemployment rate hit 10.1 percent in January, the highest level in 26 years, as more than 1.8 million residents looked for work last month to no avail. More here
Faces of the Jobless
When the Employment Development Department reports the state's January unemployment statistics today, a grim outlook is likely to get even bleaker. The state's unemployment rate, already at a 15-year high, is expected to jump past December's 9.3 percent. Meanwhile, more than 1.7 million Californians are actively searching for work. More here
Stimulus give jobless $25 raise, more benefits
The federal stimulus act provides help for the unemployed, including a $25-per-week raise, more time to qualify for extended benefits, a partial federal tax break on unemployment compensation and subsidized health-insurance premiums. More here
California unemployment rate jumps to 10.1 percent
California's unemployment rate jumped to 10.1 percent in January, the state's first double-digit jobless reading in a quarter-century. More here
More flock to job sites _ even if they have jobs
As job losses mount amid the economic turmoil, more people are turning to career-development Web sites even if they are still employed, a new study finds. More here
Budget would boost Labor Department programs
The Labor Department would get more money to boost enforcement of workplace health, safety and wage laws under President Barack Obama's proposed budget. More here
667K new jobless claims; continuing claims top 5M
New jobless claims rose more than expected last week and the number of Americans continuing to receive unemployment benefits has topped 5.1 million, fresh evidence the recession is increasingly forcing employers to shed jobs. More here
Obama: Financial sector needs stronger regulations President Barack Obama is calling on Congress to pass strong financial sector regulation and oversight to prevent future crises and restore "accountability, transparency and trust in our financial markets." More here
Gov't says 'mass layoffs' soared in January Employers took a large ax to their payrolls in January, the government said Wednesday, and the cuts are likely to get worse over the next few months. More here
Solis confirmed as Labor secretary Reporting from Washington -- The Senate confirmed Rep. Hilda L. Solis (D-El Monte) as Labor secretary Tuesday, more than two months after President Obama nominated her for the post. More here
Bernanke: economy suffering 'severe contraction' Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy is suffering through a "severe contraction" and pledged to use all available tools to lift the country out of the recession that already has cost millions of Americans their jobs. More here
Spansion cuts 3,000 employees, 35 pct of workforce Troubled flash memory maker Spansion. said late Monday it will slash its global work force by 35 percent, affecting about 3,000 employees, mostly at manufacturing sites. More here
Schwarzenegger is one of few GOP governors to praise the stimulus plan WASHINGTON — Fresh from a resolution of the state's budget meltdown, Gov. Arnold Schwarzenegger retook the national spotlight as a bipartisan bridge-builder, completing a three-day trip here Monday with fresh praise for President Barack Obama's stimulus plan.
Forecasters see higher unemployment in 2009 The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home and abroad retrench in the face of persistent economic troubles. And the U.S. unemployment rate — now at 7.6 percent, the highest in more than 16 years — is expected hit a peak of 9 percent this year. More here
Obama stimulus: More old school fix-ups, less New Deal grandeur Reporting from Washington -- Compared with the epic approach of President Franklin D. Roosevelt's New Deal, President Obama's economic recovery strategy could be summed up as: Think small -- in a huge way. More here
AP IMPACT: Jobless hit with bank fees on benefits First, Arthur Santa-Maria called Bank of America to ask how to check the balance of his new unemployment benefits debit card. The bank charged him 50 cents. He chose not to complain. That would have cost another 50 cents. So he took out some of the money and then decided to pull out the rest. But that made two withdrawals on the same day, and that was $1.50. More here
Winners and losers in state budget struggle When exhausted state legislators cast their final votes on the new state budget early Thursday, they left behind plenty of winners and losers in the contentious, three-month-plus effort to close the $41 billion gap between revenue and spending.
ECONOMY February another bad month for jobs February is shaping up to be another brutal month of job losses: The Labor Department reported Thursday that the number of people receiving regular unemployment benefits rose by 170,000 to 4.99 million for the week ending Feb. 7, marking the fourth straight week continuing claims have hit a record. More here
Budget plan goes to Schwarzenegger after Legislature's OK The deal is done. The California Legislature voted early today to approve a massive budget package of tax increases, spending cuts and borrowing to close a $40 billion deficit after granting major concessions to one holdout Republican senator. More here
Nearly 5 million are getting unemployment benefits The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year.
Obama visits Canada to discuss economy, trade President Barack Obama huddled with Canadian Prime Minister Stephen Harper on Thursday on the slumping economy, trade, energy and the war in Afghanistan as the new U.S. leader traveled outside his country's borders for the first time. More here
Local cities get creative to help generate funds The men in black squeezed off shots from their M-4 rifles from different positions: standing, kneeling and lying prone. Spent shell casings littered the ground. Garbage cans overflowed with cardboard bullet boxes. More here
Obama signs stimulus bill Warning that its passage into law "does not mark the end of our economic troubles," President Obama on Tuesday signed the massive $787 billion stimulus package, a measure he called the most sweeping financial legislation enacted in the nation's history. More here
State jobless rates leaps to 9.3% California's unemployment rate surged to 9.3 percent in December as employers cut 78,200 jobs, pushing joblessness to a level not seen since 1994, the state Employment Development Department said Friday. More here
OC’s stim wish-list: more green construction, more jobs The $787 billion stimulus package signed into law by President Obama on Tuesday could bring new life to Orange County’s “green” community — not only by creating new green jobs, but by eventually reducing air pollution and even infusing cash into restoration of natural habitat. More here
Calif. legislators try again to reach budget deal California lawmakers are still trying to pass a massive $42 billion budget-balancing plan after a marathon weekend session that produced some last-minute fireworks but no agreement on a key part of the plan — $14.4 billion in higher taxes. More here
State hits wall over its budget SACRAMENTO - The pressure on California lawmakers to pass a midyear budget fix and avoid financial calamity intensified Tuesday, as layoff notices went out to state agencies, hundreds of public works projects were on the brink of losing state funding and the Legislature appeared unable to break a political logjam.
Stimulus bill produces lots of winners and losers Barack Obama is scoring a monster victory three weeks into his presidency with the economic stimulus deal. But he's taken some hits along the way and ultimately will be judged on whether he is able to cure an economy that is mired in recession. More here
State's woes may blunt $789 billion stimulus What Washington does with one hand, California may reverse with the other, as the two governments work at cross-purposes in fighting a recession that has left 1.7 million Californians unemployed, a 9.3 percent unemployment rate and worse on the way. More here
Stimulus deal could mean $26 billion for California Reporting from Sacramento and Washington -- The $789-billion economic stimulus bill headed toward congressional approval is expected to pour $26 billion into California -- building roads, upgrading schools and launching other projects intended to create or save jobs. More here
Doubts grow about California budget deal SACRAMENTO — Interest groups at both ends of the political spectrum reacted with anger Thursday to the emerging plan to close the state's massive budget deficit, and doubts began to mount about whether it had enough support in the Legislature to survive a planned vote this weekend. More here
Obama campaigns for stimulus plan in Florida
President Obama, pressing the case for an $800 billion-plus stimulus package, acknowledged Tuesday that failing to revive the economy could cost him a second term as president. More here
Signs of a stimulus plan bolder than the New Deal
On Capitol Hill, in the corridors of the Treasury Department and from President Obama's bully pulpit, the federal government moved forward Tuesday on the most ambitious economic recovery plan since the Great Depression.
California's Pain Is Only Beginning BIG SUR, Calif. -- As Sacramento squabbles over the state's $42 billion deficit, Californians are getting a bitter taste of what's to come after the steep budget cuts that are inevitable when legislators and Gov. Arnold Schwarzenegger finally hammer out a deal.
Budget proposal raises income, sales, gas taxes, and car fees Californians' pocketbooks would be hit in at least four ways under a wide-ranging budget proposal that is being pushed toward a floor vote within days in the Senate and Assembly. More here
Daniel Weintraub: Seeds of growth ready for fertile ground As California's economy struggles to rebound from the collapse of the housing bubble, it is difficult to imagine what will lead us out of this hole. We had the dot-com boom and bust, and then a housing-led recovery that turned out to be a mirage. Is there some industry, some idea that can reignite sustainable growth in this once-golden state?
A comparison of economic stimulus plans
A comparison of the $838 billion economic recovery plan passed by the Senate with an $820 billion version passed by the House. Additional debt costs would add almost $350 billion over 10 years. Many provisions expire in two years. More here
WHO GETS WHAT: Stimulus to pad pockets of jobless
More jobless workers would get fatter unemployment checks longer in the massive economic recovery package moving forward in Congress. More here
Governor: Layoffs Coming If No Budget Soon Schwarzenegger's administration warned Tuesday that it will begin proceedings to lay off thousands of state workers if the governor and legislative leaders do not reach a budget deal by Friday. More here
GM cuts 10,000 salaried jobs, trims employees' pay General Motors Corp. is planning to slash another 10,000 salaried jobs this year, saying the cuts are unavoidable with a government restructuring deadline looming and industrywide sales in one of the worst downturns in history. More here
Senate passes Obama's economic recovery plan President Barack Obama's economic recovery plan has passed the Senate and is on its way to difficult House-Senate negotiations. More here
Obama Warns of 'Lost Decade' President Barack Obama, saying the U.S. faces a "profound economic emergency," prosecuted the case for his economic stimulus plan and left the door open for the government to spend billions more on a controversial bank-bailout plan during a prime-time news conference Monday. More here
Veteran police officers' jobs may be at stake as San Bernardino considers layoffs Trying to build the size of their police force, San Bernardino officials offered signing bonuses and other incentives. Now, a plan to ease a budget crisis calls for laying off as many as 49 officers. More here
Senate cut billions from state's stimulus share
California officials who were counting on help from the new economic stimulus package to confront a $42 billion budget shortfall are now fretting that the Senate is dramatically shortening that lifeline of federal aid. More here
Pent-Up Demand Could Quickly Pull Economy Out of Its Hole Last year's credit crisis hit the economy with a surprising jolt, and most economists expect the recession to drag on until at least the end of 2009, with only a meager recovery after that. More here
House, Senate stimulus bill differences
Key differences between the $827 billion Senate version of President Barack Obama's economic recovery plan and the $820 billion version that passed the House last month.
Obama calls anew for swift action on economy
Making his case in the most dire terms, President Barack Obama said that if Congress does not quickly pass an economic stimulus package, the nation will slip into a crisis so deep that "we may be unable to reverse" it. More here
Nissan to slash 20,000 jobs and sees annual loss
Nissan announced 20,000 job cuts Monday, the deepest reduction among Japan's automakers in battling the global downturn, as it forecast its first annual loss in nine years. More here
Budget possibilities for this week
With the state heading into the second week of its "financial Armageddon," there's hope that state lawmakers may finally vote this week on a budget solution to close a record $42 billion gap. More here
Stimulus: Pelosi seeks to add jobs, state aid
House Speaker Nancy Pelosi vowed Sunday to push for more jobs and increased aid to states, as Congress battles over details of an economic stimulus plan aimed at pulling the nation out of a financial tailspin. More here
The promise and peril of the 'clean-energy economy'
Reporting from Washington -- President Obama's plans to lead America out of recession rest in part on a task bigger than a moon shot and the Manhattan Project put together. More here
White House Names Board of Outside Economic Experts
The Obama administration today announced a team of outside economic advisers, chaired by former Federal Reserve chairman Paul A. Volcker, to help sculpt a response to the deepening recession. More here
State's eventual rebound could be quick
The pace of job layoffs in the California economy has been much quicker in the past 18 months than in previous state economic downturns – the result of technology, globalization and the breakdown of the employer-employee relationship that reigned through much of California's post-World War II period. In turn, though, the pace of job hires likely will be far quicker than most commentators are projecting when the economy turns. More here
State budget cuts would hit GOP areas hardest
Solutions to the state's $42 billion budget gap remain elusive as Republican lawmakers rebuff proposals for new taxes, arguing that California spends too much. But parts of the state that the GOP legislators represent would be hurt most by deep cuts, according to a Chronicle analysis of state data. More here
DMV, other state offices set to close Friday
There will be no lines at the DMV today.The agency's 200 offices across California are closed, along with several other state agencies, as hundreds of thousands of state workers take their first day of unpaid leave to help the cash-starved government cut expenses. More here
Democratic leader sees progress on stimulus plan
The Democratic leader says lawmakers have made progress on an economic recovery package and the Senate could vote as early as Friday afternoon.
Jobless rate 7.6 pct; 598K job cuts most since '74 Recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974, and catapulted the unemployment rate to 7.6 percent. The grim figures were further proof that the nation's job climate is deteriorating at an alarming clip with no end in sight. More here
Furlough Fridays begin for Calif. state workers California's first-ever furloughs began Friday with more than 200,000 state workers expected to stay home without pay amid the state's fiscal crisis. More here
Many States Running Low on Unemployment Benefits
A December study by the National Association of State Workforce Agencies found that some 30 states could be at risk of having their unemployment trust funds run dry over the next several months. Already some states have taken out loans, according to NASWA, whose members manage state unemployment and other workforce programs. More here
State furloughs may further delay unemployment benefits
Reporting from Sacramento -- Already frustrated jobless Californians may have a tougher time getting unemployment insurance benefits of up to $450 a week as of Friday when most state workers start taking off two days a month without pay. More here
98 percent of metro areas see jobless rates rise
Unemployment rates rose in 98 percent of U.S. metropolitan areas late last year, with manufacturing layoffs driving the largest annual increases in Indiana's Elkhart-Goshen region and Dalton, Ga. More here
Give unemployed workers a chance to appeal
With the deepening budget crisis, it feels as if all state government services are on the verge of shutting down. But the failures of the state Unemployment Insurance Appeals Board have little to do with the budget crisis. They were avoidable, and are fixable even now. With a state unemployment rate edging toward 10 percent, Gov. Arnold Schwarzenegger needs to make the board move faster to resolve these problems. More here
Unemployment Agency Has Outdated Tech
SACRAMENTO, Calif. -- The state agency that handles unemployment claims has a 30-year-old computer system, leaving state workers to manually process jobless claims submitted online. More here
What a difference a year can make for California's unemployment
What's the difference between 5.9 percent and 9.3 percent? More here
California's community colleges near the breaking point. Facing yawning budget gaps, California's public universities are shifting thousands of applicants into a community college system already swamped by newly unemployed adults and students priced out of other schools. More here.
THE BIG FIX
The Economy will recover. It won't recover anytime soon. More here
California 2009 Economic and Housing Forecast: Examining 5 Areas Showing California will have a Tougher Economic Year than 2008. More here
FACT CHECK: Stimulus job creation claims uncertain
President Barack Obama and congressional Democrats say it nearly every day: Their huge economic stimulus package must be rushed to passage because it will create or save 3 million to 4 million jobs. More here
As unemployment rises, Uncle Sam has jobs
The economic downturn has forced private industry and state and local government to shed jobs, but one major employer in the country is hiring: The federal government. More here
Record number of Americans getting jobless benefits
The number of Americans receiving jobless benefits set a record, the federal government announced today, even as more companies said they would dial back their workforces. More here
Stimulus would bring welcome relief to California
Reporting from Washington -- As the $819-billion economic recovery bill approved by the House on Wednesday makes its way through Congress, officials 3,000 miles away have their eyes on a Santa Monica Pier upgrade and other projects that have been awaiting funding. More here
Calif. Unemployment Trust Fund Nearly Dry
SACRAMENTO, Calif. -- The state Unemployment Insurance Trust Fund is about to run out of money, but unemployed Californians will still get their benefits. More here
New jobless claims continue to rise
The number of new claims for jobless benefits jumped more than expected last week, as companies continue to cut jobs at a furious pace. more here
House Democrats propose $825 billion stimulus bill
The number of new claims for jobless benefits jumped more than expected last week, as companies continue to cut jobs at a furious pace. more here
House Democrats propose $825 billion stimulus bill
Working closely with President-elect Barack Obama, House Democrats on Thursday called for $825 billion in federal spending and tax cuts to revive the moribund economy, with strong emphasis on energy, education, health care and jobs-producing highway construction. More here
New jobless claims increase more than expected
New claims for jobless benefits increased more than expected last week, a trend many economists say is likely to continue for much of this year. more here
Schwarzenegger: Deficit is 'rock upon our chest'
Gov. Arnold Schwarzenegger on Thursday called California's massive deficit a "rock upon our chest" and said the state can address no other policy issues until the fiscal crisis is resolved. More here
Unemployed Californians having tough time collecting benefits
More bad news for out of work Californians who want to collect unemployment benefits. Offices are backlogged. More here
Bush OKs Obama's request for $350-billion balance of bailout fund
Reporting from Washington -- President Bush today agreed to a request from President-elect Barack Obama to notify Congress to access the second half of the $700-billion financial bailout fund, starting a 15-day period in which lawmakers must act to block the money before it is automatically released. More here
Grim job outlook turns bleaker
Friday’s employment report — showing another half million jobs lost in December — confirms an already bleak outlook for the job market and adds urgency to President-elect Barack Obama's plan for a massive economic stimulus package. More here
Jobless rate jumps to 7.2 percent in Dec.
WASHINGTON - The nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs, capping one of the worst years in modern history for American workers. More here
Confirmation Hearings Today on Solis for Labor Secretary
As Congress holds confirmation hearings on the nomination of Hilda Solis as secretary of labor this morning, we will get our first extended look at how she plans to return the U.S. Department of Labor to its primary mission of protecting the lives, wages and rights of working people. More here
U.S. Job-Market Fall in 2008 May Be Biggest Since ‘45
Jan. 9 (Bloomberg) -- The U.S. probably lost 525,000 jobs in December, capping the biggest collapse in employment since the end of World War II, economists said before a report today. More here
Stocks slump on news of rising unemployment
A jump in unemployment sent stocks sharply lower Friday as investors feared that Americans won't soon deviate from their tightened budgets. The Dow Jones industrial average fell 143 points to end the week down nearly 5%, its worst week since November. more here
Job losses stack up as recession deepens
WASHINGTON (AP) — Trying to survive a deepening recession, employers are cutting their work forces to the bone, leaving more Americans unemployed and with dim prospects of finding a new job any time soon. More here
Obama: Congress must act boldly and now on economy
President-elect Barack Obama implored Congress on Thursday to "act boldly and act now" to fix an economy growing perilously weaker. Leading lawmakers set an informal goal of mid-February for enacting tax cuts and government spending that could cost as much as $1 trillion. More here
Finding a new job becomes harder as layoffs mount
The number of laid-off workers who are continuing to draw unemployment checks jumped more than expected to 4.6 million at the end of December and is likely to keep climbing this year — fresh evidence that people are finding it increasingly difficult to get a new job amid a deepening recession. More here
Unemployment Office Overwhelmed With Calls
Unemployed workers who want to sign up for jobless benefits are getting busy signals on overwhelmed state phone lines. That's leading some to crowd into unemployment offices. More info
World markets hit by US unemployment fears
U.S. and European stock markets fell sharply Wednesday amid fresh worries about the U.S. labor market following a grim jobs survey and the announcement aluminum producer Alcoa will slash jobs. more here
Job losses to persist as economy spirals downward
Americans probably suffered a net loss of 2.4 million jobs last year, with the pain likely to stretch well into 2009 and possibly beyond, underscoring the recession's toll on employers and workers and the difficulty President-elect Barack Obama will face in reviving the economy. More here
Governor rejects Dems' budget, as he promised
Gov. Arnold Schwarzenegger vetoed Democratic lawmakers' $18 billion mid-year budget package on Tuesday after leaders of the Legislature sent it to him, saying they were perplexed by his unwillingness to break a deadlock in negotiations. More here
State unemployment claim systems overwhelmed
Electronic unemployment filing systems have crashed in at least three states in recent days amid an unprecedented crush of thousands of newly jobless Americans seeking benefits, and other states were adjusting their systems to avoid being next. More here
Economy in grip of recession, reports show
Anyone looking for a bright spot in the recession might have pointed to a reading Tuesday of the nation's office workers, retailers and other service industries, which contracted at a slower-than-expected pace in December. More here
In California, it's the budget and the economy
California has a long to-do list, featuring healthcare reform, repairing the Sacramento-San Joaquin River Delta, continuing to lead the fight for a clean environment, updating transportation infrastructure and fixing the broken system of governance. But those challenges and many others have been moved to the back burner behind two matters that deserve, for now, to come first. More here
Economists see jobless surge, deeper housing hole
NEW YORK, Jan 5 (Reuters) - The worst financial crisis in more than a half century is going to get even worse, putting further pressure on U.S. home prices and driving the unemployment rate above 11 percent, according to two prominent academic economists. More here
Resolve to advance your career in 2009
It has been a rough year for the American workforce. Jobs have been eliminated left and right. The threat of downsizing continues to loom. For those who still have a job, raises and bonuses are a receding memory. More here
Dem aide: Obama supports $300B tax cut plan
President-elect Barack Obama, commencing face to face consultations with congressional leaders Monday, is embracing an unexpectedly large tax cut of up to $300 billion. Obama said the country faces an "extraordinary economic challenge." More here
Obama Considering Massive Unemployment Aid Expansion
Unemployment benefits could be extended to part-time workers under a new economic stimulus package which will be discussed this week. More here
Overcoming Unemployment And Mental Illness
(CBS) While unemployment for the overall population is running at 6.7 percent, for people coping with psychiatric difficulties, it reaches 90 percent. For those struggling with both, there's a special program that not only dramatically lowers unemployment, but also fosters self-respect, reports CBS News medical correspondent Dr. Jon LaPook.
Unemployment claims foreshadow bleak 2009
The number of laid-off workers continuing to draw unemployment benefits bolted to 4.5 million in late December, and even more Americans are expected to join the ranks of the jobless in 2009. More here
The increase - and dangers - of unemployment everywhere
California posts 8.4% unemployment rate in November
US Department of Labor officers said on Friday that, behind Michigan and Rhode Island, California became the third state with fairly high unemployment rate in November - which climbed to 8.4 percent, the highest level has had since 1994. More here
Obama settles on Rep. Hilda Solis as labor chief
WASHINGTON (AP) — President-elect Barack Obama's choice to be labor secretary, Democratic Rep. Hilda Solis of California, is expected to advocate greater union influence in the workplace and more "green" jobs .More here
Unemployment Offices Overwhelmed by Applicants
CAMPBELL, Calif. (KCBS) -- The days of walking into the unemployment office to file a claim are long gone, and those who can’t easily file online are discovering that trying to get benefits can be a job unto itself. More here
State layoff list projects variety of job cuts
The current list of layoff notices sent to the Employment Development Department shows employers from heavy industry to high tech to transportation trimming payrolls in a down economy. More here
Fed ready to slash rates amid deepening recession
With the recession dragging down consumer prices and home construction, the Federal Reserve is prepared to slash a key interest rate — perhaps to an all-time low — in a desperate bid to stem the country's economic slide. More here
Job seekers outnumber openings
There were three times as many people seeking work in October than vacant jobs, according to a report by the Economic Policy Institute. More here
BofA to eliminate 35,000 jobs in the next 3 years
Bank of America Corp. said Thursday it expects to cut 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co. More here
U.S. stocks fall after trade and unemployment data
Stocks on Wall Street fell sharply on Thursday afternoon, with the Dow Jones industrials sliding 200 points, as investors weighed a lower sales outlook and a widening trade gap that could spell trouble for American businesses. More here
Forecast: California facing 'ugly' jobless rate
More idled workers. Thin crowds at shopping malls. Possible tax increases. Falling personal income. Climbing foreclosures. More info
More jobs carnage: 573,000 file for unemployment
New claims for jobless benefits surged last week and came in worse than expectations that were already gloomy — and economists say the figures would get even worse without an auto industry bailout. More here
Forecast sees state unemployment above 9 percent
Unemployment will top 9 percent, in Sacramento and statewide, throughout the next two years, a new forecast says. More here
A Stimulus Package That Helps Unskilled Workers
President-elect Barack Obama faces a conundrum. He wants to strengthen the nation with a vast fiscal stimulus package that invests in transportation, green energy and broadband access. He also wants to help those with less schooling, who are vastly overrepresented among the unemployed. But improving the information superhighway is unlikely to employ large numbers of high school dropouts. More here
The Job Market for College Graduates
On Friday, David Leonhardt pointed out that the increase in the unemployment rate in November understated the weakening of the job market because many workers have given up looking for work. This is an important and ominous development in the economy. There is even more to the story. The gap between declining employment and rising unemployment is greatest for college graduates because they are leaving the labor force at a rapid rate. More here
Obama warns economy to worsen before it improves
President-elect Barack Obama wants to make something very clear: The economy is not going to immediately recover when he takes his oath of office, but he has a plan to get the country moving. More here
Bush acknowledges recession, automakers' troubles
President George W. Bush publicly acknowledged for the first time Friday that the U.S. economy is in a recession and worried aloud that Detroit's Big Three automakers may not all survive their mounting troubles. More here
Employers cut 533K jobs in Nov., most in 34 years
Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. More here
November Job Losses Could Be Worst in 28 Years
The U.S. economy is bleeding jobs faster than it has since the early 1980s, and perhaps since the mid-'70s. Economic forecasters are now projecting that on Dec. 5, the government will announce the loss of more than 300,000 jobs in November—possibly more than 400,000. December is shaping up to be a bad month as well. The rate of layoffs should slow next year as economic stimulus begins to kick in, but modest monthly declines could continue well into 2010. "Let's get real. These numbers are horrible," says Ellen Zentner, senior U.S. economist for Bank of Tokyo-Mitsubishi UFJ in New York. More here
New jobless claims drop unexpectedly
New claims for jobless benefits fell unexpectedly last week but the number of people continuing to receive government aid reached a 26-year high and large companies announced more job cuts Thursday. More here
People draw unemployment benefits at 26-year high
More evidence of consumers' weary state and the nation's deteriorating job market came Thursday with reports that people continuing to draw unemployment benefits climbed to a 26-year high, while retail sales and orders to U.S. factories sank. More here
Stocks finish higher despite dismal economic data
Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher after investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance. More here
It's official: U.S. in recession all of 2008
It took seven economists 11 months to decide what should seem obvious given all the foreclosures, bank failures and layoffs - the United States is officially mired in a recession. More here
Details of plans to tackle Calif's budget deficit
Here are snapshots of various proposals to close California's $11.2 billion budget deficit. The details are from proposals released by Gov. Arnold Schwarzenegger and Democrats in the state Legislature, and general ideas recommended by Republicans, who have not released a detailed plan. More here
Higher Unemployment Will Continue To Strain Prime Borrowers
NEW YORK -(Dow Jones)- Mortgage lenders, credit card issuers and auto lenders are waiting anxiously to see new data on unemployment due out on Friday. More here
Schwarzenegger declares fiscal emergency
Gov. Arnold Schwarzenegger declared a fiscal emergency on Monday and called lawmakers into a special budget session, warning that California was in danger of running out of daily operating cash within two months. More here
We need a big green jobs machine
Amid the pressures of the global financial crisis, some ask how we can afford to tackle climate change. The better question is: Can we afford not to? More here
U.N. Sect'y General Calls For Green Jobs
Amid the pressures of the global financial crisis, some ask how we can afford to tackle climate change. The better question is: Can we afford not to? More here
Jobless claims down from 16-year high
NEW YORK (CNNMoney.com) -- The number of Americans filing new unemployment insurance claims edged down from a 16-year high, but remained elevated above the half-million mark. More here
President-elect Names His Budget Director
President-elect Obama appointed his new budget director today and ordered him to reform a federal budget that "bleeds billions" to help pay for the massive bailout of the economy. More here
Obama, Democrats plan $500B economic package
Congressional Democrats and President-elect Barack Obama are laying the groundwork for quick enactment in January of a giant, two-year economic rescue package that will total about a half-trillion dollars. More here
Federal deficit could hit $1 trillion this year
Budget hawks were aghast when the federal deficit hit a record $455 billion in fiscal 2008, more than double the previous year. More here
Economy's tumble even worse than expected in 3Q
The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession. More here
Job centers see crush of people in need
FORT LAUDERDALE, Fla. — They have little in common: Ron Jones, 52, short and strong, a union carpenter with decades of work experience; and Jerome Grant, 20, tall and thin, a Jamaican immigrant with a degree in culinary arts. But the economy has pushed them to the same difficult place.
More here
Obama team outlines economic stimulus package
FORT LAUDERDALE, Fla. — They have little in common: Ron Jones, 52, short and strong, a union carpenter with decades of work experience; and Jerome Grant, 20, tall and thin, a Jamaican immigrant with a degree in culinary arts. But the economy has pushed them to the same difficult place.
More here
Obama team outlines economic stimulus package
President-elect Barack Obama signaled Sunday he will move urgently and aggressively to rescue the plunging economy, demanding swift passage by Congress of a massive two-year spending and tax-cutting recovery program. More here
Obama warns economy likely to get worse
CHICAGO - President-elect Barack Obama on Monday unveiled his economic team and warned that "the economy is likely to get worse before it gets better." More here
Tough times in Silicon Valley, but some hiring
The good times are rolling to a halt in Silicon Valley, at least for awhile.
Since the stock market crashed, many of the area's biggest employers - including Cisco, Intel, Applied Materials, AMD, Microsoft, Intuit, Sun Microsystems, Symantec, eBay, Google, Yahoo and SAP - have announced layoffs, cost cuts or, in some cases, both because their customers aren't spending enough. More here
State gets federal grants for job training
Competition for jobs in California will grow with Friday's report that the unemployment rate is its highest in 14 years, but Gov. Arnold Schwarzenegger announced job training grants this week for regions hard hit by the downturn and programs for veterans, many of them returning from war in Iran and Afghanistan. More here
Fed officials weigh in on economy's weakness
The U.S. economy's weakness will stretch well into next year, a Federal Reserve official warned Friday. More here
Congress OKs 2nd extension of jobless benefits
Good news for the unemployed: Congress has passed a bill that provides a second round of extended jobless benefits to people who exhaust their regular benefits and their first round of extended benefits, which was approved in July...More here
State unemployment takes big jump to 8. 2 %
California's unemployment rate jumped to 8.2 percent in October and employers cut 26,400 nonfarm payroll jobs as the global financial crisis punished the state and exacted its heaviest toll on the struggling Central Valley...More here
Calif. unemployment rate rises to 8.2 percent
State officials say California's unemployment rate jumped to 8.2 percent in October from 7.7 percent in September...More here
Maximum weekly unemployment benefits by state
A look at the maximum weekly unemployment benefits available in each state. More here
Congress extends jobless benefits, stocks sink
Jarred by new jobless alarms, Congress raced to approve legislation Thursday to keep unemployment checks flowing through the December holidays and into the new year for a million or more laid-off Americans whose benefits are running out. More here
Meltdown 101: Some tips on collecting unemployment
The numbers are alarming — Citigroup alone plans to lay off 53,000 people...More here
Stocks open lower after jobless claims jump
Fresh worries about widening unemployment are adding investors' list of concerns about the economy and are weighing on stocks in early trading. More here
Fed sees economic woes persisting into next year
Pounded by a fierce financial crisis, the country is sinking deeper into economic despair that has pushed the number of newly laid-off workers to a 16-year high, with problems likely to stretch well into next year. More here
Jobless claims jump unexpectedly to 16-year high
New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year. More here
Senate takes last run at longer jobless benefits
Wary of playing Scrooge during tough economic times, Congress is defying President George W. Bush's veto threat and considering extending unemployment benefits to the nation's growing jobless masses...More here
Lines Grow At U.S. Unemployment Offices
The number of Americans who applied for unemployment benefits for the first time hit a 16-year high last week, pushing the rolling herd of jobless citizens receiving this type of government aid to its highest level in 26 years...More here
Bush backs extending unemployment benefits: White House
The White House said on Thursday that President George W. Bush supported legislation...More here
Congress Looks To Dec For Autos, Food Stamps, Unemployment
A top House Democrat on Tuesday said an unemployment extension, food stamp increases, and assistance for the floundering auto industry may have to wait until next year...More here
High Long-Term Unemployment No Surprise
Congress is considering increasing the length of time unemployed workers can collect unemployment insurance (UI) benefits..More here 
As the economy falters, be prepared for a layoff
The numbers are grim enough to make anyone wince. Last month the unemployment rate in the United States reached 6.5 percent, its highest level in 14 years. Even worse, many economists are predicting that the jobless rate will climb all the way to 8 percent in 2009..More here
Meltdown 101: What's deflation, and why is it bad?
Deflation might sound like a good thing. Yet it can be even rougher on the economy than the more familiar phenomenon of inflation, because it's harder to get rid of. More here
The next bailouts
Once Congress and the Bush administration agreed to fund financial institutions to the tune of $700 billion, an army of industries, businesses and nonprofit entities have swarmed Capitol Hill to say "me, too." More here
Economists say recession is here, and will last
The global economy has plunged into a deep recession that may be longer than the average downturn, according to two surveys of U.S. economists that echo similar declarations from authorities in Europe and Japan. More here
Economic Stimulus: Unemployment Benefits and Infrastructure Spending... More here
Forecasters: tough road ahead for the economy
The country is sinking deeper into the economic doldrums, and it's likely to stay there for a while. More here
Citigroup to shed another 53,000 jobs
Citigroup Inc. is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. More here
Initial jobless claims at 7 year highs Jobless claims for Jan. 2009 will be close to 10%...More here
Budget Crisis 2008-2009 Newly proposed budget cuts would drastically impact California's public schools...More here
Budget deficit hits record, jobless claims surge... of Business at California State University. In more grim economic news released Thursday, the number of newly laid-off workers applying for jobless ... More here
Jobless claims jump unexpectedly to 7-year high
The number of newly laid-off individuals seeking unemployment benefits has jumped to a level not seen since just after the Sept. 11, 2001, terrorist attacks, as companies cut more jobs in the face of a slowing economy. More here
Mayors, governors prod Congress for financial help
The nation's mayors and governors are prodding Congress to jump-start the economy by increasing food stamp payments, extending unemployment insurance and boosting funding for Medicaid. More here
Stocks drop after jobs data, Wal-Mart outlook
Wall Street extended its sharp declines into a fourth day Thursday, with the Dow Jones industrials briefly dropping below 8,000 as investors continued their selling amidst a stream of negative economic news. More here
Legislative analyst calls the situation 'truly awful'
SACRAMENTO – The state faces a staggering $27.8 billion budget deficit with annual shortfalls exceeding $20 billion through the summer of 2014 and perhaps longer, the nonpartisan Legislative Analyst's Office warned yesterday. More here
Yum Brands cuts jobs as it sells owned restaurants
LOS ANGELES (Reuters) - Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) will cut "several hundred" jobs as it sells company-owned KFC and Pizza Hut restaurants to franchisees and restructures its U.S. business, a spokesman for the fast-food chain said on Wednesday. More here
National Semiconductor Cuts Forecast, Trims 330 Jobs
Nov. 12 (Bloomberg) -- National Semiconductor Corp., the maker of chips for the five largest mobile-phone manufacturers, reduced its revenue forecast and said it will cut about 5 percent of workers amid the global economic slowdown. More here
Receiver says prison construction plan would boost economy California's prison medical czar tried to sell his $8 billion construction plan Tuesday as providing a much-needed financial jolt for a struggling state economy. More here
AP poll: Public seems willing to wait on tax cuts
People want the tax cuts promised during the presidential campaign, but may be willing to wait while President-elect Obama takes on the larger issue of fixing the economy. More here
The Job-Eating Economy
Recent unemployment numbers shocked economists and sent the markets falling. Don't expect positive news for a long time. More here
Unemployment: How to Slow the Bleeding
In crafting a spending plan, federal officials must choose between measures that give a fast lift to the economy and those that create sustainable new jobs. More here
How Obama Can Fix the Economy
I'm mystified by all the hand-wringing about what a terrible time it is to be a new U.S. president.
Think of the presidents who have been judged by history to be truly great -- Abraham Lincoln, Franklin Roosevelt, George Washington -- and they've all served in times of crisis. But imagine what it would be like to be president when the crisis first unfolds, such as Herbert Hoover or now George Bush. More here
Quick fix for state budget problems a long shot
Don't bet on Gov. Arnold Schwarzenegger and the Legislature solving California's budget mess in a special legislative session this month, even if their failure to act would worsen the state's fiscal crisis, political and economic experts say. More here
How to get a job in the Obama administration
If Barack Obama inspired you so much that after voting for him you now want to work for him, there are thousands of jobs to be had in the new administration. More here
Job seekers adjusting to unemployment
From a middle-class neighborhood in Cincinnati to a trendy enclave of Atlanta, growing numbers of Americans are adjusting to being unemployed - and the realization that neither their jobs nor the economy are coming back any time soon. More here
State's unemployment fund is going dry
The latest victim of California's notoriously bad budgeting? The state unemployment insurance fund - just at the moment struggling Californians need it most. Unless the governor and Legislature take fast action, projections show that the fund will be insolvent in 2009. Meanwhile, the state's unemployment rate stands at 7.7 percent - and growing. More here
Deutsche Post to cut 9,500 jobs in the U.S.
FRANKFURT, Germany - Deutsche Post AG will close all of its DHL Express service centers, cut 9,500 jobs in the United States and eliminate U.S.-only domestic shipping by land and air, the company said Monday, citing heavy losses and fierce competition. More here
Obama to meet economic advisors after grim jobs data
CHICAGO (Reuters) - President-elect Barack Obama prepared to meet his economic advisers on Friday as new U.S. jobless figures underlined the enormity of the task confronting him to stabilize an economy that is shedding jobs fast. More here
Vanishing jobs, stressed consumers feed downturn
Ford plans to cut about 2,260 more jobs, the latest in a vicious cycle of vanishing jobs and stresses on American consumers that is spelling deeper trouble for the already sinking U.S. economy. More here
Obama calling on economic experts for their advice
President-elect Obama is calling on economic experts to discuss the first steps toward healing a damaged economy as he forms a new administration in the face of a worsening crisis. More here
Jobless rate bolts to 14-year high of 6.5 percent
The nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, far worse than economists expected and stark proof the economy is deteriorating at an alarmingly rapid pace. More here
Governor: Tax hikes, spending cuts to fix budget
Gov. Arnold Schwarzenegger called Thursday for the Legislature to convene a special session to approve his plan to overcome the state's projected $11.2 billion revenue shortfall by raising billions of dollars in new taxes and making major spending cuts. More here
Longer-term jobless benefits hit 25-year high
The number of out-of-work Americans drawing unemployment benefits has surged to a 25-year high, while shoppers turned extra frugal, further proof of the damage from sinking economy, credit problems and financial stresses. More here
Governor: Tax hikes, spending cuts to fix budget
Gov. Arnold Schwarzenegger today called for a special legislative session to fix the state's estimated $11.2 billion shortfall, proposing tax increases as well as spending cuts in education, health care and welfare payments to bridge the growing deficit. More here
Business groups urge Obama to push stimulus
Barack Obama rode a wave of economic discontent to the White House and now faces the daunting task of turning the weakening economy around. More here
Obama May Not Wait for Inauguration to Put His Stamp on Economy
Barack Obama will transform a U.S. economy reeling from the worst financial crisis since the Great Depression -- and he may not wait until Inauguration Day to get started. More here
Is today's economic crisis another Great Depression?
Failed banks. Panicked markets. Rising unemployment. For students of history, or people of a certain age, it all has an all-too-familiar ring. Is this another Great Depression? Not yet. More here
After election, new president has to wait 77 days
The world is anxiously awaiting new ideas and fresh leadership from America's new president to deal with the economic crisis that has encircled the globe with sickening speed. Unemployment is climbing, the stock market has plummeted and businesses are teetering. More here
Jobless report likely to influence stocks
Wall Street's steep gains in the final days of October are leaving some investors optimistic that the market has put its scariest days behind it, but they're still wary about the land mines that could send stocks reeling again. More here
Few options remain when job insurance disappears
Leah Smith shells out more than $730 a month for health insurance but you won't hear her complaining. More here
Circuit City closing 155 stores
RICHMOND, Va. -- Circuit City Stores Inc. said Monday it is closing about 20 percent of its U.S. stores -- cutting thousands of jobs -- in an effort to return to profitability as it finds consumers reluctant to spend and its vendors less eager to give it credit. More here
Economic downturn may be picking up speed
The latest economic data provide mounting evidence that the collapse of the housing market and turmoil in financial markets have tipped the U.S. economy into recession. The question now on the minds of consumers, business owners and politicians: How deep is it going to be, and how long is it going to last?
Employment costs post modest gain in 3rd quarter
Wages and benefits paid to U.S. workers rose by a moderate amount in the third quarter, the government said Friday, matching analysts' estimates. More here
Motorola posts $397-million loss; plans to slash 3,000 jobs
Motorola Inc. posted a hefty loss in the third quarter Thursday, citing the continued troubles of its cellphone division. The company will postpone the planned spin-off of the unit and cut more jobs. More here
The Fed's rate at zero? It's no longer a far-fetched idea
Just a day after the Federal Reserve dropped its key short-term interest rate to 1% -- matching the generational low reached in 2003-04 -- the betting is intensifying on another cut. More here
Jobless claims remain elevated due to weak economy
New claims for unemployment benefits were unchanged last week, remaining at the same elevated level due to the struggling economy, the government said Thursday. More here
Economy shrinks as consumers cut back on spending
The government reported Thursday the economy shrank in the summer, the strongest signal yet that a recession may have already begun, a day after the Federal Reserve slashed a key interest rate to battle an economic downturn. More here
American Express to cut 7,000 jobs
In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009. More here
Inland Empire economic outlook is grim
A panel of economists today offered grim predictions for the Inland Empire economy, including a rise in unemployment, a slide in manufacturing and a wave of foreclosures likely to continue for another two years. More here
Meltdown 101: Why is there a Federal Reserve?
The Federal Reserve System, the nation's central bank, was created in 1913 with two specific charges: promoting maximum sustainable employment and keeping inflation low. More here
Consultant: GM-Chrysler deal may cost 25,000 jobs
If General Motors Corp. acquires Chrysler LLC, it will cost 25,000 to 35,000 jobs at the automakers, according to a Michigan consulting firm. More here
College tuition rose faster than inflation yet again
Tuition and fees at U.S. colleges rose faster than inflation during the last school year, part of a 30-year trend that is swelling demand for financial aid. More here
Financial Crisis Spawns More Pink Slips
For Jack Needles, life was just getting back on track. Laid off in 2002 from a large insurance firm, Needles spent four of the last six years working his way up from a customer service position back to the type of business analyst job he was trained to do. He endured a steep drop in income, almost lost his house and ended up with credit problems that he was just putting behind him. More here
Confidence report: One in five expects a drop in income
Among the most distressing numbers in the dismal October consumer confidence report today are the ones measuring Americans’ expectations of their future income. More here
Fed weighs another rate reduction to limit fallout
Disappearing jobs, burrowing consumers and skittish companies are reasons for the Federal Reserve to lower interest rates and brace the tottering economy. More here
Whirlpool to cut 5,000 jobs by end of 2009
Whirlpool Corp. said Tuesday it will cut about 5,000 jobs by the end of 2009, due in large part to the long downturn in the U.S. housing market. More here
Where McCain, Obama stand on the issues
The plans of presidential candidates are never set in stone, if only because circumstances and the makeup of Congress change after the election. The uncertainty is even deeper in this election because Democrat Barack Obama and Republican John McCain laid out most of their agenda before the government committed up to $700 billion to address the financial crisis.
Stockton's Women's Center suffers in downturn
Administrators at the Women's Center of San Joaquin County say the number of clients has increased 30 percent over the past six months. More here
House panel heaps blame on Alan Greenspan for financial crisis
Reporting from Washington -- As Federal Reserve chairman, Alan Greenspan testified before Congress on dozens of occasions over almost two decades. Time after time, lawmakers hung on his every word, soliciting the wisdom of "the Oracle" on the economy. More here
Job losses up, and worst is yet to come
Unemployment claims, already well into recession territory, are rising even faster than expected, leading economists to warn Thursday that the worst is yet to come. More here
Next stimulus should focus on infrastructure
The $600 rebate checks provided by the federal stimulus package earlier this year may have been popular among taxpayers, but many economists think any future effort should focus on infrastructure spending and other targeted measures. More here
The $600 rebate checks provided by the federal stimulus package earlier this year may have been popular among taxpayers, but many economists think any future effort should focus on infrastructure spending and other targeted measures. More here
Yahoo to cut at least 1,500 jobs
Yahoo Inc. said today that it plans to cut at least 1,500 jobs as part of a broader effort to reduce costs amid a slumping business, investor discontent and global economic turmoil. More Here
Oakland training people for green-tech jobs
Oakland officials kicked off a new training program Monday to turn underemployed workers into qualified candidates for jobs in the budding green-technology field. More here
An effort to boost the economy with a massive injection of public funds gained momentum Monday, as Federal Reserve Chairman Ben Bernanke tentatively endorsed the idea of a new stimulus package and the Bush administration softened its opposition. More here
2009 College graduates face tough job climate
This year's college graduates will probably have a tough time finding jobs, even if they have stellar credentials, as employers start to feel the full brunt of the economic crisis in the next few months. More here
This year's college graduates will probably have a tough time finding jobs, even if they have stellar credentials, as employers start to feel the full brunt of the economic crisis in the next few months. More here
How to bounce back from unemployment
Ken Greenberg spent nearly two years unemployed, feeling depressed and wondering if he would ever land a good job again. Finally, he realized he needed to reinvent himself. More here
S.F. nonprofit feeds hunger for computer basics
Unemployed machinist Chris Vincent has no experience with computers, he says - unless you count Nintendo. More here
THE ECONOMY IN TURMOIL
The Great Depression - how close are we?
Americans binge on credit in a mania of speculation and consumption until the debt-fueled bubble bursts. Wall Street has a meltdown, the mania turns to hysteria, and the economy goes haywire. More here
Bernanke gives nod to more government stimulus
Federal Reserve Chairman Ben Bernanke told Congress Monday a fresh round of government stimulus is a good idea because there's a risk the country's economic weakness could last for some time. More here
California unemployment rate steady at 7.7 percent
California's jobless rate held steady at 7.7 percent in September, remaining for a second month at its highest level since March 1996, according to the latest state figures released Friday. More here
State jobless rate holds steady at 7.7%
California employers cut nonfarm payrolls by 11,600 jobs in September as the unemployment rate held steady at 7.7 percent for the second month in a row, according to figures released Friday by the state Employment Development Department.
Meltdown 101: Jobless claims and the economy
Initial jobless claims dropped last week by 16,000 to 461,000, the government said Thursday, and that's good — but they're still high by historical standards, which is bad.
A look at recent US recessions
Many Americans have forgotten what a deep recession feels like. In recent years, periods of economic expansion have lasted longer, and recent downturns have been relatively short and shallow. A look at the most recent recessions in the U.S. More Here
Silicon Valley foundation helping families
One of the nation's largest community foundations has decided to triple its efforts to help families hit hardest by the economic crisis. More here
Financial Jitters Spur Interest in Jobs Abroad
The financial crisis, a weak economy and increased competition for jobs are sending some professionals running for the border -- literally. More here
One of the nation's largest community foundations has decided to triple its efforts to help families hit hardest by the economic crisis. More here
Financial Jitters Spur Interest in Jobs Abroad
The financial crisis, a weak economy and increased competition for jobs are sending some professionals running for the border -- literally. More here
Pelosi says $150B economic stimulus plan needed
House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it. More Here
Schwarzenegger warns of more cuts to state budget
Gov. Arnold Schwarzenegger warned Tuesday of future cuts to the state budget that was signed into law just two weeks ago and insisted something must be done to address California's mounting financial problems. More here
Why Edmund Phelps' Economic Theory Matters
On Oct. 9, Edmund S. Phelps, 73, of Columbia University, was named the winner of the 2006 Nobel Prize in Economics. Or, as it is officially known, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel [Sveriges Riksbank is Sweden's central bank, which funded the prize in 1968]. More here
Inner-city Economics
House approves extension of jobless benefits
The House voted Friday to extend unemployment benefits to those who have exhausted their current benefits. The vote came hours after learning that the nation's payrolls were continuing to shrink and after the House had approved a massive financial rescue plan for Wall Street. More Here
Steepest job losses in five years reported
Labor Department survey shows cuts in most sectors of the economy, raising recession fears. Experts expect the trend to continue. More Here
Reversal of fortune: House approves $700-billion bailout bill
WASHINGTON -- The House today approved a $700-billion financial rescue plan -- sweetened by $110 billion in tax cuts -- on a 263-171 vote four days after rejecting it in a move that stunned both Wall Street and Washington. More Here
Schwarzenegger to U.S.: State may need $7-billion loan
SACRAMENTO -- California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks. More Here
Weak economy pushes jobless claims to 7-year high
More people than expected lined up at the unemployment lines last week and orders to U.S. factories plunged by the largest amount in two years, according to government data released Thursday. More Here
Stocks decline on unemployment, factory reports
Pessimism about a protracted economic downturn washed over the financial markets Thursday, sending stocks plunging and further tightening the credit markets. News of declining factory orders and a seven-year high in jobless claims stoked fears that the government's financial rescue plan won't ward off a recession, and the Dow Jones industrials skidded nearly 350 points. More here
Governor sets record for vetoing bills
A week after he signed the tardiest budget in state history, Gov. Arnold Schwarzenegger set another record: He vetoed the largest percentage of bills this year of any California governor in four decades. More here
Money stress puts strain on small businesses' employees
Falling home prices, shrinking 401(k)s and job insecurity can affect performance. Story Here
Governor vetoes 131 bills, with hundreds to go
Facing a Tuesday night deadline, Gov. Arnold Schwarzenegger continued to work his way through a stack of legislation on his desk Sunday, vetoing twice as many measures as he signed. More here
UCLA economists issue gloomy California forecast
The state's housing sector will bottom next year, but its broader economy will struggle for months after that, the UCLA Anderson Forecast says. Story Here
Schwarzenegger signs record-late state budget
Gov. Arnold Schwarzenegger signed a $103.4 billion general-fund spending plan Tuesday in his office with little fanfare, officially ending the state's longest-ever budget delay at 85 days. More here
Governor Expected To Sign Budget Today
The governor's press secretary Aaron McLear said the $143 billion spending plan will be signed in Schwarzenegger's office without the usual public ceremony. Story Here
Immigration boom slows as country's economy falters
WASHINGTON - The wave of immigrants entering the United States slowed dramatically last year as the economy faltered and the government stepped up enforcement of immigration laws. Story Here
India's Corporations Race to Train Workers and Avoid Being Left in ...
Story here
Overriding Schwarzenegger's promised budget veto won't be simple
Story here
Overriding Schwarzenegger's promised budget veto won't be simple
Lawmakers who assumed an override of a governor's budget veto would be easy learned differently Wednesday. Story Here
Unions already looking to repeal portions of budget deal
Before the ink was even dry on a new state budget, some labor leaders were already talking about going to the ballot to repeal a key provision of the deal. Story Here
Governor Says He Will Veto Budget
SACRAMENTO, Calif. -- Gov. Arnold Schwarzenegger said he will veto a compromised budget deal that was passed by lawmakers early Tuesday. Story Here
Calif. lawmakers end record-setting budget impasse
California lawmakers early Tuesday ended the longest budget impasse in state history, approving a roughly $145 billion spending plan that relies on accelerated income tax payments rather than borrowing or new taxes. Story Here
California lawmakers early Tuesday ended the longest budget impasse in state history, approving a roughly $145 billion spending plan that relies on accelerated income tax payments rather than borrowing or new taxes. Story Here
Hewlett-Packard to cut 24,600 jobs
Hewlett-Packard plans to shed 24,600 jobs, or 7.5 percent of its workforce, as it incorporates the recently acquired Electronic Data Systems Corp. into its technology services business. Story Here
Unemployment Fund Running Out Of Money
Jobless Rate At 7.3 Percent
SACRAMENTO, Calif. -- As California's unemployment rate hits a 12-year high, the state program that pays benefits to the jobless is facing a severe money shortage and a huge backlog of unresolved appeals.
Walters: Capitol's Budget Battle is Going Nowhere Fast
So where is the Capitol's struggle with a long-overdue, deficit-ridden state budget headed? Nowhere – fast. Sometime this week, perhaps already, the drop-dead date for placing measures on the November ballot passes, thus adding another level of complexity to the multi-sided political struggle over whether the $15.2 billion deficit in the 2008-09 budget will be closed by new taxes, spending cuts, more loans or some combination thereof. Article Here
Los Angeles County Poverty Rate Fell in 2007, Census Data Show...
Poverty across Southern California declined significantly during the first seven years of the decade, a period marked by a booming economy, gentrifying neighborhoods and soaring housing prices, according to census data released Tuesday. Read More Here
So where is the Capitol's struggle with a long-overdue, deficit-ridden state budget headed? Nowhere – fast. Sometime this week, perhaps already, the drop-dead date for placing measures on the November ballot passes, thus adding another level of complexity to the multi-sided political struggle over whether the $15.2 billion deficit in the 2008-09 budget will be closed by new taxes, spending cuts, more loans or some combination thereof. Article Here
Los Angeles County Poverty Rate Fell in 2007, Census Data Show...
Poverty across Southern California declined significantly during the first seven years of the decade, a period marked by a booming economy, gentrifying neighborhoods and soaring housing prices, according to census data released Tuesday. Read More Here
Algebra 1 requirement highlights teacher shortage
Now that the state has mandated Algebra 1 for all eighth-graders within three years, a deeply entrenched problem has become even more urgent: California does not have enough qualified teachers of mathematics. Article Here
California's unemployment rate rises to 7.3%
Nearly 15,000 jobs were lost in July because of ongoing slowdowns in construction, real estate and financial services. Article Here
Assembly votes down budget plan
California lawmakers finally voted on a state budget Sunday – but it died a partisan death. The Assembly vote broke new ground only because it represented the first tally on a new spending plan, 48 days after the start of the fiscal year story here
California lawmakers finally voted on a state budget Sunday – but it died a partisan death. The Assembly vote broke new ground only because it represented the first tally on a new spending plan, 48 days after the start of the fiscal year story here
Student aid requests soar as economy plummets
Record numbers of college students are lining up for financial aid - and asking for more of it - as the nation's economic woes hit campuses across the country Story Here
Numbers add up for accounting majors
Enrollment is up, one of the accounting lecturers has twice been named professor of the year, and several dozen students spent their summer mornings in a class poring over a 3-inch-thick tome titled "Federal Taxation." Story Here
Oakland port to eliminate 100 jobs
The Port of Oakland is cutting 100 jobs, representing about 15 percent of all positions, in its biggest reduction in force in recent memory. Story Here
State wage cuts not needed, Chiang tells California Senate Committee
State workers, their unions and other officials warned legislators Monday that Gov. Arnold Schwarzenegger's plan to slash state worker pay during a budget impasse will disrupt lives while doing little to ease a supposed cash crunch. Story here
Schwarzenegger proposes tax increase
State workers, their unions and other officials warned legislators Monday that Gov. Arnold Schwarzenegger's plan to slash state worker pay during a budget impasse will disrupt lives while doing little to ease a supposed cash crunch. Story here
Schwarzenegger proposes tax increase
Gov. Arnold Schwarzenegger has proposed a temporary one-cent increase in the state sales tax for the next three years in exchange for long-term fixes he believes would solve the state's perennial budget woes, several sources familiar with the negotiations said Monday. Story here
Dan Walters: Local officials also weigh new tax hikes
As Gov. Arnold Schwarzenegger and legislators confront a projected $15.2 billion budget deficit and weigh whether to impose new taxes to close it, local governments throughout California are contemplating a wide array of new taxes to close their shortfalls or expand local services and facilities. story here
Schwarzenegger orders cuts amid fiscal crisis
As Gov. Arnold Schwarzenegger and legislators confront a projected $15.2 billion budget deficit and weigh whether to impose new taxes to close it, local governments throughout California are contemplating a wide array of new taxes to close their shortfalls or expand local services and facilities. story here
Schwarzenegger orders cuts amid fiscal crisis
Gov. Arnold Schwarzenegger on Thursday, trying to avoid a "full-blown" financial crisis in California, eliminated 22,000 part-time and temporary positions and ordered that 200,000 state workers receive the federal minimum wage. Article Here
Jobs outlook weak as state's unemployment rate hits 6.9% in June
SACRAMENTO -- California's jobless rate crept ahead Friday as experts saw weakness spreading into new areas of the economy.
For months, job losses were concentrated in the state's housing industry. But with June's increase of one-tenth of a percentage point to 6.9%, it was evident that a broader downturn is underway. Story Here
California bill would extend jobless benefits in drought areas
California lawmakers are considering legislation to expand unemployment benefits for workers who have lost their jobs due to the state's drought. click Here
College to expand program on solar-panel installation
Skyline College in San Bruno is renewing a successful solar-installation program for the fall and plans to expand its curriculum in response to the growing alternative-energy market.
The program trains students to become certified solar installers and is funded by a grant of about $450,000 from the California Community Colleges Chancellor's Office, organizers said. StoryHere
Undocumented students have a degree of anxiety
He took 15 AP classes in high school, and kicks himself for passing up two others. Now, he is graduating from UCLA, with a double major in English and Chicano Studies and a B-plus grade point average. Story Here
IndyMac to exit most home lending, slash 3,800 jobs
IndyMac Bancorp, once a leader in the nontraditional home loans that helped drive the housing boom, all but quit the mortgage business Monday and said it would lay off 3,800 people, more than half its staff, in the wake of growing defaults by borrowers. Story Here
Stellar grads of L.A. Unified tell their stories
Some students overcame addiction, financial issues and family problems on their way to becoming standouts. Story Here
Occupying Idle Teen Hands
Cities are fighting the highest youth unemployment rate in decades
Click Here
Australia - New Workforce Development Policy
Head of Government Policy Think Tank Calls on the Victorian and ...
This means the introduction of contingent loan scheme for vocational and technical education in the same form as has been developed for Universities and the ...
Click Here
Cities are fighting the highest youth unemployment rate in decades
Click Here
Australia - New Workforce Development Policy
Head of Government Policy Think Tank Calls on the Victorian and ...
This means the introduction of contingent loan scheme for vocational and technical education in the same form as has been developed for Universities and the ...
Click Here
Going to Work with a Criminal Record
Going to Work with a Criminal Record was developed to help meet this need. The report describes seven fundamental lessons workforce organizations should consider as they help formerly incarcerated people move toward stable employment, along with a more detailed discussion of how program staff can put these lessons into practice. Read more...
Critical Skills Needs and Resources for the Changing Workforce report is based on a survey that asked HR professionals and employees about the various skills, activities and content areas needed in today’s workplace. Findings related to critical employee skills, provision of skills training and professional development, and employee preference and effectiveness ratings of training formats are presented and analyzed by organizational characteristics and employee demographics. To download, click here.
Chapman University forecasters say U.S. is in recession
Critical Skills Needs and Resources for the Changing Workforce report is based on a survey that asked HR professionals and employees about the various skills, activities and content areas needed in today’s workplace. Findings related to critical employee skills, provision of skills training and professional development, and employee preference and effectiveness ratings of training formats are presented and analyzed by organizational characteristics and employee demographics. To download, click here.
Chapman University forecasters say U.S. is in recession
As housing prices continue to tumble in most regions, forecasters from Chapman University said Tuesday that the U.S. economy had fallen into a recession that wouldn't ease until next year. Story Here
High-tech workers' pay double S.D. average
San Diego County's high-tech employees earned twice as much as the average private-sector worker in 2006, which ranks the region among the most lopsided nationwide for salaries in tech versus other jobs. Story Here
Dan Walters: Could California budget gap get wider?
The sharp spike in unemployment to 6.8 percent reported last week, coupled with dark numbers on other economic indicators, intensifies that fear. But leading economists disagree on whether California is seeing a bottom to its economic woes, whose proximate cause is the residential real estate collapse, or the worst is yet to come. Story Here
For teens, only the cool jobs need apply
It could be the rhinestone stud in her cheek, her thin resume, or her unwillingness to interview before noon, lest job-seeking disrupt her gym routine or interrupt her beauty sleep.
Community colleges see enrollment surge
After Portland Bates was laid off from his job at a student loan company last summer, his first thought was, “How am I going to pay my bills?” story here
Job seekers, union seek a jackpot
When it opens its doors to anticipated throngs of gamblers later this year, Red Hawk Casino will instantly become El Dorado County's largest private employer. The casino also is a prime target of a fastgrowing union. More Here
International Labor Shortages
The workforce crisis is international...click here for stories from Australia and the Middle East.
The workforce crisis is international...click here for stories from Australia and the Middle East.
GAO Report
The Senate Committee on Health, Education, Labor, and Pensions requested that the GAO review community colleges’ roles in workforce training and the nation’s workforce system. They examined (1) how community colleges meet the workforce training needs of their communities; (2) what community colleges do to integrate with thenation’s one-stop system; (3) the conditions or practices that enhance or impede these efforts; and 4) the actions Labor and Education have taken toencourage linkages between community colleges and the workforce investment system,
including one-stops. Click here for report.
including one-stops. Click here for report.
Governor's May Revise
GOVERNOR'S REVISED BUDGET
Click below to review the Governor's proposed revised budget,
released May 14, 2008, for the 2008-09 fiscal year. The budget
gap is currently at $17.2 billion.
www.ebudget.ca.gov/
GOVERNOR'S REVISED BUDGET
Click below to review the Governor's proposed revised budget,
released May 14, 2008, for the 2008-09 fiscal year. The budget
gap is currently at $17.2 billion.
www.ebudget.ca.gov/
GOVERNOR'S REVISED BUDGET FOR
LABOR AND WORKFORCE DEVELOPMENT
