People@Work: As Spring Blossoms, So Does the Nation's Jobs Outlook

[NJmaverick]

As the economy continues to brighten, a growing number of employers are once again hiring. What's more, the gains aren't limited to certain sectors. Rather, a broad swath of companies within the Fortune 500 -- from health care providers to retailers to defense contractors to insurers -- are looking to fill 60,000 openings.

The businesses include some of the best known in the U.S., such as Sears Holdings (SHLD) which is looking to fill nearly 22,000 positions; HCA and Northrop Grumman (NOC), 4,000 each; UnitedHealth Group (UNH), 3,200; and New York Life, more than 3,500, according to Fortune.

The uptick is being driven in part by better-than-expected profits that are helping to fill corporate coffers. Among big banks, many of which laid off thousands of workers after the 2008 financial crisis, JPMorgan Chase (JPM), the nation's second-largest bank, has announced plans to hire nearly 9,000 new employees.

Technology Is Hiring Again

Other big banks are likely hiring, too, says John Challenger, CEO at Challenger, Gray & Christmas, a Chicago-based employment services firm. Looking strictly at operating income, he says, "many of those banks are doing very well and the earnings statements that came out prove that."

http://www.dailyfinance.com/story/careers/people-work-as-spring-blossoms-so-does-the-nations-jobs-outlo/19452266/?icid=main#

[babylonsister]

1. Great news! Rec'd!! nt

[rfranklin]

2. One has to wonder where these banks will find bigger profits...

They would seem to be restricted from getting fat on overdraft and credit card fees. The real estate market is still in the dumper with little hope of reinflating the bubble. So, it is a mystery as to where they will find new sources. Of course, they did show plenty of ingenuity with the Credit Default Swaps...

[Aramchek]

3. where's the dude who said that a Jobless Recovery is no Recovery??

Guess this bit of information doesn't fit into his 'reality'

[NJmaverick]

4. It appears they are busy unreccing the story as they truth is not something they

want leaking out. Better to listen to the negative propaganda

[babylonsister]

9. Hey, I tried. If I didn't know better, I'd

think there were some rethugs in our midst who are upset by an improving economy. :wow:

Nah!

[rfranklin]

8. I hate to burst your bubble but this is talking about 60,000 jobs...

that might possibly materialize. It is safe to assume that these jobs, if created, would be filled over a period of months. Say the jobs are filled over a four month period, that would be 15,000 per month. Not exactly what could be called a recovery.

But these are Fortune 500 companies. Small businesses are usually the engine of job creation in this country. Latest reports are not encouraging in that sector. According to a recentWells Fargo/Gallup poll, 69% of small businesses expect no increase in their payroll while 8% say that they expect a decrease.

[Kber]

10. and the remaining 23% ? Are they adding, or are they unsure?

and how does this compare to what small businesses did during stronger economies?

[NJmaverick]

12. The poster is using data from back in January

[rfranklin]

17. 23% think they might add employees...

but numbers like that are hardly a recovery. If that number was announced as a business confidence number, the market would take a nosedive like you've never seen before.

[NJmaverick]

11. Don't worry you can't "burst my bubble" with very old data

Your survey was from back in January. Nice try though

[rfranklin]

15. I'm sure the whole economy has turned around in two months...

but as a small business person who talks daily with dozens of other small business people I have yet to hear anyone saying that business has turned around.

[NJmaverick]

19. wow, that would be THREE months not TWO

and when it comes to the economy and jobs 3 month old prediction data is nearly useless.

[rfranklin]

23. Well, you are inclined to believe a "prediction" of jobs to come...

which is probably more than three months in the future. Which is virtually useless, to quote yourself.

[Name removed]

24. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[NJmaverick]

27. It's time for you to stop clinging to your January data and start looking at the CURRENT data

that's all there is to it.

[rfranklin]

31. No concrete data in your post to look at...

Just pie in the sky predictions.

[Phx_Dem]

5. Oh no! That's bad.

:sarcasm:

:7

[NJmaverick]

6. lol! Sadly there are DUers that wouldn't consider your comments sarcasm

[Tarheel_Dem]

7. Why would anyone unrec good news for the unemployed?

:shrug:

[NJmaverick]

13. They hate to be proven wrong and are rooting for the economy to tank

would be my guess.

[Tarheel_Dem]

14. Spot on. If we can celebrate these incremental advances on a "democratic"

message board, then where the hell are we supposed to celebrate? I'm hoping to keep this kicked for the evening crew to see it.

[ipaint]

16. The big banks are now going to save us....

can they be any more obvious. :eyes:

Looks like someone hired a PR firm to start spreading the bullshit.

[rfranklin]

18. None of the "optimists" have answered my question about...

where banks are going to find this new income. They are living on the handouts from the government, borrowing free money and buying Treasuries for a guaranteed return and trading with each other, bidding up the stock market.

[ipaint]

20. And keep in mind this has been considered "good times" for the last 20 years.

"The overwhelming problem today for most workers isn't this recession, as horrible as it is -- it's the fact that for every earned income level except the top 10%, average household income hasn't changed a bit for 10 years, and that for the bottom 60% of wage earners it hasn't changed for more than 20 years. Through economic expansions and recessions -- and bull and bear markets -- alike, 90% of workers in America have been standing still earnings-wise."

http://www.alternet.org/story/145950/our_dirty_little_secret%3A_who%27s_really_poor_in_america?page=entire


To your point, here is where the money comes from:

USA Today points out:

Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn't get aid, a USA TODAY/American University review found.

• Lending fell. The amount of loans outstanding to businesses and individuals fell 9.1% for the 12 months ending Sept. 30, 2009, at banks that participated in TARP compared with a 6.2% drop at banks that didn't.

• Employee pay rose. Average pay at banks getting aid rose 9.4% in the program's first year. By contrast, non-TARP banks increased salaries 1.8%.

• Cost-cutting limited. Banks in TARP cut costs less than those outside the program. Government-aided banks increased branches by 2.7% while non-TARP banks cut branches by 1.2%.

http://www.washingtonsblog.com/2007/08/unemployment.html

The banks are on a massive government assistance program as a result of committing fraud that ruined millions upon millions of people's lives and livelihoods.

Now they are going to hire 60,000 maybe. Ha!



"Please, sir, can I have some more?"

[flyarm]

21. call us when the blossoms bloom..and jobs ARE created! Not more bullshit..

Unemployment for Those Who Earn $150,000 or More is Only 3%, While Unemployment for the Poor is 31%


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8219178

[NJmaverick]

22. That would be an epic fail on attempted spin

[ipaint]

25. The fact that those who are looking for low paying jobs

are doing so in the middle of a depression is not.

[NJmaverick]

28. The FACT is that we are in neither a depression or a even a recession

as defined by Economists

[flyarm]

29. what world are you living in??????????? Nothing touches you in that fantasy world of yours does it?

[NJmaverick]

30. I am living in the world of reality. You should visit some time

:hi:

[Moochy]

36. Is it a Planned Gated Community?

spin furiously, spin!

[ipaint]

32. Members or paid employees of the top 5%.

We get it everything is hunky dory for the haves in the country.

The health of the economy is now defined solely by the financial well being of the elite, the investor class and their ever faithful lapdogs in the upper middle class.

[Peacetrain]

26. K&R Good News Coming.. better than LOOK OUT, were going over the cliff

Looks like the fundamentals are changing.. :)

[Blue_Roses]

33. this is great news!

:kick:

[Cha]

34. Toddler Steps! nt

[flyarm]

35. Hundreds of people camped out for days in the rain in Queens ..for an application for a job!

Apr 26, 2010 8:00 pm US/Eastern
Hundreds Camp Out For Job Opps In Queens
Some Arrived As Early As Friday Armed With Blankets Hoping To Get 1 Of 750 Applications For Elevator Industry Job

http://wcbstv.com/local/jobs.employment.queens.2.1657008.html

By KATHRYN BROWN, CBS 2 HD News
NEW YORK (CBS) ―

An application to work for the Joint Apprentice & Training Committee of the Elevator Industry was handed out to hundreds of people seeking jobs who camped out for days in the rain in Queens on April 26, 2010. Desperate times call for desperate measures – even if it means camping out in the rain for a chance at a job application.

Hundreds of job-seekers did just that in Queens in the hopes of landing a coveted union job.

Construction workers, engineers, electricians -- hundreds spent the weekend right here. Many left with a job application, while many others walked away empty-handed.

"The sky's the limit after this!" said Aaron Johnson of Mount Vernon.

Johnson is living month-to-month, struggling to pay the bills, with a 4-year-old daughter to support -- and he was one of the lucky ones.

After three days of sleeping on the street, he left with one of just 750 job applications handed out for a position as an elevator technician apprentice -- a secure job with pension and benefits and an earning potential up to $40 an hour.

"You don't wanna keep working these dead-end jobs, check to check to check to check. I don't want to do that anymore," Johnson said.

More than 1,000 eager applicants began lining up as early as Friday morning armed with a variety of skills -- and warm blankets.