08/18/2022

News

Why June’s Job Numbers Are Disappointing, Despite Lower Unemployment Rate

“Small businesses took a breather from hiring last month after a string of five solid, positive months,” said NFIB Chief Economist William Dunkelberg. “Growth in the first few months of the year was lousy and big firms are beginning to show signs of wear and tear, layoffs are being announced and profits are fading.”

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The June Jobs Report in 10 Charts

The slight pullback in hiring during the first quarter from its exceedingly strong pace late last year dropped the 12-month pace of job gains to 2.94 million, a solid number but nevertheless the lowest annual figure since November.

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Jobs at a Crossroads: Hiring Up, Pay Flat

The U.S. job market sits at a crossroads six years into a fitful economic expansion: Hiring is strong, but weak wage growth has failed to pull millions of would-be workers off the sidelines while prompting others to drop out of the labor force.

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Chinese Carbon Market Doldrums May Undermine Climate Efforts

Regulatory uncertainty and a lack of transparency have left trade on China’s seven pilot carbon exchanges in the doldrums, which could undermine efforts to cut the nation’s greenhouse gas emissions.

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29th Annual Survey of Corporate Executives: A Realignment of Location Priorities

Relocation plans are up slightly on a year-over-year basis. Thirty percent of the Corporate Survey respondents plan to relocate a domestic facility over the next three years (figure 26). Among the reasons cited for relocation are high taxes (44 percent) and excessive government regulations (29 percent), as well as labor availability (26 percent) and labor costs (24 percent).

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Leading Locations for 2015: Creating a Track Record of Economic Success, Denver-Aurora-Broomfield Ranks First

Area Development analyzed economic and workforce data for 373 MSAs to determine which U.S. cities are creating jobs and nurturing sustainable economic development. The results of the Leading Locations 2015 study clearly reflect the strength of the western half of the United States: eight of the top-10 MSAs are in the West — three in Colorado, two in California, two in Texas, and one in Washington State.

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City Council President Says LA Lacks Job Creation Plan, Orders New Panel to Boost Employment

For several weeks, the groups have complained City Hall isn’t focusing enough on job growth with critics contending Garcetti’s economic team, led by longtime staffer Kelli Bernard, has failed to recruit business or cut red tape for existing companies.

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Wages Shrink for State’s Middle-Income Workers

Wages for the typical worker in California — those who earn $19.18 an hour, or about $39,800 a year — are still 1.8% lower than they were in 2011, when the state’s unemployment rate hovered around 11.5%. The current unemployment rate is 6.4%

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City Council President Says LA Lacks Job Creation Plan, Orders New Panel to Boost Employment

For several weeks, the groups have complained City Hall isn’t focusing enough on job growth with critics contending Garcetti’s economic team, led by longtime staffer Kelli Bernard, has failed to recruit business or cut red tape for existing companies.

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State Launches One-Stop Website for Business Rules and Incentives

The business portal, a tool from the Governor’s Office of Business and Economic Development, provides companies with a map to navigate state and federal regulations, and access state assistance in areas like finding a site and accessing agencies that train workers.

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Real Personal Income for States and Metropolitan Areas, 2013

Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.

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Dan Walters: California Workers Compensation Costs Rise

California employers’ workers’ compensation insurance premiums jumped by $2 billion in 2014 but payments to workers for job-related injuries and illnesses remained static, while medical costs declined, according to the Workers’ Compensation Insurance Rating Bureau.

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Private Companies Added 237,000 Jobs in June vs. Est. of 218,000: ADP

Private companies in June created positions at the fastest clip this year, indicating a thaw in the labor market as summer began.

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Don’t Look for Paychex to Bounce

Fiscal fourth-quarter results Wednesday from payroll-services firm Paychex Inc. PAYX 0.93 % will likely reflect the lackluster and inconsistent spring seen by many small businesses.

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Census: Hispanics Overtake Whites to Become California’s Largest Ethnic Group

About 15 million Hispanics lived in California on July 1, 2014, compared to roughly 14.9 million non-Hispanic whites, according to U.S. Census Bureau estimates released late last week. The California Department of Finance predicted in 2013 that Hispanics would outnumber whites in 2014; the census figures confirm that prediction.

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