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Jeff Cameron

HomeSmart

480-652-2004

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JOBS JOBS JOBS THAT IS THE ANSWER TO THE ECONOMY – HAVE BUSINESS BEGUN TO HIRE?

August 5, 2010 By Jeff Cameron

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So tomorrow is the big day! The jobs report for July 2010! Most expect large losses, but the expectation is the losses are the census workers. The talking heads are also expecting large private sector jobs to offset most of those losses. We will see. But in my heart of hearts, I hope so. We would all like to see the jobs market come back with a vengeance as so many Americans are out of work.
What is the answer to America’s job growth? How do we compete with China, India and other parts of the world that have such a lower cost of living and thus lower labor cost? I have hired many over the past 6-7 years and hiring is a difficult task.With the cost of turn over, taxes and benefits; I understand why many companies are hiring part time/temporary labor or leveraging out to a specialty company.
It seems that what we really need to focus on is the type of jobs that create an ability to build wealth. Wealth not only for the employer but the employee. We had the Technology boom of the 80’s and 90’s. It really created wealth. Every thing I read points to two different areas for future wealth building: medical and energy. With our aging society there are endless needs in the medical field from research to caring for people and most pay well, the research side of course is where the wealth can be found. Energy appears to be ready to just soar! Many emerging markets demand for energy doubles every 5 to 7 years. This is an incredible fact. From wind, to geothermal, solar and Algae; this is the basket I would put our future in. What do you think?
Just my opinion…Jeff Cameron

Weekly Claims Show Surprise Gain in Wobbly Jobs Market

Published: Thursday, 5 Aug 2010 | 8:35 AM ET   By: Reuters

New U.S. claims for unemployment benefits unexpectedly rose last week, government data showed on Thursday, underscoring a weak labor market and the fragile economic recovery.

Initial claims for state unemployment benefits rose 19,000 to a seasonally adjusted 479,000 in the week ended July 31, the Labor Department said. That was the highest level in claims since early April.

Analysts polled by Reuters had forecast claims dipping to 455,000 from the previously reported 457,000 the prior week, which was revised modestly up to 460,000 in Thursday’s report.

The four-week average of new jobless claims, considered a better measure of underlying labor market trends as it irons out week-to-week volatility, rose 5,250 to 458,500.

A Labor Department official said there was nothing unusual in the state level numbers.

The latest claims data has little bearing on the government’s closely watched employment report for July, due on Friday, as it falls outside the survey period.

Nonfarm payrolls probably fell by 65,000 last month after declining by 125,000 in June as temporary workers hired to conduct the decennial census were let go, according to a Reuters survey.

Private-sector payrolls are seen rising a modest 90,000 and the unemployment rate is expected to climb to 9.6 percent from 9.5 percent in June.

After falling rapidly in 2009, jobless claims have stalled this year and are anchored above the 400,000 to 450,000 range that analysts say is normally associated with sustainable jobs growth.

The scarcity of jobs is putting a strain on the economy’s fragile recovery from its longest and deepest downturn since the Great Depression.

In the week ended July 24, a total of 4.54 million people were still receiving benefits after an initial week of aid, 34,000 down from the prior week. Analysts polled by Reuters had forecast so-called continuing claims slipping to 4.54 million.

The number of people on emergency benefits increased 60,993 to 3.31million in the week ended July 17.

Filed Under: Business Tagged With: alternative energy, economy, Jobs Report

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