Fresh data show that the number of promotions given to American workers has dwindled, suggesting that even those with jobs are having a tough time getting ahead. Fewer promotions are "a sign of the lingering impacts of the recession," one expert says.
The dawning of 2011 marks a milestone: The first of the nation's 76 million baby boomers turn 65, the traditional retirement age. New polls, however, show that for a range of reasons few boomers of this age are ready to retire. In fact, some don't ever expect to stop working.
Recession-weary workers may finally get some encouraging news: Private-sector annual wages will improve in the coming months, albeit modestly, according to data compiled by BNA, publisher of Daily Labor Report.
An increasing number of observers, citing a preponderance of positive data, are optimistic that the stagnant labor market is finally beginning to gain momentum. But the pace is still way too slow for those desperately seeking work.
Temporary workers at a Hyundai Motor manufacturing plant in South Korea reportedly have agreed to end a near-monthlong strike that was inhibiting domestic production of subcompact cars, such as the Hyundai Accent.
Retailers and shipping companies are adding fewer new jobs than they did a year ago. One reason: employers began shopping for seasonal workers earlier than usual, boosting hiring in October. But if holiday retail sales hold up, it could equal more hiring in December.
Americans who have been jobless for long periods are keenly awaiting congressional action on the latest extension of benefits. With a midnight deadline looming, some 2 million people face losing their only source of income.
The latest weekly initial claims report showed a small increase, some 2,000 higher to 439,000. The more-telling four-week moving average dropped by 4,000 to 443,000, and continuing claims fell another 48,000 to 4.3 million.
Come the end of November, some 2 million jobless workers won't be able to rely on their unemployment check unless Congress again extends the aid. But with the GOP regaining the House, the odds of that extension just got a lot longer.
The percentage of unemployed managers and executives relocating for new positions fell to a record low in the third quarter, according to analysis by Challenger, Gray & Christmas. The relocation rate for the last four quarters has averaged just 7.3%.
Low pay, lack of benefits and other issues drove Ayo Collins and three other Jimmy John's workers to enlist the aid of the Chicago-based Industrial Workers of the World to help organize 10 targeted Minneapolis stores. The effort fell short, by a vote of 87 to 85.
Autoworkers laid off from a General Motors plant in Orion Township, Mich., have until the end of the day Tuesday to decide whether to take jobs at the automaker's Lordstown assembly plant, some 250 miles away in neighboring Ohio.
In an effort to boost worker skills to better match the needs of employers, President Barack Obama today unveiled Skills For America's Future, a new initiative to increase workforce development, worker training and job placement.
He's staying on the offense, accusing Republicans of dragging their feet in Congress just as the economy needs another boost. The president said he hopes his new small-business jobs bill will pass as soon as next week.
