Saturday 3 November 2012

Where The Jobs Are and Where It's Hardest to Get Them


Where The Jobs Are and Where It's Hardest to Get Them


Although the economy added some 170,000 jobs in October, for many Americans still looking for work, the question is: Where are they?

According to data culled from postings on the job search site Indeed, the best employment prospects are concentrated in big, coastal cities. Here's a look at the top 10 cities with the most job postings per capita:



Metro Area
Job postings per 1000 people
San Jose, Calif.
153
Washington, D.C.
120
Raleigh, N.C.
117
Hartford, Conn.
103
Boston, Mass.
96
Baltimore, Md.
96
Denver, Colo.
85
San Francisco, Calif.
77
Austin, Texas
76
Seattle, Wash.
75
Source: Indeed

"The healthiest metro area job markets tend to be those with industries that allow them to stay viable during shifts in the economy," Mike Werch, communication manager at Indeed, wrote in an E-mail. Despite deep cuts in federal government jobs, the Washington, D.C. metro area has been buoyed by the hiring activity of defense contractors and IT firms. Similarly, San Jose, Calif. is a hub for established tech companies as well as emerging start-ups that are aggressively looking for talent.

But while jobs might be more abundant in those metro areas, they're also some of the most competitive labor markets in the country. Today, 13 cities have a ratio of one unemployed person for every job posting. Just two years ago, only two cities could claim that kind of job market competition. Here's a look at the 10 tightest job markets in the country:

Metro Area
Unemployed per job posting
Washington, D.C.
1:1
San Jose, Calif.
1:1
Boston, Mass.
1:1
Raleigh, N.C.
1:1
Oklahoma City, Okla.
1:1
Salt Lake City, Utah
1:1
Baltimore, Md.
1:1
Columbus, Ohio
1:1
St. Paul, Minn.
1:1
Hartford, Conn.
1:1
Source: Indeed

But even if some metro areas are seeing job growth, the future looks bleak. A recent survey of financial professionals who work with business owners found that 65 percent of respondents were less likely to increase hiring in the coming year.

"Combine the national debt with other political uncertainties, like what will happen to business tax rates, and it makes sense that business owners are experiencing general unease," Libby Bierman, an analyst at financial information firm Sageworks, wrote in an E-mail. "Until that sense of unease goes away, they will be hesitant to make large investments, including investments in more employees."


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Sandy aftermath: 4.6 lakh people remain without power in New York





More than 4,60,000 people remained without power in New York yesterday, four days after superstorm Sandy hit the city but electricity was now being quickly restored, Mayor Michael Bloomberg said.

“Since Thursday to this time, light has come back to about 70,000 more customers across the city,” Bloomberg told a news conference yesterday.

He said about half of those still without power were in Manhattan but added that there should be electricity on most of the island by midnight.

More than 2,50,000 people had power cut on Monday night when Sandy caused an explosion at a substation near the East River.

Con Edison, the New York power company, made automatic telephone calls to some Manhattan customers yesterday saying their electricity has been restored, but called back an hour later saying “this is an important announcement: please disregard our last message.”

Keywords: Hurricane Sandy, Sandy's aftermath, no electricity, people remain in darkness, New York,



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Thursday 25 October 2012

UK economy's return to growth


UK economy's return to growth 




The economy grew by 1.0%, according to official gross domestic product figures (GDP), which measure the value of everything produced in the country.

This growth was better than expected.

The Institute of Directors said the return to expansion was good news "but not enough to pop the champagne corks".

The British Chambers of Commerce (BCC) said work now had to be done to ensure the recovery was sustained.

John Longworth, director general of the BCC, said: "This news will give many businesses the confidence to invest. But the government still has work to do to ensure than an economic recovery is sustainable.

Continue reading the main story

Start Quote

It is growth - even with all the one-offs - and faster growth than most in the City expected”


Stephanie Flanders
Economics editor
Read more from Stephanie
Does it matter we're out of recession?
"Ministers must listen to calls from businesses to help them get the finance they need, and support to find new international markets for their products and services."

Andrew Smith, chief economist at accountancy group KPMG, said the UK economy still looked "pretty flat". He added: "It's not exactly a recession, but not exactly a recovery either.

"While technically we are now out of the double-dip recession, it would be unfortunate if attention was distracted away from the big picture.

"GDP is still some 4% below its pre-recession peak, and with lingering domestic headwinds, the threat of an escalation of the crisis in the eurozone, and only slow progress in rebalancing the economy, the recovery is set to remain fragile."

The Office for National Statistics said that Olympic ticket sales had added 0.2 percentage points to the figures.

The BBC's economics editor Stephanie Flanders said: "The positive 'surprise' in these figures is largely to be found in the service sector, which is estimated to have grown by 1.3% in the third quarter, after shrinking by 0.1% in the three months before."

The data also exceeded expectations from economists, who had predicted an increase of 0.6% in the quarter.

Commerzbank economist Peter Dixon said the Olympic games was likely responsible for half the economic growth seen during the three months.

He added: "If you look at most of the other evidence, it's consistent with an economy that is growing relatively slowly. So a sluggish economy in the wake of domestic problems and whatever else is happening in the eurozone."

The markets gave the growth data a muted response, with the main UK share index, the FTSE 100, ending the day up just 0.3 points.

'Right track'
The economy had been in recession for the previous nine months and has still not recovered the levels of output seen before the financial crisis in 2008.


David Cameron: "We're on the right track"
The ONS said that beyond the effect of ticket sales, it was hard to put an exact figure on the Olympic effect, although it cited increased hotel and restaurant activity in London as well as strength from employment agencies.

The GDP figures were also enhanced by comparison with the previous three months, because the second quarter had an extra public holiday as part of the Diamond Jubilee celebrations in June, as well as unusually bad weather, which reduced growth.

"There is still a long way to go, but these figures show we are on the right track," said Chancellor of the Exchequer George Osborne.

"Yesterday's weak data from the eurozone were a reminder that we still face many economic challenges at home and abroad."

Shadow chancellor Ed Balls praised the news but said that the figures "show that underlying growth remains weak".

Continue reading the main story

Start Quote

Our biggest export country is France, but we also ship to Greece, Spain and Italy… [Orders] are still coming in thick and fast.”

Pamela Petty
Managing direct, Ebac
The growing firms creating jobs
"A one-off boost from the Olympics is welcome," he said. "But it is no substitute for a plan to secure and sustain the strong recovery that Britain desperately needs if we are to create jobs, get the deficit down and make people better off."

The data is a preliminary estimate from the ONS, meaning that the third-quarter figures could be revised higher or lower.

"While the news is positive, the estimate must be put in context," said David Kern, chief economist at the British Chambers of Commerce.

"The 1% GDP figure for the third quarter is affected by distortions in the second quarter due to the Jubilee and Olympic ticket sales. Compared to a year earlier, the figures show that the economy is stagnant."

The ONS said that the economy had contracted by 6.4% between the start of 2008 and the middle of 2009, and had since recovered about half of that output.

The level of output in the third quarter of 2012 was almost exactly the same as it had been in the third quarter of 2011.


The economy grew by 1.0%, according to official gross domestic product figures (GDP), which measure the value of everything produced in the country.

This growth was better than expected.

The Institute of Directors said the return to expansion was good news "but not enough to pop the champagne corks".

The British Chambers of Commerce (BCC) said work now had to be done to ensure the recovery was sustained.

John Longworth, director general of the BCC, said: "This news will give many businesses the confidence to invest. But the government still has work to do to ensure than an economic recovery is sustainable.

Continue reading the main story

Start Quote

It is growth - even with all the one-offs - and faster growth than most in the City expected”


Stephanie Flanders
Economics editor
Read more from Stephanie
Does it matter we're out of recession?
"Ministers must listen to calls from businesses to help them get the finance they need, and support to find new international markets for their products and services."

Andrew Smith, chief economist at accountancy group KPMG, said the UK economy still looked "pretty flat". He added: "It's not exactly a recession, but not exactly a recovery either.

"While technically we are now out of the double-dip recession, it would be unfortunate if attention was distracted away from the big picture.

"GDP is still some 4% below its pre-recession peak, and with lingering domestic headwinds, the threat of an escalation of the crisis in the eurozone, and only slow progress in rebalancing the economy, the recovery is set to remain fragile."

The Office for National Statistics said that Olympic ticket sales had added 0.2 percentage points to the figures.

The BBC's economics editor Stephanie Flanders said: "The positive 'surprise' in these figures is largely to be found in the service sector, which is estimated to have grown by 1.3% in the third quarter, after shrinking by 0.1% in the three months before."

The data also exceeded expectations from economists, who had predicted an increase of 0.6% in the quarter.

Commerzbank economist Peter Dixon said the Olympic games was likely responsible for half the economic growth seen during the three months.

He added: "If you look at most of the other evidence, it's consistent with an economy that is growing relatively slowly. So a sluggish economy in the wake of domestic problems and whatever else is happening in the eurozone."

The markets gave the growth data a muted response, with the main UK share index, the FTSE 100, ending the day up just 0.3 points.

'Right track'
The economy had been in recession for the previous nine months and has still not recovered the levels of output seen before the financial crisis in 2008.


David Cameron: "We're on the right track"
The ONS said that beyond the effect of ticket sales, it was hard to put an exact figure on the Olympic effect, although it cited increased hotel and restaurant activity in London as well as strength from employment agencies.

The GDP figures were also enhanced by comparison with the previous three months, because the second quarter had an extra public holiday as part of the Diamond Jubilee celebrations in June, as well as unusually bad weather, which reduced growth.

"There is still a long way to go, but these figures show we are on the right track," said Chancellor of the Exchequer George Osborne.

"Yesterday's weak data from the eurozone were a reminder that we still face many economic challenges at home and abroad."

Shadow chancellor Ed Balls praised the news but said that the figures "show that underlying growth remains weak".

Continue reading the main story

Start Quote

Our biggest export country is France, but we also ship to Greece, Spain and Italy… [Orders] are still coming in thick and fast.”

Pamela Petty
Managing direct, Ebac
The growing firms creating jobs
"A one-off boost from the Olympics is welcome," he said. "But it is no substitute for a plan to secure and sustain the strong recovery that Britain desperately needs if we are to create jobs, get the deficit down and make people better off."

The data is a preliminary estimate from the ONS, meaning that the third-quarter figures could be revised higher or lower.

"While the news is positive, the estimate must be put in context," said David Kern, chief economist at the British Chambers of Commerce.

"The 1% GDP figure for the third quarter is affected by distortions in the second quarter due to the Jubilee and Olympic ticket sales. Compared to a year earlier, the figures show that the economy is stagnant."

The ONS said that the economy had contracted by 6.4% between the start of 2008 and the middle of 2009, and had since recovered about half of that output.

The level of output in the third quarter of 2012 was almost exactly the same as it had been in the third quarter of 2011.




Powell Endorses Obama (Again); Obama Calls 'Other Guy' a 'Bullshitter'


Powell Endorses Obama (Again); Obama Calls 'Other Guy' a 'Bullshitter'



Former Secretary of State Colin Powell said Thursday he would vote for President Barack Obama as he did in 2008.

Powell is a Republican and retired four-star Army General who also served in the Bush admininstration as national security adviser and chairman of the Joint Chiefs of Staff in addition to leading the State Department. He cited Obama's stewardship of the flailing economy he inherited and oversight of the ending of the Iraq war as reasons for his endorsement.

"I think the actions he's taken with respect to protecting us from terrorism have been very, very solid," Powell told CBS Morning Show host Charlie Rose. "I also think we should keep on the track we are on."


While he said he has the "utmost respect" for Obama's Republican rival Mitt Romney, Powell said he's not convinced Romney's economic plan will work.

"As I listen to what his proposals are ... it's essentially, 'let's cut taxes and compensate for that with other things,'" Powell said. "But that compensation does not cover all the cuts intended of the new expenses associated with defense."

Romney has said he would increase defense spending beyond what Obama has proposed. He also launched a radio ad airing in Virginia, a key battleground state, promoting his plan for boosting the number of ships in the Navy, highlighting the number of defense-related jobs that could be lost in Virginia if Obama is re-elected.

Obama also let loose during a just-published interview with Rolling Stone magazine. As reported by Politico, after Obama was told that the magazine's executive editor's 6-year-old daughter wanted to tell the president, "You can do it," the president replied, "You know, kids have good instincts."

"They look at the other guy and say, 'Well, that's a bullshitter, I can tell,'" Obama said.

Obama's sharp snark comes with less than two weeks until Election Day.





Thursday 18 October 2012

U.K. Stocks Are Little Changed; Kazakhmys Gains


U.K. Stocks Are Little Changed; Kazakhmys Gains


U.K. Stocks (UKX) were little changed, after the FTSE 100 rallied to a one-month high yesterday, as investors awaited the outcome of a two-day summit of European Union leaders.
Kazakhmys Plc (KAZ) led miners higher as China’s economy expanded in the third quarter. Man Group Plc (EMG) dropped the most in nine months after the hedge-fund manager reported a 57 percent increase in outflows. Capital Shopping (CSCG) Centres Group Plc lost 1.9 percent as Barclays Plc placed shares in the company, according to two people familiar with the deal.
The FTSE 100 Index slipped 0.1 percent to 5,905.4 at 12:17 p.m. in London, after earlier reaching its highest level since Sept. 14. The gauge has still advanced 1.9 percent so far this week, boosted by a pick-up in U.S. housing, retail and industrial-output data and an unexpected drop in U.K. unemployment. The FTSE All-Share Index fell 0.1 percent today. Ireland’s ISEQ Index lost 0.3 percent.
EU leaders gather in Brussels for the summit as French President Francois Hollande warned that efforts to stem the debt crisis may unravel if the policy makers fail to deliver on their promises. He called on the euro area to introduce a banking union, while German Chancellor Angela Merkel said in Parliament today that Greek reforms were moving at a “snail’s pace.”
The FTSE 100 has climbed 12 percent from its 2012 low on June 1 after European Central Bank policy makers agreed to an unlimited bond-buying program and the Federal Reserve announced a third round of quantitative easing. The European benchmark Stoxx Europe 600 Index has jumped 18 percent from its low on June 4.
Mining Companies
A gauge of mining companies rose 0.7 percent for a third day of gains after Chinese gross domestic product expanded 7.4 percent in the third quarter from a year earlier, matching the median estimate in a Bloomberg News survey. GDP rose 2.2 percent from the prior period, a four-quarter high.
“China’s economy is performing better than expected, and the bottoming will be clear in the fourth quarter,” said Zhu Haibin, Hong Kong-based chief China economist for JPMorgan Chase & Co. Industrial production and retail-sales data in September also topped economist forecasts.
Kazakhmys Plc rose 2.5 percent to 779 pence and Eurasian Natural Resources Corp. added 2 percent to 359.2 pence.
Man Group
Man Group dropped 9.1 percent to 84.1 pence, its steepest fall since January, after the world’s biggest publicly traded hedge-fund manager said clients pulled a net $2.2 billion from the firm, up from $1.4 billion in the second quarter.
Customers redeemed a gross $5.2 billion from Man Group’s investment funds, compared with $3 billion of sales, amid an environment for sales that Chief Executive Officer Peter Clarke called “subdued.”
Capital Shopping dropped 1.9 percent to 333.1 pence after Barclays placed 35.3 million shares in the U.K.’s largest specialist mall operator for 328 pence to 330 pence apiece, according to two people familiar with the transaction.
Capital & Counties Properties Plc (CAPC), part owner of London’s Covent Garden Market, slid 3.2 percent to 224.4 pence after Simon Property Group Inc. sold a stake in the company. UBS AG placed the 38.9 million shares on behalf of Simon Property at 225 pence each, according to terms obtained by Bloomberg News.

Wednesday 17 October 2012

Canada Immigration news

IMMIGRATION MINISTER TO GIVE CRITERIA FOR DENYING ENTRY TO CANADA

Jason Kenney to table details of bill that would give more power to immigration minister

OTTAWA — Immigration Minister Jason Kenney plans to seek advice from all parties on how to “strike the right balance” between barring foreigners whose views could inspire violence and those who simply espouse unpopular political opinions.

Kenney promised to put forward a list of criteria aimed at clarifying a clause in Bill C-43, the government’s Faster Removal of Foreign Criminals Act, that gives the minister the new power of “negative discretion.”

It allows the minister to bar foreigners on the basis of “public policy considerations,” but the government has come under fire for failing to explain just what that means.

“The idea of this power of negative discretion in Bill C-43 would be to give us an extraordinary power in very exceptional cases to deny admission,” he said Tuesday following a speech on border security in London, England.

“We’re not looking at some broad, generalized power to prevent the admission of people to Canada whose political opinions we disagree with but rather those whose hateful attitudes, if given expression in Canada, could potentially lead to hateful actions or violence.”

Kenney promised to engage members of an all-party Commons committee on the issue when it begins reviewing the bill next week.

“I’m, quite frankly, going to ask all the members from all the parties at the immigration committee to give me their best advice on how to strike the right balance,” he said.

The NDP had one piece of early advice for Kenney Tuesday: Get it right the first time.

Immigration critic Jinny Sims argued Kenney has a “habit” of introducing legislation and other policy changes, only to alter them when he faces criticism. It happened after the government introduced its Protecting Canada’s Immigration Act and again after the Conservatives came under fire for cutting certain refugee health-care provisions.

“We’ve been pointing out that that part of C-43 was wide open,” she said. “To say that you’re going to keep people out for public policy reasons, that’s such a wide net and the fact that the power is invested in the minister is even more of a concern because it leaves it open for political manipulation.”

She’s prepared to take a look at the amendments he puts forward and is hopeful that the changes will include taking the discretion out of the hands of politicians.

It’s expected the new law could be used to justify barring people like controversial U.S. pastor Terry Jones who was stopped at the border last week under dubious circumstances.

Scheduled to speak at a conference in Canada, Jones was denied entry based on an old criminal conviction in Germany, though many believe it’s his promotion of International Burn a Qur’an Day that really raised eyebrows.

Kenney is set to wrap up a nearly two-week trip to Ireland, Hungary and the U.K.

While in England to talk about Canada’s efforts to beef up the border, Kenney said he was also invited to meet with members of the Conservative Party at 10 Downing Street. They apparently wanted to know more about his success boosting political support among newcomers and ethnic communities.

“Obviously the Conservative Party of Canada has a partnership and certain links with other parties of the centre right in democratic countries,” he said.

“I was happy to share our experience and our ideas on it.”

He suggested Conservative values like personal responsibility, reducing taxes and fighting crime resonate with newcomers and that polls suggest 42 per cent of non-Canadian born voters chose his party in the last election. “It was our honest approach, based on values and principles, that have succeeded to a certain degree,” he said.

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