September 17, 2014 |
DENISE THOMPSON used to think she had the most stable job in the world - working on an overnight shift at a large Mellon Bank office in Center City, processing checks. It was what she did five nights a week for 17 years. Then one evening in March 2009, the company told her and her co-workers it was laying off her entire shift, due to both the Great Recession and changes in check-processing technology. About 5 1/2 years later, Thompson - now 49, living in West Philadelphia - never found another job. At first, she said, she wasn't looking too hard for new work because she lives mortgage-free in a home that she'd inherited from her mom. But soon, the everyday bills began to pile up. When she finally hit the job market in earnest, she learned that her experience in check-processing didn't match well with the few openings that were out there - and the longer she went without a job on her resume, the fewer responses she got. "I thought for sure that my skills could transfer," Thompson said, although she now thinks her lack of customer-service experience has held her back.
August 5, 2014 |
The unemployment rate ticked upward 0.1 percentage point to 6.2 percent last week, and July marked the first time since 1997 that the United States has booked six consecutive 200,000-plus months of payroll growth. In other words, "we're in the midst of the best labor market conditions in more than a decade and a half," Janney Montgomery Scott's Guy LeBas, chief fixed income strategist, noted Friday. Better job markets could mean rising interest rates, and in that environment, floating-rate bond funds are a decent place to invest, says Bradford Bernstein, senior vice president of wealth management in UBS's Philadelphia office.
August 3, 2014 |
U.S. payrolls grew by 209,000 jobs in July - less than expected, but still enough to begin to erase the jobs deficit created by the recession, the U.S. Labor Department reported Friday. Even the rising unemployment rate, which ticked up by a tenth of a point to 6.2 percent, is an indicator of growth. That's because, to count as unemployed, a jobless person must actively be seeking work. As employment prospects improve, some people who had been sitting on the sidelines may reenter the labor market and start sending out resumés, but may not immediately find work.
May 4, 2014 |
While she's been at college, senior Stefanie Lechner, 23, has been watching the economy. "It doesn't frighten me," she said Friday, less than two weeks away from graduation from Temple University. Maybe it's because of Friday's champagne-popping report from the U.S. Labor Department - an unemployment rate of 6.3 percent in April, the lowest since September 2008, when it was 6.1 percent, and a not-shabby payroll expansion of 288,000 jobs. That being said, Lechner, graduating with a degree in therapeutic recreation, will soon begin an unpaid internship - a career step she believes will lead to full-time employment in the same organization by year's end. "It's a great opportunity," she said.
March 16, 2014 |
Campus Philly was created in 2000 amid hand-wringing over the Philadelphia region's bumper crop of college graduates leaving the area, diplomas packed in their suitcases. Then, the organization's job was to sell the city to students in the hope that they would stay. With the city's popularity growing among young people, that sale has been made, said Deborah Diamond, the organization's president. Now, she said, the 392,491 students enrolled in 101 area colleges are asking, "How can I stay here?
March 13, 2014
ATTORNEY General Corbett accepted $600,000 from Jerry Sandusky's Second Mile Foundation as he was running for governor, during which time he let Jerry himself run free. Gov. Corbett later awarded Second Mile a $3 million grant. Gov. Corbett accepted lavish gifts from people who later landed lucrative state contracts. He attends gala birthday soirees in his honor hosted by gas companies. Gov. Corbett boasts that he reduced unemployment. He does not mention that the labor force was reduced as 74,000 Pennsylvanians exited the job market in 2013.
January 23, 2014 |
Villanova University Law School said Tuesday that it would double the number of full scholarships available to members of the incoming 2014 class, to as many as 50. The scholarships would cover the full three years of law school, said dean John Y. Gotanda. Law schools nationwide have been under pressure to recruit new students as applications have fallen in the face of declining job opportunities for newly minted lawyers, and many have cut their enrollments in recognition of that trend.
October 24, 2013 |
Hours before the doors even opened, a throng of eager job-seekers began lining up Tuesday to look for work. A short time later, several thousand people packed into the Collingswood Ballroom for the semiannual job fair sponsored by Camden County. They freshened up their resumés, sought career counseling, and tried to make a good impression in brief interviews with recruiters. Nick Cerasi, 85, of Blackwood, drove his grandson, Jeffrey Bryan, to the event, which drew more than 125 prospective employers.
August 23, 2013 |
MARK MERCER had filled out more job applications than he could count, and after two years of trying to snag a steady gig the old-fashioned way, he decided in June to try a new approach. Decked out in black shoes and a black suit - the only one he owns - Mercer stands almost daily in the heart of the city's financial district, on the southeast corner of 19th and Market streets, with a stack of resumes and a huge sign: I Don't Want Your Change. I NEED A JOB. Mercer, 54, was fired in 2011 after four years in a customer-service job in Bucks County for refusing to yell at a technician, he said.
July 19, 2013 |
WASHINGTON - Federal Reserve Chairman Ben Bernanke said Wednesday that the U.S. economy was gradually improving but emphasized that the Federal Reserve was not locked into any timetable for scaling back policies aimed at promoting growth. He told Congress there was no "preset course" and that any decision to reduce its $85 billion-a-month bond-buying program will depend on how the economy performs. He said the Fed could maintain or increase those purchases if it sensed the economy was weakening.