Posts Tagged ‘jobs’

Beige Book: Slower Growth, Less Optimism

Posted on June 09, 2017 by Laura Lam

Economic growth slowed across parts of the U.S. in recent weeks, and some firms have become a bit less optimistic about the future, according to a new report from the Federal Reserve.  “A majority of districts reported that firms expressed positive near-term outlooks; however, optimism waned somewhat in a few districts,” the Fed said in its latest Beige Book report. Broadly, the Fed said economic growth was modest in 7 districts, moderate in 4 districts and “flattened out” in the New York Fed district. The prior beige book said activity expanded in all 12 regions with the pace equally split…

Consumer Optimism Surges in March

Posted on April 13, 2017 by Laura Lam

Consumers continued growing more optimistic in March, however much of the increasing sentiment is due to changed evaluative criteria, according to the Survey of Consumers conducted by the University of Michigan.  The Index of Consumer Sentiment came in at 96.9 in March, an increase of 0.6% from February’s 96.3 and 6.5% from 91 in March 2016, according to the survey. This is slightly lower than the beginning of the month, when the index increased to 97.6. “The continued strength in consumer sentiment has been due to optimistic views on three critical components: higher incomes and wealth, more favorable job prospects, and low inflation…

The Housing Crisis: 10 Years Later

Posted on April 03, 2017 by Laura Lam

CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. In 2010, at the peak of the Great Recession, nearly 1.2 million U.S. homes went through completed foreclosures, nearly 5 times as many as in 2000 and about double the number of completed foreclosures in 2007, the year the housing crisis really took off. Many economists mark the beginning of the foreclosure crisis with the collapse of two Bear Stearns subprime funds in June 2007, with the crisis deepening as a…

Student Loan Defaults on the Rise

Posted on March 29, 2017 by Laura Lam

A new analysis of government data by the Consumer Federation of America found that the number of Americans in default on their student loans jumped by nearly 17% last year.  As of the end of 2016, there were 4.2 million Federal Direct Loan borrowers in default, meaning they’ve not made a payment in more than 270 days. That’s up from 3.6 million at the end of 2015. “Despite all improvements in the economy, student loan borrowers are still struggling,” said Rohit Chopra, senior fellow at the Consumer Federation of America (CFA).  As of the end of 2016, 42.4 million Americans…

Housing Confidence Reaches All-Time High

Posted on March 08, 2017 by Laura Lam

The Fannie Mae Home Purchase Sentiment Index (HPSI)  increased by 5.6 percentage points in February to 88.3, a new all-time high. The report found that 5 of the 6 components that comprise the HPSI were up, and 3 hit record highs. The net share of Americans who reported that now is a good time to buy rose 11 percentage points, while the net share who believe that now is a good time to sell rose 7 percentage points. Consumers also demonstrated greater confidence about not losing their jobs, with the net share rising 9 percentage points. “The latest post-election surge…

Existing Homes Fall to 7-Month Low

Posted on October 17, 2016 by Laura Lam

Contracts to purchase previously owned homes fell to a seven-month low in August, held back by a tight supply in the housing market, according to a recent report from the National Association of Realtors.   Pending home sales fell 2.4% (the median forecast was for no change) after a revised 1.2% increase in July. The index dropped to a seasonally adjusted 108.5, the lowest since January, from 111.2 in July. Contract signings rose 4% from August 2015 on an unadjusted basis. The fall in contract signings was the third in four months, adding to signs that a relative paucity of available homes…

Banks Court Hackers for Cybersecurity Jobs

Posted on July 01, 2016 by Laura Lam

Even though cybersecurity jobs can offer 6-figure salaries, generous signing bonuses and other perks, banks are struggling to find people to hire.  Part of it is perception – banks don’t seem nearly as cool as all of the other industries that are just as aggressively targeting the same talent pool.  But another serious factor is that the demand for cybersecurity experts is vastly outstripping supply. The digital security firm Symantec estimates there are 500,000 to 1 million open cybersecurity jobs across the nation that cannot be filled due to a shortage of skilled candidates. By 2020, Symantec expects that number…

Ten States Still Have Fewer Jobs Since Recession

Posted on March 30, 2016 by Laura Lam

Ten U.S. states still have not regained all the jobs they lost in the Great Recession, even after six and a half years of recovery, while many more have seen only modest gains.  The figures help illustrate the uneven nature of the economic rebound since the Great Recession ended in June 2009. They also suggest why many Americans feel the improvement has passed them by. Ongoing economic anxiety, despite some data suggesting the economy has recovered, is fueling much of the support for insurgent presidential candidates such as Donald Trump and Bernie Sanders. Wyoming had 3% fewer jobs last month…

Financial Crisis Continues to Affect Some Jobs

Posted on February 23, 2016 by Laura Lam

The nation’s overall employment picture may be improving, but that’s not the case for some of the highest paying positions on Wall Street before the financial crisis.  Those high-voltage stress-inducing jobs that brought in big money on the Street have essentially become relics of the past, eight years after the Great Recession helped wipe them out. Executive recruiter Chad Dean had a front row seat to the carnage.  “The most significant change is the massive reduction of employment on Wall Street, especially in the front office. (Proprietary) trading is gone. Most fixed income desks have shrunk,” said Dean.  “I played…

Having a Working Mother Is Good For You

Posted on July 14, 2015 by Saldutti

When a woman works outside of the home before her children are 14 years old, she improves her daughter’s career prospects, a new report found. Harvard Business School’s recently launched “Gender Initiative” analyzed data of nearly 50,000 adults aged 18 to 60 in 24 nations from 2002 to 2012. The data was from the International Social Survey Program, a multi-country program that looks at social trends across developed nations. The same did not hold true for sons of working mothers, however; they are as likely as sons with stay-at-home mothers to hold supervisory positions and earn comparable salaries. According to the study, American…