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Last updateThu, 21 Feb 2019 3pm

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Employers Cut Back on Aid to Laid-Off Workers

As companies continue to lay off workers, here's another reason for people to worry about joining the ranks of the unemployed: They may find a smaller severance package than they expect.

 

The unemployment rate fell to 9.4% last month, but 247,000 jobs were still lost in that period. And the more people laid off by companies, the larger the chunk of change being paid out in the form of severance pay, continued health benefits, retraining and other services.

 

Source: Wall Street Journal

 

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How Government Can Export Manufacturing Jobs

Even in the "good" economic times of 2004 through 2006, we were shedding manufacturing jobs. To put some perspective on what is happening, 31% of all manufacturing jobs have disappeared since January 2001.

 

We have entered the New Normal.

 

Source: Seeking Alpha

 

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Economists Upgrade Second-Half GDP Forecasts

Economists are predicting a brighter second half of the year as the cash-for-clunkers program boosts spending and U.S. manufacturers ramp up their production.

 

Revisions began after last week's gross-domestic-product report, showing the economy contracted at a better-than-expected 1%.

 

Source: Wall Street Journal

 

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Factory Orders Unexpectedly Increase in June

Factory orders rose in June for the fourth time in five months, an unexpected gain and the latest sign of recovery in the ailing manufacturing sector.

 

The Commerce Department said Wednesday that factory orders rose 0.4 percent, after a 1.1 percent increase in May. Economists expected a 1 percent drop, according to a survey by Thomson Reuters.

 

Source: Associated Press

 

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California Bleeding Manufacturing Jobs, Report Shows

California is shedding manufacturing jobs faster than any other state thanks to heavy regulation and high taxes, according to a new study.

 

A report out of the Milken Institute found that California has shed nearly 80,000 manufacturing jobs over the past five years, as neighboring states gained 62,000 jobs in the same sector.

 

Source: FOXNews.com

 

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