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May 16, 2012
The Numbers: Unemployment Rate Falls; Consumer Confidence Increases Slightly

CHICAGO — While the unemployment rate went down slightly, job growth slowed noticeably

WHILE JOB GROWTH SLOWED for the month of March, with the market adding only 121,000 private-sector jobs, the unemployment rate fell to 8.2%, according to the U.S. Department of Labor.

“We’ve added nearly half a million manufacturing jobs since February 2010,” says Secretary of Labor Hilda L. Solis. “We cannot rest on our laurels and expect to coast our way back to prosperity.”

The figures from the Bureau of Labor Statistics show little change from January to February, with 3.6 million job openings, a hires rate of 3.3% and a separations rate of 3.1%. Compared with the 4.3 million job openings when the recession began in December 2007, the current rate has increased 46% since the end of the recession in June 2009.

April 12, 2012
The Numbers: Stock Market Strong While Unemployment Holds Steady

CHICAGO — Mid-March found the stock market posting its best day of the year

CHICAGO — MID-MARCH FOUND THE STOCK MARKET posting its best day of the year, with the Dow Jones closing at its highest level since 2007 and the Nasdaq composite closing above 3,000 for the first time since December 2000.

While the unemployment rate held steady at 8.3%—a three-year low—the number of private-sector jobs continued to increase. With a jump of 233,000 jobs in February, more than 3.9 million jobs have been added to the U.S. workforce.

“We’ve had 24 straight months of private-sector job growth,” says Secretary of Labor Hilda Solis. “U.S. job growth over the last six months has been the strongest since before the recession began in 2006.” Experts say, however, that it will take another five years to gain pre-recession employment figures.

MORTGAGE APPLICATIONS WERE DOWN for the week ending March 2, decreasing 1.2% from the previous week, according to the Mortgage Bankers Association. Along with that news, RealtyTrac showed new foreclosures were up 2.89% from December 2011 to January 2012.

March 8, 2012
The Numbers: Positive Outlook for Unemployment, Consumer Spending, GDP

CHICAGO — January ’s unemployment rate dropped to 8.3%

CHICAGO — JANUARY’S UNEMPLOYMENT RATE dropped to 8.3%, according to the U.S. Department of Labor, the lowest since February 2009.

“The economy added 257,000 private-sector jobs last month, exceeding expectations,” says Secretary of Labor Hilda L. Solis. “These numbers show that the labor market continues on a positive trajectory.

In response to the positive numbers, the Dow Jones jumped the day after the announcement while the Nasdaq index reached a level that hasn’t been seen since December 2000.

THE FEDERAL RESERVE DISTRICTS reported modest growth for December, indicating ongoing improvement in the country’s economy. Consumer spending increased in most of the 12 districts, showing strong holiday sales compared to that of 2010, and activity expanded in the travel and tourist sector as well.

February 7, 2012
The Numbers: Unemployment, Mortgage Applications, U.S. Competitiveness

CHICAGO — DECEMBER FOUND THE U.S. UNEMPLOYMENT rate dropping to a nearly three-year low of 8.5%, with non-farm payrolls increasing by 200,000 in the month alone, according to the U.S. Department of Labor. Economists had expected a 150,000 increase, and the number was the largest hike in three months. The forecasted unemployment rate was 8.7%.

January 9, 2012
The Numbers: Unemployment, Mortgage Applications, Pending Home Sales

CHICAGO — Helping to ring in a better new year are the Federal Reserve Board, the nation’s unemployment numbers and job growth, mortgage applications, and pending home sales.

ALL BUT ONE OF THE FEDERAL RESERVE DISTRICTS reported an increase in economic activity in a report filed Nov. 30. The districts saw a slow to moderate upward trend in consumer spending, with the strongest upticks occurring in vehicle sales and tourism dollars. Manufacturing activity and overall bank lending also increased slightly.

THE NOVEMBER JOBLESS RATE was down to 8.6%, according to the U.S. Department of Labor, with an estimated 120,000 jobs added—that’s the fifth month in a row to post 100,000 or more new jobs, a first since April 2006. However, a downswing in wages slightly offset that good news.

The department reports a decrease in the weekly seasonally adjusted unemployment claims in the week ending Dec. 3, as the number went to 381,000 from the previous week’s revised number of 404,000.

December 8, 2011
The Numbers: Jobs Growth Expectations, Mortgage Delinquencies, and Economic Policies

CHICAGO — A new report from NYSE Euronext provides some economic encouragement. Top executives for 62% of public companies and 71% of private firms expect to expand their businesses and add jobs in 2012, a move counter to growing uncertainty of the economy and political instability. This is the first report from NYSE Euronext to include private or emerging companies and MBA students that the NYSE dubs “aspiring corporate leaders.”

On the other end of the spectrum, the congressional so-called Super Committee failed to come to an agreement on a deficit reduction plan, leading to a drop on the stock market and continued debate as to the cause of the committee’s inaction. The main stumbling block appeared to be the continued tax cuts, rather than higher tax rates, for the upper tier of income earners.

October 24, 2011
The Numbers: September Produces Improvements in Job Growth, Unemployment Claims

CHICAGO — Both U.S. job growth and unemployment claims experienced slight improvements in September.

Secretary of Labor Hilda Solis reported on the September job growth, saying, “Non-farm payroll employment added 137,000 private-sector jobs, exceeding expectations, and total non-farm payroll jobs grew by 103,000. Additionally, the reported July and August jobs numbers were revised significantly upward, meaning that we added 99,000 more jobs during those two months than previously was reported. The unemployment rate remained at 9.1%.”

Solis added that 2.6 million jobs have been created over 19 consecutive months of private-sector growth.

Her department also reported that for the week ending Sept. 24, initial claims for unemployment insurance decreased by 37,000, to a seasonally adjusted total of 391,000. The number is the lowest since the beginning of April. The four-week average dropped as well, the first time in six weeks, to 417,000.

September 22, 2011
The Numbers: Jobs, Mortgages, and Consumer Confidence

CHICAGO — Early September brought a new proposal—the Americans Jobs Act—from President Barack Obama, which includes incentives for small-business owners to aid in cutting taxes and adding employees.

The proposal cuts employer payroll taxes in half, offers a series of tax credits for companies that hire workers who have been unemployed for longer than six months, establishes an “infrastructure bank” to offer loans for private-sector projects, funds a variety of transportation projects, intends to modernize schools and vacant properties, extends unemployment benefits and subsidizes jobs training programs, pumps money into communities for teachers and first responders, and sets up a summer jobs program for teens.

The bipartisan super committee in Congress—tasked with finding ways to reduce the nation’s debt by December—was due to hear the president’s proposals on cutting debt later in the month.

August 3, 2011
Industry Observations: Don’t Sell Out Yet

PEMBROKE, Mass. — I meet lots of drycleaners who are looking to sell. There’s nothing wrong with that, but there is a time to sell and a time not to sell. This is a time not to sell. Wait a few years, and it should be a better market. You might even double your price if you wait. Here’s why.

The current economic situation is quite tenuous. Now, nobody is ever really sure what’s going on, but the last few years have been particularly iffy. In 2008, the economy almost collapsed. We have not experienced such a crisis since the Great Depression. Government tinkering averted a complete meltdown, but the fear of that almost-catastrophe lingers.

The economic situation is looking up. Major companies such as Microsoft, Intel and Exxon have billions in their tills. The stock market has recovered, and the future looks promising. If you’d invested $100,000 in the market at the depth of the recession, you might have $140,000 now.

December 1, 2010
Good News Travels Fast

CHICAGO — Enough from the national press! If someone dies, they cover it. If there’s violence, they cover it. If the economy crashes and burns, they cover it. But if there’s slow, localized economic improvement, they don’t cover it. 

If we rely on television and newspapers to tell us what to do next, we’re in trouble. It’s up to us to anticipate the future and begin to move forward. We are the experts in our own markets, and should know what to expect from them.

August 27, 2010
Keeping The Workplace Safe, Part 2

CHICAGO — In all my years in business, I’ve only fired one person. Usually, I let problem employees dig their own holes, and they fade off into history. Documentation is the key to blocking an unemployment claim—or so I thought.

I’m not saying that documentation doesn’t work, but I am saying that whoever works in the Illinois Department of Employment Security (IDES) offices is giving out benefits regardless of documentation. Perhaps they are being more lenient because the economy is weak, but it isn’t helping my business.

August 13, 2010
Keeping The Workplace Safe, Part 1

CHICAGO — Workplace violence is far too common; it seems like there’s a news report about a shooting rampage daily. Someone often knows about the killer’s emotional problems or violent tendencies, but does nothing. Are people afraid to get involved? Is society reluctant to profile those who might be a threat to others for the sake of individual rights?

March 22, 2010
Jobs Bill Includes Small-Business Incentives

WASHINGTON — Companies hiring unemployed workers will be able to take a credit on payroll taxes under the jobs bill signed into law Thursday by President Obama. The bill passed the Senate the day before in a 68-29 vote.

"It is the first of what I hope will be a series of jobs packages that help to continue to put people back to work," Obama said. "I also want to say to the Republicans who voted for this bill that I appreciate their willingness to work with Democrats in a bipartisan fashion to get America moving again."