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Hewitt Survey Shows Employer Spending on 2010 Salary Increases and Variable Pay Awards Lower Than Originally Anticipated

added: 31-08-2010

While the economy is showing signs of improvement, U.S. employers remain concerned about the stability of the economy. This uncertainty is evident in the amount of money they are allocating toward pay raises and performance awards this year, according to a new survey by Hewitt Associates, a global human resources consulting and outsourcing company. Hewitt’s survey shows that companies are spending less on pay raises and variable pay awards in 2010 than they originally anticipated. But they are more optimistic about the future, with most expecting to bump up salary increases and variable pay awards in 2011.

Employment and Unemployment Among Youth: April - July 2010

added: 31-08-2010

From April to July 2010, the number of employed youth 16 to 24 years old rose by 1.8 million to 18.6 million, the U.S. Bureau of Labor Statistics reported. This year, the share of young people who were employed in July was 48.9 percent, the lowest July rate on record for the series, which began in 1948. (The month of July typically is the summertime peak in youth employment.) Unemployment among youth increased by 571,000 between April and July, about half as much as in each of the two previous summers.

Discover® Small Business WatchSM: Small Business Confidence Plummets

added: 31-08-2010

Small business owners’ confidence in the economy soured significantly from July to August in the largest one-month decline since November 2009, according to the Discover® Small Business WatchSM. Business owners expressed a negative outlook for the economy in general and skepticism that economic conditions would get better for their businesses in the next six months.

Worker Displacement 2007-2009

added: 30-08-2010

From January 2007 through December 2009, 6.9 million workers were displaced from jobs they had held for at least 3 years, the U.S. Bureau of Labor Statistics reported. This was nearly twice as many as were displaced for the survey period covering January 2005 to December 2007. In January 2010, about half of displaced workers were reemployed, down from about two-thirds for the prior survey in January 2008. The more recent period includes the recession that began in December 2007. In contrast, the prior survey covered a period of employment growth and declining unemployment.

Employment Picture Grim for Least-Educated

added: 30-08-2010

Less-educated, younger, and minority American workers face the worst job market in decades, far worse than their more educated counterparts. However, the situation for these workers was very difficult even before the current recession. A report from the Center for Immigration Studies examines their employment situation in the second quarters of both 2007 (before the recession) and 2010. Younger and less-educated workers are the most likely to be in competition with immigrants – legal and illegal.

Study Shows Massive Increase in Consumer Bankruptcy Costs

added: 30-08-2010

People currently filing for Chapter 7 and Chapter 13 consumer bankruptcy protection are facing as much as a 55 percent cost increase as one result of the 2005 comprehensive bankruptcy reforms, according to a new study published in the American Bankruptcy Institute Law Review. In addition, as a direct result of these increased costs, unsecured creditors are being paid a smaller percentage on the dollar today than prior to the 2005 reform.

Shoppers Scaling Back on Channel Shifting, Giving Retailers Fewer Chances to “Get It Right”

added: 30-08-2010

Shoppers are cutting back on the number of stores they are visiting, concentrating visits on stores known for lower prices, generally visiting stores less frequently and spending less per trip. These are the principal findings of SymphonyIRI Group’s new Times & Trends report, “The New Path to Purchase: An Escalation of Channel & Consumption Migration.”

Women Business Owners Spend $500,000 Each in Growing Economy

added: 27-08-2010

The Women Presidents' Organization (WPO) has just released the results of the 2010 Buying Behavior Survey. The results of the survey showed that members of the WPO alone have a projected spend of over $500,000 each on business expenses. Collectively WPO members will spend approximately $169 million on healthcare for 2010 and over $120 million on banking services including credit cards, cash management, line of credit and loan packages. The aggregate spend for WPO members is over $648 million.

Americans Say Value Added Tax Would Force Cutbacks in Spending

added: 27-08-2010

Budget-focused Americans still grappling with a sluggish economy say they don’t want a substantial new Value Added Tax that some policymakers are proposing as a way to reduce the federal deficit, according to a survey conducted for the National Retail Federation by BIGresearch.

CredAbility Consumer Distress Index: U.S. Consumers Remain Mired in Financial Distress Amid Some Signs of Stabilization

added: 27-08-2010

CredAbility, one of the leading nonprofit credit counseling and education agencies in the United States, released the CredAbility Consumer Distress Index results for the 2010 second quarter. The Index, a quarterly measure that tracks the financial condition of the average U.S. household, finds that high levels of unemployment and the strain of housing costs continue to keep consumers mired in financial distress. But consumers' net worth has increased for the past five quarters as they continue to pay down debt and, in some parts of the country, benefit from stabilizing housing prices.

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