Employment Stats 4/28/09
Weekly Jobless Claims Change from Previous Week (seasonally adjusted) -14,000
Payroll Employment (Nonfarm Jobs Created or Lost), March -663,000
Unemployment Rate, March 8.5 percent
| This Week in HR: Wages Stagnate As Firms Rush to Slash Costs By Vault |  |
U.S. Workers' Wages Stagnate As Firms Rush to Slash Costs
Across the country, workers' earnings are stagnating or, in some cases, declining. For many Americans, the setbacks are all the more troubling because they have lost so much wealth in recent months, with the value of their homes and retirement packages plummeting. According to a recent Washington Post-ABC News poll, more than a third of Americans say they or someone in their household has had their hours or pay cut in the past few months. That's a nine-point increase since a similar poll was conducted in February. [The Washington Post]
Freelance is the new full time
As unemployed Americans struggle to find full-time work, many will have to settle for positions that are easier to come by - freelance. Freelance professionals now make up more than a quarter of the U.S. working population, or 26 percent, according to a survey by human resources consulting firm Kelly Services, Inc., up from 19 percent in 2006. [CNNMoney]
"Hire American" provisions frustrate universities, employers
At Duke University in North Carolina, where foreign nationals account for 60 percent of this year's master's class in engineering, Vivek Wadhwa is watching his students struggle to get jobs. The culprit is a law passed by Congress in February. It forces banks that receive federal bailout money to hire American citizens over foreign guest workers.[KansasCity.com]
EEOC Guidance on ADA-Compliant Planning for Swine Flu
The Equal Employment Opportunity Commission has published a document with answers to questions about workplace preparation strategies for the 2009 H1N1 flu virus (swine flu) that are compliant with the Americans with Disabilities Act (ADA). [HR.BLR.com]
Getting paid not to work
As many Americans are struggling to find a job, some are getting paid as much as $80,000 a year not to work. A number of third-year law students on the brink of graduation are being asked by their future employers to stay home for now - with pay. [CNNMoney]
| Company News: Wal-Mart latest retailer to reinvent prescription drug programs for companies By Vault | |
Union Takes Rare Front Seat in Deal for Chrysler
Labor unions usually dread bankruptcy, and for good reason. Their pay, benefits and pensions typically suffer significant cuts, as airline and steel workers can attest. But for the United Automobile Workers union, Chrysler's Chapter 11 case, which began in New York on Friday, could turn out to be - if the company survives and thrives - the Cadillac of bankruptcies. [The New York Times]
Boston Globe backs off threat to shut paper down
The Boston Globe will not take immediate action to shut down the newspaper after reaching agreements with six of its employees' seven unions, it said Monday. "We appreciate the productive and cooperative approach demonstrated by the leadership of these unions throughout these difficult negotiations," the newspaper said. [CNN]
Wal-Mart Expands Drug Program
Wal-Mart Stores Inc. is expanding a pilot prescription-drug program for companies, heating up the race among pharmacy retailers to transform the way drugs are priced and sold. The discount retailer is offering businesses low-priced drugs if they sign up to buy directly from Wal-Mart's network of in-store pharmacies, rather than contracting to buy drugs through third parties known as pharmacy-benefit managers. [The Wall Street Journal]
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