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Archive for January 30th, 2010

US Economy Update


National Unemployment Rate by county
Receiving this from work email I thought it was a cool app. Away from the techie side a bit, somehow the black squares when showing up they really do look haunting. This is the report from Department of Labor, however. The report by the local Workforce Board would be more reliable.
It’s a bit depressing just to think about how this has all ended up this far, and how much longer the national workforce is suffering. Labor industry is hurt the most. Former auto, utility, and chemical plant employees are tired of being let go. They go back to school for advanced education; others choose to work for fast food or restaurant chains, others wait for better days/chances and extend their UI benefits; some become independent business owners. When one industry suffers the loss, there is always another that gains, or better phrased as “carries the burden”. The universe seems to work that way. America already sees the increasing demand and therefore import of nurses and contracted labor (what we hear from the debate is a reformed policy on visa-ed laborers and immigrants from South America). On the other hand, many ex high-profile professionals become depressed, go into mental breakdowns. Mental health-care professionals are needed now more than ever. Obama has now issued new rules on insurance coverage to include mental healthcare to people insured through their jobs.
To say “TX has added more jobs in the year or the last 2 quarters of 2008” was a ballooning. Yes, there was some addition stimulated by the ARRA fund, and from what I saw it was the temporary addition for summer youth program. Sources from the Texas Enterprise Fund and TX Watchdog group prove that, while the companies or banks who receive stimulus funds have a commitment to not reduce jobs, they don’t always keep their promises. Where they added those people in, we just have to look at teh figures again and find out.
Dislocated workers need not only assistance for just tuition but also for transportation going to school, for their kids in daycare, for housing, and so on. Companies get funded to deliver and retain jobs. Eventually stimulus fund for workforce will run out. Borrowing more from the taxpayers is not a resolution. I hope as stated and suggested to the governor that TX will have leveraged out the funds from other departments which have pending or non-approved or non-necessary projects. As a learning lesson from CA and other states, all state local workforce boards are required to be equipped with strong financial management and service delivery practices. Those states collecting the E/UI tax payments from businesses can manage themselves will manage to deliver workforce service with responsibilities.

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