In a move reflecting the recovering business of health of airlines, the pilots union for Continental Airlines said Friday that the carrier plans to recall more than 100 furloughed pilots over the next 18 months. Get the full story »
Filed under: Jobs/employment
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Unemployment rate climbs to 9.6%
Students seek employment during a U. of I. job fair in Springfield. (AP/Seth Perlman)
The nation’s jobless rate worsened slightly last month, edging up to 9.6 percent from 9.5 percent in July, the government said Friday in a report that had little for workers to cheer about this Labor Day weekend.
Overall, the American economy lost 54,000 net jobs in August, as another 114,000 temporary Census workers were dismissed from the federal government’s payrolls. Get the full story »
Illinois employment could improve later this year
Employment in Illinois may accelerate in the last quarter of the year, according to one survey by a California-based staffing firm.
A report released Thursday by Robert Half International said a net 12 percent of Illinois executives expect to hire more employees in the fourth quarter, an increase of 11 percentage points over sentiment measured in the third quarter. The company’s survey showed 19 percent of executives planned to staff up, while 7 percent were expecting to cut staff. Subtracting the 7 percent from the 19 percent generated the net 12 percent figure.
The Illinois figure reflects rosier sentiment in the state than nationally. Robert Half’s broad survey indicated that a net 6 percent of executives plan to increase hiring in the fourth quarter, up three percentage points from the third quarter. Get the full story »
Caterpillar opens new Arkansas factory, hiring 600
Caterpillar Inc. has formally opened a $140 million road grader plant in central Arkansas, a factory that the company built even though the economy went through the floor after it announced its intentions.
Caterpillar laid off 24,000 workers worldwide last year, but the North Little Rock plant stayed on course. Company officials say highway projects funded by stimulus money helped build demand for the new road graders.
More jobs cuts in August, but pace may ease
While the private sector slashed more jobs than expected in August, overall employers aren’t planning as many cuts for the future, two separate reports showed Wednesday. Get the full story »
CEO layoff leaders had highest in pay in ‘09
As U.S. companies shed millions of workers during the recession, the CEOs who laid off the most people brought home pay that was significantly higher than that of their peers, according to a Washington, D.C. think tank study.
The CEOs of the 50 U.S. companies that laid off the most workers between November 2008 and April 2010 were paid $12 million on average in 2009, or 42 percent more than the average across the Standard & Poor’s 500, the Institute for Policy Studies study said. Get the full story »
2-hour walkout at Sheraton Chicago
About 200 workers at the Sheraton Chicago Hotel and Towers walked off the job for two hours this afternoon to protest layoffs and understaffing at the hotel.
According to hotel union Unite Here Local 1, in recent months, workers have filed grievances with hotel management regarding staffing cuts and a growing reliance on subcontracted services. Get the full story »
County to help fund Boeing site at SW Illinois airport
The southwestern Illinois county that runs a 12-year-old airport that’s never turned a profit will spend $3.5 million to convert a warehouse into what Boeing Co. plans to make a 75-job manufacturing site. Get the full story »
ShoreBank’s buyer lays off 60 employees
An exterior view of ShoreBank at 3401 S. King Drive on the South Side, May 18, 2010. (Chris Walker/Chicago Tribune)
The company that bought ShoreBank has cut about 60 of the more than 300 positions at the recently failed South Side lender.
Urban Partnership Bank, the newly formed group that on Aug. 20 acquired ShoreBank through a deal brokered by the Federal Deposit Insurance Corp., said the job cuts were “a difficult decision.”
But “a smaller workforce is needed going forward in order for Urban Partnership Bank to continue the mission and to be a strong, sustainable player in our communities,” said Brian Berg, spokesman for Urban Partnership Bank. Get the full story »
Harley: Kansas City among choices for relocation
Harley-Davidson Inc. says Kansas City is one of the proposed cities where the motorcycle company might relocate some production.
Company spokesman Bob Klein said Friday a number of alternate sites remain on the table. He declined to say which other sites, or how many, are being considered. Get the full story »
Fortune Brands to hire 300 for Martha Stewart cabinets
Fortune Brands Inc., whose products range from tequila to golf clubs and faucets, will add more than 300 jobs in the next three years to build cabinets for The Home Depot Inc.’s new Martha Stewart Living kitchens line.
Fortune said Friday that Home Depot selected its MasterBrand Cabinets unit to supply the line, which launches next month in stores around the U.S.
Aug. 27, 2010 at 11:10 a.m.
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Filed under: Jobs/employment, Manufacturing, Sports, Stock activity Fortune Brands adds 300 jobs to cabinet business
Fortune Brands Inc., whose products range from tequila to golf clubs and faucets, will add more than 300 jobs in the next three years on new business for its MasterBrand Cabinets unit. Get the full story »
1 in 10 Illinois mortgage holders missed payments
Almost one in 10 of Illinois’ 1.7 million home mortgage loans were at least 30 days past due in the second quarter, a troubling sign that might spell more foreclosures in the future, according to new data released Thursday. Get the full story »
New weekly jobless claims fall sharply
New requests for unemployment benefits fell sharply last week after rising in the past three weeks. Still, claims remain much higher than they would be in a healthy economy.
The Labor Department says new claims for jobless aid dropped by 31,000 to a seasonally adjusted 473,000. Wall Street economists had expected a smaller drop, according to surveys by Thomson Reuters. Get the full story »
