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Companies are starting to hire again, but many are turning their backs on older job seekers.
The unemployment rate for those in the 25 to 54-year-old age group has fallen from a record high of 9.2% in October to 8.7 percent in May. But the nationwide unemployment rate for older workers — while lower than that of younger workers — has barely moved since hitting a record high of 7.2 percent in December. It’s currently 7.1 percent. Get the full story »
Republican governor candidate Sen. Bill Brady today said he supports lowering Illinois’ minimum wage if he wins in November and the state rate remains higher than the federal one. “For the state of Illinois to come in and micromanage wages above the federal minimum wage is a mistake,” Brady, a state senator from Bloomington, told reporters.
A Democratic plan to provide additional aid to jobless workers, businesses and cash-strapped states and raise taxes on investment fund managers failed in the U.S. Senate.
The bill, which also would have provided more aid to cash-strapped states for the Medicaid health program for the poor, fell a few votes short of the 60 needed to advance in the 100-member Senate. One Democrat, Ben Nelson, joined 40 Republicans to block the measure. Get the full story »
From WREX TV | Harris Bank, which took over Amcore Bank on April 23, 2010, announced plans to close 18 former Amcore branches and eliminate jobs as part of its buyout reorganization.
T-Mobile said it has installed more antennas inside Chicago’s Union Station to provide better service inside and around the building.
The bolstered 3G network launched on Monday. The Bellevue, Wash.-based carrier said commuters at Union Station should notice improved coverage on the mezzanine and concourse levels, including areas such as the terminals, boarding lounges and the food court. Get the full story »
Associated Press | The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month and overshadowed a report that showed consumer prices remain essentially flat.
By Michael Oneal | The
Illinois unemployment rate slipped to 10.8 percent in May as the state
added jobs for the fifth month in a row.
But while some sectors such as manufacturing continued to improve, the
overall gains in May were due largely to government hiring tied to the
U.S. Census.
Associated Press | Caterpillar Inc. plans to invest nearly $700
million in the next four years to start producing a mining shovel and
expand production of trucks at plants in Illinois and India.
The
world’s largest maker of construction and mining equipment said Thursday
that it plans to build the new mining shovel product line at its Aurora
plant and expand truck production in Decatur and Chennai, India.
Associated Press | The number of people filing new claims for jobless benefits jumped
unexpectedly last week after three straight declines, another sign that
hiring remains weak. Initial claims for jobless benefits rose 12,000 to
a seasonally adjusted 472,000, the Labor Department said Thursday. It
was the highest level in a month.
From the Press-Enterprise | Abbott Labs has laid off 120 workers in its Abbott Vascular unit. The majority working at an Abbott manufacturing plant in Temecula, Calif. The company said it was part of a regular review process.
Get the full story: pe.com
From Advertising Age | Oprah Winfrey dropped by Hearst headquarters on Tuesday to mark the 10th anniversary of O, The Oprah Magazine, and gave every staffer an Apple iPad, a leather iPad case with the staffer’s initials, and a check for $10,000.
Associated Press | Republicans and a dozen Democratic defectors
in the Senate dealt a defeat to President Barack Obama Wednesday, just
days after he pressed Congress to renew pieces of last year’s economic
stimulus bill.
A catchall measure combining jobless aid for the long-term unemployed,
aid to cash-strapped state governments and the renewal of dozens of
popular tax breaks for businesses and individuals failed to muster even
a majority in a test vote, much less the 60 votes that would be
required to defeat a GOP filibuster.
By Phil Rosenthal | Jim O’Donnell, who covered horse racing with brio, penned features that often drew upon his encyclopedic recall of local lore and, periodically, wrote a provocative sports media column in a 13 1/2-year run with the Chicago Sun-Times, was among those cut this week by the newspaper. A spokeswoman for parent Sun-Times Media confirmed that two full-time editorial staffers had been let go, along with a part-timer.
Get the full story: Tower Ticker.
From MediaBistro | Digitas Chicago was named the “Best Place to Work in Illinois” in the larger employer category by the Business Ledger, in partnership with the Best Companies to Work Group.
Get the full story: mediabistro.com.
Associated Press | More people quit their jobs in the past three months than were laid off — a sharp reversal after 15 straight months in which layoffs exceeded voluntary departures. The trend suggests the job market is finally thawing.
Some of the quitters are leaving for new jobs. Others have no firm offers. But their newfound confidence about landing work is itself evidence of more hiring and a strengthening economy.
“There is a century’s worth of evidence that bears out this view that
quits rise and layoffs fall as the job market improves,” said Steven
Davis, an economist at the University of Chicago.
