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To learn more go to: http://bea.gov/newsreleases/glance.htm
Wednesday, July 9, 2008
BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on are drawn from featured BEA economic accounts.
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To learn more go to: http://bea.gov/newsreleases/glance.htm
(Click on image to expand)
To learn more go to: http://bea.gov/newsreleases/glance.htm
Wednesday, June 25, 2008
Social Security Verification Upgrade
E-Verify is an Internet-based system operated by U.S. Citizenship and Immigration Services (USCIS) in partnership with the Social Security Administration (SSA). E-Verify is currently free to employers and is available in all 50 states. E-Verify provides an automated link to federal databases to help employers determine employment eligibility of new hires and the validity of their Social Security numbers.
To register or learn more go to: www.uscis.gov/E-Verify
To register or learn more go to: www.uscis.gov/E-Verify
Friday, June 20, 2008
Skilled Worker Shortage Report
ATS recently released a report highlighting the impact of the pending worker shortage. This is not just a Central Illinois issue - but we could become leaders in finding a solution.
ATS Survey
ATS Survey
Friday, May 23, 2008
Goldman Sachs - BRIC Report - Amazing!
Goldman Sachs, a global investment firm, has spent considerable resources developing a report about what countries will dominate the global economy. Some of the report is almost five years old but still holds relevant information. The question is - What can Central Illinois to capitalize on the new markets?
(excerpt from Goldman Sachs web page)
The results are startling. If things go right, in less than 40 years, the BRICs (BRIC - an acronym for Brazil, Russia, India and China) economies together could be larger than the G6 in US dollar terms. By 2025 they could account for over half the size of the G6. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050. The list of the world's ten largest economies may look quite different in 2050. The largest economies in the world (by GDP) may no longer be the richest (by income per capita), making strategic choices for firms more complex.
To learn more go to: http://www2.goldmansachs.com/ideas/brics/index.html
(excerpt from Goldman Sachs web page)
The results are startling. If things go right, in less than 40 years, the BRICs (BRIC - an acronym for Brazil, Russia, India and China) economies together could be larger than the G6 in US dollar terms. By 2025 they could account for over half the size of the G6. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050. The list of the world's ten largest economies may look quite different in 2050. The largest economies in the world (by GDP) may no longer be the richest (by income per capita), making strategic choices for firms more complex.
To learn more go to: http://www2.goldmansachs.com/ideas/brics/index.html
Monday, May 19, 2008
Around the World in Eight Charts
http://www.bls.gov/spotlight/
The Bureau of Labor Statistics has put together a great report comparing/contrasting the U.S. to other countries. The first report highlights youth unemployment rates. I think it would be great if the U.S. and/or Peoria focused more on developing apprecenticeship programs. The report covers other topics too.
BLS provides information on employment, unemployment, productivity, compensation costs, and other labor-related measures for countries in the Americas, Europe, and Asia and the Pacific.
http://www.bls.gov/spotlight/
The Bureau of Labor Statistics has put together a great report comparing/contrasting the U.S. to other countries. The first report highlights youth unemployment rates. I think it would be great if the U.S. and/or Peoria focused more on developing apprecenticeship programs. The report covers other topics too.
BLS provides information on employment, unemployment, productivity, compensation costs, and other labor-related measures for countries in the Americas, Europe, and Asia and the Pacific.
http://www.bls.gov/spotlight/
Monday, April 28, 2008
Employment Trend: Intern First, Then Full-Time Hire
Increasingly, employers are looking to their internship programs to find new employees, according to results of a new survey conducted by the National Association of Colleges and Employers (NACE).
Results of NACE’s 2008 Experiential Education Survey show that emphasis on hiring from the intern program is growing. Employers reported that nearly 36 percent of the new college graduates they hired from the Class of 2007 came from their own internship programs, up from 30 percent from the Class of 2005.
In addition, “more interns are getting offers of full-time employment,” says Marilyn Mackes, NACE executive director. “Currently, employers say they extended job offers to nearly 70 percent of their interns; in 2001, they offered jobs to 57 percent.”
The trend toward using the internship program to feed hiring is fueled, in part, by employer satisfaction with interns and internship programs. “Nearly 90 percent of employers who use their programs to hire say they are very or extremely satisfied with their interns, and employers consistently name the internship program as one of the most effective tools they have for hiring new college graduates,” says Mackes. “Employers see results with these programs.”
Survey findings also indicate that interns who become full-time hires are more likely to stick with the organization than their co-workers who didn’t go through the program: More than one-third of employers (37.3 percent) reported higher retention among those converted from intern to employee within the first year of hire, and nearly half (48.8 percent) said former interns had higher retention five years after hire.
Not surprisingly, employers expect to add to their intern numbers this year: Respondents project a 3.7 percent increase in the number of interns they bring on in 2007-08, building their pool of potential full-time hires for next year.
About the NACE 2008 Experiential Education Survey: The NACE 2008 Experiential Education Survey was conducted from November 21, 2007, through January 11, 2008. Surveys were provided to 1,189 NACE employers members; 311, or 26.2 percent, responded. www.naceweb.org
Results of NACE’s 2008 Experiential Education Survey show that emphasis on hiring from the intern program is growing. Employers reported that nearly 36 percent of the new college graduates they hired from the Class of 2007 came from their own internship programs, up from 30 percent from the Class of 2005.
In addition, “more interns are getting offers of full-time employment,” says Marilyn Mackes, NACE executive director. “Currently, employers say they extended job offers to nearly 70 percent of their interns; in 2001, they offered jobs to 57 percent.”
The trend toward using the internship program to feed hiring is fueled, in part, by employer satisfaction with interns and internship programs. “Nearly 90 percent of employers who use their programs to hire say they are very or extremely satisfied with their interns, and employers consistently name the internship program as one of the most effective tools they have for hiring new college graduates,” says Mackes. “Employers see results with these programs.”
Survey findings also indicate that interns who become full-time hires are more likely to stick with the organization than their co-workers who didn’t go through the program: More than one-third of employers (37.3 percent) reported higher retention among those converted from intern to employee within the first year of hire, and nearly half (48.8 percent) said former interns had higher retention five years after hire.
Not surprisingly, employers expect to add to their intern numbers this year: Respondents project a 3.7 percent increase in the number of interns they bring on in 2007-08, building their pool of potential full-time hires for next year.
About the NACE 2008 Experiential Education Survey: The NACE 2008 Experiential Education Survey was conducted from November 21, 2007, through January 11, 2008. Surveys were provided to 1,189 NACE employers members; 311, or 26.2 percent, responded. www.naceweb.org
Peoria County, Illinois 2006 Workforce Article
Contributed by Matt
In Peoria County, Illinois, the total employment throughout all industries has increased by 3.5%, or 3,475 jobs, from 2001 to 2006. From the 140 3-digit NAICS industries, 21 did not experience any change, 55 reported job growth in the duration of the last five years, and 64 industry sectors reported declines during the time period.
Of the industries (3-digit NAICS) in the area, the Professional and technical services industry has brought the most jobs with a total of 7,570 total jobs brought in during the period. The growth in Professional and technical services makes up
3.8% percent of the growth in Peoria County, Illinois.
3.8% percent of the growth in Peoria County, Illinois.
Top Growing Industries:
1. Professional and technical services (7,570 new jobs)
2. Executive, legislative and general government (2,313 new jobs)
3. Credit intermediation and related activities (1,608 new jobs)
4. Hospitals (1,357 new jobs)
5. Administrative and support services (671 new jobs)
From of the area's 3-digit NAICS industries, the Food services and drinking places industry faced the greatest employment loss with a total loss of 1011 jobs. The declines in Food services and drinking places makes up 2.9% percent of the total job loss in Peoria County, Illinois.
Top Declining Industries:
1. Food services and drinking places (1011 jobs lost)
2. Postal service (636 jobs lost)
3. Nursing and residential care facilities (386 jobs lost)
4. Support activities for transportation (273 jobs lost)
5. Fabricated metal product manufacturing (233 jobs lost)
1. Food services and drinking places (1011 jobs lost)
2. Postal service (636 jobs lost)
3. Nursing and residential care facilities (386 jobs lost)
4. Support activities for transportation (273 jobs lost)
5. Fabricated metal product manufacturing (233 jobs lost)
eCanned - The Economy in a Can
http://www.ecanned.com/V2
http://www.ecanned.com/V2
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