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Lil Wayne Mocks Mitt Romney In New Song

Nicki Minaj got the headlines for saying she’d be “voting for Mitt Romney,” but another track on Lil Wayne’s Dedication 4 ridicules the GOP candidate, too. “Nigga call me Mitch Romney!”

By Michael Hastings

Nicki Minaj made headlines when she sort of endorsed Mitt Romney in a remix of the hit song “Mercy” on Lil Wayne’s new album Dedication 4, released earlier this month.

But another song on the album — called “Cashed Out” — also mocks Romney, taking shots at the GOP candidates strategy of stashing his money in off-shore bank accounts in Bermuda, the Caymans, and Switzerland, to name a few.

The song begins:

As another election year upon us. This last four years has been good to me. A couple of dollars in a couple different bank acccounts. Some here, some off shore. Nigga call me Mitch Romney!

In recent days, questions have been raised about whether the hip-hop community still supports Obama. The answer appears to be: yes.

President Obama with Jay-Z and Beyonce at a recent New York fundraiser.

Lil Wayne Mocks Mitt Romney In New Song

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Hiring Slows in August, Adding to Pressure on Fed and Obama

The economy added 96,000 jobs in August, the Labor Department said Friday.

By 

Job growth slowed substantially in August, increasing the political pressure on the White House and strengthening the argument for new action by Federal Reserve policy makers to stimulate the economy when they meet next week.

The economy added a total of 96,000 jobs in August, down from a revised figure of 141,000 in July and well below the 125,000 level economists had been expecting.

The latest figures confirm suspicions that the economy has been treading water recently — over the last six months, monthly job growth has averaged 97,000, typically not enough to absorb new entrants into the labor force, let alone reduce the unemployment rate.

For August, the jobless rate fell to 8.1 percent, from 8.3 percent in July, but economists said that was a sign more unemployed workers were dropping out of the work force, rather than an indication that new jobs were being created.

Current and former members of the military at a job fair on Thursday in San Diego.

Republicans have made persistently high unemployment a centerpiece of their argument for denying President Obama a second term, and the new figures give the White House little to boast about.

“This is one of those reports that as you dig deeper, it looks less friendly,” said Ethan Harris, co-head of global economics at Bank of America Merrill Lynch. “The improvement in the rate was purely due to people who gave up looking for jobs.”

Indeed, he noted that the government report showed the overall labor force dropped by 368,000 workers in August.

“Politically, you can spin the drop in the rate as a positive, but it’s a sign of weakness,” Mr. Harris said. “The economy is slowing down and it wasn’t very robust to begin with.”

Ben S. Bernanke, the chairman of the Federal Reserve, last week delivered a forceful argument for more action, calling the current unemployment level a “grave concern.”

The Federal Reserve’s Open Market Committee convenes on Wednesday and Thursday, and many economists and traders are looking for major news to come out of the meeting. Some expect the Fed to announce another round of asset purchases aimed at lowering borrowing costs and boosting investments. A more limited option would be for the Fed to extend its benchmark interest rate, set near zero, into 2015 from late 2014.

The rate of job creation has been erratic in 2012. After adding more than 200,000 jobs in both January and February, the economy slowed and by June the gain totaled an anemic 80,000. It bounced back in July, but few economists see big gains in the coming months.

Friday’s report showed that the private sector created a total of 103,000 jobs in August, while the number of government jobs fell by 7,000.

In order to make a significant dent in the unemployment rate, the economy would have to add at least 200,000 jobs a month, assuming modest growth in the labor force.

The manufacturing sector, a closely watched barometer for the broader economy, lost 15,000 jobs.

Sectors that did show growth in employment tended to be lower-paying ones, said Mark Vitner, a senior economist with Wells Fargo. About 40 percent of the new jobs came from four sectors: retail, leisure and hospitality, temporary help services, and home health care services.

“This is one of the reasons wages haven’t been growing,” he said. “People are taking jobs they didn’t take in the past, moving from sectors like construction into jobs at lower-paying, big-box retailers.”

There were other signs the economy remained stuck in low gear. Average hourly earnings ticked downward by 1 cent in August to $23.52 while the length of the typical private sector workweek remained flat at 34.4 hours. Both measures have barely budged from where they were six months ago.

Hiring Slows in August, Adding to Pressure on Fed and Obama

 

Housing improves in hard-hit swing states

By Tami Luhby @CNNMoney

Housing gains may not register with voters, especially in swing states, ahead of the election.

At long last, the housing market is improving in Nevada, Florida and other important swing states that were some of the hardest hit during the downturn.

But that probably won’t win President Obama a lot of points at the election polls, according to some experts.

On the national front, home pricesand home sales are up, whileforeclosures are down. The swing states are also seeing some positive results.

In Nevada, there were just over 14,000 foreclosure filings in the second quarter, less than half the amount the year before, according to RealtyTrac. Foreclosure sales are on the decline after a state law last year cracked down on loan servicers’ practices, while short sales are on the rise. Short sales are better for neighborhoods because the homes are often maintained better and command higher prices.

Get a home in one of Money’s Best Places to Live for as much as $94,000 off.

The median price of a single family home in the Las Vegas area, by far the largest market in the state, has climbed 9% over the past year, according to the Greater Las Vegas Association of Realtors.

And in Florida, foreclosures are creeping up again as banks recover from their paperwork fiasco, which forced them to greatly slow the number of delinquent homeowners they brought to court. But it’s still down by about a third from 2010 figures.

The typical single family home is selling for 7.8% more than it did a year ago, according to Florida Realtors. Median sales prices are the highest they’ve been since 2009.

Home prices are up thanks to a rebound in employment and in the stock market, said John Tuccillo, chief economist for the Realtors group. Investors, particularly from abroad, are once again realizing the Sunshine State is a good place to buy, he said.

In Ohio, prices rose 4.9%, according to the Ohio Association of Realtors. Foreclosures, however, are on the upswing.

Related: Obama’s economy: A snapshot

But rising home prices don’t mean there aren’t any dark clouds hovering over the swing states. The good news about housing doesn’t seem to be trickling down to voters, who still view their states as being stuck in a real estate slump with little improvement.

“The housing market is starting to recover in most areas of the country, but most consumers don’t realize it,” said John Burns, head of John Burns Real Estate Consulting. “The word hasn’t gotten out that home prices are appreciating again.”

One main concern that’s dampening homeowners’ enthusiasm is the number of homes that are underwater, or worth less than the mortgage. Nearly 31% of homeowners nationwide are in this predicament, a disproportionate number of them younger than 40, according to Zillow.

That problem is amplified in some of the swing states.

In the metro Las Vegas area, more than two-thirds of borrowers are underwater. More than half of Orlando borrowers owe more than their homes are worth, while in the Miami-Fort-Lauderdale market nearly 44% do. In Cleveland and Columbus, one-third are underwater.

Also, many would-be buyers are finding it tough to get approved for mortgages, while homeowners seeking to refinance to lower interest rates are also being stymied by bank bureaucracy.

“We’re significantly better off than we were two years ago, but there are still enough problems remaining for people to be concerned about their housing situation,” Tuccillo said.

Will it be enough to sway swing state voters?

For the most part, the presidential candidates are largely ignoring the housing market.

While Obama launched a series of efforts to try to fix housing since he first took office in 2009, they were mostly viewed as ineffective. Not many new ideas have been included in his 2012 campaign either.

His challenger, Mitt Romney, does not list any housing fixes in his economic proposal. And the Republican platform unveiled last week talks only of dismantling Fannie Mae and Freddie Mac and curtailing the Federal Housing Administration.

Ultimately, many voters will tie the recovery of the housing market to the recovery of the job market, Burns said. So they will pick the candidate they think can best boost the economy.

Housing improves in hard-hit swing states

Jobs Outlook Remains Tepid

By ECONOMIX EDITORS

This week’s economic data has come in broadly as expected, leaving the forecasters at Moody’s Analytics to continue to forecast that job growth will be slower in August — but still faster than it was in the spring. The latest post on Moody’s Dismal Scientist blog explains:

Labor market data over the past week confirm that August has been a sluggish month for job creation. We still look for a 145,000 increase in nonfarm payrolls, not far from July’s 163,000 gain and above the second quarter average of 73,000. The unemployment rate likely edged down to 8.2% this month from July’s 8.3%. While improving slowly, the U.S. job market is generating little wage income growth, which will be felt as rising gasoline and food prices test consumers’ resilience.

The Moody’s assessment, however, goes on to cite “reasons for concern that the August numbers could undershoot our forecast,” including a rise in the four-week moving average of continuing claims for unemployment benefits, aweakening index of consumer confidence and a region-by-region Fed report (known as the beige book) that was “not upbeat about the health of the job market.” It adds:

Each employment report is important, but this month’s will be especially so, as it comes as the Fed considers new round of quantitative easing. If the numbers are notably weaker than expected, the odds of near-term Fed action will rise.

Moody’s projections continue to indicate that the presidential election will remain close. As we’ve written previously, history suggests that average job gains between 100,000 and 175,000 in the six months before an election tend to lead to a close race.

Jobs Outlook Remains Tepid

Find A Job – Find The Job That’s Right For You

Where the jobs are

It’s still a tough job market, but these 25 counties can make it a lot easier to find work and a great place to live.

1. Loudoun County, VA

Loudoun County, VA

Towns include: Ashburn

Job growth (2000-2011): 83.6%

 

Got data? Loudoun County does. Lots of it. With its expansive fiber networks and a swarm of tech workers, it’s a major traffic hub on the East Coast.

Major employers include Verizon Business and AOL, but the latest boom to hit this pocket of Northern Virginia’s high-tech economy? Data centers, which now occupy 4.3 million square feet in the county, earning Loudoun the nickname “Data Center Alley.”

2. Fort Bend County, TX

Fort Bend County, TX

Towns include: Sugar LandMissouri City

Job growth (2000-2011): 78.1%

 

Fort Bend County has come a long way from its farming days. Now it’s better known for growing jobs than for growing crops.

A favorable tax structure, strong school system and easy access to Houston make the county a triple threat when it comes to attracting — and keeping businesses. Engineering firm Fluor Enterprises, a major employer, is buying new land for a facility that is expected to add 2,000 jobs when completed.

3. Williamson County, TX

Williamson County, TX

Towns include: Cedar Park,GeorgetownRound Rock

Job growth (2000-2011): 73.8%

 

Central Texas’ Williamson County hits the bull’s eye when it comes to offering incentives for big business. Corporate tax breaks and low property taxes have attracted the likes of top-flight companies such as Dell, which employs 13,000 at its headquarters in Round Rock.

The rapid development of nearby Austin has spurred the growth of so-called “super suburbs” like Williamson County’s Round Rock and Cedar Park, where affordable housing, cultural offerings and numerous parks and trails win points with young families.

4. Montgomery County, TX

Montgomery County, TX

Towns include: The Woodlands

Job growth (2000-2011): 63.5%

 

Business in Montgomery County is soaring. Anadarko Petroleum is constructing a massive new 31-story tower at its headquarters in the commercial hub of the East Texas Woodlands. When completed in 2014, the skyscraper will accommodate 1,700.

Companies here aren’t just building up, they’re building out. Exxon Mobil is constructing a 385-acre campus that will house employees currently working in Houston. The oil giant is expected to relocate an additional 2,000 jobs from out of state to the new complex.

5. Douglas County, CO

Douglas County, CO

Towns include: Highlands Ranch,Castle Rock

Job growth (2000-2011): 58.6%

 

Douglas County is on a Rocky Mountain High. The area is chalking up job gains, as companies choose to relocate and expand existing operations here.

With Denver to its north and Colorado Springs to the south, the county has the enviable position of being located between the state’s two biggest cities. Its natural beauty and abundant sunshine don’t hurt either.

6. Collin County, TX

Collin County, TX

Towns include: FriscoAllenPlano,McKinney

Job growth (2000-2011): 55.9%

 

Collin County is no longer just the country cousin of the Dallas-Fort Worth Metroplex. With an influx of young families — overall population is up 59% since 2000 — its vast pool of workers is helping the area develop its own business base.

A few area companies have been hit hard by the sluggish economy. Big employers J.C. Penney and HP both recently streamlined operations. But others are growing fast. Oil and gas firm Denbury Resources is expanding its corporate campus in Plano, which is expected to add hundreds of jobs.

7. Denton County, TX

Denton County, TX

Towns include: Flower Mound,LewisvilleDenton

Job growth (2000-2011): 53.4%

 

Manufacturing is Peerless in Denton County. Earlier this month, PMFG’s Peerless Mfg. Co. broke ground on an 80,000-square-foot facility that will employ more than 150 when fully operational.

In addition to manufacturing, retail is important to the local economy. The presence of the University of North Texas, a major research school, also helps drive the medical services sector.

8. Prince William County, VA

Prince William County, VA

Towns include: Dale City

Job growth (2000-2011): 48.6%

 

Prince William County takes the crown when it comes to offering enticing perks to businesses. Expedited permits for companies in “targeted” industries that promise high-paying jobs and capital investment is just one of the ways it rolls out the red carpet.

Also behind the job boom: proximity to the D.C. Beltway, a smart workforce and competitive tax rates. Some 770 new jobs were announced last year, a nearly 14% increase from the previous year.

9. Suffolk County, VA

Suffolk County, VA

Towns include: Suffolk

Job growth (2000-2011): 43.0%

 

It’s smooth sailing for job growth in Suffolk, thanks to the Navy’s recent decision to relocate four commands here. The move will add nearly 1,000 jobs — which is about the total number of new jobs added to the area in all of 2011.

The Navy found a solid berth. Suffolk is located close to the Port of Virginia, and like many of the places on our list, quality of life is a big selling point here. Schools, transportation and community are all strong in this city with historic charm.

10. Williamson County, TN

Williamson County, TN

Towns include: Franklin

Job growth (2000-2011): 40.3%

 

Williamson County likes to treat companies to a good dose of Southern hospitality. Businesses choosing it as a base can be eligible for “concierge permitting,” which assigns them a dedicated staff member from the local codes department who helps speed up zoning and permitting issues.

The charm offensive, combined with the county’s highly skilled workforce and easy access to downtown Nashville, is paying off. Corporate giants like Verizon Wireless, Nissan Americas and United Health Group have flocked to the region.

The latest major player to join the 6,000 corporations that have outfits here is Viacom, which launched a services center this year that is expected to create more than 100 new jobs.

11. Sarpy County, NE                         16. Cass County, ND                   

12. Wake County, NC                         17. Lafayette County, LA           

13. Faulkner County, AR                 18. Burleigh County, ND

14. Houston County, GA                  19. Leon County, FL                   

15. Bonneville County, ID                20. Johnson County, IA

21. Anchorage County, AK           22. Pennington County, SD

23. Minnehaha County, SD           24. Washington County, TN

25. Garfield County, OK

Where the jobs are

 

Claims for Jobless Benefits Rise

The number of Americans seeking unemployment benefits for the first time rose a slight 4,000 last week to a seasonally adjusted 372,000, the Labor Department said Thursday, evidence that the job market’s recovery remains modest and uneven.

Separately, the Commerce Department said new-home sales rose 3.6 percent in July.

Applications for unemployment benefits are a measure of the pace of layoffs. When they fall consistently below 375,000, it generally suggests hiring is strong enough to lower the unemployment rate.

New claims for unemployment benefits have risen for two straight weeks. But they are still lower than they were five weeks ago. That suggests hiring may be improving slightly this month.

The four-week average, a less volatile measure, increased 3,750 last week to 368,000.

Better economic growth bolstered hiring last month, according to government figures. Employers added 163,000 jobs in July, the most since February. Job gains averaged only 73,000 jobs a month from April through June, not enough to keep up with a rising population. The unemployment rate rose to 8.3 percent in July, from 8.2 percent the month before.

Many economists say stronger growth is needed to create enough jobs to lower unemployment. The economy grew at an annual rate of 1.5 percent from April through June, down from 2 percent in the first quarter and 4.1 percent in the fourth quarter of 2011.

In a separate report, the government said sales of newly constructed homes in the United States rose 3.6 percent in July, matching a two-year high, to an annual rate of 372,000 units.

In the past 12 months, new-home sales have jumped 25 percent. Still, the increase is from a historically low level. New-home sales are well below the annual pace of 700,000 that economists consider healthy.

One trend holding back sales is that there aren’t many newly built homes available. New homes for sale dipped last month to 142,000, the lowest on records dating back to 1963.

Claims for Jobless Benefits Rise

Has the world changed for working women?

by 4word

Ladies, meet Laura Rodriguez, a fellow 4word woman and reader of Work, Love, Pray. Laura is a recent graduate of the Yale School of Management, and she now works at Barclays’ Investment Banking Division, covering the Commercial Real Estate sector.

As you’ll read below, Laura notes similarities between her mother’s career and Diane’s, and she sat down with us this weekend to discuss the question: has the world changed for working women?

4word: How did you hear about 4word and Work, Love, Pray?

Laura: At Yale, I was one of the leaders of the Christian Fellowship, which had the privilege of hosting an annual conference, “Believers in Business,” for Christian MBA students and graduates across the nation. This year, Diane Paddison participated as a speaker and panelist, and I happened upon her bio on our website.

As a newly minted MBA working very much in a man’s world and struggling with my own questions of how to balance my faith, relationships and career, I was immediately intrigued by Diane’s mission. During some down time over the Christmas holiday, I picked up a copy of Work, Love, Pray and devoured it in one sitting. It was so refreshing to hear I wasn’t alone.

4word: You mentioned in your book recommendation that being a working mother is a “paradoxical path” that “can still feel lonely and misunderstood.” Can you tell us more about that?

Laura: I grew up with an ambitious working mother who I tremendously admire. She climbed a steep corporate ladder in the oil and gas industry and is now an executive at ExxonMobil.  She has traveled the world, opened new doors for herself and for us yet still kept faith and ethics as the ultimate priority.

However, the struggle was palpable in balancing the demands of a global corporate job and the desire to meet the needs of our family. It didn’t help much that we were based in Houston, where there was a significant judgment on women who didn’t stay home, at least in the well-to-do suburb I grew up in. As I have grown, I now see my mother’s bravery – in the use of spiritual gifts but particularly in her self-sacrifice to set boundaries in her career to support our family.

The problem is that our society still tends to view things in black and white. Anne-Marie Slaughter’s now-famous article in The Atlantic highlights this well, as does all the media coverage of the appointment of Marissa Mayer as CEO of Yahoo while 6 months pregnant. As a working mother, you may be able to have it all, but you just can’t win – at least when it comes to mass societal approval.

4word: How has your own experience as a career woman been similar to that of your own mother’s and/or Diane’s?

Laura: When I look at my mother and hear Diane’s story, it’s clear that the Lord’s hand laid a path for them that they probably wouldn’t have chosen on their own. My own journey has been very winding and one where I have had to immensely trust the Lord’s plan for my life.

When things get rocky or uncertain, I have been fortunate to have a strong sense of peace about where I am at the moment. I am also very fortunate to have a wonderfully supportive husband who inspires me every day in his brilliance, generosity and drive.

4word: And how has it been different? Have you noticed any societal/cultural changes that have helped working women?

Laura: What I find ironic is that in my experience in the workplace, being a woman is actually advantageous. For one, you stand out, and two, many companies recognize the importance of attracting and retaining women in creating a more balanced and successful business. This often gives women leverage to step up and ask for things that our mothers and grandmothers may not have had.

But the moment you step out of the office, not much has changed for working women in the constant emotional battle we fight with perception and reality. The opportunities available to women have increased hundred-fold, but the entrenchment of “sides” – at work versus at home – cripples women as a whole instead of empowering us to ask for more.

I think 4word is an important channel to address these issues and more importantly, build true community amongst Christian women of all perspectives.

Has the world changed for working women?

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Google will lay off 4,000 workers

Positions at Motorola Mobility to be eliminated

A Motorola Mobility Xoom tablet is shown in 2011 at Google headquarters in Mountain View. On Monday, Google announced it will cut about 4,000 jobs at its Motorola Mobility cellphone business and will close or consolidate about one-third of its 90 locations

By Peter Svensson

Google Inc. is making its largest round of layoffs ever as it announced plans to cut about 4,000 jobs at Motorola Mobility just three months after buying the struggling cellphone pioneer.

The move isn’t surprising given years of plummeting sales at Motorola, but it signals that Google doesn’t intend to drag Motorola along as a money-losing venture.

After the announcement, Google’s stock rose $18.01, or 2.8 percent, to close Monday at $660.01.

The reductions represent about 20 percent of Motorola Mobility’s 20,000 employees and 7 percent of Google’s overall work force. Google says two-thirds of the job cuts will take place outside of the U.S.

Google, which has been growing for more than a decade, doesn’t have a history of mass layoffs. In previous rounds of layoffs, Google at most had cut a few hundred workers.

Motorola, however, cut thousands of jobs in recent years as its cellphone division saw sales plummet. Although it pioneered the U.S. cellphone industry in the 1980s, it hasn’t produced a mass-market hit since it introduced the Razr cellphone in 2004. Once the second-largest phone maker in the world, Motorola no longer ranks in the top 5.

Google workers ride bikes April 12 outside of Google headquarters in Mountain View.

Motorola now makes phones that run on Google’s Android operating software, but rivals such as Samsung Electronics Co. have been more successful at it.

Motorola split into two in early 2011. Google snapped up Motorola Mobility, the half that makes cellphones and cable set-top boxes, for $12.4 billion. Motorola Solutions, which makes police scanners and other professional products, remains a separate company.

The Motorola deal is Google’s largest acquisition ever and plunges it into the business of consumer products. It puts Google in a position of competing with the same companies it considers partners.

Google has pledged to keep the Motorola hardware business separate from its Android software division and promised to treat Motorola like an outside company. It turned to AsusTek Computer Inc. rather than its own division to make a Google-branded tablet computer called Nexus 7.

Google’s chief goal in buying Motorola was to use its large patent portfolio to bolster its legal defenses.

Apple has been suing Samsung, Motorola and other makers of Android smartphones, saying they copied the iPhone. By acquiring Motorola’s patents and transferring them to Android phone makers such as HTC Corp., Google can bolster their legal defenses and set them up to counter-sue Apple.

Morgan Stanley analyst Scott Devitt wrote in a morning report, before Google’s announcement, that he believes Google is limiting its ambitions for Motorola Mobility, a strategy he believes to be good for investors.

Devitt expects Google to curtail Motorola to producing just a few smartphone designs per year and perhaps some tablets as well.

Before the acquisition, Motorola had been trying to turn itself around by focusing on smartphones, which have higher profit margins than regular cellphones.

In the first quarter, Motorola sold 5.1 million smartphones and 3.7 million “dumb” phones. The cuts announced Monday will shift the company toward smartphones even further.

The migration toward smartphones has slowed Motorola’s decline, but it has still lost money in 14 out of the past 16 quarters.

Google said in a filing with the Securities and Exchange Commission that the latest cuts are intended to make the business profitable.

But the company warned that investors should expect revenue to fluctuate over the next few quarters, and sales will drop before the cost savings take effect.

Severance payments will cost Google about $275 million, which will largely be charged in the current quarter. The company also expects to book an unspecified amount in restructuring charges, mostly in the quarter.

Google also said it will close or consolidate about one-third of its 90 locations.

Google will lay off 4,000 workers

As jobs become available, the vacancies are most often at the bottom

In recent months, several local companies in a variety of sectors have turned to familiar faces to take on key executive roles. Defense giant Lockheed Martin announced in April that its chief operating officer, Christopher E. Kubasik, above, would replace retiring chief executive Robert J. Stevens.

By 

High-level executives looking to nab a new C-suite job in the Washington area may be hard-pressed to find a place to send their résumé.

Hiring specialists and others say that local companies are frequently filling top positions from within their own ranks instead of casting a wider net, a trend that began during the recession and has continued under the uncertainty of a sluggish recovery.

And after promoting from the inside, businesses are more likely to have job openings on the lower rungs of their corporate ladder, which can create a domino effect of opportunity for the many entry-level workers who have flocked to the region in recent years.

When it comes to executive jobs, “There are fewer of them, and [hiring] is not happening in the same way with the same frequency,” said Paul Villella, chief executive of Reston-based staffing firm HireStrategy.

In recent months, several local companies in a variety of sectors have turned to familiar faces to take on key executive roles. Defense giant Lockheed Martin announced in April that its chief operating officer, Christopher E. Kubasik, would replace retiring chief executive Robert J. Stevens. In December, J.W. Marriott Jr. announced that company veteran Arne M. Sorenson would take over as the hotel chain’s chief executive. In February, Rosetta Stone promoted Stephen M. Swad, its chief financial officer, to president and chief executive.

In some cases, firms are handling a departure at the top by spreading around that person’s duties among other senior leaders, allowing them to eliminate the position.

Other times, companies are absorbing these losses with more of a chain-reaction strategy.

“Everybody moves up a notch, but the new person comes in at the bottom,” said Lisa Sturtevant, a researcher at George Mason University’s Center for Regional Analysis.

This method of filling vacancies, Sturtevant said, helps explain a recent influx of entry-level workers to the area.

According to Sturtevant’s analysis of data from the U.S. Census Bureau, about 32,000, or 13 percent, of the 250,000 workers who moved to the area from 2008 through 2010 were between 22 and 24 years old.

She said this age group “always should be a big share of movers, but this is bigger than the past.”

Seven percent of the population that lives here are 18 to 24, according to Sturtevant’s research.

As the job market crumbled elsewhere in the country, the Washington metropolitan area fared relatively well, largely because of its economy’s dependence on the fairly stable federal government.

That may be changing as the federal government looks to cut back. As other cities’ economies have picked up, so too has their ability to compete for young workers.

Still, at least some recent college graduates continue to see Washington as a place of opportunity.

Rachael Peli, a 2012 graduate of Anderson University in Indiana, said it was a key part of her decision to move to the District.

“It was mostly the jobs, to be honest,” Peli said.

She applied to jobs in Chicago, Indiana and on the West Coast, but ultimately she said she decided, “There are so many more opportunities in my field if I go to D.C.”

Shortly after arriving, she landed a position in the digital public affairs practice at Edelman.

Joe DeGioia, president of executive search firm JDG Associates, says the challenges facing executive-level job candidates may vary by sector. The constriction in high-level hiring in the recent past, he said, occurred largely among administrative or human resource jobs. However, marketing and sales executives are more in demand.

“Everybody needs more business,” DeGioia said, and these leaders would be on the front lines of generating it.

As jobs become available, the vacancies are most often at the bottom

 

Canada lost 30,400 jobs in July

Workers at a McDonald's prepare meals at a restaurant in April. Canada shed more than 50,000 part-time jobs in July.

Workers at a McDonald’s prepare meals at a restaurant in April. Canada shed more than 50,000 part-time jobs in July.

Canada’s economy shed more than 30,000 jobs in July and the unemployment rate ticked up to 7.3 per cent as employers cut back on part-time workers, according to figures released today.

The last time Canada posted a monthly job loss was November 2011, Statistics Canada said Friday.

Economists were expecting a slight gain of 6,000 jobs and for the jobless rate to hold steady at 7.2 per cent.

“We weren’t surprised that the headline total was down,” BMO economist Doug Porter noted, “but we are surprised by the details.”

The economy actually added more than 21,300 full-time positions during the month. But that was more than offset by a loss of 51,600 part-time jobs.

Were it not for a surprising 11,700 new jobs in the education sector, the headline figure could have been much lower. (The education sector typically contracts during the summer as schools shut down.)

“The news might not get any better next month,” Porter said. “Education jobs actually rose again, and may get hit hard next time.”

Aside from education, Porter noted, most sectors posted large contractions, including:

  • Retail jobs, down by 30,000.
  • Manufacturing, down by 18,600 jobs.
  • Natural resources, down by 9,000 jobs.

Regionally, employment declined in Quebec, British Columbia, Manitoba as well as in Newfoundland and Labrador, while it increased in Prince Edward Island. There was little change in the other provinces.

Canada lost 30,400 jobs in July

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