This month’s deceleration in job losses was a welcomed turn in the right direction.
We anticipate this level of
job losses to continue throughout the second quarter, however we are hopeful that the total number of job losses will decline to the 100-200,000 range by the end of the third quarter. read on
The news
Changing U.S. car companies.
On June 1, General Motors became the second American car company to file for bankruptcy on the heels of Chrysler’s filing in April. In the details of GM’s filing, the U.S. Treasury will own up to 72% of the new company with the United Automobile Workers Union and other bondholders owning the remainder. our analysis
Pumped up oil prices?
The recent rise in oil prices is reminiscent of the oil price hikes of last summer. Today’s prices remain well below where they were at this time last year, but have risen at a faster pace. At the start of June 2009, the national average was $2.62 per gallon, up from the national average in December of $1.62 a gallon. Continuance of rising prices spark fears that gas and oil prices will slow the economic recovery. our analysis
Supreme Court moves: what does it mean for you?
President Obama nominated Sonia Sotomayor for the U.S. Supreme Court to replace Justice David Souter. Her decisions have a history of being more liberal leaning and extensively detailed. She has been a federal judge for 17 years, most recently on the 2nd Circuit Court of Appeals and Sotomayor would be the first Hispanic and third woman on the court. our analysis
CEO insight
“The trend shows that the job market is beginning to move in a better direction. This month’s statistics do show jobs gained in finance and accounting; education and healthcare; as well as the leisure and hospitality industries. It will continue to take time for the overall labor market to stabilize. As the world’s largest recruitment and workforce solutions provider, we know that temporary staffing is a leading indicator as to how the job market is performing.”
– Tig Gilliam, CEO, Adecco Group North America
CNBC “Squawk on the Street”, 06/05/09
