This most recent jobs report indicates greater job losses and a higher unemployment rate. We anticipate both trends will continue into 2009 with a challenging first quarter ahead for the labor market. read on
The Obama bailout.
As President Obama takes office, there’s been lots of discourse around his proposed $300 billion bailout which is meant to help create jobs, increase consumer confidence and get spending back on track. While agreeing on the specific tactics may be a challenge for Congress, consensus is building around the need for government relief. our analysis
Retail holiday sales confirms consumer confidence is low.
According to the National Retail Federation, holiday sales dropped 2.8 percent in 2008, far below the forecasted increase of 2.2 percent. Citing reasons such as the current recession, severe holiday weather and five fewer shopping days this holiday season, this is the first time the National Retail Federation recorded a year-over-year decrease in sales since its creation in 1995. our analysis
Gas prices: driving good news for consumers.
Gas prices certainly yo-yoed throughout 2008, but, despite an onslaught of negative economic news, the price of oil is certainly the silver lining right now for consumers. After hitting a peak of over $147 a barrel in July, the most recent government weekly supply report puts oil prices at $36 a barrel – a stark contrast and welcomed relief to drivers across the country. our analysis
“Key to any Obama strategy, both short- and long-term, will have to be a focus on education – areas like finance, information technology and medical skills. Such high-skilled jobs offer a bright spot in the current labor market. The unemployment rate for college-educated workers is 3.9 percent, compared to 10.9 percent among those who never finished high school.”
– Tig Gilliam, CEO, Adecco Group North America Reuters, 01/09/09