November 06, 2009

Jobless rate tops 10 percent for first time since 1983  11/06/09 8:38 AM

Jobless rate tops 10 percent for first time since 1983

The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can’t find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.

Craigslist warns of job scams  11/06/09 12:01 AM

Job-seekers beware: There’s a new warning on Craigslist.com. The Web site recently posted a scam alert, telling applicants to be on the lookout for bogus ads that promise work that doesn’t exist. “The ones that sound too good to be true, they usually are,“ said Kevin Jackson, chief investigator for Florida’s Hillsborough County Consumer Protection Agency.


November 01, 2009

Franklin ponders future without International Paper  11/01/09 12:01 AM

Franklin ponders future without International Paper

More than any other of the industrial cities and towns that dot Southside Virginia, Franklin is a company town. Just about everyone and everything in and around the city has a vital connection to the paper mill on the Blackwater River.


October 30, 2009

Data suggest U.S. recession is over  10/30/09 12:01 AM

The nation’s bouncing economic data shot up yesterday, leading politicians, economists and Wall Street to declare the recession over, though roughly one in 10 working Americans still is out of a job. The latest indicator: The U.S. economy grew at an annual rate of 3.5 percent in July, August and September, according to the government’s first estimate of gross domestic product, the sum total of goods and services produced in the country.


October 29, 2009

Economic recovery will be tough, too  10/29/09 12:01 AM

The recession may be over, but the recovery is just beginning—and it’s doesn’t promise to be much easier. While the Commerce Department won’t its release gross domestic product data until this morning, economists forecast that the nation’s total output grew at an annual rate of 3.3 percent between July and September after contracting for a record four straight quarters.

Richmond unemployment rose to 7.7 percent in September  10/29/09 12:01 AM

They boost the jobless rate when schools’ summer vacations start, and again a few weeks after their college terms start. Returning college students looking for work for a few extra bucks boosted the local unemployment rate slightly last month. But some, evidently, may have found work. The Virginia Employment Commission yesterday reported that the number of people working in metropolitan Richmond rose by 1,300 to 607,900—even as the number of people looking for work, the official definition of the unemployed, also rose. That number was up by 260, to 49,760.


October 20, 2009

Higher jobless rate could be new normal  10/20/09 12:01 AM

Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years. That could mean a “new normal” of higher joblessness and lower standards of living for many Americans, some economists suggest. The words “it’s different this time” are always suspect. But economists and policymakers say the job-creating dynamics of previous recoveries can’t be counted on now.


October 16, 2009

95,500 more in Va. lose jobs, health insurance in 2009  10/16/09 12:01 AM

About 95,500 more Virginians have lost both their jobs and their health insurance this year, according to Families USA, a nonprofit organization pushing for universal health coverage. “That’s why health-care reform is so important,“ Ron Pollack, executive director of the Washington-based group, said during a telephone briefing with reporters yesterday.


October 02, 2009

Educational Credit Management to close Chesterfield office  10/02/09 12:01 AM

Educational Credit Management Corp. plans to close its office in Chesterfield County and lay off all 60 employees, the nonprofit agency said yesterday. They will lose their jobs Dec. 1. Educational Credit Management has been insuring loans under the Federal Family Education Loan Program, as well as servicing other guarantors’ loans when a borrower files for bankruptcy, but the federal government now is taking over insuring student loans, spokeswoman Marianna O’Brien said.


October 01, 2009

Richmond area’s jobless rate falls slightly  10/01/09 12:01 AM

Big losses in what’s usually the Richmond economy’s most stable sector—government—hit the area’s job market hard in August, Virginia Employment Commission figures show. More than half of August’s month-to-month drop in employment came in government, accounting for 1,800 of 3,100 lost jobs. However, college students’ return to classes took enough people out of the work force to bring the Richmond metropolitan area’s unemployment rate down.


September 30, 2009

Virginia must borrow to make jobless payments  09/30/09 12:01 AM

Virginia must borrow to make jobless payments

Virginia will need to borrow as much as $1.27 billion from the federal government over the next three years to keep making unemployment compensation payments.


September 25, 2009

New jobless claims drop unexpectedly  09/25/09 12:01 AM

The number of newly laid-off workers seeking unemployment benefits fell for the third straight week, evidence that layoffs are continuing to ease in the earliest stages of an economic recovery. The Labor Department said yesterday that initial claims for unemployment insurance dropped to a seasonally adjusted 530,000 from an upwardly revised 551,000 the previous week. Wall Street economists expected claims to rise by 5,000, according to a survey by Thomson Reuters.


September 18, 2009

Housing and jobless data signal a fragile recovery  09/18/09 12:01 AM

Adding to evidence that the recession has ended, housing construction rose in August and fewer laid-off workers sought jobless aid last week. Still, the reports suggest a slow and fragile economic recovery. The rise in housing starts was solely because of a jump in the volatile apartment-building category, and unemployment claims remain far above levels associated with a healthy economy.


September 06, 2009

Advice for career switchers  09/06/09 12:01 AM

People consider switching their careers for many reasons. The Center for Career Management at the University of Richmond School of Continuing Studies recommends consulting a career coach to develop a career plan for life. Such career evaluations can help people:
  Discover work values, interests, skills and competencies.
  Identify alternative career options that capitalize on their experience, knowledge, skills and abilities.


September 05, 2009

Rate of job losses slows down  09/05/09 12:01 AM

At least it’s not all bad anymore. The nation’s unemployment rate climbed last month to 9.7 percent—the highest in nearly a generation—but the number of job losses was less than expected and the smallest monthly total in a year. “It’s good to see the rate of job losses slow down,“ said Nigel Gault, chief U.S. economist at IHS Global Insight. But with unemployment rising, “there isn’t the underlying fuel there for strong consumer spending growth,“ which is vital for a strong recovery.

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