Free newsletters - Wealth Advisor, Breaking News and More
Earn Free CE Credits
Free Seminars and Podcasts from Industry Experts
Access our Discussion Boards
BlogsThe Smart Advisor
The Jobs Picture Improves Ever So Slightly
By Frances A. McMorris
May 6, 2011
¦
Advertisement
I hate mixed messages but it seems there is finally some good news on the employment front. According to the Department of Labor this morning, non-farm payroll employment added 244,000 jobs in April, with the private sector seeing job growth of 268,000.
While that figure exceeded expectations, the unemployment rate rose to 9%. Some experts explained that increase to the people who weren’t looking for jobs now resuming their job-hunt.
In response to those numbers, Secretary of Labor Hilda L. Solis, said, “Our nation’s labor market registered encouraging job growth in the month of April.” She added: “April's broad-based job gains were the largest we have seen in 11 months. Our economy has now seen private sector job gains for 14 months running. During this period, we have added 2.1 million private sector jobs, including 760,000 in the last three months alone. We have crossed an important threshold by creating more than enough jobs in each of the last three months to outpace growth in the labor force and put unemployed Americans back to work.”
Solis and others believe the recovery is on track.
Consider this from Austan Goolsbee, chairman of the President’s The Council of Economic Advisers:
“Despite headwinds from high energy prices and disruptions from the disaster in Japan, the last three months of private job gains have been the strongest in five years.”
However, for those who are out of work, this level of recovery just isn’t enough.
As Heather Boushey, senior economist at the Center for American Progress, a non-partisan, Washington, D.C.-based research organization said: “While today’s job growth is an improvement, there is a large backlog of workers waiting in the unemployment queue as well as millions who have given up searching, but still want to work. We need to see job growth break above 300,000 and stay at that level for many months before the unemployment rate will begin to come back down.”
0 Comments
Be the first to comment on this post using the section below.
Add Your Comments...
Already Registered?
If you have already registered to IAG Blogs, please use the form below to login. When completed you will immeditely be directed to post a comment.
Growth -- the kind measured in revenue and profits -- is the ultimate goal for the entire brokerage industry. As On Wall Street editor-in-chief Frances McMorris points out, figuring out how to achieve these goals while dealing with constant change is what firms like Raymond James and its competitors are now learning to do on the fly.
While there may be investing opportunities in the markets, the weak housing market and unemployment hovering just above 9% are the issues that concern the nation and that are depressing the president’s poll numbers. And, voters -- including those without jobs and those who want to look for better ones --are getting mighty impatient.
While there may be investing opportunities in the markets, the weak housing market and unemployment hovering just above 9% are the issues that concern the nation and that are depressing the president’s poll numbers. And, voters -- including those without jobs and those who want to look for better ones --are getting mighty impatient.
Advisors should be building on their strengths, their interests and, of course, their talents. The best and the brightest advisors have one thing in common: Each one has found his or her specialty or strength and constructed a platform for success.
Just when the advisory community was hoping that it had put Bernie Madoff behind it, federal authorities announced that two of the disgraced financier’s lieutenants have been indicted on criminal charges and are also facing a civil complaint from the Securities and Exchange Commission.
Meanwhile, the Internal Revenue Service announced earlier this week that it has withdrawn the John Doe summons in the UBS AG scandal in which the U.S. demanded that the company hand over…
Just when branch managers thought their jobs couldn’t get any more complicated, Mary Schapiro says that her agency is looking at regulating broker pay.
If a client’s spouse has been diagnosed with cancer, how does everything change? How do you talk to the client, the spouse and perhaps other family members?
The president of Raymond James & Associates and the chairman of RJFS talks about recruiting, retention and valuing the control advisors have over their books of business.
There is a 20-year age difference between Shelly Church and Ilona Sawin, yet they have found enough common ground to form their own financial advisory team at Raymond James & Associates.
At a gala fundraiser, Wall Street shows that money isn’t its only concern but that it can show generosity and patriotism in helping the children of fallen soldiers and wounded warriors.
If money is the root of all evil, then Wall Street certainly provides the tree and branches—at least that appears to be the perspective of filmmaker Charles Ferguson.
Frances McMorris was named editor-in-chief of ON WALL STREET in February 2008, after serving as executive editor since December 2004. She also created and serves as the host of AdvisorTV, an online video interview show appearing at onwallstreet.com.
From indictments to verdicts and appeals, Ms. McMorris has covered many major, high-profile cases in both federal and state courts as a legal affairs reporter for The Wall Street Journal, The New York Daily News, Newsday and The New York Law Journal. The cases that she has covered include: the seditious conspiracy trial of Sheik Oman Abdel Rahman, the blind Egyptian cleric convicted of being the spiritual mastermind of the 1993 World Trade Center; the constitutional battle over the “Don’t Ask, Don’t Tell” military policy; the Crown Heights riot murder trial; federal racketeering cases against violent gangs; the Long Island pet cemetery trial and several securities fraud and insider trading cases, among others.
The legal issues she has written about are diverse and numerous, ranging from economic espionage to employment discrimination rulings and the first story to report that there is no expectation of privacy for employee emails written in the workplace.
Ms. McMorris is a 1993 graduate of Fordham University School of Law and admitted to the New York and New Jersey bars. She has appeared on the former CNNfn to give expert commentary on trials.
She also served as president of the Newswomen’s Club of New York for three years while working as an assistant managing editor at The Daily Deal in New York.
ON WALL STREET magazine has a circulation of more than 90,000—reaching financial advisors and brokers at the most prestigious brokerage firms who serve high-net-worth and ultra-high-net-worth investors.
FEED
Frances McMorris was named editor-in-chief of ON WALL STREET in February 2008, after serving as executive editor since December 2004. She also created and serves as the host of AdvisorTV, an online video interview show appearing at onwallstreet.com. 
0 Comments
Be the first to comment on this post using the section below.
Add Your Comments...