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Handling Hard Times ~ Understanding and coping with the economic slowdown.

Planned pay increases at 25-year low

February 9th, 2010, 11:00 am by Mary Ann Milbourn

U.S. companies have ratcheted down their budgets for salary increases this year with the median planned pay hikes now at 2.8%, reports The Conference Board.

It will be the first time in 20 years that pay increases will be below 3%, the Board said. With the brokeBoard expecting inflation to come in at 2.6%, that means workers will barely keep pace with rising costs this year.

Last April, the 285 employers surveyed by the Board expected to be raising pay 3% in 2010. When they were re-surveyed in November, 27.7% said they had revised their salary budgets down.  The median budget increase for salaries at those firms now is 2.5%.

“Despite five months of improvement in The Conference Board Employment Trends Index (ETI)™ suggesting that a turning point in job growth is on the horizon, recovery in compensation is probably a few years away,” says Gad Levanon, associate director of macroeconomic research at The Conference Board.

“In the previous three recessions, compensation began accelerating only several years after employment bottomed. High levels of unemployment allow businesses to limit raise demands from existing workers and hire workers from unemployment at lower compensation levels.”

Other findings in the report:

  • Highest industry for median salary increases:  consulting services at 3% for non-exempt hourly workers
  • Lowest industry for median salary increases: banking at 2%
  • Median merit pay increase: 2.5%

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Temp work pointing to a recovery?

February 9th, 2010, 1:00 am by Mary Ann Milbourn

Jobs overall may be not be doing much, but the temporary employment industry is on a roll.

The U.S. Bureau of Labor Statistics reported there were 52,000 new temp jobs created by U.S. employers in January.  That's the fourth straight month of growth, although well down from the 95,000 new jobs reported in November.  Still, there were 250,000 more temp workers on U.S. payrolls in January than in September.

"ASA members are reporting increases in demand for temporary and contract employees across virtually all sectors throughout the country," says Richard Wahlquist, chief executive of the American Staffing Association. “Because staffing is a leading employment indicator, the continued uptick in temporary employment bodes well for overall job growth.”

A general rule of thumb is that temp jobs, if they are not simply seasonal, become permanent after about six months.  If that holds true, by April or May there should be a bump up in people moving into permanent positions. (Click on chart to enlarge.)

jan-temp-help

The BLS numbers are adjusted for seasonal variations.  The ASA noted that January is typically a bad month for temp employment compared to December. The BLS's non-seasonally adjusted figure for U.S. temp work was down 7.2%  from December to January or 143,700 jobs.  By ASA's count,  temp work in the U.S. fell 6.0%  without the seasonal adjustment.

January employment numbers for Orange County won't be released until March 5.  However, temp employment rose 300, to 51,000, in the last three months of 2009.   That was still 400 below December 2008.

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Posted in: Economy • • • • | 31 Comments »

Double-digit unemployment through 2012?

February 8th, 2010, 1:00 am by Mary Ann Milbourn

California's annual unemployment rate could top out at 12.1% this year, but may stay in the double digits through 2012, according to estimates by the state Legislative Analyst's Office and the Department of Finance.

The LAO projects the unemployment rate out to 2015.  It estimated unemployment will be slow to drop and remain at an average 6.9% in 2015.

As an indication of how bad things are in this recovery, the California Budget Project notes that in the 2002-03 recession, the unemployment rate peaked at 6.8%. Here's the chart, courtesy of the California Budget Project. (Click to enlarge.)

projected-california-unemployment

Read the California Budget Projects analysis of the state's financial situation and how it could affect the poor and unemployed HERE.

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Unemployed? Tax relief may be on the way

February 7th, 2010, 8:00 am by Mary Ann Milbourn

Workers who lost their jobs last year or whose income got seriously downsized may be able to reduce their taxes or even boost their refunds under a federal program for the low-income.

taxes1Called the earned income tax credit, it is aimed at workers who don't make a lot of money to help offset the Social Security taxes they pay and to encourage them to stay on the job. You may be eligible if you earned less than $48,279 last year.

Orange County's relatively high incomes have disqualified a lot of people in the past, but as the recession took hold in the last two years, more people are finding themselves eligible.

Last year 159,000 Orange County residents claimed $304 million in earned income tax credits on their 2008 tax returns, said IRS spokesman Raphael Tulino.

The tax credit is based on income and family size.  Here are the maximum incomes for 2009:

  • $43,279 ($48,279 married filing jointly) with three or more qualifying children
  • $40,295 ($45,295 married filing jointly) with two qualifying children
  • $35,463 ($40,463 married filing jointly) with one qualifying child
  • $13,440 ($18,440 married filing jointly) with no qualifying children

The maximum tax credit for 2009 is:

  • $5,657 with three or more qualifying children
  • $5,028 with two qualifying children
  • $3,043 with one qualifying child
  • $457 with no qualifying children

If you lost your job in 2008 and your income plunged, you can file an amended 2008 return and also claim the earned income tax credit.  For more on the program, go to the IRS Web site HERE.

Sound too complicated and need some help?  There are several local programs for free tax help for the low-income and elderly:

  • IRS Volunteer Income Tax Assistance (VITA): Call 800-829-1040 to find a location.
  • United Way Orange County.  Go the Web site for a list of locations and phone numbers.
  • Legal Aid Society of Orange County: Call 714-571-5259 for an appointment.
  • AARP Tax Counseling for the Elderly: 888-227-7669 or the AARP Web site.

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$144 for a Super Bowl bash?

February 6th, 2010, 1:00 am by Mary Ann Milbourn

super-bowl-dipWow! The cost of beer, chips and dip apparently is on the rise with the average consumer planning to spend $144 on food, beverages and other items for their Super Bowl party this year, according to a poll by Visa.

And guys are the big spenders averaging $158 for their parties while the women only will fork out $129.

The 18- to 34-year-olds will average $154 and the 35- to 54-year olds, $144.  Those 55+ will manage on $117.

So tell us ...

How much will you spend on your Super Bowl party?
View Results

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Posted in: Economy • • | 6 Comments »

Calendar of job events, Feb. 7-14

February 5th, 2010, 2:00 pm by Peggy Lowe

Sunday, Feb. 7

Attitudes of Service Lab -- A free workshop by Dale Carnegie of Orange County will focus on applying an “attitude of service” by going the extra mile and being an advocate for others.  Attendees will learn how to apply behaviors of helpfulness, genuine interest, and respect for others, towards a successful career transition.

When: 1-4 p.m.

Where: 1805 East Dyer Road, Suite #109, Santa Ana

Contact: RSVP (required) at (949) 474-1843


Monday, Feb. 8

Job Search Workshop -- Self help and support group for job searchers facilitated by executives sharing knowledge and experience with professional outplacement services. Resumes, creating an employment seeking plan, resources, references and support. Dr. Steven Harris, licensed practicing psychologist is available Friday afternoons by appointment to assist with interview techniques and personal confidence.

When: 10 a.m. - 12 p.m.

Where: St. Paul's Episcopal Church, Tustin

Contact: Event website


Tuesday, Feb. 9

Recruitment -- The U.S. Census Bureau is recruiting for the following positions: lister, crew leader, crew leader assistant, recruiting assistant, and office clerk. Bilingual candidates are encouraged to apply, English proficiency is required. Pre-registration is required.

When: 1:30 p.m. – 3:30 p.m.

Where: Orange County One-Stop Center, 5405 Garden Grove Blvd., Suite 100,  Westminster

Contact: Call 1-866-861-2010 to register. Applicants must be registered on CalJOBSSM and bring authorization to work documents (Social Security card and photo identification).

..............................

Employment Networking Night -- Are you looking for a job, a better career or in need of good employees ? The Employment Networking Night is open for all those looking for employment or a better opportunity and for those with a desire to help. Sponsored by The Orange County Chapter of the BYU Management Society and LDS Employment Resource Services.

When: 7-8:30 p.m.

Where: The Church of Jesus Christ of Latter Day Saints, 23 Lake Rd., Irvine.

Contact: Event's website.


Wednesday, Feb. 10

Computers Basic Workshop -- This workshop will assist job seekers develop computer skills.

When: 8:30 a.m. – 11:30 a.m.

Where: Orange County One-Stop Center, 5405 Garden Grove Blvd., Suite 100, Westminster

Contact: Joleen Le  (714) 241-4948

..............................

Overcoming Barriers Workshop -- This workshop will prepare previously incarcerated individuals to re-enter the job market.

When: 2-4 p.m.

Where: Santa Ana W/O/R/K Center, 1000 E., Santa Ana Blvd., Suite 220
Westminster

Contact: Tejdeep Kochhar (714) 565-2662

..............................

Recareering Bootcamp -- This session, in an ongoing series, will focus on interviewing.

When: 7:30 p.m. to 8:30 p.m.

Where: Mission Viejo Library, Saddleback Room

Contact: Event website


Thursday, Feb. 11

Veterans Networking -- The Veterans Networking Roundtable Job Club provides information on employment opportunities, workshops, and services for veterans. Pre-registration required.

When: 9a.m. - 11 a.m.

Where: Orange County One-Stop Center, 5405 Garden Grove Blvd., Suite 100, Westminster

Contact: Steve DeFord (714) 241-4954


Saturday, Feb. 13

Book signing and resume workshop -- Career strategist Carl Wellenstein who will share secrets about resumes and executive recruiters from his new book, "12 Steps to a New Career."

When: 11 a.m.

Where: Barnes & Noble, Long Beach Towne Center, 7651 Carson Blvd.

Contact: Event website

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855,000 Californians could lose jobless benefits by June

February 5th, 2010, 9:47 am by Mary Ann Milbourn

A new campaign is underway to extend unemployment benefits with one organization now estimating 855,529 Californians will lose their payments by June if action isn't taken.

The National Employment Law Project's estimate includes 311,465 Californians who will exhaust their initial 26 weeks of state unemployment without any extensions and 544,064 who will be cut off from federal benefits if there is no extension.  It does not include the thousands of people who will exhaust their maximum of 99 weeks of unemployment.

EconomyNationwide, NELP projects that nearly 5 million people will exhaust their initial 26 weeks of state benefits or lose their federal benefits prematurely without an extension of the program. (See the state-by-state breakdown HERE.)

Just before Christmas, Congress approved a stop-gap measure that continued several unemployment extensions and other benefits until the end of February.

Legislators are now working on a jobs bill that will include an as-yet undetermined extension of the current benefits. NELP says a Senate proposal would extend eligibility for the current benefits through May. The current extra $25-a-week in unemployment benefits and the 65% government subsidy for COBRA health insurance premiums also are expected to be included.

It is unclear whether Congress will add another extension beyond the current 99-week maximum.

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Irvine hybrid auto company adding staff

February 5th, 2010, 8:27 am by Mary Ann Milbourn

Fisker Automotive, the Irvine auto maker that's getting ready to launch its first hybrid plug-in sports car, is planning a major expansion of its staff, reports Orange County Register automotive blogger Matt Degen.

fisker-auto-show-thumbnailThe company is bringing in about two dozen workers from its Michigan satellite facility on March 1 and will then hire "many times that number," said Fisker spokesman Russell Datz.

He did not give a specific number of new hires or when they would be brought on.

The Irvine headquarters will house Fiskers' design, engineering, sales, marketing and administrative operations.

Fisker plans to begin selling its Karma hybrid plug-in sports car later this year.  The company said the staff expansion is to accelerate development of its next generation of plug-in hybrids, dubbed Project NINA.

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U.S. loses 20,000 jobs in January

February 5th, 2010, 7:00 am by Mary Ann Milbourn

U.S. employers cut 20,000 jobs in January, a major improvement over the revised 150,000 job losses in December and a sign that the worst of the layoffs may be over, U.S. Labor Department officials reported today.

Meanwhile, the U.S. unemployment rate fell to 9.7% in January from a revised 10% in December because 541,000 more people were employed last month.  If you include people who are working part-time but want to work full-time and those who want jobs but gave up looking, the unemployment rate was 16.5%.

jan-10-unemployment

The report included annual adjustments to earlier estimates that showed the recession has hit workers even worse than originally reported.  The revision shows 8.4 million people have lost their jobs since the recession officially began in December of 2007, up from the 7.2 million previously reported.

January has always been a difficult month to estimate employment changes because so many holiday workers get laid off. Experts this year had estimated there would be anywhere from 50,000 job losses in January to a gain of 50,000.

On Wednesday, ADP, the automated payroll company, estimated that private employers cut 22,000 jobs in January. Chapman University economist Esmael Adibi expected a job loss of 30,000 and an unemployment rate of 10.1%

January unemployment numbers for Orange County and California will not be released until March 5.

Read a full analysis of the January jobs numbers in the Associated Press story HERE.

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Posted in: Economy • • • | 24 Comments »

Lockheed Martin closing Irvine plant

February 4th, 2010, 2:56 pm by Mary Ann Milbourn

(Correction:  Lockheed Martin is closing the Irvine plant because the current contract awarded in mid-2006 is the U.S Navy's final purchase of the company’s Trident valve assemblies.  In addition, the workers were officially notified of the plant closure in October.  EDD was brought in in December to explain unemployment procedures and the assistance available from the state.)

Lockheed Martin's Undersea Systems division is closing a ballistic missile valve plant in Irvine this year and will lay off 42 workers, a company spokesman confirmed today.

lockheed-martin-hot-gas-control-valveThe company decided to close the plant because the U.S. Navy had made its final purchase of the missile valves under a contract awarded in mid-2006, said Jack Papp, a Lockheed Martin spokesman at the company's Undersea Systems headquarters in Manassas, Va.

Workers in Irvine make hot gas valves (pictured left) for the Trident D5 missile. The valves are used in the post-boost control system. The missiles are launched by submarines.

The plant has been in Irvine since 1995 after operations were moved from Newport Beach.  Papp said the facility will close by the end of the year.

Workers were officially notified of the layoffs in October.  The first of the 42 were laid off last month. Papp said the company brought in state Employment Development Department officials in December to tell the workers about unemployment procedures and state assistance available.

See the Orange County Register's 2010 layoff list HERE.
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