online.wsj.com — A year ago the U.S. auto-supplier industry was all but left for dead. Companies such as Lear Corp. were filing for bankruptcy, demand for parts was plummeting and investors were abandoning the sector as General Motors Co. and Chrysler Group LLC grappled with Chapter 11 reorganizations.
Now, the U.S.-based automotive suppliers are not only doing better, but they are profitable, their stocks are surging, they are hiring and they're putting the finishing touches on restructurings.
informationweek.com — Despite President Obama's pledge to retain more hi-tech jobs in the U.S., a federal agency run by a hand-picked Obama appointee has launched a $22 million program to train workers, including 3,000 specialists in IT and related functions, in South Asia. Following their training, the tech workers will be placed with outsourcing vendors in the region that provide offshore IT and business services to American companies looking to take advantage of the Asian subcontinent's low labor costs.
washingtonpost.com — President Obama and congressional Democrats -- out of options for another quick shot of stimulus spending to revive the sluggish economy -- are shifting toward a longer-term strategy that promises to tackle persistently high unemployment by engineering a renaissance in American manufacturing.
stateline.org — In 2003, a now-defunct textile company called Pillowtex closed its plant in Kannapolis, North Carolina. Pillowtex was the town’s biggest employer by far, and most of the 4,800 workers who lost their jobs had little education and dim prospects for finding new jobs in manufacturing.
nytimes.com — Ms. Jarrin, 49, wound up at a motel here, putting down $260 she had managed to scrape together from friends and from selling her living room set, enough for a weeklong stay. It was essentially all the money she had left after her unemployment benefits expired in March. Now she is facing a previously unimaginable situation for a woman who, not that long ago, had a corporate job near New York City and was enrolled in a graduate business school, whose sticker is still emblazoned on her back windshield.
wonkroom.thinkprogress.org — Today, the Senate will be taking a procedural vote on a bill providing $26 billion in aid to state and local governments, $10 billion of which is dedicated to preventing teacher layoffs. This particular batch of funding has been included in, and then cut from, multiple bills, as each time conservatives have objected. Originally, $23 billion was to go toward saving teaching jobs, but that has been whittled down over the past few months.
dyn.politico.com — While scrambling to save pre-election jobs assistance, Senate Democrats are quietly conceding that Republicans have already won and big swaths of President Barack Obama’s 2011 budget will be cut when Congress returns after its summer recess.
Senate Majority Leader Harry Reid signaled Monday that he sees the handwriting on the wall and Appropriations Committee Democrats will have to cap spending bills at about $1.108 trillion — or $20 billion below the president’s request.
washingtonpost.com — Labor mobility has nearly ground to a halt in the past two years, and policymakers are increasingly worried that the slowdown is not just a symptom of the nation's economic struggles but also a barrier to overcoming them.
With many people locked in homes by underwater mortgages, only 1.6 percent of Americans moved between states in a one-year period that ended in March 2009 -- a labor stagnation not seen in half a century. Though household mobility has gradually declined for more than two decades, the recent sharp downturn has caused economists to worry that it could harm the already struggling recovery.
blog.aflcio.org — Where does populist anger over the economy go—left or right? It’s a question Working America has focused a great deal on as it relates to both policy and politics, in our discussions of a “working class at the tipping point,” in our daily work and as it relates specifically to this fall’s elections. This morning, a Netroots Nation panel also took up the question. “The 2010 Elections: Power of Jobs, Populusm and Angry Voters,” moderated by Scott Paul, executive director of the Alliance for American Manufacturing featured pollster Mark Mellman, Coffee Party USA founder Annabel Park and Campaign for America’s Future blogger Dave Johnson.
salon.com — Federal checks could begin flowing again as early as next week to millions of jobless people who lost up to seven weeks of unemployment benefits in a congressional standoff.
President Barack Obama on Thursday signed into law a restoration of benefits for people who have been out of work for six months or more. Congress approved the measure earlier in the day. The move ended an interruption that cut off payments averaging about $300 a week to 2 1/2 million people who have been unable to find work in the aftermath of the nation's long and deep recession.
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