The dismal jobs front got a bit more good news, following the release of a report showing the nation's employers last year cut the fewest number of workers in more than a decade. Further, the findings showed 2010 ended on a high note, with December recording the lowest number of monthly cuts since 2000.

The slowdown in cuts follows an uptick in activity in 2009 when downsizing reached a seven-year high, according to the 2010 year-end job-cut report, released Wednesday by job-services firm Challenger, Gray & Christmas. Last year, employers announced plans to eliminate 529,973 positions, the lowest number since 1997.

Continue reading Job Cuts in 2010 Tumble to Lowest Level in More Than a Decade

Job Cuts in 2010 Tumble to Lowest Level in More Than a Decade originally appeared on BloggingStocks on Wed, 05 Jan 2011 09:00:00 EST. Please see our terms for use of feeds.

The Center for Economic and Policy Research and the Center for Social Policy at the University of Massachusetts have released the results of their study on the 10 worst jobs in America, and how many people have them. According to their report (PDF file: May take a while to load), "We call a job that pays less than $17 per hour, and has no paid, employer-provided health insurance, and has no employer-sponsored pension plan, a 'bad' job."

I would argue that it's entirely possible that someone can have a good job paying $17 per hour with poor benefits --most high school students would be thrilled to make $17 an hour at their summer jobs. But in any case, 87% of restaurant host and counter-attendant jobs met the "bad job" criteria. Other leading bad jobs were ushers, pattern-makers, lifeguards, models and dishwashers -- no real surprises here.

But the report does contain some interesting commentary. Men are more likely to have bad jobs now, while women are more likely to have good jobs: "The share of men in good jobs fell sharply between 1985 (34.3%) and 1995 (29.9%) and, again, through 2006 (27.2%). Meanwhile, for women, the good jobs share rose across comparable points in the three cycles: from 13.5% in 1985, to 16.6% in 1995, to 18.7% in 2006."

Reflecting on earlier research, the authors express their concern that increasing GDP and educational attainment are not leading to improved wages and benefits.

To learn more about the tough reality facing job-seekers today, check out Anya Kamenetz's Generation Debt.

America's 10 worst jobs -- Do you have one of them? originally appeared on BloggingStocks on Sun, 11 Nov 2007 10:40:00 EST. Please see our terms for use of feeds.

New lawyers face a tough job market originally appeared on BloggingStocks on Mon, 24 Sep 2007 19:30:00 EST. Please see our terms for use of feeds.

A piece in the New York Times discusses an exciting trend among youthful job seekers. According to the director of the Arlington Employment Center, "I think the desire for summer jobs has changed a little bit; kids are looking not only for income, but what makes them look good for the next step in their life." Rather than settling for jobs as grocery store clerks or landscapers, students want internships or at least internship-like jobs -- summer experiences that may lead them toward a long-term career.

Youth unemployment, however, is on the rise at three times the national average, and the upcoming increase in the minimum wage could do little to help. But kids who seek jobs that they can bring enthusiasm and perhaps knowledge to should be able to distinguish themselves from the pack.

A few weeks ago, I gave readers my list of tips for summer-job seeking teens. If you are a teen and haven't started the summer job search yet, you need to get on that. Here are some sites that can help:

• About.com: TeenJobs
• SummerJobs.com
• Teens4Hire.org
• SnagaJob.com

Good luck with your summer job hunt. And remember, it's about more than money: Find something that will give you valuable life experience.

Teens don't wanna work ... they just wanna bang on their drums all day! originally appeared on BloggingStocks on Mon, 11 Jun 2007 19:35:00 EST. Please see our terms for use of feeds.

If you're a recent business school grad, your best bet at making a killing in the investment banking field might be to head on over to Russia. Before you dismiss me with a quick nyet!, take a look at this recent piece from Bloomberg. Firms are sending top investment bankers to work in Russia, often for more than two times what they'd earn doing similar work in the United States. Russia's rapid economic growth (Jim Cramer lists it as one of the BRIC countries for emerging growth: Brazil, Russia, India, and China) and spiking energy prices are creating a need for financial talent in the area.

Granted, the $7-10 million pay package for a managing director doesn't include the cost of Berlitz courses. Could soaring pay packages be a sign of a bubble in Russia (perhaps a global bubble?), similar to soaring analyst and fund manager compensation at the top of the internet stock bubble?

I don't necessarily think so. In order to grow and become a strong economic force, Russia needs to attract experienced, talented bankers. And let's face it: Most people wouldn't leave their offices in London or New York to go to Russia without a strong financial incentive.

The really rich rich investment bankers are Russian? originally appeared on BloggingStocks on Tue, 15 May 2007 18:00:00 EST. Please see our terms for use of feeds.

In his latest Ask Matt column for the USA Today, Matt Krantz, perhaps without even meaning to, gives a young reader a quick lesson in how Wall Street really works. The question: I'm a high school student who is interested in being a stockbroker. What math skills do I need?

This is my response, not Matt's, to that same question: Being a stock broker is not about math! It's about sales! It's about managing to convince your clients (i.e. customers) that they should pay your for advice and trading when they would be far better off sticking their money in index funds and leaving it alone.

Mr. Krantz lets the young man down more gently: "The biggest part of the job is learning how to make connections with people - your prospective clients - learning about their financial goals and selling products that suit them. Most clients don't care if you can calculate the square root of 103.3 in your head. What they care about is whether they like you and believe that you're giving them good advice."

Exactly! It isn't about actually giving them good advice -- good advice would very likely consist of advising clients to fire their broker and do it on their own. Of course, if you're a broker you can't do that.

My advice to the high school student: If you want to be a broker, learn about sales. It's no different than selling used cars. Except most people know not to trust car salesmen.

What does it take to be a stockbroker? originally appeared on BloggingStocks on Tue, 01 May 2007 17:06:00 EST. Please see our terms for use of feeds.