US employers added 215000 in July likely moving Fed closer to raising

Filed under: xweixnsa — Tags: , , , , , , , , — admin @ 6:10 am October 3, 2019

US employers added 215,000 in July, likely moving Fed closer to raising rates in September by Josh Boak, The Associated Press Posted Aug 7, 2015 6:47 am MDT Last Updated Aug 7, 2015 at 8:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – U.S. employers added a solid 215,000 jobs in July, signalling a steadily rising job market and likely nudging the Federal Reserve closer to raising interest rates in September.The Labor Department also said Friday that the unemployment rate held at a relatively low 5.3 per cent for a second straight month.Monthly job growth has averaged 211,286 so far this year, indicating that employers are confident that the six-year recovery from the Great Recession will sustain strong consumer demand and require more workers.July’s job growth roughly matched expectations, and the early reaction on Wall Street before trading opened was muted. The Standard & Poor’s 500 stock index slipped 0.2 per cent in morning trading, and U.S. government bond yields fell slightly after an initial spike.“Another solid jobs report suggests the economy is gaining strength and keeps the Fed on track to raise rates as early as the next meeting” in September, Sal Guatieri, senior economist at BMO Capital Markets, said in a research note.Hiring has remained robust even though the economy’s overall growth rate has been subpar and pay raises have been modest for many workers. Average hourly earnings in July increased just 2.1 per cent from a year earlier.The Fed has held its key short-term rate near zero since late 2008, a policy introduced after the financial crisis to try to energize the economy through stronger borrowing, investing and spending. Now, more than a half-dozen years into the recovery, Fed Chair Janet Yellen has suggested that the economy not only can tolerate but needs higher rates.Even as the Fed has nearly concluded that the economy is strong enough to withstand higher borrowing rates, many Americans remain anxious about a recovery defined by modest economic growth and meagre pay raises.The misgivings about the economy were on display Thursday night at the first Republican presidential debate, where 10 candidates in Cleveland discussed the challenges of an unwieldy tax code and the pressures on American workers resulting from immigration and global trade.The economy grew at an anemic 1.5 per cent annual rate in the first half of 2015 — nearly half a percentage point weaker than the average of the past three years.Companies are laying off fewer and fewer workers: The monthly average of people seeking unemployment benefits remains nears a 15-year low, the government said Thursday. But average hourly wage growth of 2.1 over the past year has barely exceeded low inflation.The pace of hiring has managed to help revive housing and auto sales, according to industry reports. Still, the absence of significant pay raises has limited the consumer spending that accounts for a majority of economic activity.Still, the jobs report indicated that companies are anticipating higher consumer spending. Retailers added 35,900 workers last month and restaurants 29,300.Rising home sales helped boost construction jobs by 6,000. Manufacturers added 15,000 employees, with food, plastics and rubber factories accounting for most of the increase.Job security also appears to be improving. The business services sector — which embraces everything from lawyers to accountants to engineers — added 40,000 workers, even though the number of temporary employees on short-term contracts fell 8,900.Lower gasoline and oil prices have yet to provide the kind of boost they have in the past. Energy companies responded to oil of less than $50 a barrel by cutting orders for equipment and pipelines, causing many manufacturers to slow their hiring. And instead of spending their savings at the gasoline pump, consumers have mostly pocketed the additional cash.A strong dollar has also weighed on economic growth. The dollar has risen about 14 per cent in value against overseas currencies in the past year, thereby cutting into exports by making U.S. goods costlier overseas.Falling unemployment usually reduces the number of people available to hire, which then forces employers to boost wages. But many frustrated job seekers have stopped looking for work, perhaps only temporarily. This has made it hard to assess just how healthy the job market is and when pay might rise at a faster rate.Roughly 8.3 million Americans are still looking for jobs. An additional 14.4 million people have left the job market — either abandoning their job searches or choosing to retire — since the recession officially began in late 2007. The result is that the share of adults working has fallen to 59.3 per cent from 62.7 per cent eight years ago.One challenge is that workers have become less productive for each hour worked. This limits the willingness and ability of many companies to raise pay significantly, which can then prevent people sidelined by the recession from returning to the job market.Productivity fell at a 3.1 per cent annual rate in the first three months of 2015. read more

Teaching assistant stole primary schools charity money to pay off sons drug

Filed under: mzclfnje — Tags: , , , , , , , , , — admin @ 8:05 am September 25, 2019

first_imgHannigan told the hearing: “I heard a banging on the back and front doors I went to the back door and there was a man standing there who wanted to see my son because he owed him some money – money he owed them for drugs.”I shut the door on them but they banged again – they just wanted to get at my son who was in the house with me and we were both very frightened.”They were very threatening, saying that we ‘could disappear’ or the house could burn down.”She said they demanded £1,000 for her 31-year-old son drug debts but they were satisfied with a down payment of £300.The Education Workforce Council hearing was told Mrs Hannigan was a “frequent collector” for the charity because her daughter had been treated for a serious heart problem.She told the panel: “I’m sorry this has happened I’m very remorseful.”I knew my son was in with a bad lot.”Hannigan admitted taking the money and using it to pay the dealers and had admitted unacceptable professional conduct.The disciplinary panel on Wednesday handed Hannigan a reprimand, allowing her to immediately return to the classroom.Panel chair Jacquie Turnbull said although Hannigan had acted dishonestly, her actions were not premeditated and she had since shown “genuine remorse.” “But later that night she did and acted deliberately. It was spontaneous and not something that had been planned.”It’s not the case this was part of a grander scheme to repay her son’s drug debt.”There can be no doubt that she was under extreme duress. It’s a highly unusual incident.” She told a disciplinary panel she handed two drug dealers £300 in cash – including the £287 raised by pupils at her school for the British Heart Foundation – when they arrived at her home.The Education Workforce Council heard Hannigan – who had worked in Glanhowy Primary School in Tredegar, Gwent for 23 years – was investigated over the theft in February 2015.She was interviewed by police and taken to court where she was handed a conditional discharge.Presenting Officer Cadi Dewi said: “This was a lengthy and sustained deception which was only admitted to her employers when she was confronted by colleagues.”She only notified her current school about proceedings a week before this hearing.”She’s confirmed she only notified the school because she realised it was inevitable they would find out anyway.”David Harris, representing Hannigan, said she had been put under “extreme duress” and denied she’d deliberately stolen the money to pay off the drug dealers.Mr Harris said: “There was no intention that when she went home that night she had an intention to dispose of the money dishonestly. They were very threatening, saying that we ‘could disappear’ or the house could burn down.Caroline Hannigan Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings.center_img Miss Turnbull said: “We’re satisfied she intended to repay the money and gave credible evidence as to why she hadn’t already done so.”We’re satisfied there’s no significant risk of her repeating her actions.” A primary school teaching assistant who stole money intended for charity to pay off her son’s drug dealer will be able to continue her career.Experienced teaching assistant Caroline Hannigan, 56, admitted taking £287 raised for the British Heart Foundation and giving it to dealers.She could have been struck from the teaching register for the offence – but a disciplinary panel has decided that she will be allowed to to return to the classroom.Hannigan said she handed over the cash after dealers threatened to make her “disappear” over her son’s drug debts. I’m sorry this has happened I’m very remorseful. I knew my son was in with a bad lot.Caroline Hanniganlast_img read more