Class of 2013 to face tough start in job market

9:30 AM class, market, start, tough No Comments

High school and college graduates are still being hobbled by years of weak economic growth and an extremely tight job market, and that difficult start in the job market could impact the class of 2013 for years to come, a new analysis finds.

“Graduating in a bad economy has long-lasting economic consequences,” said Heidi Shierholz, economist with the Economic Policy Institute, which prepared the report on young workers released Wednesday.

The liberal-leaning think tank looked at high school graduates between ages 17 and 20 who aren’t enrolled in further schooling, as well as college graduates between ages 21 and 24 who have a bachelor’s degree and aren’t seeking further education.

The analysis found that the unemployment rate for the high school grads who aren’t going to college has improved somewhat since hitting a high of 32.7 percent in 2010, but not enough to give young workers (and their parents) much comfort.

An average of 29.9 percent of high school grads between ages 17 and 20 who weren’t enrolled in further schooling were unemployed and actively looking for work between March 2012 and February of 2013, according to their analysis. That’s up from an average of 17.5 percent in 2007, when the job market was much stronger because the recession had not yet begun.

Getting a college degree still greatly improves people’s job prospects, but many young college graduates also continue to struggle to find a job after many years of high unemployment and dim job prospects.

The unemployment rate for young, recent college graduates who weren’t furthering their education stood at an average of 8.8 percent between March of 2012 and February of 2013, according to the EPI analysis. That’s down from an average of 10.4 percent in 2010, but still much higher than 5.7 percent in 2007.

The EPI report noted that more than half of young high school graduates were enrolled in a college or university, following a long-term trend toward more young Americans heading to college. Still, many are finding it difficult to finance the increasing cost of education, and the weak job market could make it hard for those young people to pay off their student loan debt.

That's especially true if they can’t land a well-paying job. The EPI analysis found that young high school grads were making an average of $9.48 an hour in 2012, while young college grads were earning an average of $16.60 an hour.

Both groups have seen wages fall in the past decade as the economy has weakened, according to EPI’s analysis. That could turn out to be a big problem for young workers because when you start out your career at a lower wage, it can take years and years to catch up.

According to EPI’s analysis, the class of 2013 could be earning less than they might have in a stronger economy for as long as 10 or 15 years.

Shierholz noted that the unemployment rate for young workers is always higher than average, and that’s especially true in times of economic distress. Now, she said, young workers are in a particularly tough place mainly because the overall job market has been so tough for so long.

“The unemployment rate of young workers is exactly what we would expect it to be just given the broader weakness in the labor market,” Shierholz said.

The overall unemployment rate fell to 7.6 percent in March, according to the Bureau of Labor Statistics. But economists weren’t cheered by the drop because it came as many Americans stopped looking for work and therefore were no longer counted in the tally. The unemployment rate only includes people who have actively looked for a job in the past four weeks.

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FX network FXX, start target younger viewers,

10:30 AM network, start, target, viewers, younger No Comments

The associated press, bar - 1 day

News turns to Corp-owned FX from a new cable network targeting young adult viewers.

Start Sept. 2, FXX will join big brother FX together with the film-oriented FXM. All three networks share the same sensibility, FX Networks President John Landgraf said announcement to make on Thursday. It is a way of thinking, covered by the brand new slogan, "Fearless".

"All in all, the three networks in the next few years 25 original series air," he added comparable to calling this illustration of a large broadcasting networks.

The lineup for FXX consists of the original series, movies and acquired series for adults 18 to 34, a slightly younger than the 18-up 49 audience, which attracts FX, demographic Landgraf said. FXX will initially be available in 74 million TV households.

The new channel will be anchored by the comedy "It's always sunny in Philadelphia" and "The League", two veteran series coming up now on FX. Also moves "Legit" FXX and the FX-late-night series "totally biased with W. Kamau Bell," which expands after a five nights a week.

FX is a new drama series titled "The bridge" July of this year. Actor Demian Bichirs and Diane Kruger, it focuses on two detectives, the hunt for a killer on both sides of the U.S.-Mexico border.

The pilot for a different future series, "Bully" will be set by two-time Oscar-winner Ang Lee this summer.

And FXs first limited series are "Fargo", inspired by the prestigious 1996 film of the same name. These are 10-episode drama, which is a whole new story to tell, from the film creator, Joel and Ethan Coen-produced.

In a further notice to the company that this fall of FX Networks his FXNOW app launches cable and satellite subscribers on the FX suite of channels access programming.

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Consumers, after brief rest, start saying 'charge it' again

4:00 AM after, again, brief, charge, consumers, saying, start No Comments

WASHINGTON -- U.S. consumer credit rebounded strongly in August after posting its first decline in nearly a year in July, Federal Reserve data showed on Friday.

The rebound would likely be interpreted as a short-term boon to growth, though it could bode ill for household balance sheets if it is not accompanied by a rise in real wages, which have been stagnant.

U.S. consumer credit rose $18.12 billion, the biggest gain since May, following July's revised $2.45 billion decline. Revolving credit, which mostly measures credit-card use, climbed $4.2 billion. Nonrevolving credit, which includes student and auto loans, rose $13.92 billion.

Credit has been expanding almost continuously since mid-2010 as the country recovered from the 2007-2009 recession. The decline in July was the first drop since August of last year.

A sharp drop in the U.S. jobless rate to 7.8 percent in September, reported on Friday by the Labor Department, suggested the economic recovery, while weak, continues to muddle along. (Reporting By Pedro Nicolaci da Costa; Editing by Neil Stempleman)

Copyright 2011 Thomson Reuters.

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McDonald's in France to start selling baguettes

1:06 PM baguettes, France, McDonalds, Selling, start No Comments

Almost-food giant McDonald's hopes to conquer Gallic heart and palate, the famous baguette add its menu in France, Le Figaro newspaper said on Thursday.

The food chain, which has initially in France with a range of burgers, fries and milkshakes at the end of which dared to 1970s, concessions to critics over the years, its offer salads and fruits add.

Now it wants that succumb to tradition and the hint of warm baguettes add other odors and sights the variety of its outlets in France.

"In the first 15 years of 1980, what we have done above all people was a slice of America, offer" Nawfal Trabelsi, Senior Vice President for McDonald's-business in France and southern Europe, said Le Figaro.

Today, fast-food chain was part of everyday life of the French and wanted to add a larger French touch, said he.

"The French are passionate about bread and crazy for baguettes," Trabelsi said.

French food nine sandwiches for each individual Burger, the it in, according to a consulting firm, Stow and most of these sandwiches are made with the traditional French baguette stick bread, said the newspaper.

Copyright 2011 Thomson Reuters.

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IMF process for selecting Start new head

5:06 AM process, selecting, start No Comments

WASHINGTON-the International Monetary Fund executive board meeting on Thursday, the process of selecting a new leader, Dominique Strauss-Kahn, replace resigned amid allegations that he maid Hotel rape start.

"We want to do this as quickly as possible," said that the IMF trade Managing Director John Lipsky at the annual meeting of the Bretton Woods Committee, the IMF and the World Bank advises.

His comments came shortly after Treasury Secretary Timothy Geithner the IMF a new boss in an open procedure select calls quickly. The United States, the IMF is the largest stakeholder.

Lipsky took over this week by Strauss-Kahn, who has denied the charges and has vowed, they fight with "all his energy." Strauss-Kahn, 62, was formally accused against Thursday.A Manhattan Supreme Court judge him bail granted, when he on $1 million with an insurance bond of $ 5 million. He was under house arrest provided 24-hours in New York City with electronic monitoring.

History: Former IMF leader will bail sex assault in

"I that may deeply regret, who needed it for me, substitute for General Manager of the Fund," said Lipsky.

Strauss-Kahn resignation set up a scramble, his successor to choose. He is widely praised for his leadership and efforts to solve Europe's debt crisis

Traditionally, the head of the IMF is a European while an American of the World Bank was running. Developing countries have long at this arrangement rubbed and ply officials from their countries of this time be taken into account.

The United States play a crucial role in the selection. The U.S. has more votes than any other individual country although collective Europe has the most weight.

Geithner statement is ambiguous and leaves open the possibility that a candidate of the two groups could support the United States. Some analysts said that the Government make their preference more behind the scenes and in a more impartial attitude in the public.

Lipsky stressed that the work of the IMF is gone this week despite the uncertainties of Strauss-Kahn. He said, on the IMF Executive Board, in addition to dealing with the search for a successor, had a meeting for Friday an emergency loan program for Portugal, one of the three European Nations assess their large debt burden they have planned again required to the IMF for help.

Lipsky said that the IMF "unique challenges of the moment." is, but it has a highly qualified staff that can fully carry on the work of the Organization, he said.

"The head of Department best is our Squad, which has had this institution at all," said Lipsky.

The IMF is strongly involved in delicate negotiations on financial support for troubled European countries such as Greece, Portugal and Ireland. The European governments are coalescing behind French Finance Minister Christine Lagarde as a leading candidate to replace Strauss-Kahn.

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Lipsky said that Europe and the International Monetary Fund should continue to reform efforts in euro zone countries compared with government bonds crisis support.

Europe set its traditional claim to the post itself as a fast-growing to find Nations as China and Brazil said, it's time to break this monopoly, and an IMF Chief of a developing country.

Hours after Strauss-Kahn resignation, any of the European Commission to the German Chancellor, the French Finance Minister said replacement should come from Europe. Not because of the tradition, they insisted, but because knowledge of the debt crisis in Europe a critical element portfolios should be any candidate.

"From a European point of view, it is essential that the appointment of merit-based, where economic and political experience and competence play the key role", said Olli Rehn, EU Commissioner for monetary and economic affairs. "And at this current time, it is one of the merits, if the person has very solid knowledge of the European economy and decision making."

Still, there's no indication when a decision is taken. But a meeting of the G-8-a group of eight developed countries - will be France next week in the seaside resort of Deauville, and it will be all important decision-makers.

The IMF Executive Board released a letter from Strauss-Kahn on Wednesday in which he denied said the accusations against him but that he felt he must resign to protect his family and the IMF.

Germany's former Federal Reserve Chairman, Axel Weber, include other potential European candidates the head of Europe's bailout Fund, Klaus Regling. and Minister of finance peer Steinbruck, German.

Candidates from other countries are former Finance Minister of Turkey, Kemal Dervis; Singapore's Finance Chief, Tharman master's degree; and Indian Economist Montek Singh Ahluwalia.

The associated press and Reuters contributed to this report.

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Donations to Japan start at slow pace

1:15 PM Donations, Japan, start No Comments

Last year, when an earthquake hit Haiti, one of the world's poorest hastened companies and non-profit organisations to support the country.

The first answer has more Japan than the much wealthier nation involved themselves with so far has left a devastating earthquake and tsunami, the 4,000 dead and at least 7,000 missing, was to all mention of an ongoing nuclear crisis is muted.

At least, was a total give lower than in other recent disasters so far to support the relief efforts in Japan. According to the Chronicle of Philanthropy charity raised, more than $47 million in the first four days after the disaster in Japan. On the other hand the earthquake in Haiti had increased to four days more than US$ 150 million last year.

The difference with notions of Japan's wealth and readiness for a major disaster, compared to the resources of an underdeveloped country like Haiti, handle can have to do, say experts.

In Japan, some can large U.S. businesses feel more forced, aid donations, because they have great customers or other business interests.

"You have company, the operations in Japan, have employees in Japan," said Catherine Rosqueta, the Managing Director for the Center for high impact Philanthropy at the University of Pennsylvania.

Related: Japan earthquake: how we help

But others have held back to be - at least in the beginning - because they not think first of all, they were needed.

"There is a large government in place - a large, strong Government, which has to do so," said Anup Malani, Professor has studied at the University of Chicago law school, corporate philanthropy.

Some organizations are not also ask for money. Nicole Wallace, a senior writer for the Chronicle of philanthropy, said 14 aid agencies the publication spoke with raising funds were not active, because they focus only on the developing countries, or because they operate were if they were needed from,.

The Chamber of Commerce said Wednesday that company had donated so far 137 million US dollars in bar or donations in kind. This tally is probably higher than organizations that have received total cash, donations so far largely because it contains non-cash contributions such as food, shoes or even software.

Vary giving efforts
Just a day after the earthquake in Haiti in January, giant pre-packaged retail Wal-Mart announced a donation of $500,000 and said that it was food kits worth $100,000. Overall the company and its foundations gave more than $1 million to Haiti relief efforts.

In Japan, where 414 operates Wal-Mart stores, an initial response focused the company on the supply of more as a means of payment, as the company organizations, water and other supplies worked with Government and relief food to needy people. Then said on Wednesday it would it $5 million in bar and donations in kind, including 95 tons of water and emergency supplies such as tents, portable toilets, clothing and cover make.

It is not surprising, a company with local operations trying to help this infrastructure, use in a crisis, Rosqueta said.

"they may to local knowledge, local knowledge and deploy of resources in a way, that you not if you (not) in a country," she said.

Other companies also on how they can use their own resources, to help people in the country - focused to mixed results.

Soon after the disaster struck, search launched a person Finder application, engine giant Google that helps people connect, looking for each other. The company, which is also a donation of $250,000 made has drawn kudos for the trouble.

Bing, the search engine operation run by tech rivals Microsoft, citing Twitter where it to donate $1 for every time someone a semi-promotional legend retweeted pledged launched. According to which quickly traced Seattle times the company and promised $ 100,000 donations, after some Bing criticising its occurs, the earthquake as a marketing opportunity to use.

Overall, Microsoft, said that it about 2 million USD aid, including $250,000 in bar and the rest in kind such as software pledge was.

The software giant donated $1.25 million in bar and in-kind donations to the Haiti disaster.

(Msnbc.com is a joint venture of Microsoft and NBC.)

Boeing Co., whose key customers are Japanese airlines, such as all-Nippon, announced on Tuesday that the company and its employees have a 2 million US-dollar donation to recovery efforts in Japan would make. Boeing has over 200 employees and some important business partners in that country.

About two weeks after the earthquake in Haiti, Boeing announced that employees about had donated $910,000 in the direction of relief efforts, and that the company would meet all employees gifts up to $1 million.

Starbucks, the coffee shops in Japan 15 years operated said this week it would donate $1.2 million toward relief efforts.

If the Haiti earthquake struck, the company's Foundation donated $1 million towards relief efforts and accepted donations for the Red Cross in your branches.

Not surprisingly, Japanese companies have been fast and generous in their response to the disaster.

Japanese automaker Toyota has donated US $ 3.75 million relief and recovery in his country of origin. The car manufacturers donated $500,000 to the relief operation in Haiti. Video game companies have also generously given.

If a company to donate said Rosqueta closely they look how they can donate should be used in an effective way, that actually helps with the work, rather than only for the company, decide.

"The first question is not, as a company, what can I donate?" she said.

Instead, she said the company should questions "what are the requirements on the ground?" Once you understand that then is the question, "is there a way that I can meet these requirements?" "

© 2011 msnbc.com reprints

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