- Created on 05 April 2013
(CNNMoney) -- Hiring slowed sharply in March, with the economy adding only 88,000 jobs, the lowest monthly gain since last June.
The unemployment rate slipped to 7.6%, according to a Labor Department report released Friday. But it's not good news: It's because nearly 500,000 people dropped out of the labor market.
Economists surveyed by CNNMoney were expecting an increase of 190,000 jobs in March. They had expected the unemployment rate to hold steady at 7.7%.
The monthly jobs data concluded a week of downbeat labor market news.
A report Thursday showed that initial unemployment claims jumped 28,000 for the week ending March 30.
On Wednesday, payroll processor ADP said that private sector hiring had slowed in March, due in large part to a slowdown in construction.
- Created on 04 April 2013
Certified personal and executive coach Valorie Burton knows a thing or two about getting beyond fears and perceived challenges to attain the happiness and success every woman deserves. The founder of The CaPP Institute, a firm that provides practical training and personal development services, has written seven books on the subject and successfully coached hundreds of clients. Burton, who relies on strong faith, has used her passion for empowerment to inspire and help drive the dreams of professionals and executives across the nation.
BlackEnterprise.com caught up with Burton, who’s eighth and most recent book is Successful Women Think Differently (Harvest House Publishers; $12.99), about how women can get beyond mental barriers and push for advancement in their careers, and ultimately in their lives.
BlackEnterprise.com: What are some bad habits women who are unhappy or unsuccessful have that successful women don’t?
Valorie Burton: I think the biggest is simply [thinking] success is about steps you take. When u really look at it, it’s not simply about steps. It’s about what you say to yourself when faced with challenges or failures. When successful women fail, they don’t see it as personal or all their fault. They don’t internalize it, but really analyze it. They have to be objective enough to understand what’s in their control to change. Some people are naturally more optimistic, but you can learn to change how you think by being more aware about what you’re saying or thinking.
In this market, where there’s always the doom-and-gloom news about jobs as they relate to young professionals, how can they get past that for ultimate success?
Turn the TV off. Stats are stats, but you don’t have to be part of that. I think we sometimes give too much credence to what we hear in news and assume it has to apply to us and on a long-term basis. I’ve been in business going on 16 years, and it hasn’t always been easy, but you find what’s really working in the marketplace and pay close attention. People who are most successful, build relationships and add value.
At the beginning of my book I focus on solutions, not problems. Choose courage over fear. That’s a decision. Most successful people tend to have a lot of courage. You have to see in your mind and have a lot of faith.
People often say that women aren’t as aggressive when it comes to career advancement, while men set a definitive strategy and are not afraid to go after it full force. What do you think about women’s typical approach to climbing the ladder in their career.
I think that as a group, men tend to be more assertive, and they’re more likely to ask for raise. They don’t think a thing about it, even if they haven’t earned it. Women will say, ‘Am I asking too much?’ Some of it is socialization.
You have to make a plan. It’s important to ask questions of people who’ve been there and done that. Even if you don’t know those peole, pay attention to what they’ve done, their successes and favors.
If you give your 21-year-old self advice as it relates to your life or career, what would it be?
Be clear about why you’re here and the contribution you’re supposed to make in the world, and go after it with all your heart. As cliché as it sounds, learn what you like and who you are. Be yourself and don’t be apologetic with your life. Plan career, but also make plans for your personal life. Sometimes we get overly focused on career, and it’s really important have clear vision of what you want in your personal life. You should plan that as much as you plan your professional life.
(Photo: Certified executive coach and founder of The CaPP Institute, Valorie Burton Image: File)
- Created on 04 April 2013
A new report finds that more than 800,000 Georgians will be eligible for government assistance in 2014 to buy health insurance coverage as part of the newly created Affordable Care Act insurance exchange.
The subsidies, which come in the form of tax credits, would trim the cost of insurance for individuals and families in the new exchanges set to start in January under the Affordable Care Act.
The Georgia report released Wednesday by Families USA, a longtime supporter of the 2010 health care law that describes itself as a national nonprofit, non-partisan organization dedicated to the achievement of high-quality, affordable health care for all Americans, also found that most Georgia residents who are eligible for credits are in working families and have incomes between two and four times the federal poverty level, about $47,100 to $94,200 for a family of four. It also found that more than 88 percent are employed.
Families USA has released reports about 14 other states so far and will release one about each state’s new health care exchanges.
Two-thirds of the eligible Georgians are ages 18 to 54. Slightly more than half are white, 28 percent black, and 13 percent Hispanic, the study found.
The counties with the highest numbers of people eligible are clustered in the populous metro Atlanta area: Fulton, with 77,410; Gwinnett, 71,510; DeKalb, 62,510; and Cobb, 48,940.
Georgia has 1.9 million uninsured citizens, which translates to about one in five residents. That’s one of the highest uninsured populations and rates in the nation, noted Cindy Zeldin of consumer group Georgians for a Healthy Future.
“There’s still a lot of confusion about the upcoming changes,’’ Zeldin said.
She also noted that the credits will “level the playing field’’ in insurance for those who don’t have access to job-based coverage.
The National Federation of Independent Business and other opponents of the Affordable Care Act predict that many individuals will forgo the tax credits and remain uninsured, opting instead to pay the penalty for not having coverage.
The exchanges are one of two main ways designers of the ACA envisioned expansion of insurance coverage; the other way was through states expanding Medicaid programs and Gov. Nathan Deal has vowed not to expand Medicaid.
According to some projections, Medicaid expansion would add more than 650,000 people to Georgia’s insured
- Created on 04 April 2013
(CNNMoney) -- The long-rumored "Facebook phone" is closer to becoming a reality, after the social network on Thursday unveiled Facebook Home, a custom homescreen for Android smartphones.
Facebook Home integrates all of the social network's services into the operating system of Android phones. Instead of having to download and call upon apps to get to services such as Instagram, Facebook Messenger, and Facebook Camera, access to those features is simply baked into Facebook Home. After a user downloads Facebook Home to an Android phone, all those services become available from virtually anywhere in the device.
One example is a change in how messaging works. The Home user interface pops up messages on top of any app without taking you out of that app. That's something that isn't really possible on any current smartphone.
Home emphasizes visuals. When you wake up a phone running Facebook Home from sleep, a feature called Cover Feed appears, allowing you to move through links, photos, and status updates.
Notifications -- the kind that cause the red flags to pop up on Facebook.com -- sit on top of Cover Feed. That feature allows you to access the "important" stuff, as Facebook puts it. At the bottom of the screen is a single button that, when pressed, provides quick access to the apps menu, Facebook Messenger, and your last-used app.
In the past, Facebook CEO Mark Zuckerberg has repeatedly denied working on any sort of a Facebook phone. In a press conference Thursday, Zuckerberg reiterated that strategy, saying even a "great phone" could likely only sell up to 20 million units, reaching just 2% of the company's 1 billion active users.
That's why Facebook opted instead to push out software that isn't really a Facebook phone -- the software is just a "skin" on Google's Android mobile operating system.
- Created on 03 April 2013
The World Bank has suspended disbursements to Grenada after seven loan defaults in February.
The Washington-based financial institution said no new loans would be issued to Grenada unless the island makes good on the overdue payments amounting to $750,000.
The payments were due on February 15 and the World Bank has written to Prime Minister Dr. Keith Mitchell saying failure to make the loan payments on time is hampering its ability to assist other member countries. “As of today, March 18, 2013, we have not been advised by our Depository Banks that the payments cited above have been paid into our accounts,”said the Bank in a letter Mitchell, whose New National Party (NNP) won the February 19 general elections by sweeping all the 15 seats.
“Our ability to mobilize resources for the benefit of our member countries depends critically on the punctual servicing of loan and credits. For this reason, we insist on settlement of all payments when they fall due”. The loans, covering projects such as disaster management, Organization of Eastern Caribbean States (OECS) education, skills for inclusive growth and Hurricane Ivan recovery, also include separate overdue amounts of more than US$300,000.
The Washington based institution told the new government that it has been forced to take this action since the seven payments are more than 30 days overdue.
The World Bank’s action against Grenada comes on the heels of similar decisions taken against the island in recent months reflecting concerns about the general management of the local economy.
The Kuwaiti fund suspended disbursement to the island after the government fell behind on payments to existing loans, and last December Standard and Poor’s lowered its credit rating on the Caribbean Development Bank blaming CDB’s public-sector loan portfolio.
Standard and Poor’s said one government borrower, known to be Grenada, is more than 180 days in arrears to CDB on interest and principal.
The new government has embarked on an aggressive program on making current, overdue payments on outstanding loans so as to save the country from these embarrassing situations.
A government statement issued Wednesday said that Prime Minister Mitchell held talks with members of the Grenada Bankers’ Association, indicating that the relationship between them has to be one of partnership.
“We have to work together as partners in this process of economic revival, if we want to move Grenada forward,” he said, proposing the establishment of a Growth and Competitiveness Council, to advise government on economic policy and initiatives that will promote economic growth.