Wages Drop



On June 28th the Bureau of Labor Statistics released its County Employment and Wages Fourth Quarter 2011 report.  The report states that the average weekly wage decreased by 1.7% to $955 from the fourth quarter of 2010 to the fourth quarter in 2011.  This decrease marks only the fifth wage loss since the Census began tracking the figure in 1978.  Olmsted, Minnesota experienced the greatest decrease in weekly wages amongst large counties, with pay dropping 21.3%.  In Olmsted the education and health services industries faced the most severe losses with a total wage decline of $287.3 million (-29.1%).

The large counties (population of at least 75,000) leading the way in employment gains were Kern, California; Fort Bend, Texas; Weld, Colorad; Williamson, Tennessee; and Utah County, Utah.  These counties had the highest percentage increase in employment, all of them seeing gains of at least 4.3%.  On a grander scale, the U.S. added 1.8 million jobs since December 2010, putting the national employment at 131.3 million.

8.1% Unemployment Predicted for Fourth Quarter


A survey conducted by the Philadelphia Federal Reserveinvolving 45 economic forecasters estimated that with current trends, unemployment is likely to drop to 8.1% by the fourth quarter. This poll shows an upward trend in the forecasting of economic prospects. A similar poll conducted in November projected unemployment averaging 8.7% in the fourth quarter. This optimism about the future of the nation’s economy is not necessarily unfounded. As of January the employment rate declined to 8.3%, a major improvement from November’s unemployment rate of 8.7%.

LinkedIn Exceeds Wall Street's Expectations with Strong Quarterly Showing

A Reuters article noted LinkedIn's strong showing in the fourth quarter of this past year, when its revenue of $167.7 million exceeded Wall Street's expected $159.7 million. At the same time a year earlier, revenue for the fourth quarter only totaled $81.7 million. And more money is expected to trickle in; the company, which went public in May, set a revenue estimate for 2012 in the range of $840 million to $860 million. Expectations were also strong outside the company: "Average Street estimates for the full year 2012 were $828.2 million in revenue."

Reuters credits the company's increased revenue "to strong product and subscription growth."

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