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Women-Owned Businesses: Federal Contracting Incentives for Women in Small Business

In Uncategorized on January 9, 2012 at 10:41 PM

Women-Owned Businesses: Federal Contracting Incentives for Women in Small Business

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big (BN) U.S. Economy’s Challenges Greater This Year Than Last, Gluskin Sheff Says

In Uncategorized on January 9, 2012 at 9:58 PM

Bloomberg News, sent from my iPhone.

Gluskin Sheff’s Rosenberg Sees More Challenges for U.S. Economy

Jan. 9 (Bloomberg) — David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates Inc., said the U.S. economy faces more challenges in 2012 than last year, while he backed away from his prediction the nation was facing a near- certain recession.

“Certainly, we’re not in a recession right now,” Rosenberg said in an interview on Bloomberg Television’s “In the Loop” with Betty Liu. Nonetheless, he said, “I still believe the economy is still fragile and this recovery is still quite spotty.”

The effects of the European recession and a slowdown in China will weigh on U.S. exports and industrial production this year, he said. Even last week’s stronger-than-forecast jobs growth number of 200,000 for December may end up being revised down to about 140,000, when holiday hiring at delivery companies and other seasonal factors are taken into account, he said.

Rosenberg, who in a Bloomberg Radio interview last Aug. 5 gave 99 percent odds the U.S. would fall back into a recession, said today he didn’t have “as much conviction” as before that the U.S. faced another slump.

“As challenging as the year was in 2011, I expect 2012 is going to be even more challenging,” Rosenberg said in the interview from Toronto. “When you consider all the headwinds coming from overseas: Europe is in a recession now, it was not in a recession a year ago; we’re now talking about hard-landing risks in China, we weren’t talking about that a year ago.”

For all of 2011, monthly payroll growth averaged 137,000, and total jobs growth was 1.64 million after a gain of 940,000 in 2010. Even with the gains, little headway has been made in recovering the 8.75 million jobs lost as a result of the recession that ended in June 2009.

The U.S. economy will end up growing about 1.5 percent to 1.75 percent in 2011, Rosenberg said. He didn’t provide forecasts for this year.

To contact the reporters on this story: Bob Willis in Washington at bwillis Betty Liu in New York at bliu17

To contact the editor responsible for this story: Christopher Wellisz at cwellisz

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hot (BN) More U.S. Part-Time Workers Unearthing Full-Time Jobs: Economy

In Uncategorized on January 9, 2012 at 9:56 PM

Bloomberg News, sent from my iPhone.

More U.S. Part-Time Workers Unearthing Full-Time Jobs: Economy

Jan. 9 (Bloomberg) — More Americans are moving from part- time to full-time jobs, adding to evidence a strengthening labor market will bolster household confidence and spending.

The number of people putting in a full week rose to 113.8 million in December, the most since February 2009, the Labor Department’s monthly employment report showed last week. At the same time, 8.1 million worked fewer hours because they couldn’t find a full-time job, the least since January 2009.

“It’s what will traditionally happen when the job market overall is beginning to improve,” Tig Gilliam, chief executive officer of Adecco Group North America, said in a telephone interview.

While the jobless rate fell 0.5 percentage point over the past three months, going from 9 percent to 8.5 percent, the so- called underemployment rate, which includes part-time employees who’d prefer a full-time job, dropped by 1.2 percentage points to reach 15.2 percent. The gain in hours and earnings resulting from a full-day’s work will probably help sustain consumers.

“By moving into more permanent positions, you get a more productive workforce,” said Michael Gapen, a senior U.S. economist at Barclays Capital Inc. in New York. “It makes labor more valuable and that means moderate wage growth, even with the unemployment rate at 8.5 percent. That translates into better consumption momentum entering this year.”

Stocks rose as German Chancellor Angela Merkel and French President Nicolas Sarkozy discussed plans to shore up the euro. The Standard & Poor’s 500 Index climbed 0.1 percent to 1,279.08 at 9:34 a.m. in New York.

German Production

Germany’s economy, meantime, may be stalling. A report today showed industrial production in Europe’s largest economy fell 0.6 percent in November from a month earlier.

In Australia, retail sales were little changed in November from a month earlier, when they rose 0.2 percent, the Bureau of Statistics said in Sydney today.

Adecco, headquartered in Melville, New York, is a division of Glattbrugg, Switzerland-based Adecco SA, the world’s largest supplier of temporary workers. Gilliam said his industry “is still seeing double-digit growth in permanent placements and conversions” from part-time and temporary to full-time employment. “When the market gets that much better, the direct hiring accelerates even more,” he said.

Payrolls increased by 200,000 workers in December and the 8.5 percent jobless rate was the lowest since February 2009, last week’s Labor Department figures showed.

Merrier Holiday

Beatrice Barry, a 37-year-old single mother, said her new full-time job enabled her to brighten the holidays for her two daughters.

“It’s a good feeling to have the financial security,” said Barry, who found full-time work in November at the Society of Nuclear Medicine in Reston, Virginia. “This year was a stellar holiday shopping year for me. I was able to buy a couple of larger-ticket items.”

Barry, who had been working part-time for the American Industrial Hygiene Association, said she needed a full-time job to support her children.

The improvement in the labor market is prompting some economists to boost growth forecasts for 2012. The world’s largest economy will grow at an average 2.1 percent annual rate in the first half of the year, up from a prior estimate of 1.8 percent, according to new estimates issued Jan. 6 by economists at Bank of America Corp. in New York.

“Over the last several weeks, U.S. economic data has almost universally surprised to the upside,” Neil Dutta, a Bank of America economist wrote in a Jan. 6 research report. “The employment report is a case in point.”

Second-Half Slowdown

Nonetheless, the economy will probably slow in the second half of the year as the threat of tax increases and government spending cuts, political gridlock over the federal debt and a recession in Europe hurt U.S. growth, Dutta wrote.

The number of people working part time for economic reasons fell by 1.17 million in the past three months, the biggest decline over a similar period since early 1994, figures from the Labor Department show. That brought the underemployment rate for the group to 5.2 percent, the lowest since January 2009.

The rise in full-time employment contributed to other gains in December. Average hourly earnings rose 0.2 percent to $23.24, and the average workweek increased by six minutes to 34.4 hours, according to the Labor Department.

“We’re going to see one of the bigger increases in earned income,” said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh.

To contact the reporter on this story: Timothy R. Homan in Washington at thoman1

To contact the editor responsible for this story: Christopher Wellisz at cwellisz

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(BN) Consumer Credit in U.S. Increases by Most in Ten Years (2)

In Uncategorized on January 9, 2012 at 9:54 PM

Bloomberg News, sent from my iPhone.

Consumer Credit in U.S. Increases by Most in Ten Years

Jan. 9 (Bloomberg) — Consumer borrowing in the U.S. surged in November by the most in 10 years, showing households are optimistic enough to take on debt and banks are willing to lend.

Credit increased by $20.4 billion, the biggest jump since November 2001, to $2.48 trillion, Federal Reserve figures showed today in Washington. The advance was almost twice as big as the highest forecast of 31 economists surveyed by Bloomberg News.

Increasing borrowing signals a drop in unemployment is giving households the courage to take advantage of holiday discounts, buy cars and finance higher education. At the same time, dependence on credit means the job market has yet to improve enough to provide the incomes needed to sustain consumer purchases, which account for about 70 percent of the economy.

“Consumers are feeling more confident and making more big- ticket purchases,” said Richard DeKaser, deputy chief economist at Parthenon Group Inc. in Boston, who projected credit would climb by $11.6 billion, the highest estimate in the Bloomberg survey. “The debt pay downs of previous years are now allowing consumers to borrow a bit more freely.”

Stocks held earlier gains after the report. The Standard & Poor’s 500 Index rose 0.2 percent to 1,280.12 at 3:20 p.m. in New York.

Survey Results

The median forecast in the Bloomberg survey projected a $7 billion gain. Estimates ranged from a $6.4 billion drop to an increase of $11.6 billion. The level of borrowing was the highest since September 2009.

Revolving debt, which includes credit cards, climbed in November by $5.6 billion, the biggest advance since March 2008, according to the Fed’s statistics.

Non-revolving debt, including educational loans and loans for autos and mobile homes, increased by $14.8 billion, the most since February 2005, today’s report showed. The Fed’s report doesn’t track debt secured by real estate, such as home equity lines of credit.

Auto purchases ran at a 13.59 million annual rate in November, the highest level since August 2009, according to industry statistics from Ward’s Information Products. Cars sold at a 13.5 million rate last month.

General Motors Co., Ford Motor Co., Chrysler Group LLC reported December vehicle sales that beat analysts’ estimates, capping the U.S. auto industry’s best year since 2008.

“We’re still in recession-like industry size,” Don Johnson, GM’s vice president of U.S. sales operations, said Jan.4 during a conference call with analysts. The growth is still based on a slow increase in jobs, he said.

Confidence among consumers rose to an eight-month high last month as an improving job market helped Americans regain all the ground lost following the budget battle and credit-rating downgrade, figures from the Conference Board.

The jobless rate unexpectedly fell to 8.5 percent in December, the lowest level since February 2009, and payrolls grew by 200,000 workers, figures from the Labor Department showed last week.

To contact the reporter on this story: Meera Louis in Washington at mlouis1

To contact the editor responsible for this story: Christopher Wellisz at cwellisz

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8 January, 2012 07:05

In Uncategorized on January 8, 2012 at 7:05 AM

OSBCapital Report. Big News for Small Business.

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In Uncategorized on January 7, 2012 at 6:32 PM

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