75 employees Receive notices at UMDNJ

Thu, 21 Aug 2008 03:47:01 GMT

Three campuses Newark, Brunswick, and Strattford have employees that have received lay off notices. The University of Medicine and Dentistry of New Jersey sent the notices on Friday to mangers, professionals and support staff. Other measures have been taken to protect the 15,000 current employees. They have eliminated vacant positions and are adjusting as best they can to the state budget cut that eliminated around 22 million dollars in aid (10 percent). The University has a $49 million dollar budget gap and more lay offs are expected. www.EmploymentCrossing.com

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Unemployment Claims Rise

Fri, 25 Jul 2008 21:33:02 GMT

Reaching the highest mark in 4 months, new Unemployment Claims increased by 34,000 for the week. The Labor Department reports the 406,000 new claims for the week further illustrate a poor labor market. With the national Unemployment Rate at 5.5%, U.S. joblessness has become a major concern. In 2001, weekly unemployment claims averaged 415,000. Any figure above 350,000 indicates a weak job market and shows poor growth in the economy. The Labor Department projects the Unemployment Rate will reach 5.8% by the end of the year. Employers are looking to cut their labor costs, as they are threatened by the Big Three: fuel costs, a slump in the housing market, and a national credit crisis. Consumers have been cutting back on spending, which continues the trend, as retail represents two-thirds of the economy. 37 states reported increases in new unemployment filings. The report also found the number of continuing unemployment claims, actually dropped by 9,000, to 3.1 million. http://www.EmploymentCrossing.com

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75 employees Receive notices at UMDNJ

Unemployment Claims Rise