Benefits February 15, 2002

US Workers Proud, But Unhappy

February 15, 2002 (PLANSPONSOR.com) - US workers are more proud of their employers in the months following September 11, but are also unhappier with their jobs, a national workplace survey finds.
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The Worktrends survey by research firm Gantz Wiley also found that 68% of workers are supportive of their company, up 5% from a year ago, a the Minneapolis Star Tribune reports.

At the same time, the number of people not looking to job hop was 81% last year, down from 87% in 1990, researchers said. The survey found particularly precipitous decreases in the retail/wholesale trade and transportation service sectors with a 67% job satisfaction rate in both.

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September 11 Effects  

Reacting to the events of September 11, 36% said they could see little workplace change after the terrorist attacks in New York City and Washington, while 8% – mostly hotel and service workers – reported significant differences.

Increased security was the most commonly cited post-September 11 effect, with 43% saying it’s had an impact at their workplace. The post-attack economic downturn in their workplace was named by 23% of the respondents.

Investing February 14, 2002

Unemployment Claims Continue Downward Trend

February 14, 2002 (PLANSPONSOR.com) - The number of Americans seeking first time unemployment benefits shrank by 8,000 in the week ending February 9, according to data from the Department of Labor.
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The number fell to a lower than anticipated 373,000 from its revised 381,000 level the previous week.

Though the number is on a downward trend, it is still well above that reported the same time last year, when initial unemployment insurance claims were 344,000

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The four-week moving average, considered a better barometer of the unemployment situation because it irons out weekly fluctuations, fell for the fourth week in a row, to 376,000 from 381,500, its lowest level since August last year.

The states with the largest decreases in initial claims for the week ending February 2, the latest week for which data are available, were:

  • Georgia, where claims fell by -5,677, as layoffs in the textile industry moderated,
  • Texas, where the figure dipped by -2,577, as layoffs moderated in the manufacturing, information, and wholesale trade industries, and
  • Pennsylvania, down by -1,530, as fewer jobs were axed in the construction, food, primary metals and transportation industries

The latest report comes on the heels of yesterday’s data release from the Bureau of Labor Statistics, which showed a significant increase in mass layoff actions in the fourth quarter of 2001.



 

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