The worst recession since the great depression made a big dent on US economy and it will weigh on US labor market for many years to come.  The result of the latest Wall Street Journal  survey with 48 economists speculates that US economy will witness 3.1 % growth in Gross Domestic Product starting from the third quarter of this year. The labor market is going to take longer time to heal due to this heavy recession. The economists also predicts that chances are less that unemployment will be below 6%. Currently, it stands at 9.8 % in September.

Full article (213 words) »

The Chief Executive Mark Hurd of Hewlett Packard Co told an audience at the company's yearly analyst meeting on Thursday that IT industry is going to witness growth during the year 2010. The IT spend is expected to bounce back during the next fiscal year. The company further stated that many technology companies are looking forward for a new cycle of corporate hardware that is expected to begin next year, as large companies are going to replace old machines with the latest equipment.

Full article (282 words) »

I will start with the story straight up.

Kimberley Swann, a 16-year-old girl from Clacton-On-Sea in Essex, began working as an office administrator for Ivell Marketing & Logistics at the beginning of February. She began posting short comments about her job on her Facebook profile, such as "first day at work. omg!! So dull!!", "all i do is shred holepunch n scan paper!!! omg!" and "'im so totally bord!!!"  What Swann didn't realize is that her employer, Stephen Ivell, found her comments when he presumably discovered and accessed her profile. On Feb. 27, Ivell called Swann into his office and fired her on the spot. Ivell handed her a letter which said, "Following your comments made on Facebook about your job and the company we feel it is better that, as you are not happy and do not enjoy your work, we end your employment with Ivell Marketing & Logistics with immediate effect."

Full article (337 words) »

The statisticians bring no good news but something to be very scared of. This recession has deservingly placed itself in history of worst job losses in 60 years. With output still falling at a dizzying rate, most companies are shedding unneeded workers and cutting back the hours of those remaining.

The economic patient is still in critical condition, with little medication to relieve the pain, We will have to bite the bullet.

wrote economists Brian Bethune and Nigel Gault of IHS Global Insight.

Full article (166 words) »

Recession spares none. And now its time for media. San Francisco Chronicles, one of the most known newspapers around the world, may face the bitter consequences of losing  $14 Million last year. Hearst Co. plans to close or sell its San Francisco Chronicle newspaper unless it can cut more jobs signals that the industry’s advertising sales may be headed to new lows.

Full article (179 words) »

With recession hitting the world economy, video games continue its record sales. The video game market is thriving with blockbusters like Grand Theft Auto IV, and popular ones like the Nintendo Wii. That doesn't mean the video game industry was safe as the Banks of England( I mean Gordon Banks). Even the latest releases like The Lord of the Rings: Conquest - Xbox 360 are catching up fast.  Although the video game market is thriving, the current scenario seems speculative. Full article (187 words) »