Recession's Latest Victim: Maternity Leave

Employment picture likely to remain grim for years, and predicting winning industries is a challenge

(NEWSER) - The job market is likely to be grim for years to come—economists expect that even if job creation returned to the brisk pace of the ‘90s, unemployment wouldn’t return to 5% until 2017. And for many of the unemployed, the numbers belie the real problem: The positions they're trained for may be gone forever. The real estate and finance industries, for example, will probably never support as many employees as they did before the recession. More»

Men have lost 3 times as many jobs as women since Dec. 2007

(NEWSER) - The US job market is closer than ever to gender equality because the recession has most heavily affected male-dominated industries, USA Today reports. Women held 49.83% of the nation’s jobs as of June. Since the recession began in December 2007, 74% of the 6.4 million jobs lost have been positions held by men. In local government, the inequality is particularly striking: regional authorities have fired 86,000 men while hiring 167,000 women. More»

(NEWSER) - Top law school grads are competing this fall for just half the number of entry-level positions big firms offered last year, in what the New York Times calls the most difficult employment season in half a century. One of New York's biggest firms has cut its hires by more than 50%, while a respected Philadelphia firm has foregone hiring completely. At top-ranked Yale, many leading law firms aren't even bothering to recruit. More»

In recession, grandparents replace summer camp for many

(AP) - The lingering recession is forcing cash-strapped parents to cancel camp for the kids—instead, they're being packed off to their grandparents'. The arrangement shifts the child-care burden to grandparents, many of whom enjoy the extra time with their grandchildren. Mom and dad save money and get some time to themselves, while the grandkids get more love and attention, and better food. More»

Another hurdle for job-seekers as unemployment nears 10%

(NEWSER) - Finding a job when unemployment is at 9.4% is hard enough. But the recently laid-off have another hurdle to contend with: Many employers are most interested in attracting candidates who are still working, the Wall Street Journal reports. “If they’re employed in today’s economy, they have to be first string,” says a partner at an executive recruiting firm. More»