Showing posts with label U.S. Economy. Show all posts
Showing posts with label U.S. Economy. Show all posts

Friday, May 6, 2011

So Where are the Jobs?

So Where are the Jobs? For The U.S. Economy, Bouncing Back Is Hard To Do
Construction, Finance, State/Local Government Holding Recovery Back

PR Newswire

NEW YORK, May 5, 2011

NEW YORK, May 5, 2011 /PRNewswire/ -- When it comes to recessions, the U.S. economy doesn't bounce back like it used to, The Conference Board reports in an analysis released today.

By March 2011, the number of people employed in the U.S. was only 0.2 percent higher than in June 2009, when the recession ended, notes the report, entitled So Where are the Jobs?

The current recovery is the second slowest on record since 1961 – continuing a trend that began in 1991 of weak growth in both jobs and GDP. In the last three recoveries, neither GDP nor employment "roared back" as was typical after earlier downturns.

In the current recovery, some industries are doing better, others worse. "When looking across industries, the current recovery is showing some unique trends," says Gad Levanon, Associate Director of Macroeconomic Research at The Conference Board, and author of the report. "For example, employment in construction, finance and state/local government is not only declining, but declining much faster than in any other recovery since 1960. The decline in these industries is a result of forces that go beyond the ups and downs we see in typical recessions, and a strong bounce back is unlikely in the near future." Since the end of recession, total employment in construction, finance and state/local government declined by 1.06 million jobs, while the rest of the economy added only 1.3 million jobs.

The Conference Board report includes a breakdown by industry, including a listing of job recovery rates by sector and over time. For example:

* Hardest Hit : The number of jobs in construction (-8.1 percent), finance (-1.8 percent), and state and local government (-1.0 and -2.6 percent respectively) continued to decline in the 21 months after the end of the recession.
* Disappointing : Healthcare and leisure and hospitality jobs have recovered, but at a rate slower than any since 1960.
* Doing OK : Manufacturing suffered less job loss than in recent recessions, and in the last 12 months, manufacturing employment has grown at the highest rate since the 1990s.
* Shrinking Government : The growth in federal government jobs during the recovery has been historically high (38,000), but not enough to offset the unprecedented losses in state and local government jobs (-429,000).

Employment Outlook

In the near-term, employment growth will continue to be slow. The housing downturn, high oil and commodity prices, government austerity measures and limited consumer spending will prevent GDP growth from being more robust. Unemployment is likely to remain above 8 percent through 2012. The Conference Board forecasts GDP to grow at about 2.5 percent in 2011 and 2012, much lower than the rate of 3.5 to 4 percent typically reached during expansions.

Adds Levanon: "Longer-term prospects are more promising, however. In the last six months, employment outside of construction, finance and state and local government has already been growing faster than nearly any other six-month period in the last decade. Once constraints in these hard-hit sectors loosen, overall job recovery is likely to pick up pace."

Source: So Where are the Jobs? For the U.S. Economy, Bouncing Back is Hard to Do

Executive Action No. 349

The Conference Board

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501(c)(3) tax-exempt status in the United States.

Follow The Conference Board

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SOURCE The Conference Board

CONTACT: Carol Courter, +1-212-339-0232,, or Jonathan Liu, +1-212-339-0257,

Web Site:

Wednesday, March 9, 2011

Beer Industry Contributes $223.8 Billion to U.S. Economy

President Barack Obama drinking beer

8 Mar 2011 18:47 Africa/Lagos

Beer Industry Contributes $223.8 Billion to U.S. Economy

PR Newswire

WASHINGTON, March 8, 2011

Despite Economic Downturn, New Study Shows Quality Jobs, Solid Wages, and Strong Overall Economic Impact in 2010

WASHINGTON, March 8, 2011 /PRNewswire-USNewswire/ -- A new economic impact study shows America's beer industry, made up of brewers, beer importers, beer distributors, brewer suppliers and retailers, directly and indirectly contributes $223.8 billion each year to the U.S. economy. Commissioned by the Beer Institute and the National Beer Wholesalers Association (NBWA), the study shows that the industry generates more than 1.8 million American jobs -- which account for $71.2 billion in wages and benefits. The industry also contributed $44.7 billion dollars in the form of business, personal and consumption taxes in 2010.

"Brewers across the country, large and small, remain an integral part of their communities. Not only do they promote alcohol responsibility programs for local retailers, schools and families, this study shows they also create sustainable jobs and important tax revenues that contribute to our nation's economy," said Dave Peacock, president of Anheuser-Busch and chairman of the Beer Institute. "America's brewing industry continues to play a significant role in supporting the economy in each and every state."

"As independent businesses, America's 3,300 licensed beer distributors are proud to provide more than 98,000 quality jobs with solid wages and great benefits to employees in every state and congressional district across the country," said Larry Del Papa, president and CEO of Del Papa Distributing Company, Inc. in Galveston, Texas, and chairman of NBWA. "Beer distributors are deeply rooted in their local markets, so it's only natural that they work hard to keep their communities safe – especially by fighting underage drinking and drunk driving."

According to the study, the beer industry directly employs more than 1 million people, paying $32.5 billion in wages. Beer sales help support roughly 900,000 retail jobs, including those at supermarkets, convenience stores, restaurants, bars, stadiums, and other outlets. Supplier and induced impacts generate nearly $135.7 billion in economic activity in all industries specifically agriculture and manufacturing.

"These numbers demonstrate that our industry continues to play an integral role in providing jobs and revenue necessary to heal our recovering economy," said Joe McClain, president of the Beer Institute. "For this reason, it is important that state and federal officials consider equitable tax policies that do not unduly harm an industry that aids economic growth."

"In addition to providing quality jobs with solid wages, the three-tier beer distribution system provides transparency and accountability while offering American consumers with tremendous choice and variety – nearly 13,000 different labels of beer – at a great value," added NBWA President Craig Purser. "This time-tested, effective system of state controls, in which America's beer distributors play a critical role, works to ensure alcoholic beverages are sold only to licensed retailers who in turn are responsible for selling only to adults of legal drinking age," added NBWA President Craig Purser.

In addition to strengthening the U.S. economy, the beer industry plays a vital role in promoting responsible consumption of its products. Brewers, importers, and independent beer distributors, licensed at both the state and federal levels, dedicate significant resources to develop public safety, education and prevention campaigns and to promote federal and local programs that help reduce underage drinking and drunk driving. These efforts, along with those of parents, law enforcement, federal and state alcohol beverage regulators, educators, and other community groups, have helped contribute to declines in underage drinking and drunk driving for nearly three decades, according to government data.

The Economic Impact study was conducted by John Dunham & Associates based in New York City and covers data compiled in 2010. The complete study, including state-by-state and congressional district breakdowns of economic contributions, is available at Beer Serves America,

The Beer Institute, established in 1986, is the national trade association for the brewing industry, representing both large and small brewers, as well as importers and industry suppliers. The Institute is committed to the development of sound public policy and to the values of civic duty and personal responsibility: .

The National Beer Wholesalers Association (NBWA) represents the interests of America's 3,300 licensed, independent beer distributor operations in every state, congressional district and media market across the country. Beer distributors are committed to ensuring alcohol is provided safely and responsibly to consumers of legal drinking age through the three-tier, state-based system of alcohol regulation and distribution. To learn more about America's beer distributors, visit

SOURCE Beer Institute

CONTACT: Andrew Koneschusky, Beer Institute, +1-202-777-3553; or Emily Kuhn, NBWA, +1-202-289-2001

Web Site:

Monday, September 13, 2010

Obama's Proposed Oil and Gas Tax Hikes to Cost U.S. Economy 154,000 Jobs in 2011

13 Sep 2010 05:01 Africa/Lagos

Obama's Proposed Oil and Gas Tax Hikes to Cost U.S. Economy 154,000 Jobs in 2011

White House's new 'stimulus' plans would trigger loss of $341 billion in economic activity

WASHINGTON, Sept. 13 /PRNewswire-USNewswire/ -- Louisiana State University Endowed Chair of Banking and nationally-renowned economist Dr. Joseph R. Mason estimates that President Obama's proposed energy tax changes would trigger grave economic consequences. In the newly released "Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual-capacity Tax Credit for Oil and Gas Producers," Dr. Mason finds the resulting fallout over the next ten years would include:

-- Initial losses of over 154,000 jobs by the end of 2011, not only in
the energy sector but across the whole economy;
-- More than $341 billion in lost U.S. economic output; and
-- In excess of $68 billion in lost wages nationwide.

"As we've seen in its 2011 budget and newly unveiled 'stimulus' plans, the Obama administration aims to single out U.S. oil and gas firms and raise the cost of energy for consumers by eliminating crucial tax credits to which all taxpayers are entitled," Dr. Mason said.

"Though politicians think they are selectively targeting 'Big Oil' with these energy tax proposals, they would actually devastate thousands of small American businesses nationwide as well as the workers who depend on them. With at least 150,000 U.S. jobs at stake - in fields ranging from healthcare to real estate - it's clear that the costs of repealing Section 199 and dual capacity far outweigh the potential benefit of increased government revenues that may be derived from the proposal."

"The discriminatory energy tax increases proposed by the administration will destroy American jobs and raise the price of energy for consumers," president and CEO of the American Energy Alliance Tom Pyle said. "President Obama's proposed changes -- which would apply solely to oil and gas companies -- have little to do with the debate over offshore drilling safety or even energy policy in general. This tax grab merely represents punitive policies that are now finding a place in the sun in the post-BP oil spill crisis political environment."

Using the government's own economic model - the U.S. Commerce Department's RIMS II system - Dr. Mason provides incredibly conservative economic impacts. In fact, these already staggering estimates do not even include the effects of the proposed tax increases on individual investors. That means if Congress implements these proposed changes, the economic fallout could be even more substantial.

Dr. Mason's report was sponsored by Save U.S. Energy Jobs - a project of the AEA - established to help promote the nation's energy sector. To learn more and get exclusive information on upcoming projects, follow Save U.S. Energy Jobs on Twitter and Facebook.

Founded in May, 2008, The American Energy Alliance ("AEA") is a not-for-profit organization that engages in grassroots public policy advocacy and debate concerning energy and environmental policies. AEA is the advocacy arm of the Institute for Energy Research (IER), a not-for-profit organization - founded in 1989 - that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets.

Source: American Energy Alliance

CONTACT: Laura Henderson of American Energy Alliance, +1-202-380-5758

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