America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.
Jobs
The job fair, scheduled for 9 a.m. to 3 p.m. at the CTA’s 567 W. Lake St. main office, will give job seekers a chance to attend information sessions on the bus positions and apply on site.
Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won’t fuel higher inflation.
It is the company’s biggest-ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry. Just this month, there have been at least 48,000 job cuts announced by major companies in the sector.
Yet the figures show there are nearly 1.8 jobs for every unemployed person, down from a peak of 2 but historically very high. Before the pandemic, there were usually more unemployed people than jobs.
Bally’s Chicago casino is set to have 3,400 slots and 173 table games in addition to an exhibition hall, 500-room hotel, a 3,000-seat theater and 11 restaurants. The development will include a 2,100-square-foot park and walking path along the river and a three-level underground parking garage, according to the plans released by city officials.
The $1.74 billion proposal still needs the approval of the Illinois Gaming Board, which must license Bally’s to operate the Chicago casino set to be built along the Chicago River near Chicago Avenue and Halsted Street.
The European carmaker said it will “idle” the assembly plant in Belvidere, Illinois on Feb. 23 and said the layoffs are expected to exceed six months.
The ambitious plan included a community center, a technology hub, partnerships to offer free tuition and provisions for contracting with Chatham’s small service businesses.
While the overall unemployment rate for Chicago is nearly 5.8% in August, the rate for Black residents is more than twice that, at 14.3%.
The first of 10 developments planned as part of Mayor Lori Lightfoot’s Invest South/West initiative to start construction is a 58-unit apartment complex set to be built near 79th and Green streets in Auburn Gresham.
A career development initiative has taken root on Chicago’s South Side for young people who want to improve the health of their community.
The Illinois Child Care for All Coalition is calling for publicly-funded universal child care, saying it is unavailable and unaffordable for many in the Prairie State.
“We believe it’s in the best strategic interest of the company to make this move,” CEO Jim Umpleby said.
With Tuesday’s successful vote in Chicago and another in St. Louis, organizers say there are now 150 union Starbucks locations around the U.S.
Starting in July, minimum wage employees of larger businesses will see their paychecks rise by 40 cents an hour to $15.40
