Posts for July 2, 2010

21 PERCENT INCREASE IN MAY HOME SALES

July 2, 2010 – UB Daily

The Salt Lake Board of REALTORS reported sales of existing homes and condominiums in Salt Lake County climbed 21 percent in May compared to the same month a year ago. There were 1,237 homes and condos sold in May compared to 1,020 sales in the same month last year. From January through May, sales of homes and condos in Salt Lake County were up 24 percent compared to the same five-month period last year (4,587 sales compared to 3,701 sales).
View Full Article

CHINA RAISES 2009 GROWTH ESTIMATES

July 2, 2010 – Today in Manufacturing.net
Economy grew faster in 2009 than previously reported, adding to concern that stimulus spending and loans that drove the rebound left a dangerous glut of unneeded factories and assets... continue

CONCERNS RISE FOR DOUBLE-DIP RECESSION

July 2, 2010 – Today in Manufacturing.net
High unemployment, Europe's debt crisis, a slowdown in China, a teetering housing market and sinking stock prices are all weighing on a fragile U.S. recovery ... continue

E-VERIFY: REQUIRED POSTINGS

July 2, 2010 – Employers Council

As of July 1, 2010, private employers with 15 or more employees in Utah must use a status verification system (e.g., E-Verify) to verify a new hire's federal legal working status. Employers using E-Verify must post the following two notices – in both English and Spanish – in a prominent place that is clearly visible to prospective employees and all employees who are to be verified through the system:

1. “This Employer Participates in E-Verify”
2. “If You Have the Right to Work”

To download all four posters simply click here (the USCIS E-Verify Participation Poster page). Hard copies may be ordered by calling 888.464.4218. As always, a convenient and affordable alternative is to order full color, laminated posters from The Employers Council! Each of the four posters is $9.95 (plus shipping). English or Spanish sets of the posters are now also incorporated into our Combined Utah-Federal poster ($29.95 each, plus shipping), and into our Utah-Only poster ($19.95 each, plus shipping). A poster order form is attached, and can also be found at www.ecutah.org/posters.pdf.

HOW IS THE UTAH ECONOMY CURRENTLY PERFORMING COMPARED TO WHAT WE FORECAST SIX MONTHS AGO? Q:

July 2, 2010 – Mark Knold, Utah DWS Trendline

It is basically acting as was forecast. The large-scale employment losses have come to an end, and the economy appears to be, at worse, stabilizing—not yet showing any significant amount of job gains or reversals of previous job losses—or at best, starting to finally add jobs again. That is pretty much what the forecast was for this time period as of six months ago, so thus far, all seems on track.

Previously, we read the economy by assuming the bottom of the recession to have occurred in late summer 2009. Although the national panel of economists who determine the beginning and end of recessions has not yet said so, I believe they will eventually put the bottom of the 2007-2009 recession in that late-summer 2009 period. That is the low point of both the United States’ and Utah’s employment slide. Historically, the bottom of the employment slide lines up amazingly close to when this panel of economists has named previous recessions over.

Maybe a case can be made that the recession is over, but the affects and psychology of that recession are not yet behind us; not until the economy reawakens and starts to aggressively add jobs again. Unfortunately, that may not happen in 2010. There are still too many residual and hangover affects from the deepest recession in the post-World War II era to just say; “Okay, all gone, I feel better now, let’s party again.” The party leading up to that downturn was lavish, and there are industries and institutions still hurting, and possibly not destined to feel better for quite some time.

So what should we do? The only thing to do is hang in there, be patient, be thankful for the job you have, and wait until the medicine kicks in and relieves this hangover. But sometimes time and rest are the only cure for a “good” hangover.

PAYROLLS DROP 125K, JOBLESS RATE DECLINES

July 2, 2010 – Today in Manufacturing.net
Employers cut 125,000 jobs last month, the most since October, while the unemployment rate fell to 9.5 percent, its lowest level in almost a year... continue

UTAH DEPARTMENT OF WORKFORCE SERVICES BACK TO WORK INITIATIVES

July 2, 2010 – Utah DWS Trendline

DWS is trying to get people back to work, and here are two ways we’re doing
that.

Employer Hiring Incentive
The Department of Workforce Service (DWS) is developing an initiative to
provide Utah employers with an opportunity to re-employ approximately 3,700
Utah workers. DWS is targeting two groups of unemployed job seekers: 2,500
Unemployment Insurance (UI) claimants making no more than $15 per hour
in their last job, who are currently receiving UI benefits, and 700 unemployed
18-to-24 year-olds. A wage subsidy of up to $2,000 per participant, for a maximum
of three months will be provided to the employer for each employee hired. This
provides us with a unique opportunity to leverage our resources, stimulate job
growth, and help ensure the UI trust fund remains solvent.

American Reinvestment and Recovery Act (ARRA) TANF funds will be the primary
funding source for this program. Participating employers may be able to combine
this program with the recently enacted federal “Hiring Incentives to Restore
Employment” (HIRE) act that provides a temporary waiver of the employer’s 6.2%
share of Social Security taxes for each newly hired worker between February 3rd
and December 31st of 2010; and up to a $1,000 general business tax credit for each
worker retained for one year.

Re-employment and Eligibility Assessment (REA) Grant
The Department of Workforce Services was awarded a $1.3 million federal grant
from the U.S. Department of Labor on April 15, 2010, to assist unattached
Unemployment Insurance (UI) claimants most likely to exhaust their UI benefits.
The five basic components included are:
1) An online UI eligibility review and orientation of services selfassessment
2) One-on-one job-search assistance from trained re-employment
counselors
3) Receipt of current labor market and career information
4) Assistance in developing an employment plan, including workshops
and/or training, and
5) Integration of re-employment services with the UI system, as a condition
of UI eligibility.

To apply for these programs, please see your nearest DWS Employment Center:
http://jobs.utah.gov/regions/ec.html

WHAT TO EXPECT WHEN USING E-VERIFY

July 2, 2010 – Employers Council

Many people like to see a visual demonstration of a new procedure before they launch into using it. E-Verify requires attention to detail and meticulous follow-up. Here are some useful resources to help you become familiar with what the E-Verify process looks like before you enroll. Simply click on the hyperlinks below:
• E-Verify Quick Reference Guide for Employers
• How Do I Use E-Verify - "How Do I" Guide for Employers
• Preparing to Use E-Verify
• The Verification Process
• Questions and Answers

You can also watch these video clips by clicking on the hyperlinks below:
• Video: Employer Responsibilities and Worker Rights
• Video: How to Create a Case
• Video: How to Respond to a TNC

Or register for a USCIS hosted webinar:
• Sign up for a Webinar

The law is now in effect and it is time to E-Verify!