Unemployment Hits 14.7 Million Another 467,000 workers became unemployed in June, sending unemployment to 14.7 million and the unemployment rate to 9.5%. Since the recession began in December 2007, 7.2 million workers have become unemployed. Over half (4.4 million) have been unemployed for over two years.

Year-over-year, there are 5.4 million fewer jobs, worse than the 2001 recession. Although that recession only lasted 8 months, it led to 29 months of job losses. This recession is 18 months old, so many more months of job losses can be expected.

There were an additional 9 million part-time workers who would have preferred full-time work, according to the Employment Report released by the Bureau of Labor Statistics (BLS).(Source: BLS, Employment Situation Summary)

Manufacturing, a leading indicator, continues to decline. The economy now has 1.6 million fewer manufacturing jobs than the year before, continuing a two-year decline. Manufacturing is a leading indicator because it produces the big-ticket items consumers put off buying in a recession. Once the economy starts to improve, these orders are the first to come back. In the last recession, manufacturing jobs started to improve before the overall job market.

By Timothy Prickett Morgan • The US Department of Labor wanted to give out a little good news about the economy ahead of the July 4th holiday weekend in the States, but unfortunately that was not possible. The rate of job losses accelerated in the US in June, with 467,000 employees let go across all companies and industries excepting farming.

As El Reg reported a month ago when the May jobs report came out of the Bureau of Labor Statistics, companies in the States slashed 345,000 jobs in May, boosting the unemployment rate to 9.4 per cent. Through the magic of seasonally adjusting the numbers, slicing another 467,000 jobs in June only pushed the unemployment rate to 9.5 per cent, according to the BLS.

This strikes me as BS, and it is a pity that it is not just called the Bureau of Statistics. It is also a pity that Uncle Sam doesn’t do the smart thing and count jobs and job cuts by job type and title, not by industry. You need both sets of data if you want to understand an economy.

Anyway, according to the June jobs report,, the job losses were in just about every sector of the economy, but hit the manufacturing, construction, and professional and business services sector particularly hard. Manufacturers shed another 136,000 jobs in June, according to the BLS, and since the recession began in December 2007, over 1.9 million manufacturing jobs have been removed from the economy.

Among manufacturers, those making computer and electronic products shed 16,000 jobs (these are seasonally adjusted figures: Construction companies shed 79,000 jobs in June, and have cut 1.3 million employees since the recession began; those engaged in professional and business services (including those engaged in software development and IT consulting) cut 118,000 jobs last month in the States, and have cut 848,000 jobs since December 2007.

Taking a deeper look at the unfudged BLS data to get a sense of how IT-related sub-sectors of the US economy fared in terms of job cuts, computer and peripheral equipment makers cut 2,400 jobs in June, those making communications equipment cut 1,900 jobs, and those making semiconductors and electronic components removed 5,200 workers. Telecommunications companies cut 5,700 employees last month, but data processing, hosting, and related services firms held steady at 256,300 employees.

Companies engaged in computer systems design and related services actually saw employment rise by 1,600 people to just over 1.45 million employees in the raw data, but in the seasonally adjusted data the BLS reckons that 2,700 jobs were cut. This is why you always look at the raw data.

While it makes sense to not over-emphasize job cuts that are due to seasonal cycles and to do some fudging, I have a hard time believing that there is a seasonal uptick in the late spring and early summer for IT pros that you need to knock off the numbers. The elimination of 4,300 jobs in the seasonally adjusted figures put out by the BLS for computer nerds is perplexing.

Die Casting Job References. Upon making your resume, it is typical to add a list of names at the last part, which will serve as your die casting jobs references. You can also type it on a different sheet of paper which you can hand to your potential die casting employer upon request. What are job references, and why are they necessary?

Usually when a potential, die casting job, employer asks you for references, he or she already sees you as a potential employee, and wants to know further about you. Planning ahead and putting a list of names on your resume is a good idea, rather than thinking of a name who can talk about you just as your potential employer asks for one.

It is important to note as well that it is necessary to ask someone’s permission first before putting in his or her name as your die casting job reference. This is also ideal in that you can sound him or her off, to see if he or she is willing to talk about you in a positive way. If the person you ask seems hesitant, it might not be a good idea to list him or her as your reference. The best people to ask would be former professors, die casting employers, and co-workers. When you are new in the workforce, you can also ask people who are close to you such as former teachers, church ministers, and others who can serve as your die casting character references.

Lastly, don’t forget to update your references. Inform them on who will possibly call, and thank them when they provide your die casting jobs references. More tips can be found on Superjob4U.

Prove Yourself on a Diecasting Job Interview. College days have prepared you with theories and equipped you with activities that hone your talent and skills. It’s now time to show the world what you have got, so you are now on your feet to start job hunting. Spreading your well-prepared resume to the different die casting companies that you have scouted is what makes you busy for a start. But then, you have to get ready for a more significant hiring process that will make you land your dream job. Pull out your most professional outfit and gather those witty answers that you will use in die casting job interviews that you will later encounter.

Job interviews are your chances to prove that you have the quality that die casting interviewers are looking for. There are some simple things that you may consider during diecasting job interviews. Though simple as they may seem, they will surely increase your chances of getting hired. You can start it by searching for a bit of information about the die casting companies that you are interested in. Showing your interviewers that you are aware of what their company is all about will impress them and would help you think for some pointers on how you can contribute to their future success.

Job interviews may sometimes cause others’ knees to wobble, but that won’t do the trick. Remember that your diecasting interviewers have also been in the same situation that you are into at the present when they were just starting on their own career ladder. So breathe and relax to stay in focus to help your confidence to shine. Consider those die casting jobs interviews as a conversation (though on a bit formal tone) where you simply answer someone’s questions. Just bear in mind to be truthful with your answer and have fun! More Job Tips can be found on Superjobs4u.

As it turns out, the deconstruction of General Motors’s extended web of suppliers has been underway for months. With a bankruptcy filing, it’s likely to accelerate, costing thousands of workers their jobs and likely destroying dozens of firms.

Chris Norch, president of Denison Industries, employs 125 employees in a metal casting business founded in 1991. It supplies aluminum castings for the automotive, defense, aerospace, and commercial industries. He’s also president of the American Foundry Society, which represents about 3,000 metal casting firms, the majority of which are family owned and employ an average of 100 people or fewer.

He told the House Small Business Committee recently that GM and Chrysler, which already has filed for bankruptcy, owe their large and small suppliers about $10 billion for parts that have been delivered. GM has held off paying them for weeks. In bankruptcy, GM may not have to pay them at all.

In the past six months, 15 metal casting companies have closed down, and the trade association estimates that another 30 could close their doors over the next six to nine months.

Ron Overton, chief executive of Overton Industries, a company his father founded in 1968, has seen similar fallout among so-called second-tier suppliers. In his case, they make machine tools for companies that make auto parts. “In my 30 years in this industry, these times are by far the most dire for the automotive sector and particularly the thousands of small middle-market suppliers around the country,” he told the committee during a recent hearing.

His company is holding several million dollars in receivables from direct suppliers to GM and Chrysler and he’s worried about getting paid. Although the Obama administration has insured GM and Chrysler receivables to direct suppliers, companies like Overton have little recourse in the event of a GM bankruptcy.

“In the current environment, these accounts receivables remain open for a longer period of time than ever before,” he said. Some companies in the administration’s Supplier Support Program funded under the Troubled Assets Relief Program (TARP) are withholding payments for up to 180 days, even though they are receiving payments from GM and Chrysler in less than 60 days.

Because of the impact on cash flow, small middle-market auto suppliers say the doors are being slammed shut on credit. “The moment a lender or receivables insurance broker sees we are involved in the automotive industry, they immediately move us to a high-risk category, will not extend credit, or they will transfer us to a third-party lender,” said Overton. “Simply put, they believe we are not ‘bankable’ due to our auto industry work.”