The Transit Equity Network has just published a study called More Transit - More Jobs in which it suggests switching 50% of highway funding to transit in 20 metropolitan areas to create an additional 180,000 jobs over the next five years. Their basic thesis is that each kajillion in spending can produce more jobs in transit than in highways. read more »
Much has been written in recent years about the costs of congestion, with ground breaking research by academics such as Prud'homme & Chang-Wong and Hartgen & Fields showing that the more jobs that can be accessed in a particular period of time, the greater the economic output of a metropolitan area. read more »
According to the Bureau of Labor Statistics, there were 290,000 more jobs in the US this month than there were last month. Twenty percent of those jobs were added by the federal government. While the federal government added 69,000 new jobs last month, every other level of government – including the post office – cut an average of 2,250 jobs. State governments were hardest hit last month, cutting 5,000 jobs. read more »
Barack Obama’s home state is in the news but not for positive reasons. Fitch downgraded Illinois debt. At the end of March, according to the Bond Buyer:
Fitch Ratings late Monday downgraded Illinois’ general obligation rating one notch to A-minus and warned of possible further action by leaving the state’s credit on negative watch ahead of $1.3 billion of short- and long-term GO issuance in three deals over the coming weeks. read more »
Mark Hovind over at Jobbait.com released his monthly job market report, and this month he's expanded it significantly with sector-level data by state and metropolitan area.
Mark offers the numbers in an easily digestible format organized by state in color coded tables. It's a great way to get a feel for what's happening in your region or nationally.
Mark hopes this will help identify sectors with job prospects, even in regions where overall employment is declining. read more »