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Entries in Jobs (205)

Tuesday
May102011

General Motors Invests $2 Billion in Plant Expansions, Upgrades

Bill Pugliano/Getty Images(TOLEDO, Ohio) -- General Motors announced Tuesday a $2 billion expansion of its domestic auto making operations that will result in the creation or retention of 4,000 jobs spread across 17 facilities in eight states.

GM Chairman and CEO Dan Akerson revealed the plans at a transmission plant in Toledo, Ohio. He was not specific about where the new jobs would be added, but local union officials say the Toledo site would add 250-400 workers.

Most of the 4,000 jobs -- as many as 3,000 -- will be new hires while the rest will be the preservation of workers who faced layoffs, a company spokesman said. "We are doing this because we are confident about demand for our vehicles and the economy," Akerson said in a statement. "This new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009."

The announcement was another positive marker on GM's road to recovery since emerging from bankruptcy almost two years ago. Its April sales figures were up 26 percent from last year's and GM's first quarter earnings tripled those from 2010.

The announcement not only shows off GM's resurgent production of cars but its production of jobs, perhaps a far more meaningful barometer to taxpayers who helped rescue the company with a $49.5 billion bailout. While in bankruptcy, the company closed a dozen factories.  

Copyright 2011 ABC News Radio

Tuesday
May102011

General Motors to Announce Hiring Blitz

Bill Pugliano/Getty Images(DETROIT) -- General Motors is launching a hiring blitz and updating plants in eight states. Jobs will include up to 2,000 new hires at the Chevy Volt Plant in Detroit-Hamtramck, and hiring could start in late summer and extend at least through 2012.

The automaker is expected to announce plans to create or retain more than 4,000 jobs at 17 facilities over the next two years.

The announcement will be made Tuesday at the Toledo, Ohio transmission plant, where GM will unveil plans for an eight-speed fuel-efficient automatic transmission.

Copyright 2011 ABC News Radio

Friday
May062011

Dow Closes on a High Note to End the Week

Comstock Images/Thinkstock(NEW YORK) -- The Dow closed up 55 points on Friday afternoon, with the Nasdaq adding 13 and the S&P gaining five for the week.

This comes following reports that during the month of April private sector employers added over 260,000 jobs, and signs that gas prices have finally began heading in the downward direction, and forecasted to be below $4 per gallon by Memorial Day.

Despite the increase in payrolls in April, the nation’s unemployment rate jumped from 8.8 to 9 percent

Also, following months of steady price increases, from $75 in May 2010 to more than $113 at the end of April, oil has dropped to $97 a barrel. That is its second biggest drop in history.

Copyright 2011 ABC News Radio

Friday
May062011

Obama Highlights Indiana Business as Example of Recovery

ABC News(INDIANAPOLIS) -- President Obama traveled to Indianapolis on Friday to discuss his energy policy and tout the latest jobs report, released Friday.

The White House chose Allison Technology located in a Red state that Obama won in 2008 because the business employs 2,500 workers who build hybrid vehicle technology and manufacture fully automatic transmission for medium and heavy-duty commercial vehicles.

Allison is doing well, adding 50 jobs last month and planning to create 200 or more jobs by 2013.  On a background conference call with reports, administration officials described Allison as "a great success story."  The company received $62.8 million in a cost share grant from stimulus funds.

Obama told the workers who gathered to hear him after a brief tour what they are doing is important.

"This is where the American economy is rebuilding, where we are regaining our footing," he said.  "This economic momentum that’s taking place here at Allison is taking place all over the country."

Obama argued that new jobs will be created by places like Allison though new innovations like the technology used in trucks powered by Allison. The president also took the opportunity to make his first comments on the April jobs numbers that showed 268,000 private sector jobs added.

"That means over the last 14 months, a little over a year, we’ve added more than 2 million jobs in the private sector."

Obama said the country has made this progress despite serious headwinds caused by high gas prices and the earthquake in Japan.

Copyright 2011 ABC News Radio

Friday
May062011

Payrolls Add 244,000 Jobs in April; Unemployment Back at 9%

Stockbyte/Thinkstock(WASHINGTON) -- The nation’s employers increased payrolls by 244,000 during the month of April, beating economists’ expectations, a government report showed Friday.

The private sector, which factors out government layoffs and hiring, saw 268,000 workers added to payrolls -- the best monthly jobs growth from the private sector since February 2006.

The nation’s unemployment rate jumped, however, from 8.8 to 9 percent.

"The reason you get that," said economist Hugh Johnson, "is even though you get a very strong increase in the number of jobs, you get a much bigger increase in the labor force," or the number of those who are actively pursuing work.

Copyright 2011 ABC News Radio

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