Tuesday, October 11, 2011

Unstoppable Force, Meet Immovable Object

Unstoppable force
NEW YORK (CNNMoney) -- Millions of unemployed Americans are waiting for Congress to do something other than trade barbs over their job creation plans.

If lawmakers don’t act soon, the jobless see their unemployment checks start to disappear come January.

More than 6 million Americans are set to lose federal unemployment benefits in 2012, with 1.8 million running out in January alone, according to new figures from the National Employment Law Project.

… meet immovable object

The onset of what has been described by the Bank of England governor Sir Mervyn King as “the most serious financial crisis” in history has failed to dent expectations for bonuses in the City. Nine out of 10 finance professionals expect to receive an annual handout again this year.

[…]

Even so, expectations for bonuses remain among the staff surveyed by City jobs group eFinancialCareers.

James Bennett, a managing director of the group, said: “External observers may be shocked by the confidence being expressed by bankers ahead of the bonus season. However, the pay-for-performance culture is very much ingrained in the financial psyche, and even in times of market turmoil, financial institutions need to take care of their best talent in order to retain them.”

[…]

They cited “personal performance” as the most likely reason for their bonus expectations, followed by a change of employment or the performance of their company.

1 comment:

Marcova said...

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Employment Law