According to the documents released by administrators of the University of Georgia (UGA), the university is planning to cut around 130 jobs from the organization. The sole objective behind this drastic step is to meet the Governor Nathan Deal's directive. The directive states that, there would be cuts in the budget of the state of Georgia by about 3% in the present as well as upcoming year. President of the university Michael Adams said that, this sort of cut is the most severe one, than those undergone in past few years and thus is going to be a tough one to adopt with.Each and every minute issue would be magnified and evaluated to look forward, as in the budget being cut by 3%.
Per capita income is often used to measure the wealth of a nation’s population, generally in comparison to others. Per capita income is the amount received by each individual, of the annual income of the country. It is reported in units of currency per year and is calculated by dividing the total personal income by the midyear population.
The USA has one of the highest per capita income figures and there are two common ways of presenting per capita income data. The PPP method stands for Purchasing Power Parity and adjusts for the cost of living in each country. The Atlas method is the second method which adjusts the figures for currency values and inflation according to different schemes.
United States President Barack Obama served a noticed that he would end tax breaks to American firms that outsource jobs abroad. He mentioned that the step was to restore a sense of fairness and balance to the US tax code by ending the tax breaks for companies that outsource jobs overseas.
The move spells bad news for Indian IT and BPO Sectors but immediate reactions from Indian firms suggest that there is little cause for worry. Around a thousand firms which have outsourced jobs are likely to be affected by the move to scrap a provision in the tax laws that allow them to pay taxes on profits from outsourced jobs. Obama’s fellow democrats had been asking for an abolition of this provision for a long time to stop encouraging American companies to send jobs overseas.
In the recent economic downturn many jobs were lost and with the unemployment rate just below 10% the situation is getting worse. However, there are companies which were loyal to their employees even in these bad times. Shocking, but true! There are 6 companies that never had a layoff as of mid-January.
SAS- this software solutions company has a turnover of as low as 2% and never had layoffs due to economic downturn. The company has avoided layoffs by instituting hiring freezes in all departments except R&D and sales. The company cut back on travel expenses and others by conducting meetings via video conferencing.
The United States of America is experiencing jobs crisis and nearly 16 million Americans are out of work. The number of people applying for unemployment benefits has risen and many others have to take care of themselves with part time jobs. The national crisis demands a clear plan which would create job opportunities for at least 4.6 million people in one year.
The Economic Policy Institute details some of the structural economic problems that include income inequality, the disparity between productivity and pay and unstable financial sector growth. The job crisis needs immediate cure and there is the need for a comprehensive plan to create jobs.