The jobs market might be getting better, but will the U.S. unemployment rate come down much this year? John Challenger, CEO of the employment firm Challenger Gray & Christmas Inc., says “as the economy gets better more people who’ve not been looking flood into the job market.”
Because the jobless number is the percentage of people who are actively looking, “the unemployment rate may not drop too much more for a period of time,” he told ABC News Radio. The Labor Department releases the February jobs report this morning. More economists expect about 200,000 new jobs were created. If they are right, it’s more evidence of an improving jobs picture.
Even if Greece isn’t going bust, it might seem that way to private holders of Greek government debt. The vast majority of them have been persuaded to slash the value of their bond holdings, and participate in a debt swap. After weeks of intense negotiations, Greece’s Finance Ministry says nearly 86 percent of private investors have signed up to the deal. This should pave the way for Greece’s second international bailout. The agreement cuts its debt by about $140 billion.
Thanks for your help … Here’s a bucket of money! Three top executives of the failed money firm MF Global could get hundreds of thousands of dollars each in bonuses. The Wall Street Journal reports the expected payments might come as CEO, finance chief and general counsel at MF Global help the trustee untangle the firm’s assets and make payouts to creditors. Louis Freeh, the former FBI director who is unwinding what’s left of MF Global, is expected to ask a bankruptcy court judge to approve performance-related payouts for the top executives.
Citigroup says it gave CEO Vikram Pandit $14.9 million in total compensation for 2011. Bloomberg News says that includes his first bonus since Citi’s near collapse during the financial crisis. Citigroup shares lost more than 40 percent of their value last year.