Word: downturns
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...about 36 million visitors in 2009. In the past year, Las Vegas has had more than $13 billion of new business development as well as major projects that are set to open in the next few months. Like many cities, Las Vegas has felt the impact of the economic downturn. However, investors still have confidence in Las Vegas, and the long-term future of our city is bright. Oscar B. Goodman, Mayor, LAS VEGAS...
...social programs are expensive for a country that depends for survival largely on remittances from citizens who work abroad, from relatives and friends in the United States. El Salvador's local economy has been hit particularly hard in recent months due to the global economic downturn and slumping U.S. economy, says Larry Birns, director of the Council on Hemispheric Affairs, creating "a society unable to fulfill expectations of a large portion of the population." Says Birns, "El Salvador simply can't afford a full-scale war on crime and gangs." And so the Maras will continue to grow and export...
...just for the money, but also because they relish the opportunity to contribute to society later in life. Meanwhile, the greenhorns and the guys are the ones feeling the hurt. The study notes that younger workers, who are returning to campus to wait out the downturn (40% of respondents ages 16 to 24 say they can't find work), account for the lowest share of the U.S. labor force since 1948. (Read "Why College Seniors Without Jobs Are Better Off than Most...
...labor force participation rate of women has essentially flattened out. It now stands at 59%, slightly below the 60% peak it reached in 2000 at the end of a period of robust economic growth, and about 13 percentage points below the current rate for men ... The current economic downturn has hit men harder than women, with men suffering two-thirds of all recession-related job losses...
...Lowdown: For the most part, the study hits the same notes we've been hearing throughout the recession: men have been feeling the employment crunch worse than women; students are riding out the downturn by staying in (or returning to) school; and old folks are deferring retirement, making it harder for those under 25 to snag a real job. But Pew carries the usual tropes a step further, taking a valuable, in-depth look at gender discrepancies that may shed some light on why women are weathering the storm and men are mourning their lost jobs...