Word: sectoral
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...Harf said that although this nationwide increase may be because of the economic crisis, “it is difficult to quantify how much it affects our hiring.” The Office of Career Services Web site states that out of 61 percent of students entering the employment sector after graduating in 2008, 2 percent took jobs in government and 1 percent joined the military. In 2008, the CIA hosted five recruitment events at Harvard, including career fairs, conferences and job fairs. Only six events were held for the entire Boston area in the same year. In total...
...close a widening projected $6 million budget deficit for the next fiscal year in light of the economic recession, according to state lawmakers. State Representative Charles Murphy and Secretary of Administration and Finance Leslie Kirwan stressed the need for budget cuts and budgetary redistribution, particularly in the health care sector, to ease economic strain in a panel discussion at the Kennedy School of Government last night. The panel also included Kennedy School Senior Associate Dean and Lecturer in Public Policy Peter B. Zimmerman. Murphy and Kirwan, who both play large roles in determining the state budget, emphasized that the recession...
...that Germany's export-dependent economy will contract by a record 7% this year. And the latest data from the European Central Bank show that despite the stimulus packages and bailouts across Europe, the region's banks still are not lending money. The volume of lending to the private sector in the eurozone, the 16 countries that use the common European currency, dropped 0.1% in February from the month before and lending to businesses also slipped 0.1%, the ECB reported...
...Federation of German Banks, which represents the main private-sector banks, has proposed something along these lines already. Rather than calling it a bad bank the banks call it a "mobilization fund." Each bank would park its toxic assets in an account with the government. This way the assets would be off the banks' books but each security would still be associated with its original owner rather than pooled together. "The mobilization fund is not about burdening the taxpayer with all the risks," Klaus-Peter Müller, head of the banking federation, told reporters...
...Certainly, tough times call for tough measures, and, with layoffs a common occurrence in the private sector, it is unreasonable for the public sector to pass completely unspared. The problem is the manner in which teachers are laid off—as dictated by the California Education Code, teachers are fired based on seniority, so that the last hired are the first to go. This system of indiscriminately cutting from the bottom up means that schools are likely to lose many of their bright, young, and energetic teachers, to the detriment of their students...