Is US Job Market Gradually Recovering?

US economy seems to be having a slow recovery. Over the last seven years, the number of job openings has increased and now it is at its peak. The labor market is hopeful that the opportunities lost due to the recession could be rediscovered.

According to data from the Labor Department’s survey on job openings and job labor turnover, the rate of job openings was 2.9% in March and it reached 3.1% in April. The total number of job opening was 4.5 million in the month of April. The percentage was worst during the recession.

Job Market

From 2010, the economy started to get in shape. The rate of layoffs began to decline from the 2nd half of 2009 and by mid-2010, it has managed to recover itself to the level of the pre-recession period.

But although the rate of layoffs has declined, the pace of hiring wasn’t improving. This was chiefly because the employment generating sectors such as heavy industry and real estate were badly hit during the recession. Unemployment continuing for a long-term could cause difficulty in getting skilled labors.

Before the recession, Americans used to switch jobs almost at the drop of the hat. This is a sign of a healthy economy as in a strong economy, hiring and voluntary job separation are bound to soar. Thus with an increased rate of employment, US may get back on track soon.

But not everything is rosy about the job market. A leading economist of PNC Financial Services called Stuart Hoffman said, “The labor market recovery has been disappointing…even with the new peak, there is still a great deal of slack.”

He pointed out that approximately 1.49 trillion construction jobs are missing. The number of industrial workers has shrunk to 1.64 million. Recession apart, the introduction of new technologies is also a reason behind job cut.

The economy, therefore, is improving but the improvement has failed to keep pace with the expansion of US population. Another finding was the contribution of low-paying industries in taking the recovery forward. The median household income was found $52959 which is $3304 less than the pre-recession period.

To explain this phenomenon, John Silvia of Wells Fargo said, “We’ve got a different labor market with a stronger emphasis on part-time jobs…the traditional labor market is no longer relevant.”

So even though the job market in the US is better than the post-recession period, until we see growth in the manufacturing sector and full-time job creation with high retention rate, we can’t say the economy has completely recovered.


Archer Daniels Midland Acquires Wild Flavors for Whopping $3 Billion

Archer Daniels Midland, the agribusiness giant is eyeing at Switzerland based private firm Wild Flavors. Wild Flavors is one of the largest suppliers of the food and beverage industry. ADM’s asking price to acquire Wild Flavor is $3.13 billion or 2.3 billion euros. It will be the all-cash deal.

ADM is one of the largest food processors and grain traders in the world. The deal was announced by the company on Monday. ADM announced a new business unit called Wild Flavors and Specialty Ingredients. The deal is expected to be completed by the end of the year.

Archer Daniels Midland

With the acquisition of Wild Flavors, ADM steps into the flavors market. Wild Flavors specializes in natural ingredients. The decision of the acquisition was taken after observing increasing interest from consumers for food items that are made of natural ingredients.

Reuters was informed by sources that ADM is one of the private equity and strategic bidders for Wild Flavors and expected core earning for 2014 (EBITDA) of nearly 140 million Euros. The transaction includes total debt of 100 million Euros and values Wild Flavors 16 times more than its core earnings (EBITDA). With the acquisition, ADM wants to achieve 100 million Euros cost saving by the thirds year of the procurement.

Wild Flavors has its headquarter in Zug. The company’s management offices are in Heidelberg Eppelheim, Wild Flavors is the sixth largest flavor provider in the world. 65% stake of the company is owned by Hans Peter Wild, who is the son founder of Rudolf Wild. A private equity firm called KKR holds another 35% stake. Wild Flavor owns a drink making company which makes the drink Capri-Sun. The present deal, however, doesn’t include that company.

Experts believe ADM will now have access to a range of flavors, seasonings, colors and fruits because Wild Flavors has to advertise new stocks of summer fruit range on its website. As a result, the processed food and drinks industry could get a new boost.

Wild Flavors holds a very strong position across Europe. It is one of the esteemed European companies, reputed for processing foods and drinks from natural sources. With ADM investing in Wild, ADM’s business in North America could flourish.


EU Bank Watchdog to Shun Bitcoins Until New Rules Apply

European Commission announced rules will be imposed on virtual currencies like Bitcoin. The Bloc’s banking watchdog on Friday said European Union banks should wait for the regulatory safeguards to be in the place and then offer customer accounts in virtual currencies.

Virtual currencies are different from regular currencies. They are not backed by a central bank or by a government. Customer bitcoins replace a certain currency in which the money is kept.


There is the total of 200 computer-generated currencies and Bitcoin is the best known among them. Its circulation began in 2009. Currently, it is being accepted by a number of merchants. Bitcoin has come under scrutiny after Mt. Gox, a Tokyo based exchange which was handling 70% of Bitcoin transactions in 2013 went bankrupt after making a loss of $650 million worth of customer Bitcoin.

The European Banking Authority (EBA) said in a statement, “This immediate response will ‘shield’ regulated financial services from virtual currency schemes and will mitigate those risks that arise from the interaction between virtual currency schemes and regulated financial service.” EBA took the decision because there’s no global initiative to shun the Bitcoin.

According to the banking watchdog, several threats are associated with the use of Bitcoins. US authorities confiscated 144000 bitcoins in October 2013 when they raided an internet black market bazaar called Silk Road. The site was using bitcoins for drug trafficking. Last week, some of the recovered bitcoins were auctioned.

The former CEO of Brightcove Jeremy Allaire said the regulation of bitcoins should be done in the same way other payment gateways like PayPal is done. Staunch initiatives should be taken to safeguard consumer’s interest. He also emphasized the importance of updating the European Union laws that regulate the use of bitcoins.

Simon Dixon, a director of Digital Currency Association in the UK said the announcement made by EBA is ‘not very helpful’. He said in a statement, “Banks are not engaging with digital currencies yet as it is a person-to-person network that operates outside of banking.”

However, even end consumer has also lost trust in bitcoins. Since the last October raid, the price of bitcoins dropped to $629.94.


US Employment Report Helps Dollar to Gain While Asian Market Floats Around Three-Year High

Asian stocks levitate around a three-year high on Thursday because of euro-area monetary policy decisions and job data indicating robust employment which kindles the hope that US nonfarm payrolls report would bolster investor’s confidence by proving the economy is getting up to the speed.

Morgan Stanley Capital International’s broadest index of Asia-Pacific stocks outside Japan stood at 499.88 on Thursday, which was a slight change from the three-year high of 500.26. The index reached at the three-year peak on Wednesday.

US Stock Market

The US dollar made gains and Australian dollar slumped. The Australian dollar is now trading at 0.94 US dollar. The BDS index reported 0.1% by 7.16 a.m. in London. The Euro Stoxx 50 index and S&P 500 index reported little change. The precious metal stock dropped as Platinum fell from 9 months high and gold fell 0.3%.

For spread betters, the European market opened with a mix. The market forecasted Britain’s FTSE to open as high as 0.1% and Germany’s DAX to be 0.1% lower. The prediction for CAX of France.FCHI was effectively flat. The expectations regarding US economy’s momentum gain began after the payrolls processor Automatic Data Processing said private-sector recruitment in the US has reached to 1 year high. At the beginning of 2014, US economy was in a sluggish condition. Analysts are hoping the current forecasts will help the economy to boost.

A market strategist said, “The market is expecting to see another print north of 200,000 and no doubt sentiment will be riding high following this ADP reading.” A senior currency strategist called Sean Callow said, “If the ADP survey is indeed a harbinger of another strong payrolls report, then the U.S. dollar should enjoy a fresh wave of demand and knock Aussie towards 93 cents.”

As Asian equities are performing better, Tokyo’s Nikkei .N225 gained 0.4%. A senior technical analyst at Daiwa Securities of Tokyo said, “If the data shows that the U.S. economy is in good health, Japanese shares in the auto and technology sector will likely be bought.”

Euro didn’t change much against the dollar. Euro is currently trading at $1.3648, a drop of 0.15% from a day earlier.


Travel Insurance – Don’t Travel Without Protection

In this fast-paced life, many crave for a holiday to steal some moments and make sweet memories with their loved ones. We often plan for these holidays with much vigor and excitement. However, all the fun may be ruined pretty quickly with an unwanted accident. All of a sudden this much needed quick break literally turns into a nightmare with nothing left but the time to recover from the accident.

Travel insurance Belleville Ontario

It is good to have some kind of insurance coverage, some kind of protection when you are looking to have some fun. You need to consider travel insurance for these following reasons:


If it is a case of an annual vacation or a business trip or even a special event then single trip travel insurance could be your answer. This is so because it is comparatively cheap and is very convenient for the people involved. You can have an insurance that covers the trip from beginning to the very end.


Insurance is there for all unforeseen eventualities, like accidents or a fall on the trip. The insurance coverage works in the background to keep you prepared in the worst case. Single trip travel insurance can cover damage, cancellations, theft of private property, in addition to the medical expenses, if you are injured during the trip.

No insurance, more problems:

Travel insurance allows the medical bills to be taken care of. As a result, the stress of going on a vacation is quickly defused. Having no insurance in a medical scenario means that one is going to be dealing directly with hospital bills and overwhelming prices, in addition to the disappointment and loss of flying home early. All in all, getting insurance means that the extra pressure is kicked off to allow the client to be a lot more centred and calm even if the time warrants urgent action.


Buying the suitable insurance coverage can come with additional advantages as part of the insurance terms for the person involved. The terms will vary with different types of travel insurance coverage. There is the potential to upgrade for sports if you are looking for a fit vacation. It means that whatever situation you encounter you will be always prepared and be one step ahead. After all, the very last thing that anyone needs is to remember their vacation for all the wrong reasons just because they did not have an adequate policy of travel insurance.


Due to the increase in the online presence of the insurance providers, there are several comparison websites that may help people to assess the most effective package for them while enjoying the most on a family vacation. The money spent on this insurance coverage may perhaps outweigh the price of choosing a vacation without travel insurance.

Travelling without any kind of protection is too risky especially if your family is with you. If you want fun and exactly nothing to worry about then travel insurance is definitely your answer.