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Modest recovery will pick up: Bernanke

By Nicole Bowling Medill News Service — Federal Reserve Chairman Ben Bernanke dampened concerns about inflation and expressed optimism about further improvements in employment during his first-ever press conference Wednesday. Many factors contributing to the economic slowdown are “transitory,” Bernanke told reporters, echoing the Fed’s April statement released earlier in the day. “While the recovery […]

Businesses started out of necessity might not generate jobs: Kauffman report

 The Great Recession produced more entrepreneurs than at any time during the past 15 years, but most haven’t yet generated jobs, according to a new study by the Kansas City, Mo.-based Kauffman Foundation. The foundation’s Index of Entrepreneurial Activity suggests about 34 out of 10,000 adults — or about 565,000 people — started businesses each month […]

U.S. Chamber: Strict business regulations constrict job growth in Illinois

 A new report by the U.S. Chamber of Commerce suggests states with more business regulations might be constricting employment growth and business formation. By reducing labor and employment regulation, states could generate about 750,000 new jobs nationwide and 50,000 new firms, the report concludes. The report’s state-by-state review gives Illinois a “poor” rating, due to […]

Small businesses add workers, hours

The Intuit Small Business Employment Index indicates small businesses created about 50,000 jobs in February, while slightly increasing the average number of employee hours worked to 107.6 hours or about 24.8 hours per week, Crain’s Enterprise City blog reported today.  Small businesses have added about 800,000 jobs since the growth trend began in October 2009, […]

A longer view on innovation shows growth

Increased efficiency is often blamed for job loss, yet the money saved from innovations can fund future economic growth, a new study by the McKinsey Global Institute reported. “Companies can pass on those savings to their customers in the form of lower prices, leaving households and businesses with more money to spend elsewhere. They can […]