QUOTE OF THE DAY
Chicago Tribune: Alderman’s sister named CPS principal despite failing eligibility test
A powerful Chicago alderman’s sister who failed Chicago Public Schools’ selection test for principals twice will become the new principal at Gray Elementary thanks to changes in the district’s hiring policy made in July.
Catherine Sugrue has been an assistant principal at the Portage Park school for a year. She is the sister of Ald. Patrick O’Connor, 40th, Mayor Rahm Emanuel’s City Council floor leader.
Gray’s Local School Council selected Sugrue as principal in the spring. The district did not allow the promotion to go through because Sugrue had failed a principal eligibility assessment twice in the last 12 months, making her ineligible for the position. Officials said she could retake the assessment in three years.
Chicago Sun Times: Open door to third parties on ballot
Pens are not always mightier than the sword.
In Illinois, volunteers have collected tens of thousands of signatures on petitions to get candidates representing “non-established” political parties on the November ballot.
But because of Illinois’ onerous requirements for anyone who isn’t running as a Democrat or a Republican, most of those signatures won’t matter. That’s a problem the state needs to fix.
Crain’s: State universities at risk from Illinois budget woes, S&P warns
Standard & Poor’s Ratings Services warned today that Illinois public universities are threatened by the state’s pension liabilities and other budget pressures, which could reduce their financial support from the state and ability to borrow.
“Illinois provides more support to its public universities on a percentage basis than do many other states,” the Wall Street credit rating agency noted in a report today.
While the amount of financial support varies, “in every case, decisions about post-employment benefits and other state support could dig into university budgets.”
S&P’s report followed the rating agency’s decision on July 23 to change its outlook on the state’s credit back to negative. The state’s outlook had been raised to developing last year after enactment of pension reform, a seldom used step between negative and stable.
ABC News: US Job Growth Eases but Tops 200K for a 6th Month
A sixth straight month of solid 200,000-plus job growth in July reinforced growing evidence that the U.S. economy is accelerating after five years of sluggish expansion.
Employers added 209,000 jobs last month. Though that was fewer than in the previous three months, the economy has now produced an average 244,000 jobs a month since February — the best six-month string in eight years.
At the same time, most economists don’t think the pace of job growth is enough to cause the Federal Reserve to speed up its timetable for raising interest rates. Most still think the Fed will start raising rates to ward off inflation around mid-2015.
Wall Street Journal: Why So Few People Are “Marginally Attached” to the Labor Force
Economists attempting to dissect the U.S. labor market in recent years have been perplexed by the number of people leaving the labor force entirely. In a little over a decade, the number of people either working or actively looking for work has declined to 62.8% from 67.3%. The decline started in 2000 and has accelerated since the recession began in 2007. The question for economists: will these people return if the economy strengthens?
Recently the White House Council of Economic Advisers weighed in on this debate.They argued that slightly more than half of the decline of the labor force is due to the aging of the population. And aging clearly has a role. More and more of the Baby Boomer generation, born after World War II, are reaching their 60s (the oldest Boomers are nearly 70) and retiring.
But many economists believe the decline in labor force participation is about more than retirements. Many workers, they say, are simply giving up on the labor market in frustration because the economy has been weak for so long.
Wall Street Journal: Hiring Settles Into Steady Gains
U.S. businesses added jobs at a sturdy pace last month, extending the most robust stretch of hiring since before the recession.
The question now: Is this the beginning of a breakout in hiring that will lift wage growth and finally bring unemployment down to levels consistent with a healthy economy?
all, employers ranging from retail stores and professional offices to factories and construction sites last month added a total of 209,000 jobs, when adjusted for seasonal factors, the Labor Department said Friday.
CARTOON OF THE DAY
