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MONEY BRIEFS.

COLUMN: MONEY BRIEFS

Jobless rates rise

WORCESTER - The Worcester and Leominster-Fitchburg-Gardner labor market areas were among 17 labor market areas across Massachusetts where seasonally unadjusted jobless rates rose in July compared with the same period a year ago, the Executive Office of Labor and Workforce Development reported yesterday.

Jobless rates were lower in two areas and unchanged in three. The state has 22 labor areas.

The unadjusted rate in the Worcester area labor market, which includes parts of Connecticut, was 10.1 percent, up from 9.6 percent in June. A year ago, the seasonally unadjusted unemployment rate was 9.6 percent. The unadjusted rate in the Leominster-Fitchburg-Gardner labor market area was 12.1 percent, up from 11.4 percent in June. A year ago, the seasonally unadjusted rate was 11.3 percent.

In both labor market areas of Central Massachusetts, the size of the labor force - people working and looking for work - rose from June but was lower than in July 2009. Fewer people were employed and more unemployed in July compared with June and July a year ago.

Statewide, the the July seasonally unadjusted jobless rate was 9.1 percent in July, up from 8.8 percent in June and 8.8 percent in July 2009.

Labor areas where the jobless rates fell were Haverhill-North Andover-Amesbury and Providence-Fall River-Warwick, the state reported.

Selling presentation

STURBRIDGE - The Central Mass. South Chamber of Commerce will sponsor a presentation by Dick Vaughn, chief operating officer of WESO-AM, 970 on selling in a difficult time. The program will run from 3:30 to 5 p.m. Sept. 8 at Rehabilitative Resources Inc.'s administrative and training offices, 1 Picker Road.

The workshop is the last in a four-session series devoted to marketing. The cost for chamber members is $25, and $35 for nonmembers. There is a $10 student rate with a valid school identification. For more information or reservations, call the chamber at (508) 347-2761 or e-mail Paulette at info@cmschamber.org. For information on student scholarships, call Melissa White at (508) 347-8181, ext.109.

Workscape acquired

MARLBORO - Automatic Data Processing Inc. said yesterday it has completed its acquisition of Workscape Inc., a deal that brings together businesses that manage human resources, benefits and other activities for organizations.

The value of the transaction was not disclosed.

Workscape is a privately held company with about 400 employees. ADP, based in Roseland, N.J., has about 570,000 clients and about $9 billion in annual revenue. ADP reported the acquisition in July.

AMSC gets order

DEVENS -American Superconductor Corp., a power technologies company, said that it has received an initial order for 17 wind turbine electrical control systems from Inox Wind Ltd., part of India's Inox Group of Cos.

Terms of the deal were not disclosed. The electrical control systems will be deployed in 2-megawatt induction wind turbines licensed from American Superconductor's wholly-owned AMSC Windtec subsidiary under a contract announced in May 2009.

The license provides Inox with the right to manufacture and sell the wind turbines globally. Inox recently erected and commissioned its first 2 MW wind turbine and has already begun production.

Raytheon contract

WALTHAM - Raytheon Co. won a $46.9 million Navy contract related to production of a transmitter group, fire-control system and engineering for the shipboard Aegis weapons system.

Most of the work will be done in Andover, with some performed in Sudbury. It's expected to be completed by February 2014.

The contract announced Monday was handled by the Naval Sea Systems Command. Some of the work will modify a previously awarded contract.

From local and wire service reports
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Title Annotation:MONEY
Publication:Telegram & Gazette (Worcester, MA)
Date:Aug 25, 2010
Words:599
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