Jobless rate increased again in April. The Illinois Department of Employment Security reported this week that the State’s unemployment rate had risen marginally by 0.1% in April, from 6.5% to 6.6%. With continued recession-level joblessness in Illinois, the Prairie State continues to support fewer jobs than the number of people who were working here more than 15 years ago in September 2000. Furthermore, Illinois unemployment numbers have increased 0.7% over the most recently-measured six-month period, from 5.9% in October 2015 to 6.6% in April 2016.
Illinois added a net of 5,400 new jobs to its paycheck workforce in April 2016, a marginal number that increased the total number of available Illinois jobs by less than 0.1%. Continued strength in professional and business services (up 7,600 jobs in April 2016) was held back by net weakness in other sectors of the Illinois economy, including construction, financial activities, and other services. Illinois is one of only three states that have not regained the employment levels enjoyed during the 2000s.
Juwana Zanayed of Naperville has been named 1st Vice President/Director of Treasury Management at Old Second Bank, operating from the downtown Aurora location. She will be responsible for directing treasury management sales and operations including deposit generation and cross-selling of treasury management products. Additionally, Zanayed will promote the sales and service culture at Old Second and help develop policy efficiencies to enhance the bank’s commercial portfolio.
Prior to joining Old Second, Zanayed served as VP/Director of Treasury Management for TCF Financial Bank and as First Vice President of Commercial Banking with MB Financial Bank/Oak Brook Bank.
Zanayed earned a Bachelor of Arts degree in finance, corporate communications, and economics from Dominican University in Chicago. In the community, she is part of the Association Forum, Association for Financial Professionals, and the American Bankers Association.
Today, the Administration released its final overtime regulation increasing the salary threshold below which employees must be paid overtime for working more than 40 hours a week from $23,660 annually to $47,476 annually. This threshold will take effect on December 1, 2016, and it will increase every three years. Click here and here for additional background information. The Protecting Workplace Advancement and Opportunity Act (S. 2707 and H.R. 4773) would keep the regulation from taking effect and require the Department of Labor to perform a better analysis on the impact to small businesses, nonprofits, regional economies, and local governments. We encourage you to reach out to Congress and ask them to cosponsor S. 2707 and H.R. 4773.
The Administration’s proposed changes to overtime regulations pose a serious threat to employers as well as their currently salaried workers.
The proposed regulation would raise the salary threshold under which employees would have to be paid overtime for hours worked beyond 40 per week from the current annual level of $23,660 to $47,476. Such a dramatic increase will force employers to decide whether to reclassify millions of employees to nonexempt status or increase their salaries to keep them exempt.
The Protecting Workplace Advancement and Opportunity Act would prevent the Department of Labor’s disastrous overtime regulation from taking effect and directs the Secretary of Labor to conduct a more detailed economic analysis to determine the impact on an array of employers before proposing a new rule.
With your help, we can build the case that this proposed rule will not boost employees’ income, but instead will force employers to reduce employees’ flexibility, benefits, and growth opportunities.
The Christkindlmarket Naperville will be open on select dates from November 25 to December 24.
Experience a traditional German holiday season market with all of the sights, sounds and magic as well as delicious smells and treats, wonderful handmade ornaments and gifts.
The Christkindlmarket Naperville provides space for a vast array of vendors from Germany, other parts of Europe and around the world to showcase their products. Traditional wooden huts will be filled with a wonderland of one-of-a-kind gifts including hand-made holiday ornaments, woodcarvings, and seasonal wares harkening back to the original Christkindlesmarkt in Nuremburg, Germany which began in 1545. The air at the Christkindlmarket Naperville at Naper Settlement will fill the senses with aromas of German delicacies such as sausages and potato pancakes and sweet treats like Stollen, strudel and roasted nuts that are sure to delight visitors of all ages.
The Christkindlmarket Naperville will boast a large festival tent for additional seating and entertainment. Visitors can sit, toast and enjoy refreshing imported German beers or warm up with a cup of Glühwein (hot spiced wine) served in a unique collectable souvenir mug. Visitors will be delighted by live performances as singers, dancers and musicians will spread the holiday cheer. The Christkind, a fairy-like being and namesake of the market, will visit every Sunday to welcome guests.