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Keyword: jobs

Brevity: Headers | « Text »
  • Low gas prices signal economic downturn elsewhere

    02/08/2016 10:41:41 PM PST · by george76 · 38 replies
    WLS-TV ^ | February 08, 2016 | Laura Thoren
    Gas prices in Chicago are still falling, but the price at the pump is having a negative impact on the economy. ... as the cost to fill up your tank goes down, could this also be a sign -- the economy is tanking? Commodities trader Scott Shellady thinks so. "It's bad for everybody. We are going to lose one-fifth of the jobs we created in 2008," said Shellady. And he doesn't expect a market rebound anytime soon. So if you were hoping to cash in your 401K or IRA and retire in the next year, Shellady says, rethink your plans....
  • How Ted Cruz Could Deliver the Coup de Grace to Donald Trump

    02/07/2016 1:49:19 PM PST · by Cincinatus' Wife · 155 replies
    Intellectual Conservative ^ | February 7, 2015 | Ralph Benko
    Presidential elections are about, above all, just two things: our security and our prosperity. Promises of prosperity have all but faded into the background... except by Donald Trump. In the last debate in which he participated Donald Trump hit the voters' target bull's eye in stating "I want to use that same up here, whatever it may be, to make America rich again." None of the other candidates came close to featuring The Message we voters wish to hear. Prosperity. If the other candidates - most notably #2 Ted Cruz - wished to gain the voters' hearts, or at least...
  • Americans are losing jobs to a visa program [H-1B]. Can it be fixed?

    02/04/2016 8:26:52 AM PST · by ConservingFreedom · 52 replies
    Christian Science Monitor ^ | February 3, 2016 | Schuyler Velasco
    [...] Its supporters, including the Obama administration, have touted the H-1B as a way to inject highly sought-after skills into the US talent pool. But more often, critics say, big companies exploit it to reduce labor costs, leaving more and more skilled American tech workers out of a job. "There are literally tens of thousands of American workers who have trained their foreign replacements," says Ronil Hira, a public policy professor at Howard University and a leading authority on H-1Bs. "And the workers being imported have no more than ordinary skills that are abundantly available in the US." [...] it...
  • So this is what 'full employment' looks like? [That's essentially what we have today]

    02/07/2016 7:29:45 AM PST · by SeekAndFind · 25 replies
    CNBC ^ | 02/07/2016 | Jeff Cox
    For more than seven years, Federal Reserve officials have touted their progress toward achieving "full employment," with the most recent target a 4.9 percent unemployment rate. With Friday's nonfarm payrolls report showing that the goal has been achieved, perhaps the Fed can raise the "Mission Accomplished" banner along with a welcome mat to the world of "full employment." The jobless rate last reached this level in February 2008, following a run from June 2005 to April 2008 during which unemployment never eclipsed 5 percent. Getting a "4-handle" on the number -- using Wall Street lingo -- was supposed to represent...
  • Who Has the Best Tax Plan? - What gives Ted Cruz the edge

    02/07/2016 1:57:15 AM PST · by Cincinatus' Wife · 26 replies
    The American Spectator ^ | February 4, 2015 | Stephen Moore, economic consultant at Freedom Works and a Fox News contributor
    [snip]First, the Cruz plan would give America the lowest tax rates since the income tax was devised 100 years ago. For this reason, these plan are estimated by the Tax Foundation to grow the economy by a gigantic $2 trillion extra GDP per year after 10 years. That's exactly the opposite effect of the Hillary and Bernie show plans.Second, Cruz's plan eliminates almost all deductions and credits-which is how they get the rate so low. The IRS could be dramatically shrunk in size. Don't forget, when there are fewer deductions,there are fewer ways to cheat on your taxes. The lower...
  • Hillary Clinton Says Banning Fossil Fuel Extraction on Public Lands a 'Done Deal'

    02/06/2016 10:18:17 PM PST · by Cincinatus' Wife · 41 replies
    Washington Free Beacon ^ | February 6, 2015 | Ali Meyer
    Hillary Clinton said that banning fossil fuel extraction on public lands is a 'done deal,' the Hill reported. After Thursday night's Democratic debate in New Hampshire, an activist with the green group 350 Action asked Clinton whether she would support banning hydraulic fracturing if she were elected. While Clinton said the president doesn't have the authority to do that, she did say that supporting a ban on fossil fuel extraction on public lands was a done deal. "President Obama's Interior Department in January said it would halt new leases for coal mining on federal land while it figures out how...
  • Fun with numbers: The real story behind the 4.9% unemployment report

    02/06/2016 5:24:15 PM PST · by SeekAndFind · 13 replies
    American Thinker ^ | 02/06/2016 | Rick Moran
    On the surface, the January jobs numbers appear to be "not bad."  There were 151,000 jobs created, and the official unemployment rate dropped below 5%. But the story inside the numbers is really, really awful.  The Bureau of Labor Statistics calculates job creation and loss using two different measurements: the Current Population Survey and "Establishment" data from the Current Employment Statistics.  Usually, the two measurements are roughly the same.  But how do you explain this, BLS? Consider these BLS numbers based on household data. In January, there were 25,328,000 "foreign born" workers employed, a one-month drop of 98,000. In January, there...
  • President Barack Obama takes victory lap on economy

    02/05/2016 4:06:07 PM PST · by artichokegrower · 64 replies
    President Barack Obama on Friday used a new jobs report to continue his victory lap on the economy - and jab at the Republicans vying for his job. In brief remarks to reporters at the White House, Obama declared the U.S. has "the strongest, most durable economy in the world." He pointed to signs of wage and income growth, job growth, lower oil prices and increasing numbers of Americans with health insurance as evidence of that claim.
  • Exclusive — 'It’s A Terrible Deal,' Donald Trump Says About Just-Signed Obamatrade

    02/05/2016 9:57:42 AM PST · by Syncro · 50 replies
    Breitbart/Big Government ^ | Feb 5. 2016 | Matthew Boyle
    Donald Trump, currently leading in New Hampshire polling ahead of this coming Tuesday's primaries, tells Breitbart News exclusively that the just-signed Trans Pacific Partnership (TPP) Pacific rim trade agreement is a "terrible deal." "It's like all deals that the United States makes under this president, it's a terrible deal," Trump said when asked to react to the news that President...Obama's U.S. Trade Representative just inked the deal officially in Auckland, New Zealand. It's going to allow countries to continue to take advantage of us and take our jobs, take our trade. It's bad for us. It'll allow China to come...
  • What jobs? BLS says 665,000 job LOSSES

    02/05/2016 9:53:49 AM PST · by xzins · 2 replies
    Washington Examiner ^ | 2/5/16 | Paul Bedard
    New Bureau of Labor Statistics shows that there were 665,000 jobs lost in January, a blunt finding that confuses the heralded report that 151,000 jobs were created in January in non-farm payrolls. But who got them? The very same BLS finds that jobs to "native born" and immigrant workers dropped. Ditto for men and women. It is possible that many employees took on a second job, according to analysts. But a difference of 816,000 is too big, one said. Same for the differences in the two surveys the BLS uses to gauge jobs, household data from the Current Population Survey,...
  • Trump: People Who Work Their Ass Off, Not Illegals, Are The Backbone Of This Country

    02/05/2016 9:33:25 AM PST · by xzins · 142 replies
    Real Clear Politics ^ | February 4, 2016 | RCP
  • Don't Show Trump This Chart: All U.S. Job Gains Since Dec. 2007 Have Gone To Foreign-Born Workers

    02/05/2016 8:59:34 AM PST · by SeekAndFind · 20 replies
    Zero Hedge ^ | 02/05/2016 | Tyler Durden
    With the Fed on the verge of a full relent and admission of policy error, the Fed's "data (in)dependent" monetary policy once again takes on secondary relevance as we progress into 2016. However, even with the overall job picture far less important, one aspect of the US jobs market is certain to take on an unprecedented importance. We first laid out what that is last September when we said that "the one chart that matters more than ever, has little to nothing to do with the Fed's monetary policy, but everything to do with the November 2016 presidential elections...
  • 70% Of Jobs Added In January 2016 Were Minimum Wage Waiters And Retail Workers

    02/05/2016 8:52:32 AM PST · by SeekAndFind · 23 replies
    Zero Hedge ^ | 02/05/2016 | Tyler Durden
    For those curious where the big jump in earnings came from, the answer appears rather simple: the reason, according to the BLS' breakdown of jobs added in January (per the Establishment survey), of the 151,000 jobs added in the past month, retail trade added 58,000 jobs in January, while employment in food services and drinking places, aka waiters and bartenders, rose by 47,000 in January.In other words, 70% of the job gains in January went to minimum wage workers. So how does one explain the snap higher in January wages? Simple: state regulations demanding higher wages for minimum wage...
  • US added just 151k jobs in January; unemployment at 4.9%

    02/05/2016 8:18:58 AM PST · by SeekAndFind · 33 replies
    The U.S. economy added 151,000 jobs in January, a slowdown from recent months but still a sign of a solid job market. Employers raised pay, more people felt confident enough to look for work and the unemployment rate dipped to 4.9 percent, its lowest level since 2008. Friday's report from the Labor Department showed that the job market remains a vital support for an economy that is struggling in areas such as manufacturing and is facing weakness overseas. It provides a key piece of evidence for the Federal Reserve, which is weighing whether to raise interest rates again after lifting...
  • Right-to-Work States Have Faster Income Growth

    02/03/2016 12:56:12 PM PST · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 2/1/2016 | Jacob Hart
    Opponents of right-to-work insist the policy causes wages to plunge, but federal data suggest the opposite is true. Including Michigan, there are 25 states with right-to-work laws ensuring no worker can be required to pay a union as a condition of employment. In many right-to-work states, wages and incomes are growing faster than in forced unionization states. Seven of the 10 states with the fastest wage growth from 2013 to 2014 (the latest year data was available) were right-to-work states. Those 10 states and their wage growth rates were: North Dakota: 3.97%, Wyoming: 2.61%, Idaho: 2.41%, Oregon: 2.36%, Illinois: 2.31%,...
  • Pack your bags, Wall Streeters: Your jobs are moving to Nashville

    02/02/2016 2:41:47 PM PST · by SeekAndFind · 10 replies
    Business Insider ^ | 02/02/2016 | Matt Turner
    UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville. The bank announced fourth-quarter results on Tuesday, and in an accompanying presentation it set out examples of cost cuts in the corporate center, which houses things like human resources and IT. As the chart below shows, the bank has created 500 jobs in Nashville since the end of 2014, and plans to add another 100. Admittedly, that isn't a huge number. The Americas business at UBS made 2.8 billion Swiss francs in the fourth-quarter...
  • Trump on Trade: Only Candidate Talking About the Most Important Issue to U.S. Economic Future

    01/30/2016 8:06:20 PM PST · by vekzen · 56 replies
    breitbart ^ | 1/30/16 | vekzen
    DES MOINES, Iowa — Donald J. Trump, a billionaire and currently the front-running 2016 GOP presidential candidate, made the case exclusively to Breitbart News on Saturday that the only way to stop Obamatrade is to elect him President of the United States. Obamatrade is the combination of and intersection between the Trade Promotion Authority (TPA), which passed Congress last year and greases the skids for the congressional approval of various trade deals by lowering U.S. Senate vote thresholds from 60 votes to 51 votes and killing the ability of Congress to amend those deals, and those various trade deals.
  • American Tech Workers Defiant as GOP Lawmakers Push to Expand Foreign Labor Programs

    01/30/2016 6:35:25 PM PST · by Enlightened1 · 39 replies
    Breitbart ^ | 01/29/16 | Julia Hahn
    In 2014, the Northeast Utilities Company in Connecticut -- now known as Eversource Energy -- allegedly laid off around 200 of its American tech workers and replaced them with low-wage foreigners admitted on H-1B guest worker visas. Now a photo has emerged depicted the workers' final, silent patriotic protest -- silent because the workers reportedly were forced to sign non-disparagement agreements to shield their employer. The image depicts the display of American flags around cubicles of the company's IT department -- circulated by trade magazine ComputerWorld -- before the Americans were replaced with foreign labor. The powerful image seems to...
  • In Praise of Trump

    01/30/2016 12:36:45 PM PST · by Kaslin · 47 replies
    Townhall.com ^ | January 30, 2016 | George Mano
    It has been fashionable the last two weeks to pen articles attacking Donald Trump, the front-runner in the race for the Republican Party nomination for President. "He's not a true conservative." "He's not Ronald Reagan," they said. The jury's still out on whether or not he's a true conservative, but we can agree that he is not Ronald Reagan. I would say he is more like Abraham Lincoln. Lincoln had been elected to Congress as a member of the Whig Party, but he parted company with the Whigs and joined the Republicans, when the Whig leaders wouldn't take a stand...
  • Trump is right, says brave economist (You have to be brave to agree with Trump?)

    01/28/2016 11:55:58 AM PST · by AngelesCrestHighway · 62 replies
    MarketWatch ^ | 01/28/16 | Tom Bemis
    Donald Trump is right when he calls for high trade tariffs to protect American jobs, according to one brave economist. The Republican presidential candidate’s protectionist rhetoric has been playing well with voters heading into the primary season. But Trump has been attacked by economists and the media for violating the sacred belief that free trade is always a good thing, writes Peter Morici, a professor at the University of Maryland. Morici argues that China hasn’t been playing fair, however, and says the artificially weak yuan has cost America hundreds of thousands of jobs. “Trump’s proposals for fixing trade — starting...
  • This Trend Is Not Your Friend - Initial Jobless Claims Average Surges To 10-Month Highs

    01/28/2016 8:42:28 AM PST · by SeekAndFind · 11 replies
    Zero Hedge ^ | 01/28/2016 | Tyler Durden
    Having surged to six-month highs, initial jobless claims dropped modestly on the week but the smoother 4-week average that is broadly used pushed to new cycle highs at 285k - the highest since March 2015 confirming The Fed's concerns over the economy. This is a trend that is certainly not the friend of Janet and her friends... but we are sure this is all just transitory.
  • Trump -- debt creator and bailout-backer

    01/28/2016 5:41:31 AM PST · by Cincinatus' Wife · 57 replies
    The Washington Examiner ^ | January 28, 2016 | Editors
    The Tea Party movement began as a response to federal bailouts of Wall Street and auto makers in 2008 and 2009. These unprecedented government interventions in the economy padded the wallets of special interests by privatizing profits and socializing losses. Where was Donald Trump on this? As it happens, he appeared on television more than once to discuss what was happening. And when he did, he came in favor of the bailouts that soured conservative voters, especially Tea Partiers, on both George W. Bush and Barack Obama. Of the auto companies, which were failing because of years of union intransigence...
  • DISTURBING fact about government workers shows Trump was right on this point all along…

    01/09/2016 7:23:10 PM PST · by BlackFemaleArmyCaptain · 154 replies
    Allen West ^ | 1/9/2016 | The Analytical Economist
    It's a good thing Trump wants to rebuild our manufacturing base, because it truly has taken a hit. We've turned from a nation of builders to burger flippers. To put in perspective just how bad things have gotten - there were more Americans employed in manufacturing in the months leading up to Pearl Harbor than there are today, despite the fact that the population then was a fraction of what it is today. In that time, there was 1 person employed in manufacturing for every 10.6 people in the overall population compared to 1 person employed in government for every...
  • VIDEO: Black woman says Trump ‘gives real hope and change’

    01/24/2016 11:16:11 AM PST · by BlackFemaleArmyCaptain · 18 replies
    The American Mirror ^ | 1/13/2016 | OLAF EKBERG
    The presidential candidacy of Donald Trump is poised to shake up the political make up of America. A higher percentage Democrats and Independents are moving in Trump's direction. Just one example is a black female Democrat in Atlanta who says Trump opened her eyes. "Trump gives me real hope and change, not fake hope and change. I'm voting for America because I believe in America. "I never thought I'd be saying these words about the country. Democrats don't speak about the country but I've woken up, I've seen the truth and the truth is Trump, I believe in this guy...
  • Trump's Boast: Blacks will like me better than Obama

    01/24/2016 11:00:27 AM PST · by BlackFemaleArmyCaptain · 89 replies
    Fox News ^ | 1/24/2016 | Howard Kurtz
    In an interview airing Sunday on Fox's "Media Buzz," Trump told me there is already great affection for him in the black community. "Look, the African Americans love me because they know I am going to bring back jobs," he told me at the Trump International Hotel in Las Vegas. Okay, a pretty standard Trumpian boast. But then he said this: "They are going to like me better than they like Obama. The truth is Obama has done nothing for them." The statement was so audacious that it took me a split-second to react. "Did you just say," I interrupted,...
  • Cheap oil is killing Oklahoma’s economy

    01/23/2016 12:59:38 PM PST · by shepardspie33 · 34 replies
    Red Dirt Report ^ | January 23, 2016 | Brian Woodward
    OKLAHOMA CITY -- As oil prices continue to slide with no recovery in sight, the Oklahoma economy has begun to contract. Oil prices have fallen to 12 year lows, and the industry is undergoing its largest downturn since the 1990's. Meanwhile, investment bank forecasts continue to become more bearish. According to the latest data released by the Bureau of Economic Analysis, gross domestic product in Oklahoma declined 2.4 percent in the second quarter, ranking last among U.S. states. Prompted by depressed oil prices, these numbers were a stark reversal of the 6.5 percentage growth that occurred during the first quarter....
  • 2016 Is Looking Like One Bad Year Financially

    01/23/2016 12:34:27 PM PST · by American Faith Today · 8 replies
    American Faith Today ^ | January 23, 2016 | American Faith Today
    On today's show I wanted to go back to something that I haven't dealt with in a while, and that's the economy. I of course am not an economist, but I do put my trust in what economists and economic commentators say we need to be watching rather than what the government says the unemployment rate is. We've gotten off to a very rough start in 2016 when it comes to global markets, wealth lost in the stock markets, global trade, and companies looking to downsize their workforce. I don't like to talk negative but I do like to talk...
  • US jobless claims jump to 7-month high

    01/21/2016 6:30:22 AM PST · by SeekAndFind · 10 replies
    New claims for US unemployment insurance benefits jumped to a seven-month high last week, the Labor Department reported Thursday. Initial jobless claims rose by 10,000 to 293,000 in the week ending January 16, the highest level since early July. But claims, a sign of the pace of layoffs, have remained below 300,000 since late February 2015 as the jobs market tightens. Analysts say volatility is typical in the first weeks of the year. The four-week moving average for claims rose by 6,500 to 285,000. A year ago it was 298,250. The US economy added 2.65 million jobs in 2015, the...
  • U.S. Steel may cut nearly 700 Texas jobs

    01/20/2016 12:56:19 PM PST · by thackney · 7 replies
    Fuel Fix ^ | January 20, 2016 | Jordan Blum
    The oil crash continues to hit parts of rural Texas hard. On Wednesday, the Texas Workforce Commission released a letter from U.S. Steel Corp. announcing the elimination of nearly 700 jobs near the small city of Lone Star near the Louisiana and Arkansas borders. U.S. Steel is considering temporarily mothballing the pipe-making plant during the ongoing oil and gas slump. The facility is located in northeastern Texas in Morris County, which has a population of less than 13,000 people. Lone Star has just 1,500 residents. While the Houston area seen thousands of jobs lost in the crash, the oil downturn...
  • The 25 best jobs in America right now, according to employees

    01/20/2016 9:42:09 AM PST · by SeekAndFind · 17 replies
    Business Insider ^ | 01/20/2016 | Jacquelyn Smith
    Every January, Glassdoor publishes its list of the best jobs of the year. For 2016, the top spot goes to data scientist. "It isn't a big surprise to see data scientist at No. 1 this year because it's one of the hottest and fastest growing jobs we're seeing right now," says Dr. Andrew Chamberlain, Glassdoor's chief economist. "Since all companies have an online presence these days, they all need people who know how to manage and store data that helps them make better business decisions, compared to years ago when businesses didn't have data management at their fingertips to review...
  • How to Deal With a Long Hiring Process: Getting a job takes longer than ever

    01/20/2016 7:11:30 AM PST · by SeekAndFind · 28 replies
    Wall Street Journal ^ | 01/20/2016 | By SUE SHELLENBARGER
    Getting a job takes longer than ever, as employers ask more of candidates. It has never been easy to land a job, but a rise in hiring has added a new twist: Employers are taking nearly twice as long to hire people as they did several years ago. Companies need an average of 23 days to screen and hire new employees, up from 13 days in 2010, says Andrew Chamberlain, chief economist at the jobs and recruiting site Glassdoor, based on a study of nearly 350,000 interview reviews by the site's users. Applicants run a gantlet of multiple interviews not...
  • The CEO of the world's largest investor thinks layoffs are on the way

    01/19/2016 2:44:38 PM PST · by SeekAndFind · 16 replies
    Business Insider ^ | 01/19/2016 | Matt turner
    Markets have been going haywire.And according to Larry Fink, CEO of BlackRock, that has the potential to lead to layoffs through the first half of the year.BlackRock is the world's largest investor, with about $4.5 trillion under management.Fink said in an interview Friday morning with CNBC that the market volatility of late could affect CEO confidence and could lead to more layoffs.He said (emphasis ours):Having a market decline like this in the first couple of weeks of the year really, in my mind, puts a negativity across the economy. A negativity to every CEO who is looking at his or...
  • Oil shock is hurting U.S. economy: Kemp

    01/19/2016 3:09:58 AM PST · by thackney · 63 replies
    Reuters ^ | Jan 18, 2016 | JOHN KEMP
    ...By turnover and investment, petroleum exploration, production, refining, transportation and marketing is one of the largest industries in the United States and around the world. In the United States, businesses engaged in oil and gas extraction and refining spent almost $200 billion on new equipment and structures in 2013, the most recent year for which data are available. Oil and gas extraction and refining accounted for more than 14 percent of all new capital expenditures in the United States in 2013, according to the U.S. Census Bureau. Oil and gas drilling and associated services on their own accounted for more...
  • Economic Analysis Shows Donald Trump's China Crackdown Would Create Millions of American Jobs

    01/17/2016 4:11:40 PM PST · by Red Steel · 54 replies
    Breitbart ^ | 15 Jan 2016 | Julia Hahn
    However, the debate did highlight a distinction between GOP frontrunner Donald Trump and the rest of the GOP field on trade. As Trump called for cracking down on Chinese currency manipulation, other candidates-most notably, Marco Rubio-argued against Trump's corrective measures. As Trump explained: "China is ripping us on trade. They're devaluing their currency and they're killing our companies... They send their goods and we don't tax it-they do whatever they want to do...[But] when we do business with China, they tax us... I'm totally open to a tariff. If they don't treat us fairly, hey, their whole trade is tariffed......
  • Speaker Paul Ryan: My 5 Point Agenda for 2016

    01/16/2016 8:21:03 AM PST · by afraidfortherepublic · 31 replies
    Investors Business Daily ^ | 1-16-16 | Andrew Malcolm
    Speaker Paul Ryan gives the Republican Party's Weekly Remarks Here in Baltimore, over the last few days, Republicans have been talking about ideas to address the big challenges facing our country. Right now, Americans are anxious about their security and their futures. We want to save the American Idea for the vast majority of Americans who believe it's just not there for them anymore. We want America to lead again. We want America to be confident again. That is our mission. To do that, we can't just be an opposition party. We have to be a proposition party. If we...
  • Michigan Economy No Longer Dependent on Auto Industry

    01/15/2016 8:56:18 AM PST · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 1/11/2016 | Tom Gantert
    Media pundits in Michigan repeatedly state that the auto industry dominates this state’s economy. A recent example came when MLive columnist Rick Haglund wrote, “Michigan, which is heavily dependent on the auto industry, needs a strong national economy to prosper.” However, government statistics may tell a different story. According to the U.S. Bureau of Labor Statistics, as of June 2015 Michigan had 174,475 jobs in the “transportation equipment” field, which includes workers who make cars and make car parts. This is roughly 1 out of every 23 jobs in the state. Compare that to the 462,000 people working in retail,...
  • Donald Trump's companies sought visas to import at least 1,100 workers

    01/13/2016 2:12:00 PM PST · by gwgn02 · 94 replies
    Business Insider ^ | 1/13/16 | Mica Rosenberg and Ryan McNeill
    Donald Trump is staking his run for U.S. president in part on a vow to protect American jobs. But this month, one of his companies, the elite Mar-a-Lago Club resort in Florida, applied to import 70 foreign workers to serve as cooks, wait staff and cleaners. A Reuters analysis of U.S. government data reveals that this is business as usual in the New York property magnate's empire. Trump owns companies that have sought to import at least 1,100 foreign workers on temporary visas since 2000, according to U.S. Department of Labor data reviewed by Reuters. Most of the applications were...
  • The breakdown of December’s extremely misleading job report [Only 11,000 new jobs created]

    01/13/2016 7:35:38 AM PST · by SeekAndFind · 6 replies
    New York Post ^ | 01/12/2016 | John Crudele
    Four days after Wall Street and the business media went gaga over the better-than-expected 292,000 new jobs created in December, let me tell you the non-adjusted truth: There were just 11,000 new jobs created last month. That's not my estimate or the guess of some on-the-fringe Obama administration critic. That comes directly from the Labor Department Web site. Here's how to find it. 1. Go to the Labor Department Web site, specifically the page: http://www.bls.gov/ces/. 2. Now Look at the "Browse CES" list on the left side of the page, find "CES Databases" and click on it. 3. Next, go...
  • Goodbye Jobs, Hello 'Gigs': How One Word Sums Up A New Economic Reality

    01/12/2016 11:19:49 AM PST · by SeekAndFind · 24 replies
    NPR ^ | 01/12/2016 | GEOFF NUNBERG
    The obvious candidates for word of the year are the labels of the year's big stories -- new words like "microaggression" or resurgent ones like "refugees." But sometimes a big theme is captured in more subtle ways. So for my word of the year, I offer you the revival of "gig" as the name for a new economic order. It's the last chapter in the life of a little word that has tracked the rise and fall of the great American job. "Gig" goes back more than a century as musicians' slang for a date or engagement. Nobody's sure where...
  • The Silly Myth of the College Grad Barista

    01/12/2016 7:23:52 AM PST · by SeekAndFind · 24 replies
    Fox News ^ | 01/12/2016 | Elizabeth MacDonald
    "Millennial College Graduates: Young, Educated, Jobless," reads a Newsweek headline. "The Youth Recession: The New Normal for Young Workers," is another headline in The Atlantic magazine. "Why Skills Are Not Enough to Land a Job," blares a recent story from The Nation, decrying a new normal of "baristas with BAs." However, it's an urban myth that college grads are stuck in jobs working as Starbucks (SBUX) baristas, says new analysis from the New York Federal Reserve. "While there is some truth behind the popular image of the college-educated barista, this portrayal is really more myth than reality," say New York...
  • Stockman: Only 11,000 Jobs Last Month, Not 292,000

    01/11/2016 4:06:12 PM PST · by GilGil · 17 replies
    NewsMax ^ | 01/09/2016 | David Stockman
    So what happened to the non-seasonally adjusted (NSA) job count in December at similar points late in the course of prior cycles? Well, in December 1999 about 140,000 jobs were added and in December 2007 there was a NSA gain of 212,000. This time we got the magnificent sum of 11,000, and by the way, last year was only 6,000. The real news flash in the December “jobs” report, therefore, is that even by the lights of the BLS’ rickety, archaic and virtually worthless establishment survey, the domestic economy is dead in the water. We are not on the verge...
  • This is The Last Hurrah For Job Growth

    01/11/2016 10:20:56 AM PST · by SeekAndFind · 6 replies
    RCM ^ | 01/10/2016 | By Louis Woodhill
    Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that December was a very good month for jobs. FTE* employment rose by 481,000. This complemented the unexpectedly large increase of 292,000 in payroll employment. Labor force participation edged upward in December, providing welcome relief from the relentless slide of this important indicator that has occurred during the Obama years. Unfortunately, December's numbers may very well be the last hurrah for jobs, as the economy slips into recession. It is worrisome that the Dow Jones Industrial Average fell by 2.23% during 2015, after rising during each of the...
  • Job Cuts at Macy's Signal Hard Times Ahead for Retailers: 4,800 layoffs after miserable holiday

    01/10/2016 6:09:11 AM PST · by SeekAndFind · 19 replies
    ABC News ^ | 01/10/2016
    Macy's is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores. The nation's largest department store chain, which also operates Bloomingdale's, said late Wednesday it is cutting up to 4,800 jobs and trimming its profit outlook after a miserable holiday season. "I think Macy's is likely to be a canary in a coal mine," said Ken Perkins, president of Retail Metrics, a retail research firm. He said retailers witnessed an acceleration of the shift toward online and mobile holiday spending in 2015. About...
  • Newsflash From The December 2015 ‘Jobs’ Report --- The US Economy Is Dead In The Water

    01/09/2016 9:43:05 PM PST · by SeekAndFind · 9 replies
    Contra Corner ^ | 01/09/2016 | David Stockman
    Here’s a newsflash that CNBC didn’t mention. According to the BLS, the US economy generated a miniscule 11,000 jobs in the month of December.Yet notwithstanding the fact that almost nobody works outdoors any more, the BLS fiction writers added 281,000 to their headline number to cover the “seasonal adjustment.” This is done on the apparent truism that December is generally colder than November and that workers get holiday vacations.Of course, this December was much warmer, not colder, than average. And that’s not the only deviation from normal seasonal trends.The Christmas selling season this year, for example, was absolutely not comparable...
  • Jobs Arrive In December, But Why Still No Pay Raise?

    01/09/2016 7:48:06 PM PST · by SeekAndFind · 10 replies
    IBD ^ | 01/09/2016
    We needed some good news in an otherwise grim week for the economy and stocks and got it in a blockbuster report showing 292,000 new hires in December and a 50,000 upward revision from previous months. The alternative measure used by the Department of Labor based on the household survey, showed job growth was even swifter, with a gain of 485,000. Best of all, nearly half a million Americans on net entered the labor force, helping reverse for now a horrid slide in labor market participation. The participation rate now stands at 62.6%, up from 62.4% in September. But we're...
  • Where The December, 2015 Jobs Were: Minimum Wage Deluge Continues

    01/08/2016 10:03:19 AM PST · by SeekAndFind · 11 replies
    Zero Hedge ^ | 01/08/2016 | Tyler Durden
    Earlier we gave a big picture explanation how the US can add 292,000 while average hourly wages actually decline. Below is a more nuanced answer, looking at the breakdown of jobs by industry in December. It will probably come as no surprise to anyone that for another consecutive month, the well-paying jobs: mining and logging, wholesale trade, manufacturing, and information barely posted a net increase. Alternatively, the worst quality jobs continued to soar, pushed higher once again by none other than education and health, where Obamacare was once again instrumental to propel healthcare jobs by a 52,600 surge in...
  • WHOA! Job creation surges in December

    01/08/2016 9:37:46 AM PST · by SeekAndFind · 22 replies
    CNBC ^ | 01/08/2016 | Jeff Cox
    The U.S. economy closed out 2015 with a huge round of job creation. Nonfarm payrolls grew by 292,000 during December, according to a Bureau of Labor Statistics report Friday that showed employment momentum as the year wound down. The unemployment rate was 5 percent. A separate, more encompassing measure that accounts for those who did not look for work in the past month or were working part time for economic reasons -- the underemployed -- head steady as well, at 9.9 percent. Economists had been expecting 200,000 new positions and the unemployment rate to hold steady. Stock market futures temporarily...
  • ADP estimate: 257,000 private-sector jobs added in December

    01/07/2016 8:41:46 AM PST · by SeekAndFind · 16 replies
    Hotair ^ | 01/07/2016 | Ed Morrissey
    If this comes close to the Bureau of Labor Statistics report on Friday, it will signal a decent if unspectacular start to the New Year. ADP estimates that employers added 257,000 private-sector jobs last month, an increase of 40,000 jobs over its estimate for November, and the best result for all of 2015: Private sector employment increased by 257,000 jobs from November to December according to the December ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP® in collaboration with Moody’s Analytics. The report, which...
  • Most Americans are one paycheck away from the street

    01/06/2016 5:59:18 PM PST · by free_life · 54 replies
    MarketWatch ^ | Jan 6, 2016 | Quentin Fottrell
    Some 63% of people can't deal with a $500 emergency. Americans are starting 2016 with more job security, but most are still theoretically only one paycheck away from the street. Approximately 63% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a survey released Wednesday of 1,000 adults by personal finance website Bankrate.com, up slightly from 62% last year. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (23%), borrowing from family and/or friends (15%) or using credit cards to bridge...
  • Flimsy Job Projections Used to Promote Selective Business Tax Breaks

    01/05/2016 5:48:24 AM PST · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 1/3/2016 | Jack Spencer
    Gov. Rick Snyder will likely sign into law legislation that gives data centers special tax breaks, on the condition that they create 400 jobs by 2022 and 1,000 by 2026. But the legislation creating the exemptions on sales and use taxes does not require any new jobs to be created in the coming year, and it is unclear how the industry's performance at job creation will be verified or tracked. Tricia Kinley, the director of tax and regulatory reform at the Michigan Chamber of Commerce, said that it was difficult to take seriously the amendment that added the job-creation requirement....