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Keyword: unemployment

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  • US jobless claims tumble to lowest level in nearly a decade (284,000)

    07/24/2014 6:47:03 AM PDT · by SeekAndFind · 43 replies
    CNBC ^ | 07/24/2014
    The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction. Initial claims for state unemployment benefits declined 19,000 to a seasonally adjusted 284,000 for the week ended July 19, the Labor Department said on Thursday. That was the lowest level since February 2006, and confounded economists' expectations for a rise to 308,000. The prior week's claims were revised to show 1,000 more applications received than previously reported.
  • Kgb USA eliminating hundreds of jobs in San Antonio (225 jobs)

    07/18/2014 7:44:05 PM PDT · by 2ndDivisionVet · 26 replies
    The San Antonio Business Journal ^ | July 14, 2014 | W. Scott Bailey
    Kgb USA Inc. has informed the Texas Workforce Commission that it plans to carry out a “mass layoff” in San Antonio. The call center company, which does business as Conduit Global, expects to eliminate 225 positions by Aug. 31. Conduit Global officials say the layoffs are a result of an unexpected cancellation of services by one of the company’s clients. Conduit Global notes in a Worker Adjustment and Retraining Notification Act (WARN) letter filed with the Texas Workforce Commission that it is hopeful the layoffs can be minimized by the “potential award of a large customer care contract.” If a...
  • More Than 1,400 Workers In Pike County, Ohio, To Receive Possible Layoff Notices (Fluor B&W)

    07/18/2014 7:25:16 PM PDT · by 2ndDivisionVet · 4 replies
    WCHS-TV ^ | July 18, 2014 | Sean Delancey and Jeff Morris
    Piketon , Ohio - Roughly 1400 people woke up to bad news Thursday morning. It's called a warn notice, and it means their livelihood is on the line. "These are the higher paying jobs in the area," Herman Potter said. But those jobs are now in jeopardy. Herman Potter is president of the Steel Workers Union in Piketon, Ohio. His employer, Fluor B&W issued a warn notice, stating layoffs are possible. Fluor B&W was hired by the Department of Energy to clean the former Portsmouth gaseous diffusion plant and re-industrialize the property three years ago. The way things stand now,...
  • Will Legalizing Illegals Help Unemployed? Rep. DeLauro: That's a 'Gotcha Question'

    07/17/2014 3:20:23 PM PDT · by Zakeet · 10 replies
    CNS News ^ | July 17, 2014 | Lauretta Brown
    When asked by CNSNews.com on Wednesday whether legalizing illegal aliens would help the unemployed in the United States, Rep. Rosa DeLauro (D.-Conn.) countered that that was a “a gotcha question” and declined to answer it. DeLauro was speaking outside the U.S. Capitol at a rally for the unemployed.
  • "Seasonal Adjustment" Swings Initial Jobless Claims From 6-Month Highs To Cycle Lows

    07/17/2014 3:15:10 PM PDT · by Perdogg · 3 replies
    Once again we were spot on. Because as the DOL just reported, yet again the fate of the US economy is left to seasonal adjustments. Non-seasonally-adjusted initial jobless claims surged over 47,000 this week to its worst in 6-months. But by the magic of PhD adjustment, this translated into 3,000 seasonally-adjusted drop from last week, beating expectations and printing near 'recovery' cycle lows. We can only imagine the adjustments needed to cope with Microsoft's layoffs. 2014 has seen the smallest percentage drop in initial claims since the crisis began.
  • UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

    07/17/2014 7:27:51 AM PDT · by Red Badger · 1 replies
    www.dol.gov ^ | 07-17-2014 | Bureaucrats
    In the week ending July 12, the advance figure for seasonally adjusted initial claims was 302,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 304,000 to 305,000. The 4-week moving average was 309,000, a decrease of 3,000 from the previous week's revised average. This is the lowest level for this average since June 2, 2007 when it was 307,500. The previous week's average was revised up by 500 from 311,500 to 312,000. There were no special factors impacting this week's initial claims.
  • US jobless queue shortens, but housing starts plunge sharply in June

    07/17/2014 6:52:23 AM PDT · by SeekAndFind · 31 replies
    CNBC ^ | 07/17/2014
    The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction. However, a separate report showed U.S. housing starts and building permits unexpectedly fell in June, suggesting the housing market recovery was struggling to get back on track after stalling in late 2013. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 302,000 for the week ended July 12, the Labor Department said on Thursday. The prior week's claims were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast...
  • 2008 Meltdown Revisited-There’s No Solution-Egon von Greyerz

    07/16/2014 12:02:12 PM PDT · by GilGil · 19 replies
    Usawatchdog.com ^ | 07/16/2014 | Greg Hunter
    We are now in a situation where every major economy in the world is in a total mess.” Greyerz goes on to explain, “Japan’s economy is going to disappear into the Pacific. China is having its problems. Europe has problems. The EU will never work and was not supposed to work. The euro is an artificial currency and, in the long run, will not survive. The U.S. stock market is at an all-time high, but that has nothing to do with the real economy which is an absolute mess. So, the world has never been in a situation where all...
  • Pinocchio in The White House Press Room

    07/16/2014 11:18:35 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | July 16,2014 | Donald Lambro
    WASHINGTON - If anyone needs further evidence the White House is out of touch with reality, it came in an official statement this week that President Obama has made the world a more tranquil place. This was the White House's exaggerated response to a well-documented, front page Wall Street Journal story that concluded "the breadth of global instability now unfolding hasn't been seen since the late 1970s." The article also charged that under this administration, "U.S. global power seems increasingly tenuous." This should be obvious to anyone who's been following foreign events -- make that crises -- since Barack Obama,...
  • Business majors' job prospects are looking bright

    07/16/2014 7:09:58 AM PDT · by SeekAndFind · 9 replies
    Fortune ^ | 07/16/2014 | by Alison Damast
    For business graduates, job placement appears to be on par with last year, if not slightly better, and salaries are holding firm. At a recent open house for parents of incoming freshmen business students at Bentley University, Career Services Director Len Morrison had an encouraging message to share. Recent graduates have been landing jobs with ease, and companies have been flocking to campus, many making multiple hires, Morrison said. “I told them that I don’t think there is a better time to be graduating as a business student,” he said. “The economy is back and looks like it is moving...
  • 10 Popular Jobs That Are Quickly Disappearing

    07/15/2014 7:40:37 AM PDT · by SeekAndFind · 46 replies
    Business Insider ^ | 07/15/2014 | Emmie Martin
    As the digital sector grows, jobs that rely on older technologies, such as newspaper reporters, mail carriers, and lumberjacks, are rapidly becoming obsolete. A new study by CareerCast revealed the top 10 professions predicted to lose the most jobs by 2022, based on data from the Bureau of Labor Statistics. Mail carriers are most endangered, with a projected 28% decline by the year 2022. Farmers and meter readers will also see significant shrinkage, with an anticipated 19% decline for each within the next eight years. Is your job headed for the trash pile? 1. Mail Carrier BLS job description: Sort...
  • U.S. Economy-Plunge, Stagnation & Turning Down Anew-John Williams

    07/14/2014 10:21:03 AM PDT · by GilGil · 19 replies
    USAWatchdog.com ^ | 7/1/2014 | John Williams
    Back in 2013, Williams predicted that it would be “game over” in 2014. What are the statistics showing him now? Williams says, “They are showing the economy continues to weaken, and it never recovered. A second quarter contraction here would most assuredly be recognized as a new recession, and I contend we never got out of the old recession. We had plunge, stagnation and, now, we are turning down anew.”
  • City of Ruins: Camden, New Jersey, stands as a warning....

    07/10/2014 1:12:33 AM PDT · by WhiskeyX · 69 replies
    Camden, New Jersey, with a population of 70,390, is per capita the poorest city in the nation. It is also the most dangerous. The city's real unemployment—hard to estimate, since many residents have been severed from the formal economy for generations—is probably 30–40 percent. The median household income is $24,600. There is a 70 percent high school dropout rate, with only 13 percent of students managing to pass the state's proficiency exams in math. The city is planning $28 million in draconian budget cuts, with officials talking about cutting 25 percent from every department, including layoffs of nearly half the...
  • What "Rosy" Job Numbers? Wal-Mart CEO Slams Recovery Mirage

    07/09/2014 7:43:18 AM PDT · by SeekAndFind · 19 replies
    Zero Hedge ^ | 07/08/2014 | Tyler Durden
    When the CEO of the world's biggest company doubts the veracity of US economic data, you know you have a problem. After quarters of disappointing growth in the face of miraculous equity market performance; Wal-Mart CEO Bill Simon warns that shoppers aren’t returning at the pace one might expect years after the recession peaked, despite mainstream media interpretation of the data showing unequivocal growth. Simply put, he exclaims, "the unemployment numbers particularly have been difficult to read with the number of people dropping out of the work force," adding that if we see a further drop in the participation...
  • Part-Time Nation: A deceptive jobs report obscures the dark truth about the Obama economy.

    07/08/2014 9:32:17 AM PDT · by SeekAndFind · 13 replies
    FrontPage Mag ^ | 07/08/2014 | Arnold Ahlert
    Last Thursday, an Obama-centric mainstream media trumpeted the creation of 288,000 jobs and the reduction in the unemployment rate from 6.3 percent to 6.1 percent. Lost in the manufactured euphoria are the sobering details: America is well on its way to becoming a nation where millions of workers can only find part-time, lower-paying jobs. On the surface, the numbers are impressive. The Bureau of Labor Statistics (BLS) reported the aforementioned 288,000 jobs gain, while the household survey reported a gain of 407,000. Yet those numbers pale in comparison to the rise in the number of voluntary and involuntary part-time jobs,...
  • Unemployment Numbers Warn of Growing Entitlement Burden

    07/08/2014 7:02:55 AM PDT · by SeekAndFind
    RCM ^ | 07/08/2014 | Jeffrey Dorfman
    Why do we tax corporations? No, seriously — why? If you’re like most people and all New Democrats, your response will be “because that’s where the money is,” or some variant thereon. Corporations have lots of money, the thinking runs, and are unlikely to mind if the government helps itself to some of it. And since they don’t vote, it doesn’t much matter if they do mind. An economist, on the other hand, would point out that, one way or another, all of the income earned by a corporation finds its way back to the people who financed it, whether...
  • EXography: Employment keeps sagging in the Obama recovery

    07/08/2014 4:13:43 AM PDT · by gusopol3 · 8 replies
    Washington Examiner ^ | July 8, 2014 | David Freddoso
    When President Obama took office in 2009, the U.S. economy was in the midst of the Great Recession of 2008. Five and a half years later, that historic swoon remains his excuse for continued economic stagnation. Whoever or whatever is to blame, neither his efforts nor luck nor a natural rebound have managed to restore America's job market to what it was in better times. The July 3 jobs report was a reminder that the economy is at least creating jobs again, albeit at a rate that barely keeps up with population growth. And national and state unemployment rates have...
  • The Unemployment Rate Should Lose Its Job

    07/07/2014 8:15:41 AM PDT · by SeekAndFind · 3 replies
    RCM ^ | 07/07/2014 | By Brian Brenberg & Jared Pincin
    One thing we know about Mayor de Blasio is that he’s serious about creating affordable, quality housing for all New Yorkers. “This is literally the largest and most ambitious affordable-housing program initiated by any city in this country in the history of the United States of America,” de Blasio declared when he announced his “five-borough, 10-year plan” in May. “It is the largest, fastest affordable-housing plan ever attempted at a local level,” he added, vowing to “change the face of this city forever.” Hear that kids? Your rent worries will soon ease. Great news! I wonder if the new promise...
  • Further Look at Employment: Seasonally Adujsted Decline of 523,000 Over Last Month

    07/06/2014 9:34:21 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | July 6, 2014 | Mike Shedlock
    Initial Reaction On the surface, this appeared to be a very strong jobs report from both the household survey and establishment survey perspective. The establishment survey reported a gain of 288,000 jobs while the household survey sported a gain in employment of 407,000. In addition, May was revised up from +217,000 to + 224,000, and April revised up from +282,000 to +304,000. Digging deeper into the details, strength was entirely part-time (and then some). Voluntary part-time employment rose by a whopping 840,000 and involuntary part-time employment rose by 275,000. Compared to a total gain of employment of 407,000, the gain...
  • The Insiders: This month’s jobs headlines don’t tell the true story

    07/04/2014 6:03:26 PM PDT · by xzins · 9 replies
    Washington Post ^ | July 3 | Ed Rogers
    The headline of today’s jobs report, that 288,000 jobs were created in the last month, is positive. At least, it is better than a poke in the eye with a sharp stick. However, as with most economic reports these days, there is a veneer of good news — but when you look closer, the White House is using the positive headlines to hide the growing deterioration of the American workforce. Last month, 523,000 full-time jobs were lost, while 799,000 part-time jobs were added. Another way of looking at these numbers is that almost all of the 288,000 jobs created last...
  • On Every Big Issue, Obama's Presidency is Found Wanting

    07/04/2014 9:39:52 AM PDT · by Kaslin · 18 replies
    Townhall.com ^ | July 4, 2014 | Donald Lambro
    WASHINGTON - Republicans have a wealth of political issues that will dominate the 2014 midterm election races and determine their outcome. The national news media has done its best to try to bury these issues, play them down or sugar coat them, but the American people know better. They have persistently put these issues at or near the top of every voter poll in the last six years of Barack Obama's scandal-ridden, trouble-plagued administration. It's hard to break through and overcome the power of the Washington news media that has worked hard to cover up the Obama White House's blunders....
  • The New Republic: Recovery Summer May Finally Have Arrived

    07/04/2014 5:48:29 AM PDT · by SeekAndFind · 39 replies
    The New Republic ^ | 07/04/2014 | By Danny Vinik
    <p>For the past few years, it was like clockwork: A disappointing summer of job growth would give way to a much stronger winter. Economists would hesitantly forecast that the economy was about to kick into second gear. Then the summer would come and the disappointing data would return. But finally, looks like we're ready to break that trend: The economy added 288,000 jobs in June, soundly beating economists’ expectations of 211,000, and the unemployment rate fell to 6.1 percent.</p>
  • June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

    07/03/2014 7:10:45 PM PDT · by GilGil · 9 replies
    Zerohedge ^ | 7/3/14 | Tyler Durden
    Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!
  • The Stolen Job Myth: Do Immigrants Take Jobs Away from Native-Born Americans?

    07/03/2014 11:03:30 AM PDT · by SeekAndFind · 38 replies
    Townhall ^ | 07/02/2014 | Jeff Jacoby
    IF ANYONE ought to appreciate the power of immigration to stimulate employment, it is America's energetic anti-immigration advocates, whose jobs wouldn't exist if it weren't for the influx of immigrants they spend their days seeking to curtail. Then again, appreciating anything about immigration — least of all the ironies of our endless debate on the subject — goes against the restrictionists' grain. Fulminating about immigrants is one of America's enduring pastimes, and it doesn't leave a lot of room for wry humor. Or for logical consistency. Which helps explain why immigrants can be depicted on Mondays, Wednesdays, and Fridays as...
  • Who Was Hiring In June 2014?

    07/03/2014 8:25:06 AM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 07/03/2014 | Tyler Durden
    As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs rising by 799K, the most since 1993. So what does that mean for the job quality as reported by the Establishment Survey. Let's dive in.Of the 288K jobs added in June, here were some of the biggest contributors: Retail Trade: 40.2KLeisure and Hospitality: 39KEducation and health: 38KGovernment: 26KTemp Help Service: 13.1K What about the well-paying...
  • Here's How Fox News Covered Today's Awesome Jobs Report

    07/03/2014 8:14:33 AM PDT · by SeekAndFind · 17 replies
    Business Insider ^ | 07/03/2014 | Colin Campbell
    While Thursday's jobs report demolished expectations and sent the country's unemployment rate plummeting to 6.1%, the Fox News Channel noted the "real" unemployment rate was twice that number. Citing the figure the Bureau of Labor Statistics calls "U-6," defined as the "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers," the conservative-leaning news channel emphasized the higher number. "Brand new monthly jobs numbers to tell you about," a show anchor said Thursday morning, according to video provided by the left-leaning group...
  • U.S. June Employment Report: 288,000 Jobs Added, Unemployment Rate Down to 6.1 Percent

    07/03/2014 6:57:14 AM PDT · by kristinn · 51 replies
    The New Orleans Times-Picayune ^ | Thursday, July 3, 2014
    Hiring over the past five months has been the strongest since the late 1990s tech boom as the economy added 288,000 jobs in June and the unemployment rate fell to 6.1 percent from 6.3 percent. The Labor Department says those gains follow additions of 217,000 jobs in May and 304,000 in April, figures that were both revised upward.
  • ADP, Gallup jobs report point to job growth in June

    07/02/2014 12:24:27 PM PDT · by SeekAndFind · 7 replies
    Hotair ^ | 07/02/2014 | Ed Morrissey
    Since Friday is a federal holiday, the Bureau of Labor Statistics will release its jobs report for June 2014 tomorrow. Both ADP and Gallup have their usual leading indicator surveys out this morning, and the news looks relatively good from both. The private sector added 281,000 jobs according to the ADP estimate, the highest growth in more than a year: Private sector employment increased by 281,000 jobs from May to June according to the June ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a...
  • US companies added 281,000 jobs in June: Survey

    07/02/2014 8:13:33 AM PDT · by SeekAndFind · 8 replies
    Economic Times ^ | 07/02/2014
    WASHINGTON: A private survey shows US business hiring surged in June, a sign of stronger economic growth. Payroll processer ADP says private employers added 281,000 jobs last month, up from 179,000 in the previous month. The figure suggests the government's jobs report, to be released Thursday, could also show a significant gain from May's tally of 217,000 jobs. But the ADP numbers cover only private businesses and often diverge from the government's more comprehensive report. The improvement in the ADP figures occurred mostly in professional and business services, a category that includes many higher-paying jobs such as accountants and engineers,...
  • Spain Celebrates The "End Of The Recession" With 54% Youth Unemployment, Highest Since January

    07/01/2014 10:17:49 AM PDT · by Enlightened1 · 8 replies
    Zero Hedge ^ | 07/01/14 | Tyler Durden
    According to the just released European employment data for May, total Spain unemployment remained unchanged in May at 25.1%, while youth unemployment has actually risen to 54.0% - the highest since January! That's ok though: aside from the facts, onc is welcome to "believe" whatever headlines one wants to believe. And speaking of "recovery", here is what unemployment across Europe looked like as of May.
  • Barack Obama may be Silicon Valley's last hope for immigration reform in 2014

    06/30/2014 9:46:00 PM PDT · by bushwon · 32 replies
    Silicon Valley Business JOurnal ^ | June 30, 2014 | Lauren Helpler
    resident Barack Obama may be Silicon Valley's last hope for swift action on stalled immigration reform efforts. A bill that would usher in new rules for both foreign-born tech talent and millions of undocumented immigrants in the U.S. has languished in the House of Representatives for months. On Monday, Obama was confronted with ominous news on the legislation after House Majority Leader John Boehner informed him that an existing immigration bill will not be brought to a vote by the end of 2014. “Last week he informed me that Republicans will continue to block immigration reform at least for the...
  • CURL: This is an actual quote from the president — really

    06/29/2014 5:45:58 PM PDT · by 2ndDivisionVet · 88 replies
    The Washington Times ^ | June 29, 2014 | Joseph Curl
    (VIDEO-AT-LINK)“By every economic measure, we are better off now than we were when I took office. You wouldn’t know it, but we are,” the president said Friday. That’s right, the president — the president of the United States, mind you — says Americans are better off, they just don’t know it. That is the height to which the president has raised his level of mendacity. He has the sheer audacity to tell Americans that he has successfully turned the economy around, that things are all good, but that there are no real quantifiable indicators by which they could ever know...
  • While Americans Lost Jobs, All Employment Growth Went to Immigrants

    06/28/2014 7:46:15 AM PDT · by SeekAndFind · 40 replies
    Frontpage Mag ^ | 06/28/2014 | Daniel Greenfield
    1 million immigrants a year isn’t enough for the cheap votes/cheap labor lobby. Their Super-Amnesty is determined to legalize another 12 million illegal aliens and import millions more using amnesty as a magnet.The current border crisis is only a small part of what will happen should Congress pass Super-Amnesty.Advocates of Super-Amnesty claim that immigration is an engine of job growth. It’s not. Cheap labor just undercuts the middle class while cheap votes passes the social welfare bill to that same middle class. All Employment Growth Since 2000 Went to Immigrants – Number of U.S.-born not working grew by 17 millionGovernment...
  • They Took Our Jobs! Study Finds ALL New Jobs Went to Immigrants

    06/27/2014 4:05:25 PM PDT · by 2ndDivisionVet · 25 replies
    The Independent Journal Review ^ | June 27, 2014 | SooperMexican
    A shocking new report from the Center for Immigration Studies claims to prove that every single new job created in America for the last fourteen years has gone to immigrants, legal and illegal. This would fly in the face of those who claim that immigration is an economic boon to native born Americans: The CIS report found that over the last 14 years, people who were born in the United States held 114.8 million jobs in 2000, and held 114.7 million jobs in 2014, a drop of 127,000. But it’s an entirely different picture for immigrants — 5.7 million more...
  • Work: A Job Americans Won’t Do? Why double immigration when so many people already aren’t working?

    06/27/2014 7:38:57 AM PDT · by SeekAndFind · 27 replies
    National Review ^ | 06/27/2014 | Steven Camarota
    Today is the first anniversary of the Senate’s passage of the Gang of Eight immigration bill (S.744). So it is fitting to remember just how out of touch that bill was with what is actually going on in the U.S. labor market. The labor-force participation of working-age native-born Americans (ages 16 to 65) is at a record low, and the number not in the labor force is at a record high. Yet the Gang of Eight bill would double the number of new legal immigrants allowed into the country over the next decade to 20 million, adding to the 40...
  • Weekly Jobless Claims Fall, Point to Firming Labor Market

    06/26/2014 6:24:12 AM PDT · by SeekAndFind · 18 replies
    Fox Business ^ | 06/26/2014
    The number of Americans filing new claims for unemployment benefits fell marginally last week, but continues to point to steadily improving labor market conditions. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 312,000 for the week ended June 21, the Labor Department said on Thursday. The prior week's claims were revised to show 2,000 more applications received than previously reported. Economists polled by Reuters had forecast first-time applications for jobless aid dipping to 310,000 last week. A Labor Department analyst said there were no special factors influencing the state level data. The four-week moving average for...
  • New Texas Jobs May Outnumber Qualified Workers

    06/25/2014 8:14:45 PM PDT · by 2ndDivisionVet · 10 replies
    Breitbart's Texas ^ | June 25, 2014 | Kristin Tate
    HOUSTON, Texas--The unemployment rate in Texas recently fell to a new five-year low, according to new statistics from the Federal Reserve Bank of Dallas. As business booms in the Lone Star State, many companies are in need of trained workers--most notably employers in the rapidly-expanding medical, gas, and oil fields. It is easy to imagine why a variety of industries continue to grow in Texas, as the state has consistently been one of the best places to start and expand businesses. Vance Ginn, an economist at the Texas Public Policy Foundation, told Breitbart Texas, "What we've seen is that the...
  • Obama Gets GDP Bassackward

    06/25/2014 6:14:31 PM PDT · by Kaslin · 15 replies
    Townhall.com ^ | June 25, 2014 | John Ransom
    This country is a bunch of lions led by donkeys, as the Germans said about the English Army in the first war. The latest Obama-related bray is the revised GDP numbers for the first quarter. Economists expected the economy to grow by 1.9% even after a discount for the cold weather. Instead the initial estimate saw a contraction of 1%. As we approached the revision to the initial estimate, we began hearing that perhaps things would be even worse in the next estimate. They were. The revision came in at a contraction of 2.9% for the first quarter. But...
  • What If There Were Too Many Jobs?

    06/22/2014 5:57:12 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | June 22. 2014 | Austin Hill
    What could possibly help elevate the earnings of entry-level workers better than a new minimum wage law? How about a thriving economy and near-zero unemployment! President John F. Kennedy once observed that improvements in the economy overall serve the interests of workers overall, and stated that "a rising tide lifts all ships." Today members of his own Democrat party tend to gravitate more to the rhetoric of Karl Marx ("abolish all private property" seems closer to President Obama's worldview than does JFK), and far too few Republicans care about Kennedy’s vision. But the wisdom of Kennedy is alive and well....
  • Sonoma County unemployment drops to six-year low

    06/20/2014 8:34:02 PM PDT · by rey · 5 replies
    Press Democrat ^ | June 20, 2014 | PAUL PAYNE
    Job growth accelerated in Sonoma County for the fourth consecutive month, dropping the county's unemployment rate in May to a six-year low, the state reported Friday. The county's jobless rate fell to 5.0 percent in May, down from 5.3 percent in April and 6.5 percent a year ago, the state Employment Development Department reported. It has not been this low since May 2008, when it also stood at 5.0 percent. The local economy created 3,400 jobs between April and May as employers expanded their payrolls for the fourth straight month. Since the beginning of the year, the economy has added...
  • US Jobless Claims Fall 6,000 To 312,000 In June 14 Week

    06/19/2014 6:35:37 AM PDT · by SeekAndFind · 18 replies
    MNI ^ | 06/19/2014 | By Ian McKendry
    WASHINGTON (MNI) - Initial jobless claims for U.S. state unemployment benefits fell by 6,000 to 312,000, in the June 14 week, the Labor Department reported Thursday. The 312,000 level of jobless claims was slightly better than the 314,000 median expectation from a forecast survey compiled by MNI. The June 7 week was revised up by 1,000 to 318,000. This weeks claims report also coincides with the week the BLS conducts the survey for the June employment report. Claims are down 15,000 from the comparable survey week in May and a Labor Department analyst said there were no special factors and...
  • Lost Jobs Are Simply 'Collateral Damage' To Environmentalists

    06/19/2014 6:32:19 AM PDT · by SeekAndFind · 9 replies
    IBD ^ | 06/19/2014
    The head of a leading environmental group recently defended job losses from the Obama administration's new anti-carbon regulations as "collateral damage" in the fight against global warming. Joseph Schumpeter must be turning over in his grave. Writing in the Huffington Post, William Becker of the Climate Action Project praised the new Environmental Protection Agency regulations to stop climate change, and wrote that "there is nothing explicit in the (Obama) plan to mitigate or adapt to the economic disruption the clean energy transition will cause for coal and oil-country families." These families thrown out of work, he said, are an "evolutionary...
  • Measuring Recovery? Count the Employed, Not the Unemployed

    06/18/2014 1:26:00 PM PDT · by SeekAndFind · 14 replies
    New York Times ^ | 06/18/2014 | Binyamin Appelbaum
    South Carolina’s unemployment rate dropped to 5.3 percent in April, lower than in December 2007, when it stood at 5.5 percent on the eve of the Great Recession. The share of South Carolina adults with jobs, however, has barely rebounded. As the chart below shows, the same contrast is visible in most states. Unemployment rates, the most familiar and famous of labor market indicators, are nearing pre-recession lows. But the shares of adults with jobs — or employment rates — look much less healthy. The reason is that the numbers are not quite two sides of a coin. The employment...
  • Obama's Economy: Where Did All The Young Workers Go?

    06/18/2014 5:18:01 AM PDT · by SeekAndFind · 77 replies
    IBD ^ | 06/18/2014 | Stephen Moore
    Economists are scratching their heads trying to figure out a puzzle in this recovery: Why are young people not working? People retiring at age 60 or even 55 in a weak economy is easy to understand. But at 25? The percentage of adult Americans who are working or looking for work now stands at 62.8%, a 36-year low and down more than 3 percentage points since late 2007, according to the Labor Department's May employment report. This is fairly well-known. What isn't so well-known is that a major reason for the decline is that fewer and fewer young people are...
  • The Big Freeze on hiring

    06/17/2014 4:55:14 AM PDT · by SeekAndFind · 28 replies
    Washington Post ^ | 06/17/2014 | Catherine Rampell
    I have some good news, and I have some bad news. First, the good news: Employers have more job openings today than they’ve had at any time since the Great Recession began. The bad news: Employers may be posting jobs, but they’re taking longer than ever before to fill them. It now takes 24 working days for the average job opening to be filled. That’s the longest hiring delay since at least 2001, the first year for which numbers are available, according to a recent report from Dice Holdings based on research by Steven J. Davis, R. Jason Faberman and...
  • U.S. retail sales miss expectations, jobless claims rise (Recovery Summer, Part IV!)

    06/12/2014 6:13:03 PM PDT · by Red in Blue PA · 21 replies
    WASHINGTON (Reuters) - U.S. retail sales rose less than expected in May and first-time applications for jobless benefits increased last week, but the data did little to alter views the economy is regaining steam. The Commerce Department said on Thursday that retail sales gained 0.3 percent. While that was below the 0.6 percent rise expected on Wall Street, April sales were revised higher to show a 0.5 percent increase, helping to keep growth forecasts intact.
  • This IT worker had to train an H-1B replacement

    06/12/2014 9:22:30 AM PDT · by RaveOn · 34 replies
    ComputerWorld ^ | June 10, 2014 | Patrick Thibodeau
    This is the story of an IT worker who was replaced by a worker on an H-1B visa, one of a number of visa holders, mostly from India, who took jobs at this U.S. company. Computerworld is not going to use the worker's name or identify the companies involved to protect the former employee from retaliation. For purposes of this story, the worker has been given initials -- A.B. (They're not the person's real initials.) At A.B.'s company, about 220 IT jobs have been lost to offshore outsourcing over the last year. A.B. is telling the story because, initially, there...
  • There's No Consensus About Unemployment

    With the government's latest monthly employment report, the American job market has entered a bewildering good news/bad news phase. The good news is that May's increase of 217,000 payroll jobs finally puts total employment above its pre-recession peak. There are 8.8 million more jobs than at the low point. Unemployment has dropped from 10 percent to 6.3 percent. Chief White House economist Jason Furman points out that monthly job gains have averaged nearly 200,000 in the past year and are trending up. And the bad news? There's plenty of that too. Economist Gary Burtless of the Brookings Institution notes that...
  • Applications for US unemployment benefits rise to 317k last week; still at pre-recession level

    06/12/2014 6:44:35 AM PDT · by SeekAndFind · 5 replies
    US News ^ | 06/12/2014
    More Americans filed for unemployment benefits last week, but claims for jobless aid remain near pre-recession levels. The Labor Department says weekly applications for unemployment benefits rose 4,000 to a seasonally adjusted 317,000. The four-week average, a less volatile measure, increased to 315,250. These figures are close to the jobless claims levels before the outbreak of the Great Recession in December 2007.
  • Sixty Months of Shameful, Anemic, Underperforming Job Numbers

    06/11/2014 9:01:40 AM PDT · by SeekAndFind · 1 replies
    Townhall ^ | 06/11/2014 | Donald Lambro
    The government reported last week that the economy created only 217,000 jobs in May, with hardly a peep of serious complaint from the White House or Democrats in Congress. The news media's economic reporters, who are usually given to whitewashing these dreadful jobs figures, said it was a sign the Obama economy is on the comeback trail. There were no fulminations from Democratic leaders that this was a shameful report in a rich, $17 trillion economy of about 160 million workers, many of whom still can't find good, full-time jobs. Senate Democratic Leader Harry Reid, whose home state of Nevada...