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Keyword: unemployment

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  • VANITY: When did the government begin separating unemployment into 6 categories, U1 through U6?

    05/02/2016 8:53:11 AM PDT · by RavenATB · 24 replies
    none
    I'm in a discussion about unemployment, and my "opponent" just declared that U3 Unemployment calculation has been the official measurement of unemployment for every president. Obviously, that's ridiculously wrong. But I was looking for a data point to help me drive that fact home, and I can't seem to find anything specific on when the US government began separating unemployment calculation into six categories, U1-U6, and specifically when the U3/U6 categories were established and first used. Do any of you have any information on this, and can you provide a source link? Thank you.
  • Automating Ourselves To Unemployment: How shortsighted policies are creating a long-term crisis

    04/28/2016 2:51:54 PM PDT · by SeekAndFind · 14 replies
    Peak Prosperity ^ | 04/28/2016 | Adam Taggart
    Students of Austrian business cycle theory are familiar with the term malinvestment. A malinvestment is any poor use of resources or capital, commonly made in response to bad policy (usually artificially low interest rates and/or unsustainable increases in the monetary supply). The dot-com bubble that popped in 2001? The housing bubble that similarly burst in 2008? Those were classic examples of malinvestment.With this article, I'd like to introduce a related term: malincentive. While not part of the official economic lexicon, I consider a 'malincentive' a useful word to describe any promise of short-term gain whose long-term costs outweigh any...
  • A Retrospective On Obamas Economic Prowess

    04/28/2016 8:57:42 AM PDT · by NOBO2012 · 4 replies
    Michelle Obama's Mirror ^ | 4-28-2016 | MOTUS
    Make no mistake: Barry is a just a little economic genius. New York Times Magazine Sunday May 1, 2016Well of course he has a theory. Barrys got a theory about everything, every one of which has been or will be proven absolutely positively wrong. Butt we wont let that stop a good story its the Old Gray Lady and you know what their motto is: We were moving so fast early on that we couldnt take victory laps. We couldnt explain everything we were doing. I mean, one day were saving the banks; the next day were saving the...
  • In 1 Out Of Every 5 American Families, Nobody Has A Job

    04/27/2016 6:20:35 PM PDT · by SeekAndFind · 24 replies
    TEC ^ | 04/27/2016 | Michael Snyder
    If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring...
  • Joblessness is Killing People

    04/26/2016 11:37:09 PM PDT · by Tyrconnell · 40 replies
    The New York Sun ^ | April 26, 2016 | BETSY McCAUGHEY
    Soaring Suicides Emerge As a National Crisis Laid to Economic Stall Middle aged people laid off and unable to find work are taking another way out. Theyre killing themselves. Suicide rates are soaring, according to federal data released last week. ... People in need of work are twice as likely to take their own lives as employed people, and people fired in their forties and fifties find it hardest to get hired again. That makes boosting economic growth a life- and- death issue.
  • Is There A Problem With The BLS Employment Reports?

    <p>Yes, there has definitely been an improvement in the labor market since the financial crisis. I am not arguing that point.The financial markets, investors, and analysts eagerly anticipate the release of the employment report each month while the Federal Reserve has staked its monetary policy actions on them as well.</p>
  • 5 shocking examples of H-1B visa program abuse; How they are causing mass layoffs in America

    04/14/2016 6:58:05 AM PDT · by SeekAndFind · 61 replies
    CIO ^ | 07/09/2015 | By Sharon Florentine, CIO
    The H-1B visa program was designed to encourage highly skilled foreign workers to put down roots in the U.S. and spur innovation. However, many IT firms are twisting the intent of the program, and using it to hire inexperienced workers at lower pay. Here are five highly publicized instances of H-1B visa abuse. Companies claim there just aren't enough highly skilled IT workers in the U.S. to fill the number of available tech jobs. Perhaps what they really mean is that there aren't enough highly skilled U.S. IT workers willing to work for lower wages and zero benefits. While there...
  • The Minimum Wage: Destruction Disguised as Justice

    04/08/2016 1:37:42 PM PDT · by jfd1776 · 13 replies
    Illinois Review ^ | April 8, 2016 A.D. | John F. Di Leo
    As cities contemplated doubling their minimum wage, conservatives warned that employers would flee. And thats exactly what happened. Then as states contemplated doubling their statewide minimum wage, conservatives warned them again; but again their warnings were drowned out in the cacophonies of popular liberalism. So now California companies are already collecting bids from moving companies, and ordering new stationery for new digs in Arizona, Nevada, and of course, Texas. The destruction that minimum wage increases cause is no longer even denied by the left. Their politicians happily proudly admit the damage they do, even as they inflict these pains on...
  • Payrolls Rise 215K In March, Beat Expectations As Average Hourly Earnings, Unemployment Rise

    04/01/2016 7:32:10 AM PDT · by SeekAndFind · 9 replies
    Zero Hedge ^ | 04/01/2016 | Tyler Durden
    And so the confusion remains: why did Yellen go uber dove three days ahead of a day in which the BLS reported that in March not only were 215K jobs created, more than the consensus 205K, if below last month's 245K, but in which average hourly earnings rebounded a solid 0.3%, above the 0.2% expected, and well above last month's -0.1% decline. Payrolls: Wages: However, the fly in the the ointment was that the unemployment rate picked up modestly from 4.9% to an above expectations 5.0%. This was due to a modest increase in the participation rate to 63%...
  • Jobless Claims Surge Most In 2 Years As Challenger Warns Of "Significant" Jump In Retail, Layoffs

    03/31/2016 7:58:47 AM PDT · by SeekAndFind · 12 replies
    Zero Hedge ^ | 03/31/2016 | Tyler Durden
    With both ISM Manufacturing and Services employment indices collapsing, endless headlines of layoffs, Challenger-Grey noting Q1 as the worst since 2009, and NFIB small business hiring weak, it is no surprise that initial jobless claims is finally waking up. For the 3rd week in a row - the longest streak since July 2015. The last 3 weeks have seen a 9.1% surge in jobless claims - the biggest such rise since April 2014.And finally, as Challenger-Grey notes, Through the first quarter of 2016, employers announced 184,920 job cuts, up 31.8 percent from the 140,241 cuts tracked the first three...
  • US applications for jobless aid rise, but still near lows

    03/31/2016 6:13:55 AM PDT · by Olog-hai · 5 replies
    Associated Press ^ | Mar 31, 2016 8:35 AM EDT | Josh Boak
    More Americans sought unemployment benefits last week, but applications still stayed near historic lows that point to a stable job market. [] Weekly jobless claims have remained below the crucial threshold of 300,000 for more than a year, a level that usually corresponds with monthly gains in excess of 200,000. Economists expect that Fridays jobs report will show that employers hired roughly 200,000 workers in February as the unemployment rate held at an eight-year low of 4.9 percent.
  • 23 Percent Of Americans In Their Prime Working Years Are Unemployed

    03/29/2016 9:05:25 AM PDT · by SeekAndFind · 19 replies
    TEC ^ | 03/29/2016 | Michael Snyder
    Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million working age Americans that do not have a job right now? I have written about this before, but today I want to focus just on Americans that are in their prime working years. When you look at only Americans that are from age 25 to age 54, 23.2 percent...
  • Calif. to raise minimum wage to $15: reports

    03/26/2016 9:51:02 PM PDT · by 2ndDivisionVet · 44 replies
    The Hill's Briefing Room ^ | March 26, 2016 | Evelyn Rupert
    California lawmakers and union leaders have reached a tentative deal to raise the state minimum wage to $15 an hour over the next several years, the Los Angeles Times reports. Gov. Jerry Brown (D) is expected to make the formal announcement as early as Monday. According to the L.A. Times, the minimum wage will jump from $10 to $10.50 an hour in 2017 and will increase by $1 every year after that until reaching $15 an hour in 2022. Business with fewer than 25 employees will have an extra year to comply. "The governor and stakeholders have all been negotiating...
  • US weekly jobless claims total 265,000 vs 268,000 estimate

    03/24/2016 6:18:39 AM PDT · by mykroar · 5 replies
    CNBC.com ^ | 3/24/2016 | Reuters
    The number of Americans filing for unemployment benefits rose modestly last week while revisions for prior weeks showed the labor market was much stronger than previously thought. Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 265,000 for the week ended March 19, the Labor Department said on Thursday. The prior week's claims were revised to show 6,000 fewer applications received than previously reported. Economists polled by Reuters had forecast claims rising to 268,000 in the latest week. The government also revised data going back to 2011, which showed claims trending lower than previously reported. Claims for...
  • Black Trump Backer Says Open Borders Are Crushing Black Employment

    03/19/2016 6:54:01 PM PDT · by Albion Wilde · 47 replies
    Breitbart News ^ | March 189. 2016 | Breitbart video interviewer
    A black Donald Trump supporter told Breitbart News that a border wall was necessary to get black Americans back into work, citing Harlems construction industry.
  • 4.9 Percent Unemployment Rate? Over 80% Of Jobs Added In January Were Minimum Wage Earners

    03/04/2016 7:47:55 AM PST · by SeekAndFind · 20 replies
    Zero Hedge ^ | 03/04/2016 | Tyler Durden
    Jobs were good; earnings were a disaster - that's the best summary of today's jobs report. As we noted earlier, February suffered the biggest ever monthly drop in average weekly earnings, because not only did hourly earnings drop but so did hours worked, resulting in far lower overall weekly wages. What caused this? Nothing our readers don't already know: recall that in January, "70% Of Jobs Added In January Were Minimum Wage Waiters And Retail Workers."February was even worse: most of the jobs that were created, if only on a goalseeked, seasonally adjusted basis, were of the lowest paying,...
  • US adds a strong 242,000 jobs February; Unemployment rate holds at low 4.9 pct.

    03/04/2016 6:39:31 AM PST · by SeekAndFind · 33 replies
    Pittsburgh Post Gazette ^ | 03/04/2016 | JOSH BOAK AP
    U.S. employers added a robust 242,000 workers in February as retailers, restaurants and health care providers drove another solid month for the resilient American job market. Retailers, restaurants and health care providers drove another solid month for the resilient American job market. The unemployment rate held steady at a low 4.9 percent. The Labor Department on Friday also revised up its estimated job growth for December and January by a combined 30,000. Over the past three months, U.S. employers have added a strong 228,000 to their payrolls. The pickup in job gains shows that the U.S. economy has weathered a...
  • Food Stamp Users Near Record High Despite Low Unemployment Rate

    03/01/2016 10:20:20 AM PST · by Olog-hai · 43 replies
    MRC TV ^ | 02/29/2016 | Nick Kangadis
    Despite the unemployment rate being at an eight-year low (4.9 percent as of January 2016), the number of people on food stamps remains near an all-time high which was 47,636,000 in 2013. Why the disparity in the numbers? Well, the unemployment rate does not take into account people who are not in, or have dropped out of, the workforce altogether. The Bureau of Labor Statistics reported in January of this year that approximately 94 million Americans are not participating in the workforce. But the Supplemental Nutrition Assistance Program (SNAP) has been hovering around 46 million participants since 2011. ...
  • The Meanings of California’s Low Labor Force Participation Rate

    02/17/2016 8:29:52 AM PST · by SeekAndFind · 3 replies
    Foxes and Hounds ^ | 02/17/2016 | Michael Bernick, Former California Employment Development Department Director
    The most recent data on California’s labor force participation rate (the percentage of California adults employed or looking for work) show the rate continuing to decline the past few years, even as job growth is very strong. Why is this? Should workforce practitioners and policymakers in California be concerned? How much does the rate represent increased discouragement among our workforce?Let’s start with the data, turning to EDD’s Labor Market Information Division. Mr. Brandon Hooker of the Division has compiled the chart above (click to enlarge) that tracks the declining labor force participation rate in California since December 2007. The rate...
  • Shadow-Stats: Obama's real unemployment rate almost 25%!

    02/13/2016 3:24:01 PM PST · by Javeth · 6 replies
    Shadow-Stats ^ | February 5th, 2016 | Jon Williams
    The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers. The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
  • The Real Jobless Rate Is 42 Percent? Donald Trump Has a Point, Sort Of

    02/11/2016 6:49:44 AM PST · by SeekAndFind · 15 replies
    New York Times ^ | 02/11/2016 | Neil Irwin
    Donald Trump seems quite certain that the real unemployment rate is higher than the 4.9 percent that the Bureau of Labor Statistics has reported it to be. A lot higher. "Don't believe these phony numbers when you hear 4.9 and 5 percent unemployment," Mr. Trump said in his victory speech after the New Hampshire primary Tuesday night. "The number's probably 28, 29, as high as 35. In fact, I even heard recently 42 percent." Mr. Trump might be bombastic, but he's not entirely wrong. And the ways in which he is wrong are actually useful for anyone who wants to...
  • Americans are quitting their jobs like crazy

    02/09/2016 8:07:31 AM PST · by SeekAndFind · 33 replies
    Business Insider ^ | 02/09/2016 | Akin Oyedele
    Americans are quitting their jobs like crazy, and this is good news for wages. The latest monthly "Job Openings and Labor Turnover Survey" (JOLTS) showed that in December, the total number of quits was 3.1 million, the highest level in a decade, while the quits rate was 2.1%, the highest since April 2008. This rate, which takes the number of quits divided by the number of employees who worked or were paid for work, is one of the labor-market metrics most closely watched by Federal Reserve chairwoman Janet Yellen. If people are quitting their jobs, it suggests that they are...
  • Study of USDL Data, Reveals Unemployment at 22.95% Due to Sub Par Job Growth

    02/09/2016 12:51:03 PM PST · by DoughtyOne · 18 replies
    My own workup ^ | 02/09/2016 | DoughtyOne / for Free Republic
  • More jobs than job seekers bodes well for U.S. labor force in 2016, expert says

    02/09/2016 8:04:17 AM PST · by SeekAndFind · 50 replies
    Daily News ^ | 02/09/2016 | BY DR. STEVEN LINDNER
    Although stock portfolios may be looking bleak with the sudden fall in the market indices, employment prospects for job seekers have never looked better. I don't have a crystal ball, but there are some strong indicators that 2016 has much to offer in terms of achieving our career aspirations. Currently there are more jobs available than job seekers. According to the U.S. Department of Labor, the current unemployment rate is trending downward, a positive sign for all us -- it was 4.9% in January, down from 5% the previous month. In some parts of our country, we have unemployment rates...
  • Dwindling Jobs... And Attacking the Producers

    02/07/2016 8:54:16 PM PST · by jfd1776 · 8 replies
    Illinois Review ^ | February 6, 2016 A.D. | John F. Di Leo
    How would you react to the following news stories? Former Shoppers Fined $5,000 for No Longer Frequenting Nearby Mall Residents of Anytown, USA were surprised to receive invoices in the mail from their local county government Friday. The county identified people who used to shop in the local mall but, due to reports of muggings, rapes, and vehicle theft at the mall, switched to shopping at other, safer malls, or just doing it online. The thousand dollar a year fine was based on the estimated amount of revenue the mall says it lost due to their departure. Professional economists, when...
  • 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...
  • Obama Quips That New Low Unemployment Number Is 'Inconvenient' For Republican Candidates

    02/05/2016 1:25:44 PM PST · by Kaslin · 36 replies
    Townhall.com ^ | February 5, 2016 | Cortney O'Brien
    "Americans are working," President Obama proudly declared at a White House press conference Friday morning. He was referring to the new jobs report that revealed unemployment has dropped to 4.9 percent - the first time it's fallen below 5 percent in 8 years. The president also remarked on how his administration has added 14 million new jobs over his tenure and that over the past 6 months wages have risen at an impressive rate. He couldn't help pointing to falling gas prices as well. After gleefully sharing these new numbers, Obama quipped that the supposedly successful economy is "inconvenient" for...
  • Obama's Unemployment Sleight of Hand

    02/05/2016 1:41:51 PM PST · by Kaslin · 14 replies
    Townhall.com ^ | February 5, 2016 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: We have an audio sound bite here from Obama, the press conference I mentioned an hour ago. He went out there and he was praising his economy. He was heralding first-time unemployment rate as being under 5% for the first time in seven years. That's essentially since he took office. The first time. When have you ever heard that referred to: "The first-time unemployment rate is now at 4.9%"? What's that? Does anybody have any memory of hearing the unemployment rate referred to as "the first-time unemployment rate"? Well, there's a reason he said it. It's because...
  • 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...
  • Getting away with a bogus unemployment rate. Why?

    02/05/2016 3:08:27 PM PST · by From The Deer Stand · 39 replies
    Local | February 5, 2016 | From The Deer Stand
    The government (Obama administration) reported that only 151,000 jobs were created last month and that the unemployment rate DROPPED to 4.9%, the lowest in 10 years. We all know that is bogus as they don't count the millions who are unemployed but are not looking for work. How do they get away with giving out false information? Of course we know the main stream media won't challenge them but what about our pundits and politicians?
  • U.S. labor market on solid ground as jobless rate hits eight-year low

    02/05/2016 1:16:06 PM PST · by Rockitz · 16 replies
    Reuters via Yahoo ^ | February 5, 2016 | Lucia Mutikani
    WASHINGTON (Reuters) - U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Non-farm payrolls increased by 151,000 jobs and the unemployment rate slipped one-tenth of a percentage point to 4.9 percent, the lowest since February 2008, the Labor Department said on Friday. The payrolls gain was a sharp step-down from the average 231,000 jobs per month during the fourth quarter. "The fact that payroll gains fell back to earth is not necessarily...
  • 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...
  • 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...
  • Sanders' Tax Hike to Cost 6 Million Jobs [semi-satire]

    01/30/2016 9:13:32 AM PST · by John Semmens
    Semi-News/Semi-Satire ^ | 31 Jan 2016 | John Semmens
    An analysis undertaken by the Tax Foundation estimates that the tax increases promised by Democratic presidential candidate Sen. Bernie Sanders (S-Vt) will cut economic growth by more than 9% and result in 6 million fewer full-time jobs. "Sanders' plan would significantly increase marginal tax rates on capital and labor income, which would result in a substantial reduction of the size of the U.S. economy in the long run," authors Alan Cole and Scott Greenberg asserted. Sanders' campaign manager Jeff Weaver pooh-poohed the report quoting economist John Maynard Keynes' observation that "in the long run we are all dead. At 74...
  • 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.
  • Why Do They Lie to Us Over and Over?

    01/22/2016 12:51:49 PM PST · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 01/22/16 | Dr. Robert Owens
    The major media has morphed from a watchdog to a lapdog barking on cue that everything is all right, there's nothing to see here, move along Joseph Goebbels, Hitler’s Minister of Propaganda said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal...
  • 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...
  • UN chief alarmed at prospect of rising global unemployment

    01/20/2016 9:29:46 PM PST · by Olog-hai · 11 replies
    Associated Press ^ | Jan 20, 2016 7:20 PM EST | Edith M. Lederer
    Secretary-General Ban Ki-moon's spokesman said Wednesday that projections for rising global unemployment over the next two years are "alarming" and the U.N. chief will keep pushing for job opportunities, especially for youth. The comments from deputy spokesman Farhan Haq were in response to a new report from the U.N. labor agency projecting that the number of unemployed people will increase by nearly 2.3 million in 2016 and 1.1 million in 2017 as a result of the global economic slowdown last year. Haq said Ban has been raising the need for new jobs in discussions with business leaders and others at...
  • Quitters Prosper:...allow workers who quit their jobs to collect unemployment insurance [tr]

    01/20/2016 7:20:52 AM PST · by C19fan · 21 replies
    Democracy: A Journal of Ideas ^ | January 11, 2016 | Nick Bunker
    Numbers from Friday’s jobs report underscores a persistent problem for the U.S. economy: Wages aren’t growing fast enough for most Americans. According to the data for December, the average wage for all workers grew at 2.5 percent over the last year, before accounting for inflation. Healthy wage growth would be somewhere in the range of 3.5-4 percent. How can we get to that level of wage growth? A number of proposals have been floated by economists and politicians across the political spectrum. But there’s one minor fix we can implement that could have major implications: allow workers who quit their...
  • Redo of a classic...unemployment figure manipulation

    01/17/2016 3:01:13 PM PST · by granite · 7 replies
    1/17/2016
    COSTELLO: I want to talk about the unemployment rate in America . ABBOTT: Good Subject. Terrible Times. It's 5.6%. COSTELLO: That many people are out of work? ABBOTT: No, that's 23%. COSTELLO: You just said 5.6%. ABBOTT: 5.6% Unemployed. COSTELLO: Right 5.6% out of work. ABBOTT: No, that's 23%. COSTELLO: Okay, so it's 23% unemployed. ABBOTT: No, that's 5.6%. COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%? ABBOTT: 5.6% are unemployed. 23% are out of work. COSTELLO: If you are out of work you are unemployed. ABBOTT: No, Obama said you can't count the "Out of Work" as the...
  • Obama unveils plan to reform unemployment insurance [passing out $$ we don't have]

    01/17/2016 1:53:36 AM PST · by Cincinatus' Wife · 23 replies
    The Hill ^ | January 16, 2016 | Bradford Richardson
    President Obama on Saturday unveiled an unemployment insurance plan that he says will provide stability and opportunity to workers in a rapidly changing economy. The president's three-pronged plan includes wage insurance of up to $10,000 over two years, expanded unemployment insurance coverage and more opportunities for laid off workers to retrain and reenter the workforce. "If a hardworking American loses her job, regardless of what state she lives in, we should make sure she can get unemployment insurance and some help to retrain for her next job," Obama said in his weekly address. "It's a way to give families some...
  • US weekly jobless claims total 284,000 vs 275,000 estimate

    01/14/2016 7:22:53 AM PST · by mykroar · 6 replies
    CNBC.com ^ | 1/14/2016 | Reuters
    The number of Americans filing for unemployment benefits unexpectedly rose last week, but remained below levels associated with a healthy labor market. Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 284,000 for the week ended Jan. 9, the Labor Department said on Thursday. The prior week's claims were unrevised.Still, it was the 45th consecutive week that claims remained below the 300,000 mark, which is associated with strong labor market conditions. That is the longest such stretch since the early 1970s. Economists polled by Reuters had forecast claims slipping to 275,000 in the latest week. The increase...
  • 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...
  • 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...