Tag: economy

Another Month, Another Mediocre Jobs Report

Sadly, I’ve written on this topic many times over the last 10 years. This time it’s the June employment report. I’ll let Bill McBride summarize it for you:

The good news: This was the best first half for private employment gains since 1999.  Also hourly and weekly wages increased 0.4% in June, and hourly wages are now up 2.2% over the last year (weekly wages are up 2.5% year-over-year).

Some bad news: the employment-population ratio for the 25 to 54 year old group (prime working age) declined, the number of part time workers (for economic reasons) increased and U-6 (an alternative measure of labor underutilization) increased to 14.3%.

Be sure to scroll down for The Scary Chart showing that there are still 2% fewer jobs than there were at the beginning of the Great Recession. At least — theoretically — there may have been enough jobs created to absorb the new people in the workplace. Or rather, there would have been if it hadn’t been June, a month when both high school and college graduations occur.

So let’s dig into the bad news. A lot of people are working part time because that’s the best they can do right now. Some employers think they are getting around benefits such as health care costs doing this, but the fact is that if the economy ever really recovers, workers will demand little things like full time work at decent wages with benefits.

Many of those workers are also in low wage jobs — or worse yet, temporary jobs that might vanish next month. It’s dishonest to say a job was “created” if it’s not worth actually hiring someone to do it. These are the kind of jobs where they can get away with giving workers a debit card instead of a paycheck, because they know the worker has no choice but to suck it up.

Now, I’m hesitant to bring up this story, but it seems that some “Doctors” licensed in other countries are having a hard time getting licensed here. I’m finding it difficult to swallow the idea that our standards are just too high for typical FMGs (Foreign Medical Grads). If Depak Desai could get licensed in the states, it can’t be that hard. However, these “doctors” are taking jobs that could be done by someone with a fraction of the education. Maybe we could find them jobs as medical or nursing assistants pending their actually passing the exams, and free up those menial jobs for others? At least this story is another stake in the heart of the idea that we need H1B guest workers.

The good news today masks another sad truth: the percentage of us “in the workforce” has declined. That means that more of us are staying home with the kids, more of us have gone back to school, more of us have tried to get disability benefits, and more of us have just plain given up on the idea of finding gainful employment.

I will wrap up with two related stories. First, unemployment benefits don’t increase unemployment, no matter what some conservatives want you to think. Second, some advice for the kids: employers don’t want to hear from or about your parents. Be a grown-up.

In Closing: All the NSA and Snowden you can stand; follow up on the 4th.

Springtime

IMG_20130412_115717

Taken in my back yard with a “potato”*. At least one lantana is starting to bloom, which means the hummingbird and butterfly buffet will soon be in full swing.

In Closing: Why doesn’t Johnny just go to broadway and get it over with?; Save Our Post Office; Wingnut screaming about how if we had Russian wiretap laws we could have prevented Boston in 3…2…1…; there just has to be a middle ground between “college for all” (value of a degree for none) and “you are clearly doomed to menial labor because of your race/ethnicity/gender”; the monolithic “left“; dumbass; Compare and Contrast.

* Derogatory term for certain cell phone cameras.

Music Monday: Daft Punk Returns

Hey Kanye: Imma let you finish, but “Isotoner” doesn’t rhyme with “told you.”

In Closing: I really, really wanted to say something about austerity last week and it didn’t happen (how could they have looked at this chart and not suspected an error??); this only works if every single person has a fully charged smart phone with texting and nothing bad happens to the cell towers; Go West; not much; yeah, people at the low end having a living wage probably would help the economy (nice side effect, might make young people need student loans less); and now under 250 calories.

When the Shorties Went Out

Gee, D’ya Think?: Turning underpaid undocumented workers into legal taxpayers making at least minimum wage could boost the economy.

I Could Like this Pope: Ok, he’s not perfect (No, I don’t believe in Papal Infallibility either). At least he has no Nazi entanglements, what with having been a little kid on the other side of the globe during World War 2. But there’s something to be said for a Pope who preaches things like taking care of the environment and those less fortunate than ourselves. It’s like he’s been reading some sort of… Bible or something.

Nevada is Catching On: I think we may just pass a legal marijuana bill here, mostly because the Legislature smells tax dollars.

Turns out it’s easier for everyone: When I was a kid in school, we were “tracked by ability” and we all knew it. Nobody ever told us there were the “smart kids,” the “average kids,” and the “dummies,” but we all knew who we were — and among ourselves, those were the names we used. No “bluebirds and redbirds” for us. That sort of self-labeling might be part of why schools discarded the practice. But it’s back. It has to be easier to teach (and learn in) a group of 20 kids with similar abilities than 20 kids that are all over the map!

Gonna have to try this: Veggie oil + baking soda = cabinet cleaner.

Security Theatre: The TSA is protecting us from people on trains who have had medical tests.

Considering a career in criminal justice?: Then please do check out DiscoverCriminalJustice.com.

On Perception of Aging: And why a good lipstick is really important.

Top Ten Candidates for Species Resurrection: Scientists think there is hope for bringing back these extinct animals.

The more you know: Failure to use a condom when planned counts as condom failure.

Who knew?: Big cats like classical music.

And finally: It’s coming. It’s slow, but it’s coming.

Ides of March

Pi Day is over. Today is the anniversary of the assassination of Julius Caesar in 44 BC.  To the best of my knowledge, Caesars Palace is not planning any memorial events. A friend has suggested not celebrating with a salad.

In Closing: three political cartoons (render unto Caesar, eh?); oops, turns out the samples from Lake Vostok were contaminated; Yay! Vegas is not number one!; on the interpretation of study data; grumble; double a small number is still pretty small; wow; comfortable workers work harder (attention, Yahoo); hard to save anything when there’s nothing left; totally bombed; cord cutting; when there is no market, market forces don’t act.

 

Quite Possibly the Most Offensive Christmas Song Ever

Don’t play it if you don’t have a sense of humor. Don’t play it if you don’t want to hear “bad words.” You probably shouldn’t play it at work.

 

In Closing: the choice to fail; the majority of Americans want common sense; tweeting pope; and you thought American banks were bad; on the economy; explaining Iceland; let me save you some reading; NDAA sucks and the new version is no better; “And when a story has enough obvious holes in it that small children roll their eyes, its literal truth is going to be a tough sell”; all the econo-talk you can stand in one place; on Grover Norquist; avoiding the cliff; and the smartest thing I ever read about small business taxes is “My company and my competitors never made a decision based on taxes.  They made decisions incorporating what the tax structure is because we can’t change it.”

Happy Thanksgiving

 

In Closing: That would be bad; Googlegator; Japan Crush; Rolling Jubilee gets more press; the last cooler than average month was during the Reagan Administration (maybe hell froze over when he compromised with Democrats or raised taxes?); Lost Decade, American Style; Forbes and USA Today disagree on the buyer, but agree that somebody will make your freaking Twinkies (and screw workers in the process); of course, you could just make your own freaking Twinkies; maybe if the so-called adults made it clear that we must treat others with respect, this wouldn’t be a problem; vintage pictures of Japan; Susie’s right; so is Robert.

Beneath the Shorties

LOL: Enjoy this meme while you can, I figure it’s dead in 3 weeks.

They just keep coming: Remember, the plot to kill Big Bird is still in play. There’s a Million Muppet March planned.

Twelve! Meeeeelion! Jobs!!!: Yeah, so?

Get it off me! Get it get it get it….: Is it just me, or does Mr. Romney look uncomfortable in this picture? You don’t suppose it could be that he’s being touched by a black man, do you?

Beating the dead dressage horse: What Romney’s tax “plan” could do to housing.

If you like it then you shoulda put a ring on it: Scientists found a planet twice the size of Earth, largely made of diamond. Good thing it’s far enough away that DeBeers can’t get hold of it!

Like you needed an economist to tell you that: Your paycheck is being outstripped by inflation. So if low interest rates are supposedly the cure for inflation, what the heck is the Fed going to do now??

But apparently some people do need an economist to tell you this: Here’s why cutting taxes never has and never will create jobs.

Gee, maybe saying “no” wasn’t such a good strategy: Failing to pass a Big Agriculture Giveaway  Farm Bill before leaving Washington gave some Democrats an upper hand.

Judges judge things: An Appeals Court has ruled part of the Defense of Marriage Act unconstitutional.

Unexpected Excitement: Passengers on a Canadian airliner helped save a boater’s life. That beats most in-flight movies.

Wheat Ain’t What It Was: On modern wheat.

Not sure how to get out of this mess: Two out of three new college grads has college loan debt, and the average amount is $26,600. The scary part is that many of them won’t be getting jobs anytime soon. Just a reminder, it would take 3668 hours at minimum wage to pay that off. That’s 152 days of nonstop 24/7 labor. And it won’t be wiped out by bankruptcy.

Newsweek: will stop printing a paper edition.

But what about the economy?: Here’s an outline of the risks.

“The other 1%”: 2/3 of the bottom 1% of Americans are in prison.

Turns out it won’t turn good girls into sluts: Girls who get the HPV vaccine are not more likely to have sex.

Carbs: “People 70 and older who eat food high in carbohydrates have nearly four times the risk of developing mild cognitive impairment, and the danger also rises with a diet heavy in sugar, Mayo Clinic researchers have found. Those who consume a lot of protein and fat relative to carbohydrates are less likely to become cognitively impaired, the study found.”

And it turns out that Doing Good might Make More Money: At least that’s Coca-Cola’s theory.

Time’s Wasting

Congress is officially out for the year. It’s the earliest departure in over 50 years, and the least productive Congress since World War 2. But there’s no point in beating your head against a wall to do nothing. Besides, by adjourning early, Harry Reid gave Scott Brown no excuse to miss his debate with Elizabeth Warren!

However, I must point out that Congress left a number of things undone before leaving town. Sure, maybe they’ll have better luck in the new Congress come January but I doubt it. Here’s just a few things:

  • They refused to vote on a bipartisan compromise farm bill that would have reformed agricultural subsidies and “food stamps.” Now we revert back to a bill from 1949.
  • They didn’t do anything about the massive looming cuts in public health and science.
  • They may yet find a way to weasel off the “fiscal cliff” by delaying it. And of course it’s easy to delay it again. And again….
  • They saved trade with Russia for later.
  • They haven’t passed a long overdue transportation bill.
  • They didn’t pass a budget, despite the fact that the new fiscal year starts a week from Monday
  • They have yet to do the will of the people and completely drive a stake through the heart of SOPA.
  • They have not extended the Mortgage Forgiveness Debt Relief Act — one of the good pieces of legislation to come through on GW’s watch.
  • And as they say on the infomercial, many many more.

Remember Come November. Register to vote NOW.

In Closing: radical Islamic cleric almost foils FBI terrorist sting; way to report “news,” CNN; didn’t Jesus say something removing the plank from your own eye first?; hope she got the job; 30 years of emoticons; now he says it; ha, if they had a clue I would still be driving their cars; and desert blooms.