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unemployment

mellon's picture

Are US politicians just pretending to be ignorant about exponential growth in technology and its implications for society re: the future of work? Or are they in fact, ignorant?

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Science builds on itself and the more we know, the faster we learn more. Most of us must know this fact- which leads us in lots of directions. Here's a very important one. Read below the fold...

The Jobs Report For March 2014: After A Long Winter, The Economy Plays Some Catchup

The Brief Version

The usual seasonal spring rebuild in jobs was delayed a little this year due to the extended and severe winter. In March, some of this ground was recovered making it a particularly good month in seasonal terms. The labor force grew 600,000. This increase was comprised of a 956,000 rise in employment and a 356,000 drop in unemployment. What this means is that for each unemployed person who found work in March, two who were not counted in the labor force at all found work. Read below the fold...

BLS Jobs Report Covering January 2014: Revisions and Seasonal Lows

The Brief Version

Because of yearly revisions, direct December-January comparisons are dicey. I will just note that, in the business survey, seasonally adjusted 197,000 jobs were added December 2012-January 2013 as compared with 113,000 this month, December 2013-January 2014. Keep in mind that anything below 200,000 is weak, and anything below 150,000 is bad. Read below the fold...

Obama, the Liar, Spins the SOTU

I didn’t watch Obama’s State of the Union address on television tonight. My stomach was not strong enough. (Reminiscent of how Bush’s TV appearances also induced nausea in me.)

Just a little while ago I abandoned the balance of my cappuccino in an upper East Side diner because Obama’s voice from a wall TV screen in the back ambushed me. The manager/owner hustled over to the front cash register to process my check.

“I came out tonight to ESCAPE Obama!” I scolded

He wagged a finger in my face angrily. “Hey, I’m just watching to see his nose grow!” Read below the fold...

The BLS Jobs Report Covering December 2013: A Bad Report

The short story is this. In the Household survey, seasonally adjusted unemployment fell an incredible three-tenths of a percent to 6.7% in December. The labor force is around 155 million. 0.3% of that is around 450,000 workers. In fact, it was 490,000. Yet the Business survey reported, also seasonally adjusted, an increase of just 74,000 as compared to the upwardly revised November number of 241,000. Read below the fold...

The BLS Report Covering November 2013: Effects of the Government Shutdown Fade, Part Time Work Increases

In the household survey on employment, seasonally unadjusted, the October government shutdown took out expected October highs and created losses in numerous categories. In November, these were largely reversed. The biggest ongoing hit is to the labor force which is still 490,000 smaller than it was in September. And while employment increased, unadjusted, 631,000, most of this was in part time jobs (554,000). Read below the fold...

The BLS Jobs Report Covering October 2013: Effects of the Shutdown Mostly Hidden But Still Large

The October 2013 shutdown of the federal government affected seasonally unadjusted data in the Household survey only. It did not affect seasonally adjusted data in the Household survey or any data, adjusted or unadjusted, in the Establishment survey. Since official numbers, like the unemployment rate (7.3%) and jobs created (204,000), are seasonally adjusted, no effect from the government shutdown will be seen in them. Read below the fold...

letsgetitdone's picture

The Five Worst Reasons Why the National Debt Should Matter To You: Part Two, the Record Since 1930

In Part One, of a critique of the most important of "Fix the Debt's" reasons for "Why the National Debt Should Matter To You," I asserted that high debt levels haven't caused high unemployment in the United States, and that, if anything causation was in the other direction. I didn't want to disturb the flow of the argument there with a relatively lengthy survey of some of the numbers in the historical record since the 1930s. But let's test the idea that High debt causes fewer jobs and lower wages in the United States by looking at that record now. Read below the fold...

letsgetitdone's picture

The Five Worst Reasons Why the National Debt Should Matter To You: Part One, High Debt Levels and Jobs

I came across a post from the “Fix the Debt” campaign last month called “The Top Five Worst Reasons Why the National Debt Should Matter to You.” It's a post full of debt/deficit lies that cry out for correction. That's what I'll provide in this series. Read below the fold...

The BLS Jobs Report Covering July 2013: Slow Build But In Poor Quality Jobs

The short version:
In July, unemployment fell to 7.4%. This was because the labor force seasonally adjusted (trendline) was largely unchanged and so most of the 227,000 increase in employment came from net hiring among the unemployed and not those entering the labor force. Employment remains 2 million below the last peak in January 2008. Read below the fold...

BLS Jobs Report Covering June 2013: Seasonal Factors Rule At The Summer Peak

The short version:
Seasonally adjusted, June was not a bad month for jobs, and with the revisions to April and May, job creation has been near 195,000/month for the last three months. However, we need about 90,000 a month to keep up with population growth. So we are talking about 100,000 a month over and above population growth. And we are still some 2.3 million jobs below the November 2007 peak in jobs. So it would take us nearly two years of such growth to get back to where we were 5 1/2 years ago. Read below the fold...

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