Jobs

Next Shoe to Drop in Broke California’s Lopsided ‘Recovery’

by Wolf Richter •  • Comments Off on Next Shoe to Drop in Broke California’s Lopsided ‘Recovery’

If you come to San Francisco or Silicon Valley and look around, you’d think California is booming, that companies jump through hoops to hire people, that they douse them with money, stock options, and free lunches. And some do. But in other parts of the state?

Does QE Boost Employment? (Somebody Should Send This To Yellen)

by Contributor •  • Comments Off on Does QE Boost Employment? (Somebody Should Send This To Yellen)

By Lee Adler, The Wall Street Examiner: Overlaying raw employment data from the Bureau of Labor Statistics with the Fed’s balance sheet offers surprising insights. Brief must-see video with excellent chart and explanation. Somebody should send it to Yellen.

Spain, No Country For Young Men

by Don Quijones •  • Comments Off on Spain, No Country For Young Men

By Don Quijones: Despite a miraculous economic “recovery,” EU-wide youth unemployment hit 24%. New records were set in Spain (56.5%), Greece (57.3%), Italy (40%), and France (26%). The warnings from history are clear: governments that allow youth unemployment to escalate, do so at their own peril.

On The Surface, There’s Nothing Perturbing In The Challenger Job Cut Report

by Wolf Richter •  • Comments Off on On The Surface, There’s Nothing Perturbing In The Challenger Job Cut Report

In terms of announced mass layoffs, 2013 is shaping up to be the best year since 1997. Overall, employers aren’t shedding lots of jobs. But glitter in some sectors covers up aggressive, permanent job destruction in other sectors – where the sky used to be the limit.

Politicians Are All Jabbering About Creating Jobs (Doing What?)

by James Murray •  • Comments Off on Politicians Are All Jabbering About Creating Jobs (Doing What?)

By James Murray: Computer power has reached the point where almost anything can be automated, and computer pricing has reached the point where it is profitable to do so. The world is undergoing a mega shift, and governments have no clue how to handle the problem.

Jobs Don’t Keep Up With Population Growth, But Unemployment Rate Drops Elegantly, Keeps Intact The Pretext For Fed “Taper”

by Wolf Richter •  • Comments Off on Jobs Don’t Keep Up With Population Growth, But Unemployment Rate Drops Elegantly, Keeps Intact The Pretext For Fed “Taper”

When the Fed said it wanted to print more money in order to create jobs, it’s this graph that came to mind. And when it now says that it wants to taper that process because it already created enough jobs, it’s also this graph that comes to mind. Job creation and economic growth were just a pretext – a pretext that has been very crummy.

In Last 12 Months: Fed SOMA Up 27%, Housing Prices Up 13.5%, Stock Market Up 22%, Jobs Up 1.7%

by Contributor •  • Comments Off on In Last 12 Months: Fed SOMA Up 27%, Housing Prices Up 13.5%, Stock Market Up 22%, Jobs Up 1.7%

By Lee Adler, of The Wall Street Examiner: By now it’s clear to everybody, even the Fed, that QE does absolutely nothing to stimulate economic growth while fomenting bubbles in housing and stock prices. The Fed will disingenuously use steady job growth as an excuse to begin cutting back on QE soon. But its real reason lies elsewhere.

The Jobs Curse At Amazon (And Obama Stepped Into It)

by Wolf Richter •  • Comments Off on The Jobs Curse At Amazon (And Obama Stepped Into It)

Amazon’s promotion machine shifted into high gear to tout President Obama’s visit to one of its warehouses where he unveiled his “better bargain” for “middle class jobs.” The visit was artfully synced with Amazon’s announcement that it would create 7,000 jobs. Out of nothing. One of the ongoing lies in America’s jobs crisis – and Obama stepped right into it.

Jobs Barely Keep Up With Population Growth

by Wolf Richter •  • Comments Off on Jobs Barely Keep Up With Population Growth

So, 175,000 jobs were created in May. The gains for March and April were revised down by 12,000. The unemployment rate ticked up to 7.6%, from 7.5%, or as the BLS said in its politically correct manner “was essentially unchanged.” With disturbing racial disparities that we’ve become inured to. A showcase of the dreary impact of the Fed’s policies on jobs!

When Flight Safety Gets Outsourced To China

by Wolf Richter •  • Comments Off on When Flight Safety Gets Outsourced To China

Aircraft maintenance was a highly paid blue-collar job that required education, training, manual skills, and brains. It was one of the perfect American middle-class jobs with generous healthcare, retirement, and vacation benefits; and free flights! They were working for icons like Delta, American Airlines, Continental, TWA, or Pan Am. Icons indeed!