Jobs
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!
The Infallible Fed At Verge Of (Not) Admitting Failure
by Wolf Richter • • Comments Off on The Infallible Fed At Verge Of (Not) Admitting Failure
“Labor market conditions are affected by factors outside a central bank’s control,” admitted Richmond Fed President Lacker as the employment report bounced around the world. Yet for years, the Fed has proclaimed that the heroic motivation for its selfless money-printing mania was the deep desire to improve the unemployment fiasco for average Americans.
Top American CEOs About Job Creation: Not Happening Here
by Wolf Richter • • Comments Off on Top American CEOs About Job Creation: Not Happening Here
CEOs of the largest US corporations, without aiming at it, shot barn-door-size holes through the rosy jobs picture. Rosy on the surface: unemployment down to 7.7% with 236,000 new jobs created last month. A picture the White House held up as proof of its success. But these CEOs didn’t see it. Not in the US. Though prospects were rosy in cheap countries.
The New Reality Of ‘Economic Recovery’ For American Workers
by Wolf Richter • • Comments Off on The New Reality Of ‘Economic Recovery’ For American Workers
Despite optimism-mongering in the media, in certain quarters of Washington, and elsewhere, we’ve had indication after indication in the economic data that American workers have not benefited from whatever lousy progress has been made in nudging up GDP. But now we know from the horse’s mouth: they’re mired in a tough new reality that is getting worse.
French Workers Threaten To Blow Up Their Factory
by Wolf Richter • • Comments Off on French Workers Threaten To Blow Up Their Factory
Tuesday morning, the 168 remaining employees of DMI in Vaux, a tiny town near Montluçon in the Department of Allier, smack-dab in the middle of France, rigged about ten gas cylinders throughout the factory they’d been occupying and threatened to blow it up—unless their demands were met. Another day in the decline of the private sector à la Française.