July JobsREAL CLEAR POLITICS February 8, 2010 January Jobs Data Isn't Good Enough By Investor's Business Daily Excerpts: Economy: The jobs data for January showed modest improvement, with unemployment dropping to 9.7% from 10% and the number of jobs lost coming in at a mere 20,000. Good news, but not nearly good enough. It's too soon to bring out the party poppers and streamers. But at least the hemorrhaging in the job market has stopped. Last year, the U.S. lost on average 392,000 jobs a month, while unemployment rose as high as 10.2%. Set against that, 20,000 jobs lost and a 9.7% jobless rate sound pretty good. Two things bode well for 2010. One, factory overtime now averages about 3.5 hours - meaning that companies may soon have to hire more workers. Two, temporary-help jobs - rising 52,000 in January - suggest that some businesses are short on workers. Full article Investor's Business Daily TO BRING THE HOUSING MELTDOWN AND RUIN A THRIVING ECONOMY
Business Week Average Work Week Down To 33 Hours Jobs Report: A Blow to Optimism A dismal June jobs report offers few, if any, "green shoots." Will a soft labor market slow a recovery? By Moira Herbst Excerpts: Different Promotions Each Week This Week 7% Off Examine Delicious Home Style Dinners Under "Our Menus" Don't get your hopes up. That's the signal the job market seemed to send economic pontificators on July 2, as U.S. employers cut a larger-than-expected 467,000 jobs in June, according to the Labor Dept. The U.S. unemployment rate hit a 26-year high of 9.5%. "Today's Labor Dept. report again indicates how the recovery continues to elude the job market," says Christine Owens, executive director of the National Employment Law Project, an advocacy group for low-wage and unemployed workers. "The jobs recession has reached extreme levels." It's a decidedly more gloomy report than the one in May, which showed that the economy lost 345,000 jobs during that month, far fewer than the 550,000 jobs economists had expected. May marked the fourth consecutive month of slowing job losses, leading some economists to think the trend would continue. Consumer Price Index -0.1% Mar 2009 Unemployment Rate 8.9% Apr 2009 Payroll Employment -539,000(p) Apr 2009 Average Hourly Earnings +$0.01(p) Apr 2009 By INVESTOR'S BUSINESS DAILY All Roads Lead To Romer Wednesday, December 24, Excerpts: Economic Policy: Christina Romer as CEA head is one of Barack Obama's most pleasantly surprising appointments. At last, a Democratic president will be advised by someone who understands that tax increases kill jobs. How often do you find liberal Democrats interested in hearing that tax increases bring forth "a large, rapid, and highly statistically significant negative effect on output"? Or in taking in the news that "tax increases have a large negative effect on investment"? Or that previous analyses in recent years of the impact of tax increases on consumption underplayed their economic damage and that a "new measure of fiscal shocks support(s) the view that the effects are large and negative"? These are the kinds of findings we saw come last year from University of California, Berkeley, economics professor Christina Romer, the president-elect's choice as chairwoman of the Council of Economic Advisers. REASONONLINE Lessons From the Great Inflation Robert J. Samuelson December 20, 2008 Full article Robert J. Samuelson ReasonOnline Excerpts: Paul Volcker and Ronald Reagan's forgotten miracle created a quarter century of prosperity--and a dangerous bubble of complacency. If you asked a group of scholars to name the most important landmarks in the American story of the last half-century, they would list some or all of the following: the war in Vietnam, the civil rights movement, the assassinations of the Kennedys and Martin Luther King, Watergate, the sexual revolution, the invention of the computer chip, Ronald Reagan’s election in 1980, the end of the Cold War, the creation of the Internet, the emergence of AIDS, the terrorist attacks of September 11, and the two wars in Iraq. Looking abroad, these scholars might include other developments: the rise of Japan as a major economic power in the 1970s and ’80s, the emergence of China in the 1980s from its self-imposed isolation, and the spread of nuclear weapons. We have arrived at the end of a roughly half-century economic cycle dominated by inflation, for good and ill. Its rise and fall constitute one of the great upheavals of our time, though one largely forgotten and misunderstood. From 1960 to 1979, annual U.S. inflation increased from a negligible 1.4 percent to 13.3 percent. By 2001 it had receded to 1.6 percent, almost exactly what it had been in 1960. For this entire period, inflation’s climb and collapse exerted a dominant influence over the economy’s successes and failures. It also shaped, either directly or indirectly, how Americans felt about themselves and their society; how they voted and the nature of their politics; how businesses operated and treated their workers; and how the American economy was connected with the rest of the world. Although no one would claim that inflation’s side effects were the only forces that influenced the nation during these decades, they counted for more than most historians, economists, and journalists think. It’s impossible to decipher our era, or to think sensibly about the future, without understanding the Great Inflation and its aftermath.
From: U.S. Department of Labor Consumer Price Index +0.2%
Jun 2007 Unemployment Rate 4.6%
Jul 2007 Payroll Employment-- +92,000(p)
Jul 2007 Average Hourly Earnings-- +$0.06(p)
Jul 2007 Producer Price Index-- -0.2%(p)
Jun 2007 Employment Cost Index-- +0.9% July Jobs
2nd Qtr 2007 Productivity-- +1.0%
1st Qtr 2007 U.S. Import Price Index-- +1.0%
Jun 2007 Unemployment Initial (UI) Claims--307,000
Jul 28 2007 UI Claims 4-Week Average-305,500
Jul 28 2007 Federal Minimum Wage:--$5.85 Current (p) preliminary; (c) corrected From: U.S. Department of Labor Consumer Price Index-- +0.2%
Jun 2007 Unemployment Rate-- 4.5%
Jun 2007 Payroll Employment-- +132,000(p)
Jun 2007 Average Hourly Earnings-- +$0.06(p)
Jun 2007 Producer Price Index-- -0.2%(p)
Jun 2007 Employment Cost Index-- +0.9%
2nd Qtr 2007 Productivity-- +1.0% July Jobs
1st Qtr 2007 U.S. Import Price Index-- +1.0%
Jun 2007 Unemployment Initial (UI) Claims-- 301,000
Jul 21 2007 UI Claims 4-Week Average 308,500
Jul 21 2007 Federal Minimum Wage:--$5.85
Job Growth Remains Steady — Unemployment Rate Stays Low at 4.5% Secretary of Labor Elaine L. Chao Labor Secretary Elaine L. Chao High-powered affiliates like Steve Pavlina, Lisa Irby and AllanGardyne WASHINGTON, July 6 — The U.S. Department of Labor’s Bureau of Labor Statistics announced the creation of 132,000 net new jobs in June, while the nation’s unemployment rate held steady at 4.5%. June marks the 46th month in a row of job growth, and since August 2003, more than 8.2 million jobs have been created.
Unemployment Rate 4.5% June 2007 Payroll Employment +132,000(p)
June 2007 Average Hourly Earnings +$0.06(p) July Jobs
June 2007 Producer Price Index +0.9%(p)
May 2007 Employment Cost Index +0.8%
1st Qtr 2007 Productivity +1.0%
1st Qtr 2007 U.S. Import Price Index +0.9%
May 2007 Unemployment Initial (UI) Claims 318,000
Jun 30 2007 UI Claims 4-Week Average 318,500
Jun 30 2007 Federal Minimum Wage $5.15 Current Federal Minimum Wage $5.85 Effective July 24, 2007
July Jobs
May 2007 Unemployment Rate 4.5%
June 2007 Payroll Employment +132,000(p) ###
Plenty of job creation is taking place and inflation is low. These seem to be very prosperous times yet the Mainstream Media constantly dwells on any negatives that exist. As pointed out by Investors Business Daily on 5-5-06 The Associated Press recently highlighted the following: July Jobs "New Hiring Slows." "Wages Raise Inflation Fears." "Companies Aren't Hiring." "Slowdown Ahead." Although the housing market has slowed in recent months new home ownership is at an all time high with many of those homes being bigger and better than ever.
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