Payrolls decreased in 35 U.S. states in December, while the unemployment rate rose in 20, showing the labor market recovery is slow to gather momentum.
New York led the nation with 22,800 job cuts last month, followed by Minnesota with 22,400 firings, and Florida with 17,900, figures from the Labor Department showed today in Washington.
The report is consistent with figures on Jan. 7 that showed a fewer-than-forecast 103,000 jobs were created nationwide last month even as unemployment fell. Federal Reserve policy makers meeting today and tomorrow are likely to reiterate a pledge to buy $600 billion in government securities through June to help lower unemployment and spur growth.
I don't think the employment/unemployment numbers make sense. We still have about 400,000 NEW unemployment claims each time the numbers are announced. That means almost half a million people are asking for first-time unemployment compensation, but you never hear the total of millions of people who are actually unemployed.
ReplyDeleteAlso, when people reach the end of compensation and aren't entitled to any more, they disappear. They aren't counted.
Shadowstats, and other sites, have better numbers that show unemployment and underemployment is 20% or higher. And since the states are going broke and letting go thousands of workers, the real number will go higher. There is no recovery.
many run out of the 99 weeks and are gone..poof and not counted, many are ineligible, many under employed-today read 53% underemployed. maybe another reason why the price of seeds has risen-demand. the numbers are cooked, same stores sales up, but not counting the stores shuttered therefore funneling shoppers into fewer stores and uping that stores sales makes it appear sales rose in general. inflation doesn't count food and fuel nor decreased sizes/OZ's because food and fuel don't matter, cars sales are fudged. and always after the release a few weeks later when noones looking they revamp the prior release and it's worse..a game, works until it doesn't
ReplyDelete“Former CEO and current Chairman of Morgan Stanley, John Mack, was on the Charlie Rose show on January 21, 2011, and showed his gratefulness for the welfare handout the American people gave him and his firm in 2008.
ReplyDeleteHe touted his many business trips to China, being a member of the Beijing mayor’s council, and outrageously, being on the advisory board of China’s sovereign wealth fund, according to Charlie Rose. …”
This kind of elite advisor is proving very useful in Beijing too and he slips seemlessly from the corporate state supported banks of wall st to the directors boards in state capitalist China.
Same system?
Same job ,banker advisor , to the elite?
Maybe this guy is simply a supporter of free trade “Austrian economics” ,opposed to any government interferance or regulation of the “entepranual spirit of capitalism” and the free collection of bonuses and directors fees?
Austrian economics supporters often personified and pose on the internet as simple
"gold bugs" that have a hangup with fiat money reserve banking money creation as not according to their philosophical religious concept of pure capitalism with money backed by real gold reserves .
As supporters of free trade for capitalism it is noticeable they were usualy mostly silent on the de-industrialisation of america and loss of jobs to free trade for capital as enthusiastic cheerleaders of the permanent virtues of unrestricted "free trade" for capital.
what on the surface appears to be free trade in goods ,is actualy international free trade by capital in the business of international
transfers of labor created wealth for profits.
The one size fits all solution of 'austrian economics" to each and all economic crisis problems ,just like for the traditional capitalists is Austerity for working people , in order to remove any limitations imposed by government ‘regulations” on the ability of capital to make even more profits.
With a particular hatred for any government 'welfare subsidies "unemployment benifits and the like as "unecessary" taxes on capitals profits.