On Monday, I wrote how I was looking for strong job growth above where the market and the Fed were expecting. By midweek, this looked accurate as the 93k ADP numbers and jobless claims pointed towards this improving picture and bond yields rose as did equities. Today’s data killed this. Overall, this presses the reset button back to before the November elections and where the markets were thinking what would happen.
Today’s data appears to be out of kilter compared to the improvement in jobless claims, the strong ADP numbers, ISM data and the Challenger, Gray and Christmas survey that … …READ MORE
Tag Archives: unemployment
My Spin, My Bad
Where the Jobs Are:
Yesterday, I wrote on the problems with the 99 week extension of jobless claims and how that contributed to higher weekly jobless claims and higher unemployment numbers. Today, I thought it might be good to show where jobs are in the United States. Here’s list provided by Payscale.com and beyond.com:
Physical therapist $59,547 – $72,999; Occupational therapist: $53,477 – $67,321; Sales representative: $32,711 – $48,120; Customer service representative: $28,261 – $39,102; Administrative assistant: $28,227 – $39,415; Retail sales associate: $23,589 – $40,744; Registered nurse: $46,797 – $65,210; Java developer: $62,571 – $85,438;
Project manager: $50,693 – $79,549; Project coordinator: $38,918 … …READ MORE
Where the Jobs Are:
Yesterday, I wrote on the problems with the 99 week extension of jobless claims and how that contributed to higher weekly jobless claims and higher unemployment numbers. Today, I thought it might be good to show where jobs are in the United States. Here’s list provided by Payscale.com and beyond.com:
Physical therapist $59,547 – $72,999; Occupational therapist: $53,477 – $67,321; Sales representative: $32,711 – $48,120; Customer service representative: $28,261 – $39,102; Administrative assistant: $28,227 – $39,415; Retail sales associate: $23,589 – $40,744; Registered nurse: $46,797 – $65,210; Java developer: $62,571 – $85,438;
Project manager: $50,693 – $79,549; Project coordinator: $38,918 … …READ MORE
99ers vs 26ers
Today, the WSJ carries an editorial from Harvard economics Professor Robert Barro entitled, “The Folly of Subsidizing Unemployment.” It explores a theory I subscribe to (and have been writing about for months) that the unemployment rate is higher than it should be due to the extension of jobless benefits from 26 weeks to 99 weeks.
Barro’s argument is the same one used in the 1990s that led to welfare reform in the United States. “The loss in efficiency results partly because the program subsidizes unemployment, causing insufficient job-search, job-acceptance and levels of employment. A further inefficiency concerns the distortions from … …READ MORE
Break the Fifteen Negatives
As I was attempting to dry off from the torrential rainfall occurring in Chicago this AM, I had this thought: why are interest rates so low? Are the Granthams and Grosses of the world correct in their deflation scenarios?
Let’s look at all the reasons for low rates. Some are stand alone, some are related.
1 Slow or decelerating European and US economic growth.
2 European sovereign debt crisis.
3 European bank crisis.
4 China tightening to contain inflation.
5 No or slow demand for money.
6 Lots of money around from central banks.
7 Large amount of free reserves … …READ MORE
Unemployment Day, It's Unemployment Day!
Friday brings us to the favorite part of the month when we sigh and think: were the Bush years really that bad?
Seriously, the August US unemployment rate is expected to jump increase to 9.5% from 9.4% in July and non farm payrolls are expected to have declined 230k. From a low of 4.4% in October of 2006, the number of unemployed has soared to 6.7 million in the United States. It’s one of the contributing factors for why President Obama is seeing his approval ratings sink.
The recovery is based primarily on inventory rebuilding … …READ MORE
