Archive for Jobs

It’s Unexpected!™

Been a long time, huh?

The number of Americans filing new applications for unemployment benefits unexpectedly rose last week, but the trend continued to point to a strengthening labor market.

Initial claims for state unemployment benefits increased 5,000 to a seasonally adjusted 274,000 for the week ended Aug. 8, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.

Though claims have risen for three straight weeks, they have remained below the 300,000 threshold, which is associated with a firming jobs markets, for 23 consecutive weeks.

Economists had forecast claims to be unchanged at 270,000 last week. A Labor Department analyst said there were no special factors influencing the data and no states had been estimated.

Nothing dire, the numbers are still fine (for a half-assed recovery). But it’s fun to play the old game now and again.

Comments (1)

Minimum Wage In NYC

One of the things that I most despise about the “progressive” movement is the way in which they treat each little group differently, thereby generating class hatred. They’re getting better at this by creating intra-class hatred.

New York’s Fast Food Wage Board, a panel appointed by Gov. Andrew Cuomo, has recommended increasing the minimum wage to $15 an hour from $8.75 for quick-service restaurant businesses with 30 or more locations. The target, according to Mr. Cuomo, is “large, national companies which have been making extraordinary profits” while “underpaying their workers,” who are supported by public-welfare programs such as Medicaid.

So, you can work at McDonald’s for $15.00 per hour, or Joe’s Sub Shop for $8.75. Hmmm, let me think about this. One the one hand, Joe’s is gonna lose people, on the other hand, McDonald’s will surely need to raise prices. Sounds like a lose-lose! :)

But there’s even more intelligence in this plan than you might suspect:

But the higher labor costs that the New York state labor commissioner is expected to approve will not hit large companies. That’s because small business owners own and operate all of New York’s Burger King restaurants, and about 95% of its McDonald’s restaurants, as franchisees. These business owners set the compensation for the workers they employ. Burger King and McDonald’s, on the other hand, are paid a percentage (generally a 3% to 5% royalty fee) of the restaurant’s gross sales, regardless of the franchisees’ profits.

There are 7,303 franchised restaurants in New York operating under agreements with 116 brands, and like other restaurant owners, many pay some of their employees the starting wage of $8.75 an hour. Yet the owner of even a single franchised restaurant would automatically have to pay a minimum $15 an hour, simply because of his affiliation with a brand that has more than 30 restaurants nationwide. That’s not fair.

Get it? The companies themselves won’t be hurt because they are receiving a percentage of gross profits – in other words, the poor sap that owns the store will make less because labor costs will jump, while the sub shop down the street can probably undercut him on pricing. Brilliant.

How will these poor saps cope?

Could these restaurant owners cope with such a huge increase in operating costs by reducing their profits? Quick-service restaurant franchises operate on slim profit margins—on average 2 to 4 cents on the dollar according to an Employment Policies Institute study. And to the extent they make lower profits, these business owners will be less likely to open new restaurants.

Well, if you want to read more, go to the link. It is quite depressing.

– Aggie

Comments

Fabulous Economic News!

1 in 3 millenials live with mom and dad

It appears that culture has as much to do with this as the economy; it is a preference.

Even though the number of people in the 18-34 age bracket has gone up by around 3million since recession started to bite in 2007, half a million fewer of them are now living independently.
In 2010, the U.S. economy’s lowest ebb, 69 per cent of young adults lived apart from their families, but five years on the proportion has fallen to 67 per cent – leaving a full third still in the family nest.

The findings, published by the Pew Research Center, come as youth unemployment fell from 12.4 per cent in 2010 to 7.7 per cent now, while average weekly earnings have increased to $574, from a low of $547 in 2012.
The figures do not include students who are enrolled full-time.
Although it remains true that better-educated young adults are more likely to branch out on their own, both those with and without degrees have become less likely to be independent householders.

Obama has transformed America – back to the olden days. Now, instead of branching out, getting jobs, starting families, people live in vertical arrangements; they remain in the family home, and if they have kids they just raise them in the basement. Now we can have (great) grandma and grandpa, grandma and grandpa, mom and dad, Sally, and the three kids. It is a new America, perhaps with shades of the Lower East Side in the nineteenth century.

But, of course, it isn’t all cultural. We are experiencing the Worst Expansion Since WWII

The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.

From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.

The revisions were released concurrently with the government’s first estimate of second-quarter output.

Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, overall the economy has failed to break out of its roughly 2% pattern for six years.

While exercising this morning, I learned that the second quarter increase was 2.3%, lower than the expected 2.5% And one of the reasons given was that businesses refuse to invest. Elizabeth Warren will have something to say about that one, let me assure you!!! But until the government takes over the means of production, I think we need to acknowledge that businesses are afraid to invest because they never know what sorts of weird regulations or taxes will be imposed. ObamaCare was a disaster, and continues to be a disaster. And of course, there is the attitude of hatred toward any individual or any business that doesn’t toe the progressive line.

I had the thought – please tell me, Gentle Reader, if this is crazy – that the Donald Trump phenomenon is largely that he is the anti-Obama. He struts around, loudly proclaiming how rich he is. He is relatively clear about labeling our problems (whether he is accurate is a different matter; he is clear), he is dismissive on the metrosexual thing. He is pro-conservative. He is easy to understand. He doesn’t have perfect creases in his trousers.

Now, the case has been made that in many ways he is similar to Obama, Mr. I-Will-Make-The-Oceans-Recede. That they are both pompous assholes. Personally, I’d rather have Walker, Rubio, Kasich, Perry, Carson, etc., in other words, a grown-up, but Trump is resonating. I think it is that people are so sick of double-speak, lawyerly crap.

– Aggie

Comments (2)

Is This A Typo?

CNBC claims jobless claims lowest since 1973

I find that hard to believe…

US weekly jobless claims total 255,000 vs 285,000 est, lowest level since 1973

The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting job growth remained solid despite slowing in June.
Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November 1973, the Labor Department said on Thursday.

Claims for the prior week were unrevised.

Isn’t this a typo: 41-1/2 years> Do they mean 4 1/2? Seems crazy to me.

– Aggie

Comments (1)

Perfect. Just Perfect.

$15 minimum wage causes problems for businesses, employees

Who could have seen this coming?

Seattle’s $15 minimum wage law is supposed to lift workers out of poverty and move them off public assistance. But there may be a hitch in the plan.

Evidence is surfacing that some workers are asking their bosses for fewer hours as their wages rise – in a bid to keep overall income down so they don’t lose public subsidies for things like food, child care and rent.

The notion that employees are intentionally working less to preserve their welfare has been a hot topic on talk radio. While the claims are difficult to track, state stats indeed suggest few are moving off welfare programs under the new wage.

Despite a booming economy throughout western Washington, the state’s welfare caseload has dropped very little since the higher wage phase began in Seattle in April. In March 130,851 people were enrolled in the Basic Food program. In April, the caseload dropped to 130,376.

At the same time, prices appear to be going up on just about everything.

Some restaurants have tacked on a 15 percent surcharge to cover the higher wages. And some managers are no longer encouraging customers to tip, leading to a redistribution of income. Workers in the back of the kitchen, such as dishwashers and cooks, are getting paid more, but servers who rely on tips are seeing a pay cut.

Some long-time Seattle restaurants have closed altogether, though none of the owners publicly blamed the minimum wage law.


Already, though, there are unintended consequences in other cities.

Comix Experience, a small book store in downtown San Francisco, has begun selling graphic novel club subscriptions in order to meet payroll. The owner, Brian Hibbs, admits members are not getting all that much for their $25 per month dues, but their “donation” is keeping him in business.

“I was looking at potentially having to close the store down and then how would I make my living?” Hibbs asked.

To date, he’s sold 228 subscriptions. He says he needs 334 to reach his goal of the $80,000 income required to cover higher labor costs. He doesn’t blame San Francisco voters for approving the $15 minimum wage, but he doesn’t think they had all the information needed to make a good decision.

Let’s see… these guys voted for the folks who implemented the minimum wage laws. Now businesses are closing and employees are seeking fewer hours… oh, and businesses are finding creative ways to charge more. Sounds like a progressive success story to me! :)

– Aggie

Comments

Our Record-Setting Economy

Over 220,000 new jobs! Unemployment falls 0.2%!! Let freedom ring!!!

Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing.

The unemployment rate declined by 0.2 percentage point to 5.3 percent in June, and the number of unemployed persons declined by 375,000 to 8.3 million.

Everyone back on your head:

Among the major worker groups, the unemployment rates for adult men (4.8 percent), adult women (4.8 percent), and blacks (9.5 percent) edged down in June, while the rates for teenagers (18.1 percent), whites (4.6 percent), Asians (3.8 percent), and Hispanics (6.6 percent) showed little change.

“Edged down”? And we aren’t having a parade?

The civilian labor force declined by 432,000 in June, following an increase of similar magnitude in May. The labor force participation rate declined by 0.3 percentage point to 62.6 percent in June. The employment-population ratio, at 59.3 percent, was essentially unchanged in June and has shown little movement thus far this year.

Don’t be modest: 62.6 is a new low. Rather, it hasn’t been this low since the Carter Administration (October 1977), when baby-boomers who weren’t working yet weighed the numbers down. You read right: Carter. Ironically, baby-boomers are beginning to retire now, so that number will continue to fall. The only difference is that when they were kids, their parents paid for their care; now we do.

Actually, these people do:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 6.5 million, changed little in June. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

In June, 1.9 million persons were marginally attached to the labor force, little changed from a year earlier.

Among the marginally attached, there were 653,000 discouraged workers in June, essentially unchanged from a year earlier.

Cancel that parade. We can’t afford it.

Comments (2)

Everyone Gets a Raise!

Gee, thanks Obama!

A White House proposal to expand overtime eligibility to around five million more Americans drew fire from companies and business groups, which warned it will curtail work hours and dent job growth as employers work around the rule to control costs.

The Obama administration defended the plan, long in the works, to more than double the eligibility threshold for overtime pay, to $970 a week from the current cutoff of $455 a week, last adjusted in 2004. Details of the proposed rule were released on Tuesday.

The U.S. Chamber of Commerce called the proposal another example of the administration being divorced from reality and adding more burdens on employers. The trade group said the rule would cause workers to lose benefits, flexibility and opportunities for career advancement.

“The administration seems to be under the distorted impression that they can build the middle class by government mandate. Turning managers into rank-and-file hourly workers takes away the career opportunities” for a path to the middle class, said David French, the retail federation’s senior vice president for government relations.

The rule is “going to force more people into part-time work, and we’re already seeing that with Obamacare,” said Scott Gittrich, the founder and president of Toppers Pizza Inc. in Whitewater, Wis. He said he would adjust employees’ schedules and base wages to avoid spending more on labor under the new rule.

Ah yes, the truth. Nasty thing, really. Don’t see the point. Why can’t they leave Obama alone to pontificate alongs the lines of “a hard day’s work deserves a fair day’s pay”? And let him decide what’s “fair”—e.g. pay “their fair share” of taxes?

Because as with the $15/hr minimum wage and as with ObamaCare, this will eliminate full-time jobs. It’s actually meant to. Obama plays the “hero” (with other people’s money), forcing low-profit businesses to cut costs, thereby reinforcing his heroism and their villainy. He wins, workers lose. Yay!

Comments

It’s Unprecedented!

A record 93,194,000 Americans not in the labor force!

Way to go, Barry!

(My personal theory about this is that by this time next year, people will be getting back to work! Somehow the unemployment numbers will go into negative territory. All will be ducky. And the American public is dumb enough that the democrat will probably win).

Charts at the link if you are interested.

– Aggie

Comments (2)

How Do YOU Think the Economy is Doing?

This guy thinks not so well:

JON RALSTON, KNPR-TV: You have said that the notion of a great recovery is a complete dream here in Las Vegas.

STEVE WYNN, WYNN RESORTS: Well, the idea that America is in the midst of a great recovery is pure fiction. It’s a lie.

RALSTON: Really?

WYNN: It’s not true.

RALSTON: Tell me why.

WYNN: It’s a jobless recovery because recoveries are marked by the amount of real employment. And if you count the people who have left the workforce, real unemployment is 15- to 20-percent. If you take real inflation, and you’ve got to count energy and food and all that stuff, inflation is much higher than they say it is.

My employees’ take-home pay, in spite of the increases we give them, their paychecks are 90-cent paychecks on a dollar. It’s very difficult for the middle class in America to keep up because of the inflationary pressure and the devaluation of the dollar.

I don’t know about all of that, but his “jobless recovery” point is valid:

Untitled

U.S. companies hired in April at the slowest pace in nearly a year and a half, a private survey found, as the strong dollar dragged down overseas sales and energy companies cut back on spending in the face of lower oil prices.

Payroll processor ADP said Wednesday that businesses added just 169,000 jobs in April, down from 175,000 in the previous month. That was the fewest since January 2014. March’s total was revised down from 189,000.

Okay, 169,000 jobs is hardly jobless, but the meager growth from which we’ve all benefitted so greatly over these last six years is crashing to earth. The roughly 250,000 jobs per month the economy added in the second half of last year is ancient history. We’re about one-third down from those heady days, and heading downward. I’ve seen confident predictions that the robust 0.2% supposed expansion last quarter will be downgraded to a contraction.

PS: I love that blaming of lower oil prices. You think high oil prices have any effect on the economy?

Comments (1)

What Do You Say to One of Those 295,000 New Workers?

Medium Pepsi, no ice, hold the mayo:

Among the major worker groups, the unemployment rate for teenagers decreased by 1.7 percentage points to 17.1 percent in February. The jobless rates for adult men (5.2 percent), adult women (4.9 percent), whites (4.7 percent), blacks (10.4 percent), Asians (4.0 percent), and Hispanics (6.6 percent) showed little or no change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.7 million in February. These individuals accounted for 31.1 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 1.1 million. (See table A-12.)

The civilian labor force participation rate, at 62.8 percent, changed little in February and has remained within a narrow range of 62.7 to 62.9 percent since April 2014. The employment-population ratio was unchanged at 59.3 percent in February but is up by 0.5 percentage point over the year.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in February at 6.6 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In February, 2.2 million persons were marginally attached to the labor force, little changed from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 732,000 discouraged workers in February, little different from a year earlier.

I feel like a mob capo watching his goons work over some deadbeat: that’s enough.

The number of new jobs is encouraging; the quality of job is depressing. For those who don’t still live with their parents—more and more of us all the time—there was little good news in this report.

Go ahead and look at Table A-1. Those “not in labor force” are up over 1.5 million from last year; “persons who currently want a job” are up nearly half a million.

But it’s still good news for Ariana Grande—her fans can afford to download more of her oeuvre from iTunes!

Now, do you have this in teal, honey—large?

Comments

Jobs for Jihadis

Everybody’s all over that State Department ditz, Marie Harf, for suggesting that all ISIS terrorists need to give up their wicked, wicked ways is a regular swing shift at the old Packard plant.

“We can not win this war by killing them. We can not kill our way out of this war. We need in the medium and longer term to go after the root causes that lead people to join these groups, whether it is lack of opportunity for jobs–“

But it’s been tried before. And not just by Bush:

“I’m not the first person to say something like this. Military commanders that we’ve had throughout many years here fighting this war on terrorism have said the exact same thing…

President George W. Bush talked about poverty being one of the drivers leading people to extremism.

I didn’t think appealing to Bush was how these people rolled.

But it’s been tried even before that.

Wernher von Braun ring a bell?

Operation Paperclip was the Office of Strategic Services (OSS) program in which over 1,500 German scientists, technicians, and engineers from Nazi Germany and other foreign countries were brought to the United States for employment in the aftermath of World War II.[1] It was conducted by the Joint Intelligence Objectives Agency (JIOA), and in the context of the burgeoning Cold War. One purpose of Operation Paperclip was to deny German scientific expertise and knowledge to the Soviet Union[2] and the United Kingdom,[3] as well as inhibiting post-war Germany from redeveloping its military research capabilities.

Although the JIOA’s recruitment of German scientists began after the Allied victory in Europe on May 8, 1945, U.S. President Harry Truman did not formally order the execution of Operation Paperclip until August 1945. Truman’s order expressly excluded anyone found “to have been a member of the Nazi Party, and more than a nominal participant in its activities, or an active supporter of Nazi militarism”. However, those restrictions would have rendered ineligible most of the leading scientists the JIOA had identified for recruitment, among them rocket scientists Wernher von Braun, Kurt H. Debus and Arthur Rudolph, and the physician Hubertus Strughold, each earlier classified as a “menace to the security of the Allied Forces”.[4]

They don’t look too scary. Maybe it’s one thing to de-Nazify the odd rocket scientist or medical researcher, but another to de-Islamify an ISIS savage.

Read about Strughold or Rudolph and von Braun at Mittelbau-Dora, and see if you still feel that way.

But it can be done. If we can just find out what these ISIS boys are good at, we can make them respectable contributors to society.

No one seems to be able to carry out a decent death penalty sentence these days. Just a thought.

Comments

Huddled Masses

Are a lot more massive than you might have thought!

The Obama administration has since 2009 issued roughly 5.5 million work permits to non-citizens beyond what Congress has authorized, according to recently-released documents that critics of U.S. policy say reveals a “shadow” or “parallel” immigration system stifling wages and taking jobs from Americans.

The information was obtained by the conservative-leaning Center for Immigration Studies through a Freedom of Information Act request and has prompted Alabama GOP Sen. Jeff Sessions to call for an investigation.

“This request has unearthed the operation of a shadow immigration system previously unknown to the American public,” said Sessions, one of Capitol Hill’s most outspoken critics of President Obama’s immigration policy. “A full investigation is warranted.”

Congress authorized an estimated 5 million green cards and 3.5 million guest worker permits during the 2009-2014 period, in addition to the 5.5 million issued by administration action, a Senate staffer said Wednesday.

Jessica Vaughn, the study author and the center’s director of policy studies, argues the administration has discovered the power to issue work permits outside the limits set by Congress and that it has become “the vehicle” for Obama’s executive actions — in which he has offered deferred deportation to millions of people now in the country illegally.

The biggest group of recipients has been people entering the U.S. without being inspected. More than 957,200 of them received permanent or “pre-permanent” work permits, according to the center.

Others received those types of permits were 23,215 parolees, nearly 1,000 stowaways and 49 people suspected of document fraud.

Try not to let this news diminish your esteem for the stowaway-American community.

Is there nothing Obama can’t do? Not if you ask him.

But ask these people:

The priority given by the Justice Department to children of Central Amerian families who entered the U.S. in 2014 has meant that the hearings of almost 500,000 undocumented immigrants have been suspended indefinitely, as occurred with Ricardo Pérez Luna, whose day in the Los Angeles Immigration Court was canceled.

“It’s been a long wait. It’s not fair that after all this effort, and I was finally on the point of getting my residence permit, they don’t even tell me when I’ll get to see the judge,” Pérez, a native of Oaxaca, Mexico, told Efe.

The immigrant had a hearing scheduled for Jan. 28, the date when the judge was to award him his permanent residence, but his hopes vanished when he was notified that his hearing was canceled, as has happened to thousands of undocumented immigrants in recent days.

“The saddest thing is that there’s no date, I don’t know if it’s going to be months, a year, two…we don’t know what’s going to happen,” a frustrated Pérez said.

Criminal alien on criminal alien crime—it would take a heart of stone not to laugh.

For these illegals to cry about fairness underscores how absurd the whole system is. You break the law by sneaking in here, break it again by working without permission and not paying taxes, break it some more by forging documents as needed, break it yet again by scamming welfare benefits to which you are not entitled, and otherwise burden the health care and education system with your illegal selves and your illegal children. Not to mention the odd DUI.

And all it would have taken for America to embrace you was for you to wait to be invited, rather than crash the party. But because you are reliable future Democrat voters, that cynical party and this lawless president offer you a Corona and some nachos (patronizing dinks that they are).

Comments

« Previous entries Next Page » Next Page »