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The real state of jobs in the economy. Very good article. Lots of substantiation.
"America has long been a country where almost everyone, including the poor and unskilled, could get a job. Given the will to do a reasonable day's work, a job was a passport to economic and social well-being...More than 15 million Americans no longer have that passport to Life. Think of it as roughly the entire population of the states of Connecticut, Delaware, Arkansas, Iowa, and Oklahoma, all standing idle—every man, woman, and child... For the 80 percent of Americans born after World War II, this is their Depression. They have 5.5 million fewer jobs than at the recession's start in 2008, despite the most stimulative fiscal and monetary policy in our history. Employment has been below the pre-recession peak for over 50 months. It's the longest time since the Great Depression that payrolls have not made a new high."
Why job openings have been in low wage sector.
Why so many part time jobs and temporary employment.
Why two thirds of the employment growth rate has been in the 55 and older age cohort and how it creates a bottleneck for younger workers.
Why hiring through June 2011 was 10 times slower following the passage of President Obama's healthcare bill compared to the prior 16 months.
Why through the first few months of 2012, layoff announcements have risen 18 percent from a year ago, and hiring plans have dropped 82 percent.
Why real personal disposable income per capita is lower now than it was in November 2006.
Why the 8.2 percent unemployment rate that only counts people who have applied for a job in the last 4 weeks doesn't reflect the staggering percent that have been without work for 6 months or longer.
The article offers solutions which you may or may not agree with. Since I anticipate figuratively "killing the messenger" posts:
The author of the article is Mort Zuckerman "a long-time supporter of the Democratic party who cast his vote for Barack Obama in the 2008 presidential election."
The real state of jobs in the economy. Very good article. Lots of substantiation.
"America has long been a country where almost everyone, including the poor and unskilled, could get a job. Given the will to do a reasonable day's work, a job was a passport to economic and social well-being...More than 15 million Americans no longer have that passport to Life. Think of it as roughly the entire population of the states of Connecticut, Delaware, Arkansas, Iowa, and Oklahoma, all standing idle—every man, woman, and child... For the 80 percent of Americans born after World War II, this is their Depression. They have 5.5 million fewer jobs than at the recession's start in 2008, despite the most stimulative fiscal and monetary policy in our history. Employment has been below the pre-recession peak for over 50 months. It's the longest time since the Great Depression that payrolls have not made a new high."
Why job openings have been in low wage sector.
Why so many part time jobs and temporary employment.
Why two thirds of the employment growth rate has been in the 55 and older age cohort and how it creates a bottleneck for younger workers.
Why hiring through June 2011 was 10 times slower following the passage of President Obama's healthcare bill compared to the prior 16 months.
Why through the first few months of 2012, layoff announcements have risen 18 percent from a year ago, and hiring plans have dropped 82 percent.
Why real personal disposable income per capita is lower now than it was in November 2006.
Why the 8.2 percent unemployment rate that only counts people who have applied for a job in the last 4 weeks doesn't reflect the staggering percent that have been without work for 6 months or longer.
The article offers solutions which you may or may not agree with. Since I anticipate figuratively "killing the messenger" posts:
The author of the article is Mort Zuckerman "a long-time supporter of the Democratic party who cast his vote for Barack Obama in the 2008 presidential election."
Companies are growing more upbeat about the U.S. economy this year and plan to take on more workers as demand improves, a survey showed.
Some 78 percent of businesses, the most in a year, project the world’s largest economy will expand more than 2 percent in 2012, according to the National Association for Business Economics’ April survey released today in Washington. The share is up from 65 percent in the group’s January report.
About four in 10 firms, the most since July 2011, said they expect employment to pick up in the next six months, showing businesses are looking beyond higher oil prices and Europe’s debt crisis. At the same time, 66 percent said they expect no change in prices in the next three months, indicating Federal Reserve policy makers will have room to keep interest rates low to nurture the almost three-year-old expansion.
The survey shows “an improvement in economic conditions,” said Nayantara Hensel, chairwoman of the NABE outlook survey committee and professor of Industry and Business at the National Defense University in Washington. “Panelists are not significantly concerned about the potential impact of higher oil prices or the European crisis on their business.”
The April survey showed that 60 percent of the businesses, the most in a year, said their sales were rising. In January, 41 percent said demand was climbing. Some 83 percent of manufacturers surveyed said sales were increasing, indicating the industry is still powering the economy.
I've never read a more opinion-laden article in my life.
"Companies are growing more upbeat about the U.S. economy"
"Some 78 percent of businesses, the most in a year, project the world’s largest economy will expand more than 2 percent in 2012"
"About four in 10 firms, the most since July 2011, said they expect employment"
"Thirty-nine percent of all companies surveyed from March 20 to April 10 projected job gains in the next six months."
"66 percent expect no change in their prices"
I've never read a more opinion-laden article in my life.
"Companies are growing more upbeat about the U.S. economy"
"Some 78 percent of businesses, the most in a year, project the world’s largest economy will expand more than 2 percent in 2012"
"About four in 10 firms, the most since July 2011, said they expect employment"
"Thirty-nine percent of all companies surveyed from March 20 to April 10 projected job gains in the next six months."
"66 percent expect no change in their prices"
Cranes as tall as 10-story buildings hoisted steel coil, rods and plate last week from the Detroit port’s first seagoing vessel of the season, cargo that may fuel a third straight yearly gain in Great Lakes shipping.
An economic recovery in the U.S. Midwest is boosting demand for millions of pounds of commodities such as limestone and iron ore as well as steel like the 4,000 tons (3,629 metric tons) unloaded in Detroit from the Federal Yukina, a freighter owned by Montreal-based Fednav
“We’ve seen a steady increase, not a giant increase, in 2010 and 2011,” said Daniel J. Deane, president of Nicholson Terminal and Dock Co., where the Hong Kong-flagged Federal Yukina was berthed. The growth will probably continue in the Great Lakes season that began March 24 as auto and manufacturing companies “start to retool and expand their manufacturing since the low point in 2009.”
Great Lakes states, led by Michigan, are posting economic gains that are among the strongest in the U.S. since the recession ended in June 2009. Spurred by rising auto sales after a bailout by President Barack Obama’s administration, the rebound is now extending to steelmaking and shipping and boosting the region’s employment and spending.
In January, the end of the 2011 shipping season, Great Lakes cargo on U.S.-flag freighters rose 14 percent from a year earlier as companies such as GATX Corp.’s American Steamship Co. (GMT) and Rand Logistic Inc.’s (RLOG) Grand River Navigation Co. carry more freight.
Michigan Economy
Economic activity in Michigan rose to its highest level since 2006 that month, according to Comerica Inc.’s monthly index. The state showed the best improvement among the five states Comerica monitors, and every component of the index improved, including measures of continuing claims for unemployment insurance and sales tax revenues.
Energy producers are deploying the most offshore rigs ever to meet record oil and gas demand, boosting charters for the ships that move them and returning Dockwise Ltd. (DOCK) and Fairstar (FAIR) Heavy Transport NV to profit.
There are about 675 so-called semi-submersible or jack-up rigs operating, with another 130 scheduled to be built, Oslo- based RS Platou Markets AS estimates. That compares with 97 heavy-load ships and three more on order, according to IHS Fairplay data compiled by Bloomberg. Shares of Dockwise, which says it’s the largest owner of the vessels, will rise 18 percent in the next year, the average of six analyst estimates shows.
Activity in the Boston, Atlanta, Chicago, Dallas, and San Francisco Districts grew at a moderate pace, while Cleveland and St. Louis cited modest growth. New York reported that economic growth picked up somewhat. Philadelphia and Richmond cited improving business conditions. The economy in Minneapolis grew at a solid pace and Kansas City’s economy expanded at a faster pace.
Manufacturing continued to expand in most Districts, with gains noted in automotive and high-technology industries. Manufacturers in many Districts expressed optimism about near- term growth prospects, but they are somewhat concerned about rising petroleum prices. Demand for professional business services showed modest to strong growth and freight volume was mainly higher. Reports on retail spending were positive, with the unusually warm weather being credited for boosting sales in several Districts. While the near-term outlook for household spending was encouraging, contacts in several Districts expressed concerns that rising gas prices could limit discretionary spending in the months to come. New-vehicle sales were reported as strong or strengthening across much of the United States. Tourism increased in most reporting Districts. Residential real estate showed some improvement, with many contacts citing expansion in the construction of multi-family housing. Activity in nonresidential real estate increased or held steady in most Districts. Agricultural conditions were generally favorable. Mining activity expanded and oil extraction rose, while natural gas drilling slowed. Banking conditions were largely stable, with some improvement seen in loan demand. Several Districts reported increased credit quality.
Hiring was steady or showed a modest increase across many Districts. Difficulty finding qualified workers, especially for high-skilled positions, was frequently reported. Upward pressure on wages was constrained. Overall price inflation was modest. However, contacts in many Districts commented on rising transportation costs due to higher fuel prices.
Institute for Supply Management’s manufacturing index increased to 53.4 last month and a gauge of factory employment climbed to the highest level since June. The data helped assuage concern about the global economy after earlier reports showed European unemployment rose to a 14-year high in February and manufacturing contracted for an eighth month in March.
“Here in the United States, things have stabilized,” Barry James, who helps oversee $3.3 billion as president of James Investment Research in Xenia, Ohio, said in a telephone interview. “The manufacturing side has been the strength of our economy and the exporting has been huge -- that’s what has sustained us the past several years.”
You're making me laugh....Just because you post something from the left wing sites doesn't make it true. The FACTS are far different from rosy picture you try to paint.
Do you get direct emails from the DNC and then just pop them up here?
Not one of your postings actually addresses the OP..
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