August 2013 Jobs Report: “Good” News That Isn’t

By: Friday September 6, 2013 1:30 pm

Well the August Jobs Reports are in, and, as usual, the numbers were not as expected.

 

The Vortex of Stupidity, Also Known as Washington, DC

By: Tuesday October 23, 2012 6:30 pm

I’m a bit surprised we don’t see more news articles like this one from the AP last Sunday (October 14) about a man attempting to rob a bank of $1 so he could be sent to a Federal Prison. How bad must it be to want to rob a bank so that you can get sent to prison? My guess is the three hots and a cot and health care sounded mighty appealing if the option was starving on the street.

Economists Try To Explain Why They Were Wrong on March Jobs Forecasts

By: Saturday April 7, 2012 4:00 pm

Once again, the economic community is scrambling to find the reasons why they were suprised by the March 2012 jobs report. The monthly report from ADP had private sector jobs at 209K increase for March 2012 which apparently led many economists to predict a similar number for the official report from the Bureau of Labor Statistics that was released on Friday.

I Really Do Want To Believe in the Economy…

By: Thursday January 19, 2012 6:50 pm

But then I see articles across the Toobz like this from Tuesday from US News (via Yahoo) with the headline “Are We Entering a Jobless Recovery?” and I just want to weep at the incredible combination of stoopid and duplicity to that gives us such a headline.

Improvement, Yes, but Not That Much Improvement

By: Wednesday January 11, 2012 7:09 pm

OK, so you might have noticed a few headlines the last few days talking about how the economy is getting better, unemployment is dropping, and we’re all going to win Powerball tonight and retire tomorrow with our sparkly ponies.

Wait! I Thought the South Was Where All the Jobs Are!

By: Tuesday September 27, 2011 4:40 pm

Jobs.

Although the official time frame for “The Great Recession” was December 2007 through June 2009, for the millions of long term un and underemployed, the daily reality is that not only has the recession never ended, it is more applicable to The Great Depression than it is to any of the various acknowledged recessions since the end of WWII. One of the articles of faith from the always surprised Economists is that job creation lags other indicators, yet here we are, over two years since the “end” of the last recession and the official unemployment rate is still at 9.1% with the underemployed figure at 16.2% for August 2011.

Economists Who Are Always ‘Surprised’ Should Re-Think Their Models and Assumptions

By: Thursday September 15, 2011 4:15 pm

Do they all become pod people when they go to DeeCee or is there just something about being an elected official that turns once (possibly) reasonable people into the worst type of concern troll (definition 2)?

Once a Year Speeches Do Not Mean Support for Workers

By: Monday September 5, 2011 6:30 pm

Today is Monday, September 5, 2011. Since it is the first Monday of September, it is the national holiday known as Labor Day. Supposedly, it is the day when our politicians and pundits proclaim their unrelenting love for all things worker related – even as they spend the other 364 days a year doing all in their power to destroy the lives of workers by cutting salaries, limiting benefits. Just today, the Washington Post’s Robert Samuelson had a column decrying the state of labor in the US:

If Beltway Pols Were 1st Responders, No Foundations Would Be Saved

By: Sunday August 28, 2011 6:42 pm

Over two years into the “recovery” and less than a quarter of the lost jobs from the Great Recession have been returned.

So while Christine Lagarde cautions political leaders against too much belt tightening, we see House Majority Leader Eric Cantor proclaiming that any hurricane or earthquake relief funds must be offset by other spending cuts.

So Where Exactly Is That Good Economic News?

By: Thursday August 18, 2011 6:24 pm

Well, here we go again. As usual, the past couple of weeks there have been a few articles on how the economy really isn’t THAT bad. In fact, that was a large part of the title of this article from McClatchy while USA Today offered up this from a Maria Bartiromo interview with the head of AIG, Robert Benosche (with a McCainesque “There’s a core of strength to the economy”). However once again, the reality on the ground rears up to refute the cheerleaders. Today’s (Thursday, August 18) Initial Unemployment Claims report for last week is out and the numbers are back over the dreaded 400k line once again (via Reuters):

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