The September unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 45 months. Now we have a new record, the average duration of time being unemployed is at record highs for as long as the BLS has kept track, 1948. Below is the graph, which looks like a time bomb.
September's unemployment report is worse than the 58,000, sans striking Verizon workers, job growth. People being forced into part-time jobs skyrocketed by 444,000 in a month, to a tally of 9,270,000 people.
The September 2011 monthly unemployment figures show the official unemployment rate remained at 9.1% and the total jobs gained were 103,000. 45,000 of those jobs are not new jobs, but Verizon workers who returned back to work after being on strike. Total private jobs came in at 137,000. If one subtracts off the returning strikers, September showed 82,000 new private sector jobs. Government jobs dropped -34,000.
We know bad trade deals have cost millions of American jobs. We have a jobs crisis with no growth in site. So, why in God's name would Congress pass more of the same? The South Korean trade deal has been analyzed to lose 159,000 jobs. The Panama trade agreement creates corporate tax havens that will be completely out of reach by the United States. Add in the Columbia trade deal and we've lost 214,000 jobs.
The U.S. Congress Joint Economic Committee held a hearing, aptly titled, Manufacturing in the USA: How U.S. Trade Policy Offshores Jobs. The title says it all, eh? Unfortunately the actual hearing didn't have the right economists who would show amply with statistics and facts, the overall hearing title is oh so true.
Contained within is the obligatory other side of multinational corporations, and the real agenda of this hearing is some token retraining for U.S. workers who will lose their jobs as a result of these bad trade deals.
China is like a bunch of yelping dogs. So says Senator Sherrod Brown. When it comes to doing anything about our massive trade deficit with China, out come the pundits, corporate plants, threats and misinformation, all in an effort to stop our government from taking any action. Will the Senate actually listen to the statistics and the cries of the U.S. worker, ignore the snapping dogs, barring their teeth, nipping at their heels, and vote to do something?
Update: Yes the Senate did man up and voted for cloture, allowing the the vote for passage to occur. Here are the votes and it was 62 to 38. The bill still has to pass and Boehner is blocking the bill in the House.
Steve Jobs has died. He was 56 years old. Pancreatic Cancer finally got him. This should come as no surprise since Mr. Jobs gave up his Apple CEO position earlier on August 24th.
This is a sad day for techies. Steve Jobs was the good one in terms of innovation and vision. To this day black hardware otherwise known as a NeXT computer is admired as one of the most brilliant and innovation systems to date. The operating system from the NeXT spawned eventually OS X, which propelled Apple back from the brink of extinction.
Apple has put on their entire front page a memorial to Steve Jobs with an email to share thoughts and condolences. Rightly so, his spirit is entwined throughout the company.
Apple has lost a visionary and creative genius, and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.
May his innovative spirit live on. MacWorld has created a biography of Jobs and noted he reigned as Apple CEO for 14 years.
The American Banker's Association released their Q2 2011 consumer loan delinquency statistics. A delinquency is a loan payment that is 30 days or longer late. No surprise, people late on payments or defaulting increased for Q2 2011.
ADP, released their proprietary private payrolls September jobs report. This month ADP is reporting a gain of 91,000 private sector jobs in September. August 2011 was revised down to 89,000, from 91,000. In August, the BLS reported 17,000 private sector jobs. Below are the reported private sector jobs from ADP.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
China is like a bunch of yelping dogs.
Recent comments