Corrente

If you have "no place to go," come here!

Hugh's blog

The BLS Jobs Report Covering April 2014: A Tale of Two Contradictory Reports And Deeply Mixed Messages

The Brief Version
This is a very schizophrenic jobs report. In the seasonally adjusted “official” data, the unemployment rate dropped an amazing four-tenths of a percent to 6.3% but this was accomplished completely by contraction in the labor force (-806,000) and employment actually fell slightly. Read below the fold...

Bad Jobs And Worse Commentary

Tags: 

In an April 27, 2014 article entitled Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones by Annie Lowrey, the New York Times finally got around to acknowledging what many of us have been chronicling for sometime, the poor quality of jobs created since the end of the recession. Lowrey was writing on a report issued by the National Employment Law Project. Read below the fold...

The Jobs Report For March 2014: After A Long Winter, The Economy Plays Some Catchup

The Brief Version

The usual seasonal spring rebuild in jobs was delayed a little this year due to the extended and severe winter. In March, some of this ground was recovered making it a particularly good month in seasonal terms. The labor force grew 600,000. This increase was comprised of a 956,000 rise in employment and a 356,000 drop in unemployment. What this means is that for each unemployed person who found work in March, two who were not counted in the labor force at all found work. Read below the fold...

A Reply To Adolph Reed: The Democratic Party Is Not The Left

I don't think the American left has retreated. Rather I think you have a lot of organizations that portray themselves as "liberal", leftist is a term they have always fled from, whose leaderships and tribal memberships have embraced the corporatist agenda. Or perhaps I should say re-embraced it, and its current kleptocratic form. Read below the fold...

BLS Jobs Report Covering January 2014: Revisions and Seasonal Lows

The Brief Version

Because of yearly revisions, direct December-January comparisons are dicey. I will just note that, in the business survey, seasonally adjusted 197,000 jobs were added December 2012-January 2013 as compared with 113,000 this month, December 2013-January 2014. Keep in mind that anything below 200,000 is weak, and anything below 150,000 is bad. Read below the fold...

The Real State of the Union

The state of the Union is crap. 20% of the country is doing OK. 1% is doing fantastically. 0.001% is doing so well it’s criminal, literally. They don’t own everything yet but they do own all the politicians, judges, regulators, academics, and reporters. So they’re getting there. The other 80%, the rubes, the muppets, the serfs, are mired in an undeclared, ongoing depression. Read below the fold...

Obama's NSA Speech: Review Without Review, Reform Without Reform

Obama’s speech on intelligence gathering was the full on horseshit performance many of us thought it would be.

Obama began with a revisionist, some might say tortured, reworking of American history which placed the NSA in the tradition of Paul Revere and the Sons of Liberty. I guess what they say is true, that patriotism is the last refuge of scoundrels and Obama’s wrapping the NSA’s war on the Constitution up in the flag certainly qualifies.

But it is when Obama arrives at 9/11 that he really goes off the rails and dispenses with any semblance of reality. Read below the fold...

The BLS Jobs Report Covering December 2013: A Bad Report

The short story is this. In the Household survey, seasonally adjusted unemployment fell an incredible three-tenths of a percent to 6.7% in December. The labor force is around 155 million. 0.3% of that is around 450,000 workers. In fact, it was 490,000. Yet the Business survey reported, also seasonally adjusted, an increase of just 74,000 as compared to the upwardly revised November number of 241,000. Read below the fold...

Edward Snowden, Non-Person of the Year

Tags: 

Time Magazine that bastion of Conventional Wisdom named Pope Francis as its Person of the Year. The whole notion of a Person of the Year is kind of hokey –there’s a word I haven’t used in a while. On one level, it’s a perpetuation of the Great Man view of history, that history is not made by the peoples of this world but by their leaders. You can see why this concept would be so attractive to the rich and elites who actually run things. Leaders, if they don’t come from these classes eventually join them, and their very notoriety distracts from the power the rich and elites wield. Read below the fold...

The BLS Report Covering November 2013: Effects of the Government Shutdown Fade, Part Time Work Increases

In the household survey on employment, seasonally unadjusted, the October government shutdown took out expected October highs and created losses in numerous categories. In November, these were largely reversed. The biggest ongoing hit is to the labor force which is still 490,000 smaller than it was in September. And while employment increased, unadjusted, 631,000, most of this was in part time jobs (554,000). Read below the fold...

The BLS Jobs Report Covering October 2013: Effects of the Shutdown Mostly Hidden But Still Large

The October 2013 shutdown of the federal government affected seasonally unadjusted data in the Household survey only. It did not affect seasonally adjusted data in the Household survey or any data, adjusted or unadjusted, in the Establishment survey. Since official numbers, like the unemployment rate (7.3%) and jobs created (204,000), are seasonally adjusted, no effect from the government shutdown will be seen in them. Read below the fold...

Income, Poverty, and Healthcare 2012: The Patient Did Not Get Worse But Remains Seriously Ill

The Census Report “Income, Poverty, and Healthcare” covering the year 2012 came out on Tuesday. Overall, the picture was little changed from 2011, which is to say that the recovery which did not happen for most Americans in 2011 continued not to happen for them in 2012. The situation for women remained poor. (All amounts are expressed in 2012 dollars. Incomes and earnings are pre-tax.)

Income Read below the fold...

Pages

Subscribe to RSS - Hugh's blog