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Employers Aren’t Just Whining – the “Skills Gap” Is Real / JOHN MAULDIN / AUGUST 27, 2014

Paul Krugman and other notables dismiss the notion of a skills gap, though employers continue to claim they’re having trouble finding workers with the skills they need. And if you look at the evidence one way, Krugman et al. are right. But this week an [...]

Europe: Is the Deepening Crisis Coming to a Head? / By Staff News & Analysis / August 21, 2014

Nobel economists say policy blunders pushing Europe into depression … German Chancellor Angela Merkel defends eurozone and says it is hard to manage a currency for 18 states … Professor Joseph Stiglitz said austerity policies had been a ‘disastrous [...]

“Mission Accomplished” for Yellen, Draghi and Abe? / Bill Bonner / August 21, 2014

The Advantages of a Celtic Temperament

We are doing a quick tour of Britain and Ireland, catching up on business. No time to write much this morning… We need to rush to a plane.

The weather, generally, is terrible. Cold. Windy. Rainy. It [...]

Job = Just Over Broke / By Michael Snyder / August 12th, 2014

If you are fortunate enough to have a job in America today, the phrase “just over broke” probably describes you. Yes, there are a handful of jobs that certainly pay very well, but most Americans that work for somebody else are just barely making [...]

Here’s Why Wages Might Rise Despite Millions of Unemployed Being Available for Work / CHARLES HUGH SMITH / SUNDAY, AUGUST 10, 2014

Tragically, the inability of our institutions to impart the skills required by the emerging economy hobble not just the unemployed but employers.

A reader recently offered a compelling reason why total compensation costs (wages plus benefits/payroll taxes) could rise even in a [...]

Fed Study Finds 2 million in “Forced Retirement”, 52% Cannot Afford an Unexpected $400 Expense / Mike “Mish” Shedlock / Thursday, August 07, 2014 11:20 PM

I have talked about “forced retirement” 174 times over the course of the past few years.

I defined the term as those who retired because they had to, not because they wanted to.

Why might they have to? Easy. If [...]

Meet “McCashier” Your $15.00 Per Hour McDonald’s Worker Replacement / Mike “Mish” Shedlock / August 07, 2014

Sure. You can make $15 an hour at McDonald’s, at least in Seattle. You just have to perform better than this machine.

But if you are not more cost effective that that machine, then not only do you not make $15, you do not [...]

“The Rebels Attacked Our Camp… and Started Shooting at Our Helicopter” / Bill Bonner / July 23, 2014

Rebel Attack in the Congo

“The rebels attacked our camp. We had to make a run for it. The government troops, who were supposed to be guarding us, ran too.”

“‘Musungu! Musungu!’ I heard them yelling. A ‘musungu’ is a white person. They [...]

Job Hiring Far Below Pre-Lehman Levels As Yellen’s Favorite Labor Metric Redlining / by Tyler Durden / 07/08/2014 10:32

There was some good news in the JOLTS report released earlier today, mostly in the form of the Job Openings category which surged from 4,464K in April to 4.635K in May, well above the 4350K expected and the highest print since 2007 (granted the [...]

92 Million Americans Unemployed As Many As Millions Illegal Immigrants Heading For Us Border. Guess What I Was Just Told? The Economy Is Getting Better. WTF? / July 4th, 2014

Record Number of Americans Not in Labor Force in June

( – The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the [...]

Only Half Of Office Space Vacated Since Lehman Has Been Reoccupied / by Tyler Durden / 07/01/2014 14:19

One would think that with the economy, allegedly, growing at above-trend rates as Goldman has wagered for the second time in 4 years (the first time Hatzius was dead wrong), with jobs being added at what the BLS would have the market believe is [...]

There is Work After Death / Pater Tenebrarum / July 1, 2014

Dropping Dead from Stress

People die from all sorts of things, often quite unexpectedly. Shoot-outs in the middle of a ceasefire in the Donbass, crucifixion or beheading by the “Islamic State” in some desert backwater in Iraq, or that widely underestimated killer known as “falling [...]

Pending Home Sales Jump In May; Drop YoY For 8th Month In A Row / by Tyler Durden / 06/30/2014 10:10

Pending home sales surged by 6.1% MoM in May; this is the largest jump since April 2010 (when first-time buyers scrambled to sign contracts before tax credits expired. However, exuberant spike aside, this is the 8th month in a row of a year-over-year drop in home [...]

The Austerity Diaries: If You Don’t Have a Job, Make One Up / Daisy Luther / June 13, 2014

With unemployment rates skyrocketing, going out and finding a new job can be nigh on to impossible these days. This is only going to get trickier as the government continues to force businesses to increase the minimum wage. Workloads that used to provide employment to [...]

The High Cost of Minimum Wages / by Benjamin M. Wiegold / Friday, May 30, 2014

In Switzerland on May 18 there was a vote to establish a minimum wage rate at a world record $25 an hour: the vote was rejected overwhelmingly as an estimated 76 percent voted against it.

As USA Today reported, [...]

Debt Rattle May 29 2014: The New Normal is Negative / by Raúl Ilargi Meijer / May 29, 2014

No, the nonsense will not stop, and neither will the torture. At least 5 years into the alleged recovery, US GDP contracted by -1% in Q1 2014, down from last month’s estimate of a 0.1% growth. Why? It’s still the weather, say the “experts”. But [...]

Spot The Odd Job Market Out / by Tyler Durden / 05/29/2014 14:14

When the BLS reports the May job number in one week’s time, it will mark a historic threshold: this will be the report when the total number of jobs lost during the financial crisis at the national level is finally recovered, and the US [...]

Fun Fact: Shale Strippers Make Up To $2,500 Per Night / by Tyler Durden on 05/26/2014 14:31

We have discussed the ‘downside’ of America’s “black gold” rush and the town of Williston, North Dakota is the poster child for the costs and benefits of this exuberance. But, as The BBC reports, there is some silver lining for those willing to deal…”Strippers can earn $2,500 [...]

Amazon to Increase Robots from 1,400 to 10,000 by End of 2014; Day in the Life of a Robot / Mike “Mish” Shedlock / Friday, May 23, 2014 2:32 AM

Have a job moving stuff or filling orders in a warehouse? If so, your job is in jeopardy.

Please consider Bezos expects 10,000 robots at Amazon warehouses by 2015 plans to aggressively expand its use of robots at [...]

This Is Why Hewlett Packard Just Announced Another 16,000 Job Cuts / by Tyler Durden on 05/22/2014 16:26

The biggest scandal in today’s release of Hewlett Packard Q2 earnings was not that it hit 30 minutes prematurely, catching algos unaware and unable to BTFD when the stock tumbled on what was a revenue miss and 1% decline from last year, nor that the company guided [...]

Why Are Boomers Cashing Out In Droves? Because “Everyone Understands The Market Went Crazy Last Year” / by Tyler Durden on 05/22/2014 15:56

“This issue of participation in the labor force is a highly contentious one,” notes RDG’s Jon Ryding and has been extensively discussed here as some people leave the labor pool and retire after giving up on the job search (do people really want to work past [...]

56% Of Recent Black College Graduates Get A Job That Does Not Require A College Degree, CEPR Finds / by Tyler Durden on 05/21/2014 17:05 -0400

With everyone focused on what is undisputedly the next mega credit bubble in the form of student loans, which in the most recent quarter hit a record high of over $1.1 trillion, the topic of college education, and specifically its utility, has gotten much press coverage [...]

How Bureaucrats Undermine Everything / By Martin Armstrong / May 21, 2014

Bureaucrats are truly the plague of society. These are typically the people afraid to actually get a job in the real world for they would have to be judged upon their skills. They more often than not like the safe steady job where they cannot be [...]

Don’t Blame “Boomers” For Not Retiring / By Lance Roberts / 14 May 2014

Every month when the employment data is released there is an almost immediate debate that erupts over the Labor Force Participation Rate. Like any good boxing match, both sides take to their corners. Defenders argue the decline is primarily due to retiring “baby boomers” and demographic [...]

Europe’s Own Revolving Door: JPMorgan Hires Italy’s Former Finance Minister Grilli / by Tyler Durden / 05/12/2014 06:51 -0400

After a job well done by a public servant, and by a job well done we of course mean facilitating the transfer of middle class, taxpayer wealth to private bank accounts, it is customary to reward them with a comfortable job in the [...]

Sequester Death Toll: One Job / By Matt Purple / May 9, 2014

At the core of the dysfunction in Washington is this dilemma: Government must approve spending cuts, yet government has no interest in approving spending cuts. Federal employees are quite content with their lifestyles—46 percent more in retirement benefits than the private sector, cozy job security—and don’t [...]

A Red-Flashing JOLT: Manufacturing Job Openings Signal Recession Dead Ahead / by Tyler Durden on 05/09/2014 13:55 -0400

Contrary to the April nonfarm payroll data, today’s JOLTS report was simply ugly. First, the total number of Job openings of 4014K, missed significantly the expected number of 4125K, dropping 111K last month, and the worst since December’s 212K tumble when as everyone recalls, the weather [...]

Among The Perks For Amazon’s Part-Time Workers: Being Homeless / By Tyler Durden on 05/06/2014 18:47 -0400

Judging by the narrative promoted after last Friday’s idiotically connived jobs report, any job is a good job… however, as The Guardian reports, that does not include a job working for Quarter after quarter, we highlight the growth in Amazon employees (and death-cross-like plunge in [...]

The Number Of Working Age Americans Without A Job Has Risen By 27 MILLION Since 2000 / By Michael Snyder / May 4th, 2014

Did you know that there are nearly102 millionworking age Americans that do not have a job right now? And20 percent of all families in the United States do not have a single member that is employed. So how in the world can the government [...]

Almost 3 Times As Many People DROPPED OUT of Labor Force As Joined It / WashingtonsBlog / May 3, 2014

“Rarely Does A Monthly Report On The United States Job Market Look So Terrific On The Surface While Being So Disappointing Underneath”

The New York Times’ Neil Irwin gives a balanced view of the new jobs numbers:

Rarely does a monthly report on the United States job market [...]