11:18 AM, Jul 2, 2015 • By GEOFFREY NORMAN
Bloomberg reports that:
An increase in June payrolls followed smaller gains in the prior two months and wages were little changed as U.S. job market reflected a more moderate pace of economic growth.
The addition of 223,000 new jobs in June was less than the 233,000 thousand that had been expected and:
Revisions to prior reports subtracted a total of 60,000 jobs from payrolls in the previous two months.
Also the unemployment rate fell to 5.3% from 5.5% and
… is the lowest since April 2008.
But that decrease reflected fewer people in the labor force with:
The participation rate, which indicates the share of the working-age people in the labor force, [falling] to 62.6 percent, the lowest since October 1977, from 62.9 percent.
5:08 PM, Jul 1, 2015 • By GEOFFREY NORMAN
One reads of the crisis in Greece. And the one much closer to home in Puerto Rico. The crisis, that is, that inevitably comes after spending too much and taking on more debt than it is possible even to service, much less pay down. One thinks of how unfortunate it is for the people who will now redeem with pain, the promises made by the politicians of previous generations.
4:19 PM, Jun 18, 2015 • By GEOFFREY NORMAN
We have been hearing, for so long now, that the end is nigh in the crisis of the Greek economy that it is hard to take another such warning seriously. The problem of Greece, like so many others, seems to have no end, no resolution and, even, no point. Unless, that is, you are a citizen of Greece. Then it is your life.
4:28 PM, Jun 17, 2015 • By GEOFFREY NORMAN
The subject of debt – how much and how tolerable – slipped into the shadows for a time. But yesterday, it reappeared. As Rebecca Shabad of the Hill reports:
12:01 AM, Jun 6, 2015 • By IRWIN M. STELZER
On Friday we learned that the U.S. economy surprised on the upside by adding 280,000 new jobs in May, and that 32,000 more jobs had been created in March and April than originally reported. The fact that economic growth is still sluggish, while more and more workers are finding jobs, suggests that productivity -- output per man-hour -- is slowing.
8:42 AM, Jun 5, 2015 • By DANIEL HALPER
The latest jobs report from the Bureau of Labor Statistics shows the unemployment rate ticking up to 5.5 percent and that the economy added 280,000 jobs:
Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, leisure and hospitality, and health care. Mining employment continued to decline.
10:37 AM, Jun 2, 2015 • By GEOFFREY NORMAN
That negative 1st quarter GDP has been widely passed off as the effect of a particularly severe winter. Things, we were assured, were not that bad and would be getting better as the weather warmed. Well, not so fast. The Commerce Department came out this morning with a report on factory orders that was supposed to be in positive territory.
12:00 AM, May 30, 2015 • By IRWIN M. STELZER
There is an important difference between European and American appetites, in addition to those for fast foods: risk taking. “Investments in Start-Ups Pick Up Pace,” reports the New York Times after surveying the high-tech financing scene here in America. “Europe Struggles to Foster a Startup Culture,” reports the Wall Street Journal. It seems that in contrast with “multiple rounds of fund-raising [in the U.S.] in months, rather than years,” Europeans are “valuing prudence … and leisure time over flamboyant risk-taking.”
3:09 PM, May 8, 2015 • By THE SCRAPBOOK
THE WEEKLY STANDARD has a full-time position available for a web producer with editorial skills and social media expertise. Duties will include assisting the online staff with editorial and production tasks across a variety of digital and social media platforms.
Candidates should send a cover letter and résumé to hr (at) weeklystandard (dot) com
5:09 PM, Apr 30, 2015 • By GEOFFREY NORMAN
After yesterday’s disappointing GDP number (it grew by a meager .2% in the last quarter) we got this from Jason Furman, chairman of the White House Council of Economic Advisors:
7:14 AM, Apr 22, 2015 • By JERYL BIER
Speaking Tuesday at the 45th Annual Washington Conference of the Council of the Americas, Secretary of State John Kerry said that "countries are far more likely to advance economically and socially when citizens have faith in their governments and are able to rely on them for justice and equal treatment under the law." Kerry said that a "new kind of relationship" with Latin American countries, emphasizing democracy and human rights, will contribute to "our common ag