8:44 AM, Sep 6, 2013 • By DANIEL HALPER
CNBC contributor Rick Santelli responds to today's jobs numbers:
"And you can't play this three card monte game for long. And to see the stock market rally on crappy data to me is just a horrible dynamic. What are we, a banana republic?"
8:31 AM, Sep 6, 2013 • By DANIEL HALPER
The U.S. Bureau of Labor Statistics reports:
THE EMPLOYMENT SITUATION -- AUGUST 2013
Total nonfarm payroll employment increased by 169,000 in August, and the unemployment rate was little changed at 7.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade and health care but declined in information.
Household Survey Data
Both the number of unemployed persons, at 11.3 million, and the unemployment rate, at 7.3 percent, changed little in August. The jobless rate is down from 8.1 percent a year ago. (See table A-1.)
8:01 AM, Sep 6, 2013 • By GEOFFREY NORMAN
When the Bureau of Labor Statistics releases the numbers, this morning, on August unemployment, the economics, finance, and political priesthoods will commence digging into the entrails to divine Truth.
10:26 AM, Sep 2, 2013 • By GEOFFREY NORMAN
The celebration of work and the working man and woman feels a little forced this year. Union have, as Kevin Bogardus of The Hill reports:
'More people retiring early, going on disability, turning to welfare, and giving up looking for work altogether.'9:01 AM, Sep 2, 2013 • By DANIEL HALPER
Alabama senator Jeff Sessions, a Republican, is marking Labor Day with a statement lamenting the decline in America’s workforce and the strident push toward passing an immigration bill.
12:00 AM, Aug 31, 2013 • By IRWIN M. STELZER
Monday will be an important day here in America. It is Labor Day, the day on which many of us say goodbye to summer – the last holiday from work until we carve our turkeys on Thanksgiving Day at the end of November. Barbeques will be fired up, beer kegs tapped, the all-too-short leases on beach homes will expire, stock exchanges will be shuttered, and thoughts turned to the new football season, especially in Washington and New York, where the end of the baseball season can’t come too soon.
11:02 AM, Aug 27, 2013 • By DANIEL HALPER
Senator Mary Landrieu, a Democrat from Louisiana, is making the case that some "cyber" jobs need to be moved away from the Washington, D.C. area -- and to Louisiana, where those people might be physically safer.
“Those jobs can’t all be based inside Washington, D.C., and Arlington, Va.,” she explained to a local paper. "Some of those jobs need to be located outside the blast zone."
Landrieu did not explain what blasts she expects to hit the Washington, D.C. area, or when those blasts might hit.
9:03 AM, Aug 23, 2013 • By JEFFREY H. ANDERSON
President Obama likes to talk about income inequality, but what matters far more is the actual income of the typical American. And how has the typical American household income fared on Obama's watch? Well, the economic "recovery" has now spanned an Olympiad, and during that time the typical American household income has not only dropped—it has dropped more than twice as much as it did during the recession.
9:44 AM, Aug 16, 2013 • By GEOFFREY NORMAN
It isn't easy getting people to buy something they neither understand nor particularly want to own. An example being Obamacare. But the Department of Health and Human Services has a solution.
12:00 AM, Aug 3, 2013 • By IRWIN M. STELZER
Spare a bit of sympathy for the Federal Reserve Board’s monetary policy gurus. They have said they will begin to “taper” their purchases of bonds and mortgages when the unemployment rate falls to 6.5 percent.
12:00 AM, Jul 27, 2013 • By IRWIN M. STELZER
Another presidential “pivot.” Having “pivoted” from Europe to Asia, Barack Obama’s White House has announced another pivot. This one, according to Politico, “to re-focus his oft-meandering message back on the economy.” It seems that voters are less interested in Obama’s drive for gun control (he couldn’t rally many in his own party to that cause), or his continued effort to toss billions at renewable energy just when the country is set to become a net exporter of fossil fuels than in seeing the unemployment rate come down.
1:11 PM, Jul 24, 2013 • By DANIEL HALPER
In an economic speech today, President Obama will say that "We’ve come a long way since I first took office. As a country, we’re older and we’re wiser." But more work remains.
Here are the president's remarks, as prepared for delivery:
9:27 AM, Jul 24, 2013 • By DANIEL HALPER
According to political reporter Salena Zito, today's economic speeches by Barack Obama represent the 19th "pivot" for the president: