Lift-off. That’s the conclusion to which observers jumped when the government announced on Friday that the economy added 271,000 jobs in October. And that the August and September figures have been revised upward by 12,000. And that the unemployment rate fell to 5 percent. And that discouraged workers and those looking for fuller-time jobs fell to 9.8 percent of the work force, the lowest level since May 2008. And that average hourly earnings in the private sector were up by 2.5 percent from October of last year, the strongest reading since July 2009.Read more
Strange as it may seem, Barack Obama has much in common with the storied matchmaker of Jewish legend. This Polish entrepreneur announced to the poverty-stricken rabbi of a poverty-stricken Polish town that she had found a match for his even more poverty stricken, unattractive son – no less than the queen of England. The Rabbi refused to consent to the match on the grounds that the queen was not Jewish.Read more
Two weekends ago, the Federal Reserve Bank of Kansas City held its annual monetary conference in Jackson Hole, Wyoming. The left flew in hundreds of protesters donning green T-shirts that demanded “Higher Wages for America” and chanting, “We’re Fed Up.” The crowd was an assortment of college kids on their summer break, disgruntled middle-aged teachers, senior citizens, and blue-collar union members. Think Occupy Wall Street.Read more
Wisconsin governor Scott Walker entered the Republican presidential race Monday in a forward-looking announcement speech that touched upon conservative principles that have guided his work in the state.
Gallup’s latest figures are keeping the index at the lowest monthly reading since November.And, one needs to keep in mind that these findings do not reflect consumer reaction to the news from Greece which finally did run out of other people’s money and China where the stock market is cratering with losses measuring in the trillions.So it is not encouraging that:In June, 42 percent of people said the economy is getting better and just over half Read more
Parades, fireworks, patriotic songs, 150 million hot dogs consumed, 41 million car trips of more than 50 miles -- and heightened security in reaction to Islamist terrorist threats to disrupt our celebration with murder and mayhem as part of their celebration of their holy month of Ramadan. That’s all part of the celebration of our independence from Britain, which at that time specialized in governing us by executive fiat.Read more
The White House is celebrating the most recent jobs numbers.Read more
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.Read more
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.Read more
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 agRead more
President Obama can’t run again, as he noted in the State of the Union last month, but he sought to use his address to set the tone for the 2016 campaign. His repeated references to “middle-class economics” were tactful code, speaking in front of a Republican-controlled Congress, for that perennial Democratic favorite, the inequality debate.Read more
We should “stop thinking about the economy as being in a perpetual crisis” commented Charles Plosser, President of the Federal Reserve Bank of Philadelphia, after the government announced on Friday that the private sector added 267,000 jobs in January, and that upward revisions to November and December data brought total job creation in 2014 to over three million.Read more
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