What We're Reading

jobs (15)

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Facebook Is Chasing A Much, Much Bigger Jobs Market

Facebook is getting into a new type of networking.

The social media giant said this week that it is rolling out new features in the US and Canada to let businesses post job openings, and prospective workers find and apply to them through Facebook. “This new experience will help businesses find qualified people where they’re already spending their time—on Facebook and on mobile,” the company said in a blog post.

The system Facebook debuted on Feb. 15 aims to minimize hassle for job-seekers and employers, while also giving both more reasons to use Facebook products. Businesses will be able to post jobs and track applications directly from a company…

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Is The Fed About To Experience A Repeat Of 2016?

In the most recent Summary of Economic Projections, Fed officials penciled in three 25bp rate hikes for 2017. The reality, however, could be very different. We all remember how “four” became “one” in 2016. The median dots are neither a promise nor an official forecast. As 2016 progressed, forecasts associated with a lower path of SEP “dots” evolved as the consensus view of policymakers. Will the same happen this year? I don’t think so; it is hard to see the Fed on pause for another twelve months.

As a starting point, I think it best to assume the US economy is near full-employment. But the US economy was near full-employment at this time last year as well. I think the key difference between then and now is that then the after-effect of the oil price slide and dollar surge placed a drag on the US economy sufficient to ease hiring pressure. At the same time, labor force participation perked up, setting the stage for a flat unemployment rate for most of…

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What Might Happen In China In 2016

In debates about whether growth is a percentage point up or down, we too often lose sight of the absolute scale of China’s economy. No matter what rate the country grows at in 2016, its share of the global economy, and of many specific sectors, will be larger than ever. My snapshot of China in 2016? An increasingly diverse, volatile, $11 trillion economy whose performance is becoming more and more difficult to describe as one dimensional.

The reality is that China’s economy is today made up of multiple subeconomies, each more than a trillion dollars in size. Some are booming, some declining. Some are globally competitive, others fit for the scrap heap. How you feel about China depends more than ever on the parts of the economy where you compete. In 2015, selling kit to movie theaters has been great business, selling kit to steel mills less so. In your China, are you dealing with a tiger or a tortoise? Your performance in 2016 will depend on knowing the…

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Jobs. The Winners And The Losers

It’s time for what is arguably the world’s most influential monthly economic update.  The US economy generated 280,000 new jobs in May, as the world’s largest economy continues to shake off a sluggish first quarter.

The unemployment rate rose slightly to 5.5%. We’ll be rounding up our best charts, as well as the best ones we see from around the web in the lead-up and aftermath of the 8:30 a.m. data release.

Now let's take a look at the winners and losers.  Notice the 253,000 people who previously had no job and were not looking.........that's a big shift if you ask me.  One to the bullish side.  They're up off of Mommy's couch (finally).

A look by sector breaks it down.

A big gainer? Healthcare…

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Admin

Rig Counts Continue Their Plummet

As the latest Baker Hughes rig count continues to plummet with the collapse in oil pricing some are still trying to catch a bottom.

Total Rigs down to 1633
Down -43 or -2.6% compared to last week
Down -144 or -8.1% year-over-year

Gas seems to be shuttering more than oil and inland waters more than land or offshore.

With many pundits forecasting crude to remain low for a few years (barring disruption in supply) this will be interesting to monitor going forward.

With Schlumberger (SLB) to layoff 9000 and Baker Hughes (BHI) to layoff another 7000, this is only the tip…

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Admin
The last few decades a shift took place and Loan Officers have been paid minimal base salaries with commission; obviously an incentive to originate and reap better pay if/when their loans closed. You weeded out the dredges with ease. In this day and age, I would not be too surprised to see an expansion in "internship" positions across the nation. 'We will train you as you go. Prove yourself and then maybe we'll pay you.' Smart for business (rarely are interns paid any compensation) but very sad for the entry level worker.

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S&P on Income Inequality, Education, Jobs and Taxes

The topic of income inequality and its effects has been the subject of countless analysis stretching back generations and crossing geopolitical boundaries. Despite the tendency to speak about this issue in moral terms, the central questions are economic ones: Would the U.S. economy be better off with a narrower income gap? And, if an unequal distribution of income hinders growth, which solutions could do more harm than good, and which could make the economic pie bigger for all?

Given the decades--indeed, centuries--of debate on this subject, it comes as no surprise that the answers are complex. A degree of inequality is to be expected in any market economy. It can keep the economy functioning effectively, incentivizing investment and expansion--but too much inequality can undermine growth.

Higher levels of income inequality increase political pressures, discouraging trade, investment, and hiring. Keynes first showed that income inequality can lead affluent households…

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Where The Jobs Are 5 Years Into The Recovery

Five years since the end of the Great Recession, the economy has finally regained the nine million jobs it lost. But not all industries recovered equally.  This awesome interactive from the NYTimes demonstrates what's moving and what is not along with over 200 charts drilling it down in simple terms.  Tell your high school and college attendees.  Are they in these growth areas?   Click chart to make the jump to the interactive.

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Admin

Job Search: 47% Have Completely Given Up

Not all Americans are enjoying the slow economic rebound. A poll found that about half of unemployed workers say they have given up looking for a job.

A Harris poll on behalf of Express Employment Professionals conducted last month found that 47% of such workers say they have "completely given up looking for work." The survey of 1,500 unemployed adult Americans also found that 82% of those who receive unemployment compensation say they would look harder for a job if those payments ran out. The other 18% agreed with the statement that they would be in such despair, they would give up looking for work altogether.

Among other findings, the survey also revealed that 60% of respondents feel that…

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Admin

Funday Monday Reads May 19th

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Hump Day Reading

  • For all the worrying about weather impacting job creation, Trim Tabs say real time tax receipt data (allegedly more reliable than BLS data) suggests that the economy has been picking up steam.  24/7WallStreet
  • A 8.2% magnitude earthquake overnight off the coast of Chile with a 2 meter tsunami.  Supposedly mining operations have not been affected buy you try to tell that to silver and gold this morning.  They're not buying it (so far)
  • Interesting metrics from …

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First, if you are going to criticize something...be prepared to offer solutions/remedies to what your criticizing...Otherwise you are just a wind-bag-arm-chair-critic! I have a plan to put about 400,000 people to work in the next two months time. With no more than a signature of a pen.There's roughly about 140,000* gas stations (70% of them having convenience stores and gas stations) in the USA. Now, only in New Jersey and Oregon is it illegal to pump/dispense your own gas at the station. Thus requiring a filling attendant to put gas in your automobile.Well, if we, meaning individual states governors of the states that dont have them self service laws. Enact similar laws....no....I change that to town ordinances...I say ordinances because this could be started by municipalities passing city ordinances to do this first..citing local unemployment #'s and blithe and economic hardships...to get the legal ball rolling...And make gas stations hire workers to fill tanks. Albeit they will…

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Wow! are they ever hyping the impact/importance of the NEXT unemployment numbercoming. It's not as "paradigm shifting" as they make it. Regardless of what is shows or not. It's a drummedup/conjured to suite fit number....Agreed or disagree? They act like it's goingto end all problems on slightest statistically anomaly pimple. It dont change the factpeople are living longer ....and by default working longer/later into life to keep w/ rampantrise in cost of living....All while technology efficiency and automation and corporateprofit seeking to appease the "Masses" takes away(exponentially) the jobs neededto maintain.... let alone thrive and grow a vital economy. Thats the trade off with risinglife expectancy due to exponential advancements in medicine that keep peoplealive longer. Some say we as a species are on the cusp of immortality. Imaginewhat unemployment numbers will be then!I remember Judge Smails from 1980's cult classic "Caddy Shack"...when Danny was sucking up to him for…

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