Archive for employment

Quickie- US unemployment aid applications plummet to 346K

greatnews

Gotta love adjusting!

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell sharply last week to a seasonally adjusted 346,000, suggesting March’s weak month of hiring may have been a temporary slowdown.

US unemployment aid applications plummet to 346K Unemployment aid applications dropped by 42,000 last week, the Labor Department said Thursday. The steep decline reversed sharp gains over the previous two weeks and brought the level back to a point that signals stronger job growth.

The four-week average, a less volatile measure, rose 3,000 to 358,000.

Video- Equal Pay Day

Seems like common sense so no wonder the R’s want nothing to do with it.

Democrats in Congress are recognizing “Equal Pay Day” and using it to push for progress and passage of the Paycheck Fairness Act.

The legislation, which has been introduced numerous times in Congress, but never passed in both chambers, would prohibit employers from paying a man more than a woman for the same job and stop employers from punishing women who call them out for pay disparities.

“It is not a women’s issue. It is an economic issue for families,” says the bill’s sponsor, Rep. Rosa DeLauro, D-Conn. “We have had real opposition to the bill. There is a lack of belief that this exists.”

The Census Bureau estimates that the average earnings ratio between a man and a woman is that women make 77 cents for every dollar men do. That stat, however, is not an average of each industry, but a composition overall. According to the fact checking website Politifact, female computer programers make 95 cents for every dollar their male counterparts make; female lawyers, on average, make 78 cents on the dollar and female financial advisers are estimated to make just 58 cents on the dollar.

Weekly job claims slide, “signs that things are getting better.” #BlameObama

drive the gop crazy

Republican heads will be exploding in 3… 2… 1…

Via CNBC:

The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to a continued steady improvement in labor market conditions.

Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 341,000, the Labor Department said on Thursday. The prior week’s claims figure was revised to show 2,000 more applications received than previously reported.

Economists polled by Reuters had expected claims to fall to 360,000.

This is consistent with the good news coming out of the employment market, signs that things are getting better,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

bikini graph Feb 2013 private sector

Chevy Camaro production to move to US

bigthree

Scares me to think that this is a result of right to work bullshit, but at least it’s jobs and American cars.

You might think the Chevy Camaro is one of the ultimate expressions of American motoring muscle–and you’d be correct, except for the fact that it has been built in Canada since its 2009 return to production.

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That won’t be the case with the sixth-generation Camaro, however, as production is moving out of the Oshawa Car Assembly plant in Canada and into the Lansing Grand River Assembly Plant in Michigan.

Reasons for the move, according to Chevrolet, are improved production efficiencies and lower capital investment, as the Camaro is the only rear-wheel drivevehicle currently built at Oshawa. The Lansing plant also builds the ATS and CTS, so adding the Camaro to it “consolidates the RWD assembly with the Cadillac CTS and ATS.”

The poor favor Democrats, minorities do better under Dem administrations than Republican ones

Professor of political science and author Zoltan Hajnal and political science doctoral student Jeremy D. Horowitz wrote an op-ed for the L.A. Times that is chock full o’ common sense conclusions.

They explain why, without question, minorities do better under Democratic administrations than under Republicans, and it’s all backed up by raw data. Facts are facts, Republicans, no matter how you try to ignore or bend them.

Nor does it matter how many times Mitt Romney (who famously said, “It would be helpful to be Latino”) whispers to his donors at secret meetings how President Santa Obama handed out free gifts to all you not-white, not-wealthy, “illegal” people. There’s a reason (or 12) why BigBucks McWrongerson lost the election, and it had nothing to do with socialist, Marxist, Kenyan handouts:

The data we analyzed show unequivocally that minorities fare better under Democratic administrations than under Republican ones. [...]

Under Democratic presidents, the incomes of black families grew by an average of $895 a year, but only by $142 a year under Republicans. Across 26 years of Democratic leadership, unemployment among blacks declined by 7.9%; under 28 years of Republican presidencies, the rate increased by a net of 13.7%. Similarly, the black poverty rate fell by 23.6% under Democratic presidents and rose by 3% under Republicans.

The results for Latinos and Asians, though based on fewer years of data, show the same pattern. [...]

More important, these gains do not come at the expense of whites… These numbers show that economic condition need not be a zero-sum game pitting races and ethnicities against one another.

This also can’t be rationalized by asserting that Democrats just happen to be in power when things are looking up, or because of the fiscal policies of Republicans who preceded them.

Additionally, the longer Democratic administrations are in office, the more minorities experience economic gains, but the opposite is true under Republican presidents. The authors attribute this to education, economic, and immigration policy differences between the two parties that benefit minorities, whose population numbers are growing… one more fact that scares the pants of the GOP.

Please read the whole piece for specifics. In fact, that might be a particularly wise thing for Republicans to do.

Private hiring jumps, unemployment claims fall, consumer confidence highest since February 2008

I got a few upbeat email alerts today from Fox Biz. Blame Obama:

The Conference Board’s index of U.S. consumer confidence rose to 72.2 in October from a downwardly revised 68.4 in September. The results missed estimates of a reading of 72.5, but marked the index’s highest level since February 2008.

And this:

The Institute for Supply Management Manufacturing PMI gauge rose to 51.7 in October from 51.5 in September, the highest reading since May. The index was expected to fall to 51.2. Readings above 50 indicate expansion while those below indicate contraction.

And this:

Several upbeat reports on the American and Chinese economies, coupled with strong earnings from oil behemoth ExxonMobil, are sending stocks zooming higher. The Dow is up 138 points, or 1.1%, while the broader S&P 500 is up 0.84%. Nine of ten S&P 500 sectors are in the green, led by industrial, technology and telecommunications stocks.

Full market update: http://www.foxbusiness.com/markets/2012/11/01/data-give-wall-street-boost/

And here’s more from CNN:

NEW YORK (CNNMoney)Private sector hiring jumped in October, according to a report released Thursday by payroll processor ADP.

Private employers added 158,000 jobs in the month, ADP (ADP, Fortune 500) said, beating economists’ forecasts of 143,000.

The October report is the first to feature ADP’s new methodology aimed at further aligning its figures with the final monthly data released by the Bureau of Labor Statistics. The ADP report comes out a day before the government’s official monthly job report, though it has not always been a great predictor of what the BLS report will say.

U.S. Consumer Spending Climbs Close to a Four-Year High

Any good news.

WASHINGTON, D.C. — Americans’ self-reported daily spending averaged $77 in August, up from $73 in July, and the best August spending level recorded since 2008. It is also the highest average monthly spending since December 2008.

The results are based on Gallup Daily tracking from Aug. 1-31. Each night, Gallup asks Americans to report how much they spent the prior day apart from normal household bills or the purchase of a car or home.

Lower- and Middle-Income Consumer Spending Ticks Up

Spending among American households with annual incomes of $90,000 or less averaged $63 in August, up from $59 in July — the highest level since December 2011. Upper-income spending, which has been on a generally upward trajectory so far in 2012, was unchanged in August, averaging $135 as it did in July.