Closing Thought–24Nov21

It appears the workers have found a new clout basically because of the pandemic…..companies are starting to run scared…..workers are getting in control of their destinies…..I appears…..

The pendulum has swung toward the labor force, and US workers are taking advantage of it. With their pick of employment opportunities these days, more Americans than ever—4.4 million—left their jobs in September, CNN reports. That could become the norm. “Labor now has the initiative, and the era of paying individuals less than a livable wage has ended,” said one economist. “This strongly suggests that rising wages are going to be part and parcel of the economic landscape going forward.”

Those workers had 10.4 million vacant jobs to choose from in September, the Bureau of Labor Statistics reported Friday. Employers in health care and state and local government especially are dealing with more openings. There were slightly more vacant jobs overall in August, but that total was affected by the steady decline in hiring for leisure and hospitality jobs. While there were 7.4 million unemployed workers last month, per the Wall Street Journal, the site Indeed.com figured the number of US openings at 11.2 million. Workers also set a record in September with a quit rate of 3%, which refers to how many workers left their jobs as a share of overall employment.

The shift can be attributed to several factors, per the Washington Post. Some employers improved pay and benefits to attract hires. Coronavirus infections caused by the delta variant increased, making child care and school attendance less certain, and some workers were less eager to stay in jobs that require dealing with the public—including health care and education. Retirements were up. “Workers are fed up with working conditions and feel unsafe and quitting even though they might not immediately jump into a new job,” said an economist for Glassdoor.

This could be monumental for any labor movements….the workers are asserting themselves as they should have been doing for decades.

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Tomorrow is Thanksgiving….please be careful and be safe……

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Job Numbers Are Worrying

Could all this “booming” economy be worrying news?

The job market is one that has “real” economists worried….that one in the White House only played an economist on TV…nothing about him is expert.

AXIOS has done some research that needs reporting more….

The U.S. jobs market, having long been the bedrock of the nation’s economic expansion, is starting to worry economists ahead of next week’s payroll data.

What’s happening: After years of remarkably smooth sailing, 2019 has brought market volatility and some concern about whether the economy can keep adding jobs at a fast enough pace to sustain the expansion.

What we’re hearing: Job gains don’t necessarily have to turn negative to signal trouble, Mark Zandi, chief economist at Moody’s Analytics, told Axios at a labor market conference hosted by payroll processor ADP this week.

All that’s required is a strong slowdown in job growth. A 0.5% increase from a cyclical low on the unemployment rate has accurately predicted every recession in recent history and has never been a false positive, as Brookings economist Claudia Sahm noted recently.

  • “Once unemployment starts to rise, even from a very low level, it undermines confidence, and the only difference between an expanding economy and a recessionary one is faith,” Zandi said.
  • “A recession is a collective loss of faith, and people lose faith when they start seeing unemployment rise.”

Why now? A slowdown is not that unlikely, given the state of the labor market. The unemployment rate is at a 50-year low — it was 3.6% in May — and employers are reporting more trouble finding people to hire.

  • In a poll of small business owners conducted in May, 25% said that finding qualified workers was their No. 1 problem, according to the National Federation of Independent Business.
  • The trade war also is adding stress to the economy, but so far the effects have been concentrated in the trade and export sectors, which make up a small piece of overall employment.

What to watch: The all-important services side of the economy has been strong, but is beginning to feel the impact of the tight labor market, said Ahu Yildirmaz, co-head of ADP Research Institute. The number of job openings exceeded the number of unemployed Americans by the largest margin on record in April.

  • “Let’s remember you need approximately 100,000 net new jobs to keep the economy moving. We’re still above that level, however there are so many other factors,” she said.
  • “If you look at the last couple months, the jobs numbers were really, really volatile.”

The bottom line: Another blowout print like January’s, which showed 312,000 jobs added, will calm a lot of jitters.

Keep in mind that there is more to an economy than just the markets……but the MSM wants every American to believe all is good as long as the profits are being made by corporations…..not necessarily so.

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Closing Thought–06Nov17

Trump takes to Twitter to condemn Clinton, rag on Sessions, bitch about Comey, rail on about Mueller and pick in”Rocket Man…..in other words he belittles anyone that will not kiss his ass….instead he should be chest thumping about the economy and especially the unemployment rate that has come down under his regime….

US employers added a robust 261,000 jobs in October as the economy recovered from hurricanes that slammed the Southeast in September, per the AP. The Labor Department says the unemployment rate declined to 4.1%, the lowest in nearly 17 years, from 4.2% in September. The burst of hiring (though it was actually below estimates of 325,000, per the Wall Street Journal) mostly reflects a rebound from a trio of hurricanes that temporarily depressed job gains. But it also shows that for all their fury, the storms did not knock the economy off course.

“Now that the storms have passed, the focus can return to the central question for the United States job market: With unemployment low, when will wage growth accelerate?” writes Ben Casselman at the New York Times. Average hourly earnings continue to rise at about 2.5% year-over-year, below the annual rate economists would predict when unemployment is this low. Over the past three months, hiring has averaged 162,000. That is similar to the pace of hiring before the hurricanes. Employers added just 18,000 jobs in September, as thousands of businesses were forced to close. That figure was revised higher from a previous estimate that showed a loss of 33,000.

This is great news for the economy that he, Trump, could take credit for doing but instead he takes to Twitter like the spoiled brat that he is and just shows his stupidity with every new Tweet.

It is tiring writing about the idiot that we put in the White House…if he only had a brain.

That is it for me for today….TTFN….chuq

What Is Insanity? Mississippi Edition

Since the 1980’s, probably longer, Mississippians have been promised two things with every election…..lower taxes and a focus on education…it has been so thru the 90’s……..the 2000’s and on until the 2010’s…..and the last election every candidate promised the same tired old rhetoric from the election that preceded it….taxes and education….(redundant for make a point)

They say the definition of insanity is doing the same thing over and over and expecting a different outcome…….the voters of Mississippi have been doing the same thing over and over….and still have not found what they are looking for…….workers are paid some of the lowest wages in the US…..poverty is rampant……health is atrocious………education sucks…….but taxes are lower….well at least for corporations….the average Mississippian is being taxed unchanged for decades……

So is it insanity to keep buying into the BS of the election process…..knowing that NONE of it will come true?

You bet your butt it is!  Some say that Mississippians are optimistic about their candidates….but let us look at the 2010 election….the governor and state reps almost to a person talked about jobs and education…..promising better of both if they were elected and they would work tirelessly to achieve these goals…….How did they do?

These are the bills passed by the state legislature and sent to the governor to sign…….

n COAST INSURANCE: A bill authored by Rep. Scott DeLano, R-Biloxi, requires insurance companies writing policies in South Mississippi to offer defined “actuarially sound” discounts to homeowners who fortify their homes against storm damage. The Department of Insurance will adopt a set of standards, and insurance companies must file a list of discounts by 2013, although some are expected to do so sooner.

n BP MONEY: A bill passed that would direct any settlement for economic damages from the BP oil disaster to a fund controlled by the Legislature. The final bill was much changed from an original one that sought to capture potentially billions in Clean Water Act fines and other money the company will have to pay.

n SCHOOL START: A bill authored by Rep. Mark Formby, R-Picayune, and pushed for years by Coast business leaders, states schools cannot start before the third week in August. Tourism officials estimate extending the summer will bring an extra $100 million in tourism spending statewide.

n POOL SAFETY: The governor has signed The William Lee Montjoy Pool Safety Act, authored by Rep. David Baria, D-Bay St. Louis. It requires safety gates and latches and enclosures for public and quasi-public pools. There is a grandfather provision for existing pools, but some measures apply to all pools, including existing ones. The bill is named for a Coast toddler who drowned.

n MARRIAGE: A measure pushed for years by Natchez and Coast lawmakers does away with the three-day wait and blood test for a marriage license, a move supporters say will help the state become a wedding tourism destination.

n GAUTIER TAX: Gautier voters will decide whether to enact a 1-percent tax on restaurants and hotels to fund parks and recreation projects, tourism and economic development. Local leaders will set the election date. At least 60 percent of voters must approve it.

n ABORTION: A bill signed into law by Gov. Phil Bryant requires doctors who work at abortion clinics to have admitting privileges to a local hospital and be certified OB/GYNs. Could close the state’s only abortion clinic.

n REDISTRICTING: New maps were drawn that favor Republicans. They could cause some Democratic incumbents to face each other for seats.

n CHILD PROTECTION: Bill creates new requirements for reporting on suspected sexual abuse of children. Also requires fetal tissue to be saved as potential DNA evidence of statutory rape when girl seeking abortion is 14 or under.

n WORKERS’ COMPENSATION: Makes changes to the state’s workers’ compensation system. Proponents say changes would make the system more fair to employers. Opponents say the changes would make it difficult for people hurt on the job to receive compensation.

n ATTORNEY GENERAL: Attorney general’s power would be limited by giving elected officials and state agency heads other options when they disagree with attorney general on legal issues.

Take a good look at what the legislature has done!  Now ask yourself just how serious were the officials that you elected about jobs and education……once you ask that….remember…..also the economic outlook for the state this year is 1.1%, 45th in the nation and yet with that dismal forecast they spend all their time on abortions, sharia law, everything but jobs and job creation….and these are the little asshats that YOU elected……it is insane to keep electing these people!
The definition of insanity is doing the same thing over and over and expecting a different outcome!
By that definition the majority of voters in the state of Mississippi…..are INSANE!

Give Us A Break!

We hear over and over how Obama and his policies have killed economic activity and jobs…..or that tax cuts will produce more employment…..or that the….well you get the idea….it is all so much crap!

Why would I say such a thing?

One of the shining lights, according to some, is Caterpilla…the heavy duty machine manufacturer….but look at this…

Seeking to bolster one of its more profitable business areas, Caterpillar Inc. agreed to acquire MWM Holding GmbH, a German maker of power-generation equipment, from 3i Group PLC and related investment funds for 580 million euros ($810 million).

3i, a British private-equity firm, bought the Mannheim, Germany-based company in 2007 for 360 million euros. The planned purchase is another move by Caterpillar to expand businesses outside its core areas of construction and mining …

Or maybe this….

Construction-equipment maker Caterpillar  said Tuesday it will buy locomotive maker Electro-Motive Diesel for $820 million from a private-equity firm.EMD is one of the world’s oldest and best-known makers of locomotives, producing its first engine in 1922.  The brand will remain unchanged as EMD’s brand is well-known in the rail industry.

So Caterpilla is spending about $1.5 billion on acquisitions….this will NOT create jobs…if anything some jobs will be lost because of the purchases…..none of this is to help put people back to work…..it is about the bottom line…the profits and the stock prices……business has NO desire to hire more people now and in the near future…it is more profitable the way it is today…..

So, give us a break!  Stop harping on the extension of benefits for corporations…they have NO intention of hiring more people…..nice try though….but I am not that stupid as to believe the hype!

Are You Economically Confused?

Daily Agitator

If you do not have a degree in economics or finance and try to listen to the “experts” on TV then you are so confused that you would agree to anything just to get these people to shut the hell up……

For instance, the US gain 290,000 jobs in April but yet the unemployment rate went from 9.7% to 9.9%….if you gain jobs how does the unemployment rate get larger?  Easy if you listen to the “experts”……it seems that more people went back to looking for work because the jobs market is looking better……that is the official announcement……but if the people were unemployed in April and are looking for work then they are still unemployed…so how does the rate expand?  It is all in the metrics of the science…that would be the science of bullsh*t…….all reporting is that the “real” unemployment rate is more like 15+%….but yet they have come up with a way for the dismal unemployment rate to appear more optimistic……it is all for the investor to get them excited about using their cash……never is it about the true outlook of the recession….

If you feel totally confused, then you are what I call an average person and NONE of the economic reports are for you….NONE of the economic reports take your life into account……..remember….YOU ARE the back bone of this economy and if your life is in recession then the rest of the country is in recession…..the investors and speculators will ALWAYS make their money, whether you are employed or not…

The problem is that they are gambling with YOUR money…the cash of the taxpayers is used in this casino called Wall Street….

Sign Of The Times

The number of young people considering a military career has significantly increased for the first time in about five years, buoyed by more positive news out of Iraq.

Military officials predict interest will rise even further because of the worsening economy.

The percentage of young people who said they would probably join the military increased from 9% to 11% in the first half of this year, according to a Pentagon-sponsored survey. The poll questioned 3,304 young people ages 16 to 21.

“We have … a lot more people coming to us now,” said Sgt. 1st Class Chad Benes, a recruiter at the Mount Clemens, Mich., recruiting station.

When economic times are tough the military gets the benefits……I think Obama wanted to strengthen the military, then he will get his wish.  Keep in mind. “an used weapon is a useless weapon” to quote some general from days past.

Jobs Lost Hit 14 Year High

A total of 240,000 jobs were lost last month on a net basis, significantly more than had been anticipated, again pointing to a prolonged and severe downturn. “We’re heading for a deep recession,” Nariman Behravesh, chief economist at IHS Global Insight, told Bloomberg News. “Banish the word mild from your vocabulary. It’s big, it’s bad, and it’s broad-based.”

The Labor Department revised its jobless figures for September, from the initially reported 159,000 net job losses to 284,000. Total employment has declined by 1.2 million in the first 10 months of 2008, with more than half of this fall recorded in the last three months. Economists estimate that the economy must generate an additional 100,000 jobs each month just to keep up with population growth.

Jobs were shed across a number of sectors:

• Manufacturing employment declined by 90,000 in October, including employment in fabricated metal parts (11,000 jobs lost), furniture and related products (10,000) and motor vehicles and parts (9,000).

• Construction employment fell by 49,000. The Labor Department noted that since peak activity in September 2006, construction employment has fallen by 663,000.

• The employment services industry lost 51,000 jobs.

• Retail trade employment declined by 38,000, with auto dealerships (20,000 jobs lost) and department stores (18,000) the worst affected.

• Financial sector employment fell by 24,000 and is down by 200,000 jobs since its peak in December 2006.

The rising unemployment rate is having a devastating social impact. According to the New York Times, only 32 percent of the officially unemployed are drawing state benefit checks because of onerous eligibility restrictions and other conditions designed to drive people off the books.

Moreover, the real jobless rate is far higher than the official 6.5 percent figure. The Labor Department’s monthly report acknowledged that the number of “involuntary part-time workers”—that is, those who are unable to find full-time work, or those whose hours have been cut back to part-time levels—increased in October by 645,000 to 6.7 million.

Also not counted as unemployed are those “marginally attached to the workforce”—i.e., those who wanted and were available for work and had looked for a job in the last year, but not in the four weeks preceding the survey. A total of 1.6 million people were in this category in October. Among the marginally attached were 484,000 “discouraged workers” who have stopped actively looking for employment. Other marginally attached workers include those who were unable to look for work in the preceding four weeks due to school attendance or family responsibilities.

When the involuntary part-time and marginally attached workers are counted, the unemployment rate stands at 11.8 percent, up from 11 percent in September and from 8.4 percent a year earlier.

Commenting on the Labor Department data, the Wall Street Journal’s Sudeep Reddy and Justin Lahart noted, “One of the more worrisome aspects of today’s report: signs that the labor market was declining substantially even before the worst of the credit crisis hit… If conditions were that bad before October, they’re likely to be far worse in the months to come as companies adjust to the new credit environment and consumers retrench with added pressure on housing and credit markets.”

Random Thoughts

These are notes that I have made and they did not make it to a post. Just thought I would share them with my reader for discussion.

1–Do Americans want change? I say no–why? They are afraid of change. In the last 40 yrs or so they have had ample chances for change but everything has stayed the same—the same system, the same types of politicians, the sam economic crises over and over…all has remained the same. There has been several opportunities but safe was always chosen. This election past is more of the same–change in name, but the tune stays the same.

2–On the day of the election, 04 Nov 08, at 0700 hrs the media was still downplaying Obama’s strength in the polls. They even went so far as to say the Ayers was voting at the same place as Obama.

3–PORK? Why is everything but military spending called pork?

4–At 0225 hrs on 05 Nov 08 the Repub mouth-pieces were already throwing Palin under the speeding bus. So much for loyalty.

5–The Repub talkking heads are still hateful. They are concerned with the option of one party rule over Congress and the POTUS. Silly! Southern Dems are more conserv than most Repubs, I do not think there should be any concern.

6–Voting–about 133 million people went to the polls and that translate into 62.5% of the population whiuch is a higher percentage than in past elections. Well done Americans!

7–What does Fiscal Responsibility mean?

8–Jobless rate the highest in 25 years–over 6% and about 1.2 million jobs lost this year alone.