Posts Tagged ‘jobs

27
Aug
15

The Economy Is Growing. Don’t Screw It Up, Congress

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Jason Furman: Second Estimate Of GDP For The Second Quarter Of 2015

Real GDP growth in the second quarter was revised markedly upward, as consumers spent more and businesses invested more than previously estimated. The economy grew at a much faster pace in the second quarter than in the first, with strong personal consumption leading the rebound. At this time in the global economy, it is essential that we continue to do everything we can to maintain America’s domestic economic momentum—including avoiding a return to fiscal brinksmanship or unnecessary austerity by passing an on-time budget that reverses the sequester, increasing investments in infrastructure as part of a long-term transportation reauthorization, and other steps to foster long-term growth.

1. Real Gross Domestic Product (GDP) rose 3.7 percent at an annual rate in the second quarter according to the BEA’s latest estimate, well above the first quarter’s 0.6 percent pace and the BEA’s initial second-quarter estimate of 2.3 percent growth. In the second quarter, the increase in GDP growth was led by a faster pace of personal consumption growth than in the first quarter and a shift from negative to positive net export growth. Structures investment, which declined sharply in the first quarter and was previously thought to have declined in the second, is now estimated to have grown. Overall, real GDP has now risen 2.7 percent over the past four quarters.

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19
Aug
15

A Huge Surge In Full Time Jobs. Thanks, President Obama

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Victoria Stilwell: Full-Time Jobs In The U.S. Just Made A Comeback

Friday’s labor-market report showed that the number of full-time U.S. jobs as a share of total employment rose to 81.7 percent, the highest level since November 2008. For those worried (including not a few presidential candidates) that this economic recovery has been one that’s created only low-quality jobs, this should be really good news.

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At the same time, the number of employees on the payrolls of temporary work services also fell, declining 8,900, the report showed. All of these statistics combine to paint a picture of a “shift to full-time work,” economists led by Derek Holt at Scotiabank in Toronto wrote in a note to clients.
The rest of the details of the jobs report were also solid. Overall, payrolls climbed by 215,000 in July and the unemployment rate held at a seven-year low of 5.3 percent.

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18
Aug
15

Tweets Of The Day

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CNN. Your trusted source in racist news

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There is no liberal America for African Americans

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07
Aug
15

65 Consecutive Months Of Job Growth. Thanks, President Obama

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25
Jul
15

The President’s Saturday In Kenya

President Barack Obama smiles as he arrives to deliver a speech at the Global Entrepreneurship Summit at the United Nations Compound, Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama smiles as he arrives to deliver a speech at the Global Entrepreneurship Summit at the United Nations Compound in Nairobi. President Obama’s visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation

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President Barack Obama delivers a speech at the Global Entrepreneurship Summit at the United Nations Compound, Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

U.S. President Barack Obama (L) and Kenya's President Uhuru Kenyatta (R) take part in a roundtable with young businesspeople at the Global Entrepreneurship Summit at the United Nations compound in Nairobi, Kenya July 25, 2015. Obama told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to help by ensuring the rule of law was upheld and by tackling corruption. REUTERS/Jonathan Ernst

President Barack Obama and Kenya’s President Uhuru Kenyatta take part in a roundtable with young businesspeople at the Global Entrepreneurship Summit

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U.S. President Barack Obama delivers remarks at the Global Entrepreneurship Summit at the United Nations compound in Nairobi, Kenya July 25, 2015. Obama told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to help by ensuring the rule of law was upheld and by tackling corruption. REUTERS/Jonathan Ernst

President Barack Obama delivers remarks at the Global Entrepreneurship Summit. He told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to help by ensuring the rule of law was upheld and by tackling corruption

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President Barack Obama, left, takes part in a panel discussion at the Global Entrepreneurship Summit at the United Nations Compound. Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama pauses before delivering a speech at the Global Entrepreneurship Summit at the United Nations Compound, Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

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U.S. President Barack Obama (L) and Kenya's President Uhuru Kenyatta (R) depart the stage after speaking at the Global Entrepreneurship Summit at the United Nations compound in Nairobi July 25, 2015. Obama told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to help by ensuring the rule of law was upheld and by tackling corruption. REUTERS/Jonathan Ernst

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President Barack Obama looks at a mobile payment platform and solar exhibit during the Power Africa Innovation Fair, Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama looks at a mobile payment platform and solar exhibit during the Power Africa Innovation Fair

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President Barack Obama, left, looks at a solar powered lamp during a tour of the Power Africa Innovation Fair, Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama, left, looks at a solar powered lamp during a tour of the Power Africa Innovation Fair

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President Barack Obama participates in a wreath laying ceremony, Saturday, July 25, 2015, in Nairobi, at Memorial Park in honor of the victims of the deadly 1998 bombing at the U.S. Embassy.  Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama participates in a wreath laying ceremony in Nairobi, at Memorial Park in honor of the victims of the deadly 1998 bombing at the U.S. Embassy

President Barack Obama reflects as he participates in a wreath laying ceremony, Saturday, July 25, 2015, in Nairobi, at Memorial Park in honor of the victims of the deadly 1998 bombing at the U.S. Embassy.  Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama inspects the honor guard after arriving to meet with Kenya's President Uhuru Kenyatta at State House in Nairobi, Kenya Saturday, July 25, 2015.  Obama heralded Africa as a continent "on the move" while visiting Kenya Saturday, the East African nation where he has deep family ties.(AP Photo/Ben Curtis)

President Barack Obama inspects the honor guard after arriving to meet with Kenya’s President Uhuru Kenyatta at the State House

REFILE - REMOVING EXTRA WORDS U.S. President Barack Obama (L) takes part in a reception ceremony next to Kenya's President Uhuru Kenyatta (R) as he visits the State House in Kenya's capital Nairobi, July 25, 2015. Obama told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to assist by ensuring the rule of law was upheld and by tackling corruption.  REUTERS/Thomas Mukoya

U.S. President Barack Obama (L) shake hands with Kenya's Chief of Defence Forces Samson Mwathathe (R), next to Kenya's President Uhuru Kenyatta (2nd R), as he arrives to visit at the State House in Kenya's capital Nairobi, July 25, 2015. REUTERS/Thomas Mukoya

President Barack Obama shake hands with Kenya’s Chief of Defence Forces Samson Mwathathe

U.S. President Barack Obama inspects the honor guard after arriving to meet with Kenya's President Uhuru Kenyatta at State House in Nairobi, Kenya, Saturday, July 25, 2015. U.S. President Obama heralded Africa as a continent "on the move", as he visits Kenya  Saturday, the East African nation where he has deep family ties. (AP Photo/Ben Curtis)

U.S. President Barack Obama is greeted by Kenya's President Uhuru Kenyatta, right, on his arrival at State House in Nairobi, Kenya, Saturday, July 25, 2015. U.S. President Obama heralded Africa as a continent "on the move", as he visits Kenya  Saturday, the East African nation where he has deep family ties.(AP Photo/Ben Curtis)

U.S. President Barack Obama (L) meets Kenya's President Uhuru Kenyatta (R) as he arrives for a visit at the State House in Kenya's capital Nairobi, July 25, 2015. REUTERS/Thomas Mukoya

U.S. President Barack Obama, left, stands next to Kenya's President Uhuru Kenyatta, 2nd left, as the Kenya Air Force military band passes by, at State House in Nairobi, Kenya Saturday, July 25, 2015.  Obama heralded Africa as a continent "on the move" while visiting Kenya Saturday, the East African nation where he has deep family ties. (AP Photo/Ben Curtis)

U.S. President Barack Obama reviews a Kenya Defence Forces honour guard during a visit to the State House in Kenya's capital Nairobi, July 25, 2015. Obama told African entrepreneurs in Kenya on Saturday they could help counter violent ideologies and drive growth in Africa, and said governments had to assist by ensuring the rule of law was upheld and by tackling corruption. REUTERS/Thomas Mukoya

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President Barack Obama is escorted into a bilateral meeting by Kenyan President Uhuru Kenyatta at the State House, on Saturday, July 25, 2015, in Nairobi. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

President Barack Obama is escorted into a bilateral meeting by Kenyan President Uhuru Kenyatta at the State House

President Barack Obama arrives for a bilateral meeting with Kenyan President Uhuru Kenyatta at State House, on Saturday, July 25, 2015, in Nairobi, Kenya. Obama's visit to Kenya is focused on trade and economic issues, as well as security and counterterrorism cooperation.  (AP Photo/Evan Vucci)

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President Barack Obama and President Uhuru Kenyatta participate in a joint press conference

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U.S. President Barack Obama answers questions from the media, after meeting with Kenya's President Uhuru Kenyatta, at State House in Nairobi, Kenya Saturday, July 25, 2015.  Obama heralded Africa as a continent "on the move", as he visits Kenya  Saturday, the East African nation where he has deep family ties. (AP Photo/Ben Curtis)

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U.S. President Barack Obama makes a joke while answering a question from the media about the dinner he had with his Kenyan relatives, after meeting with Kenya's President Uhuru Kenyatta, at State House in Nairobi, Kenya Saturday, July 25, 2015. Obama heralded Africa as a continent "on the move", as he visits Kenya  Saturday, the East African nation where he has deep family ties. (AP Photo/Ben Curtis)

19
Jul
15

A Well Earned Thank You

Obama CIC

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Dick Meyer: Mr. President, On Behalf Of An Ungrateful Nation, Thank You

I’ve never written a column like this. Readers rarely believe it, but I am not on any political team. Generosity toward the high and mighty isn’t among my few virtues. But this needs to be said: Americans are lucky to have Barack Obama as president and we should wake up and appreciate it while we can. President Obama will go down in history as an extraordinary president, probably a great one. He will have done this in era that doesn’t aggrandize leaders and presidents, but shrinks them. All presidents have had profound opposition, vicious enemies and colossal failures. A few were beloved and others deeply respected in their day, but none in the modern era and certainly not Obama.

Obama This Guy

One can hate Democrats, disagree with Obama on big issues, dislike his style or be disappointed the excitement of his election didn’t last. But his accomplishments, ambitious goals, dignity and honesty under tough circumstances demand admiration and appreciation. 1. The Iran deal: Time will reveal if the deal worked, not today’s talking/tweeting heads. What cannot be in dispute is this was a momentous initiative, a gutsy political risk, a diplomatic success and, potentially, a giant step in defusing a long-ticking time bomb. 2. Obamacare: In the midst of the worst economy since the Great Depression, Obama delivered one of the most important domestic programs since the New Deal. Only LBJ’s Great Society laws compare. Obamacare has survived two challenges in the Supreme Court and constant, kabuki-style congressional votes to repeal. It’s now off life support. Key goals are being met. It will evolve and improve. One day it will be taken for granted and people will say, “Keep the government out of my Obamacare.”

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07
Jul
15

The Obama Economy: Labor Market Recovery Is The Best In 25 Years

Obama Mount Rushmore

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Hale Stewart: The Recovery In The Labor Market Is The Best In 25 Years

Every month we read stories about what a poor labor market recovery this has been. The latest articles were from Profs. Brad DeLong and Menzie Chinn. I respectfully disagree. With few exceptions, people don’t get a job for social reasons. They go to work each day in order to earn money to purchase necessities, discretionary goods, and to save for future needs. In short, they work because of cold, hard cash. Next, let’s compare two economies that both create 1 million 40 hour a week jobs, but one pays $10/hour and the other pays $12/hour. Clearly the second economy is better. It is paying workers 20% more than the first.

Finally, let’s compare two economies that create 1 million 40 hour a week jobs at $10/hour. In the first economy, there are 3% annual raises, but inflation is rising 4%. In the second, there are 2% annual raises, but inflation is rising 1%. Again, even though the second economy is giving less raises, it is the better one — those workers are seeing their lot improve in real, inflation-adjusted terms, whereas the workers in the first economy are actually losing ground. In other words, the best measure of a labor market recovery is that economy which doles out the biggest increase in real aggregate wages. The bottom line is that, measured 5 years and 11 months out from the bottom, this labor market recovery has been the third best of the 7 expansions, behind the 1960s and 1980s

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05
Jul
15

Some News We Missed

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Get yourself together, Twitter and accompanying social media platforms

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Continue reading ‘Some News We Missed’




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