Political Economy category archive
Nothing To Do, Nowhere To Go 0
Still nicely under 300k.
(snip)
The four-week average of jobless claims, a less-volatile measure than the weekly figure, rose to 258,000 from 256,000 in the prior week. Filings have been below 300,000 for 61 weeks — the longest stretch since 1973 and a level economists say is consistent with a healthy labor market.
The number of people continuing to receive jobless benefits fell by 8,000 to 2.12 million in the week ended April 23, the lowest level since November 2000.
“The Dismal Science” 0
Harry Shearer interviews economist James Galbraith. Follow the link to listen; you’ll be smarter for it (the interview starts at about the 14 minute mark).
Nothing To Do, Nowhere To Go 0
Still not bad.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, decreased to 256,000, the lowest since December 1973, from 260,750.
The number of people continuing to receive jobless benefits fell by 5,000 to 2.13 million in the week ended April 16, the fewest since November 2000. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The Rights Balance 0
In NRA Paradise, the “rights” of ammosexuals to play with their ammosexual appendages trump all other rights, but there are worms–nay, wormwood–in the NRA apple. Bruce Greenspun writes eloquently at the Las Vegas Sun. A snippet.
But none of those, I submit, is as precious as the right of a young child to be able to grow up free from the constant fear of being shot to death on the schoolyard, in the classroom, in a movie theater, in a church parking lot or anywhere else that has long been a violence-free zone in America. Until recently.
I am certain I am not the only grandfather or father who fears the phone call that says the school where a grandchild or child attends is on lockdown because some crazy person with an assault rifle or machine gun or whatever else he could get his hands on is shooting up the place.
Just read it.
Nothing To Do, Nowhere To Go 0
Still not bad.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, decreased to 260,500 from 265,000.
The number of people continuing to receive jobless benefits fell by 39,000 to 2.14 million in the week ended April 9, the fewest since November 2000. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The story says this is the best report since 1973, the year I entered the workforce.
Deduct This! 0
Warning: Taste (Very Little)
Moved below the fold because it autoplays on some systems.
(Parenthetical Remark: Autoplaying is evil. It is more evil than HTML email.
I am looking for a pattern, but have not found it. I can’t blame it on Windows, as it occurs on Linux also. These pestilences autoplay on some Linux distros and not on others, in some browsers and not in others, and I have not isolated a pattern.
Eventually, though, I shall track down the trouble and I shall shoot it. Troubleshooting is what I do.
By the by, if you catch something autoplaying, email me from the link over there on the sidebar
————>
and I shall push it below the fold.)
Solidarity Reimagined 0
One day those who have been seduced by the snaring economy will realize that they have been duped.
While they work for pittances, Silicon Valley reaps the premium and sucks them dry. It’s bubblelicious.
I carried a union card for 24 years.
Shortly after I started at my first employer, my job became a union job and my pay went up because I was no longer without protection. (I won’t go into the technical details of why this happened–it had to do with “deferred agreements” and stuff like that there).
When I got promoted into a non-union job, I continued to pay my union dues and maintained my seniority as a fall-back. When the time came that I needed a fall-back (my whole office and all the persons in it in Wilmington, Delaware, got offed), it turned out that I didn’t need to exercise my seniority rights, as I fell back into another industry. Nevertheless, those rights were there and I could have used them to put bread on the table had the other opportunity not come along all on its ownsome.
I never had to avail myself directly of the union’s services, because the union had already fought to protect me; I benefited from the sacrifices of persons who were willing to die for workers’ rights. I appreciated those protections, and, the more I learned about labor law, the more I appreciated them. I appreciate them still.
The union made my life better.
“Right to work” laws are in truth “right not to get paid fairly” laws and are one of the most successful cons in American political and labor history.
Image via Juanita Jean.
Afterthought:
In the phrase, “everyone is an entrepreneur,” methinks “entrepreneur” is “exploited” misplet.
Nothing To Do, Nowhere To Go 0
Still under 300k.
(snip)
The four-week moving average, a less volatile measure than the weekly claims numbers, decreased to 265,000 last week from 266,500.
The number of people continuing to receive jobless benefits fell by 18,000 to 2.17 million in the week ended April 2, the lowest since the period ended Oct. 17. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The four-week average of continuing claims dropped to 2.18 million, the lowest since November 2000.
Nothing To Do, Nowhere To Go 0
Not much change, but still under 300k.
(snip)
Economists’ estimates in the Bloomberg survey ranged from 261,000 to 290,000. Applications in the prior week were unrevised at 276,000.
The four-week average, a less volatile measure than the weekly claims numbers, increased to 266,750 last week from 263,250.
Society Is Social 1
In the Minneapolis Star-Tribune, Bruce Peterson, taking issue with a previous column (linked in his article), explains that a civilized society is, indeed, social.
No summary or excerpt can do his article justice. Just read it.
Economics of Fail 0
At The Roanoke Times, John Winfrey, Emeritus {rofessor of Economics and Public Policy, dissects Tea Bag economic mythology reasoning and exposes its internal contradictions. A snippet:
Unfortunately the Tea Party Ideologues seem oblivious that every Eco 101 text also has a Chapter Two.
Nothing To Do, Nowhere To Go 0
For all practical purposes, status quo ante.
(snip)
Jobless claims have been below 300,000, a level economists associate with a healthy labor market, for 56 consecutive weeks. That’s the longest since 1973. . . .
The four-week moving average of claims, a less volatile measure than the weekly figures, increased to 263,250 from 259,750.
The number of people continuing to receive jobless benefits fell 7,000 in the week ended March 19 to 2.17 million, the lowest level since mid-October.
Nothing To Do, Nowhere To Go 0
Still not bad; it would be better if the jobs were better jobs (emphasis added):
(snip)
Initial filings have been below 300,000 for 55 weeks, the longest stretch since 1973 and a level economists say is consistent with a healthy labor market.
The four-week average of claims, a less-volatile measure than the weekly figure, was little changed at 259,750 compared with 259,500 in the prior week. . . .
The number of people continuing to receive jobless benefits declined by 39,000 to 2.18 million in the week ended March 12. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
English is a language of word order. The order of words matters.
Bloomberg’s headline emphasizes that the rise was less than forecast. Why does it not say that their forecasts were higher than the reality?
Nothing To Do, Nowhere To Go 0
Still under 300k, still not terrible.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, rose to 268,000 from 267,250. . . .
The number of people continuing to receive jobless benefits rose by 8,000 to 2.24 million in the week ended March 5.
Bloomberg’s headline asserts that Jobless Claims in U.S. Climbed Less Than Forecast Last Week. A more accurate rendition would be Jobless Claims in U.S. Climbed Less Than Bloomberg Forecast Last Week.
In reference to Bloomberg’s forecasts of the unemployment rate, if Bloomberg tells you to bet on Teabiscuit in the ninth at Belmont, don’t be surprised if Teabiscuit comes in seventh in a field of five.
Babbling Brooks 0
At MarketWatch, Darrell Delamaide skewers David Brooks’s fantastickal ramblings about the American Dream.
It defies excerpt or summary. Just read it.
Nothing To Do, Nowhere To Go 0
Still not terrible.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, declined to 267,500 from 270,000 in the prior week.
The number of people continuing to receive jobless benefits dropped by 32,000 to 2.23 million in the week ended Feb. 27.