Wall Street does not want good and tight job market !!!
Higher normal fed rates did the country just fine since WWII. QE and zirp have done nothing but to inflat assets to save wall street and mortgage holders.
Yellen needs to find a way to help Main Street, communicate to the average rank and file, not those Masters who offshore jobs, cut jobs, exploit tax loopholes, max out H1-B, cut wages, sell bonds at 2% to pay dividends, sell bonds at 2% to buyback shares to boost stock prices, sells bonds for M&As to cut more jobs, ...
The kids made to our border towns are on their own.
No VA hospital administrators who mandated the two sets of appointment books has been fired.
American companies sending their profits overseas while demanding American privileges and corporations writing off layoff charges while shipping jobs offshore and rewarding their executives for downsizing America.
Never mind the rest of major problems facing American citizens -- more and better paying jobs, student loans, infrastructure funding, income inequality, ... , cyber security, medicare insolvency, social security reform ...
betty, The headline GDP is not nominal. And Q1 number was due to inventory draw down. Lastly, higher labor costs is good for main street, not in Wall Street.
And root cause was because obstructionists cut off funding on ACA planning and oversight efforts by the administration?
A tanker loaded with $40M of ultralight oil departed Texas for South Korea late last night, marking the first unrefined American oil export since the 1970s. Although the U.S. policy on oil exports has not changed, the Commerce Department last month began relaxing its definition of "unrefined oil". U.S. condensate supply is surging due to the shale oil boom and the industry is demanding permits and comprehensive public guidance with regard to what oil can or cannot be exported.
The July job-cut total was up 49 percent from June’s 31,434 job cuts, which was the fewest number of cuts announced, year to date. It was 24 percent higher than the 37,701 cuts recorded in July 2013. The only month to see more job cuts so far this year was May, when job cuts reached 52,961.
Employers have announced 292,921 job cuts, to date. That is 1.3 percent fewer than the 296,633 job cuts announced in the first seven months of 2013.
July job-cut news was dominated by Microsoft, which announced plans to reduce its workforce by as many as 18,000. That is the largest downsizing in the company’s history. It is also the largest layoff announcement this year, surpassing fellow tech giant Hewlett-Packard’s announced plans to shed as many as 16,000 workers from its payroll.
The combined cuts by H-P and Microsoft have helped make the computer industry the leading job-cut sector through July. Computer firms announced a total of 48,361 job cuts in the first seven months of 2014, 125 per
Q2 Employment Cost Index
Q2 Employment Cost Index: +0.7% Q/Q. vs. consensus of +0.5%, +0.3% prior.
Gallup U.S. Payroll to Population ratio inches higher
Gallup U.S. Payroll to Population ratio rises to 45.2 from 45.0 last month.
Jobless Claims +23K to 302K
Initial Jobless Claims: +23K to 302K vs. 305K consensus, 279K prior (revised from 284K).
Continuing claims +31K to 2.54M.
U.S. companies added just 218,000 new private jobs in July, says ADP.
This was a bit lighter than the 230,000 expected by economists.
This is down from the 281,000 added in June.
"The July employment gain was softer than June, but remains consistent with a steadily improving job market," said Moody's Analytics' Mark Zandi. "At the current pace of job growth unemployment will quickly decline. Layoffs are still receding and hiring and job openings are picking up. If current trends continue, the economy will return to full employment by late 2016.”
GDP grows 4% in Q2
GDP Q2: +4% vs. +3% expected, -2.1% previous (revised from -2.9%).
The drives. logical or mechanical, may fail but their data should be recoverable unless they were wiped clean or overwritten.
Also saw HP's 4G/500G cheap PC at $298 next to Lenovo's similar PC at $228 (Fry's ran Dell's similar basic PC last week at $228 as well). May be it is a end of life fire sale for Palm and hope so; end of an era when Palm was the best smart phone around until iPhone.
Yahoo removed my reply earlier, so tamer language this time.
One third of Americans would rather pay for a quarter pounder than a third pounder burger at the same price. Why, they asked the researchers, should they pay the same amount for a third of a pound of meat as they did for a quarter-pound of meat at McDonald’s. The “4” in “¼,” larger than the “3” in “⅓,” led them astray. --Elizabeth Green, NYT Magazine, on losing money by overestimating the American public's intelligence.
This morning's Fry's Ad showed HP selling this at $49.99 !!! About the same price as Blackberry w/o camera:
8 GB storage
Screen Size: 320 x 400 pixels, 2.63 inches
Wi-Fi/GPS/Bluetooth v2.1 with A2DP
Full QWERTY Keyboard
(Reuters) - Republicans in the U.S. House of Representatives on Thursday took another step toward authorizing a lawsuit against President Barack Obama, claiming he has overstepped his executive powers.
In a partisan vote of 7-4, the House Rules Committee approved the legislation, likely setting it up for consideration by the full House next week. The Republican initiative already has spawned a bitter debate with Democrats less than four months before elections that will determine the political control of Congress next year.
Any lawsuit likely would take years to wind through federal courts.
House Speaker John Boehner wrote in June that Obama's use of executive orders, including raising the minimum wage for federal contractors and stopping deportations of undocumented youths brought to the United States by their parents, risked giving him a "king-like authority."
Soon, we won't hear of big bankers causing the financial meltdown. They have lawyers pestering Google to take down those reports of liar loans and triple A subprime derivatives. Soon when you search for financial meltdown, instead of seeing TARP and Fed bailouts, returns would be how the wall street fat cats saved America despite of run away fed spending and national debt.
lang, Or contract the work to Michael Jackson's MD .. he was generous dispensing propofol with his clients
heinlein, Historic weekly first time claims seldom falls below 300K, Before the 2006 data, last seen in 1990's and a few times in 1980's ... The demographic shift is going to be brutal for hiring without immigrations. However, wages will not rise as expected in years past because of globalization and jobs moving to places with excess workers, from India to Africa.