The Sky is Falling, for real this time.


Today is my favorite time of the month. Today is August 7 and  it’s the day that the Bureau of Labor Statistics (BLS) puts out who got fired aka the employment situation, economic news release. This is where all of the media gets the numbers that they spin. Why don’t they just provide the numbers with no commentary? I guess that would be boring. Here is my entertaining spin on the pieces of clouds that are hitting me on the head.

Nonfarm payroll employment declined by 247,000 jobs (we needed 100,000 jobs a month to continue to employ the job market BEFORE La Crisis, so don’t let the corporate people lie to you and let you think everything is ok now since last month it was higher, it’s not ok, it’s nowhere near ok.)

“Another way of looking at the above task is to determine how long it will take the nation to return to full employment — basically an economy in which everyone who wants to work can find a full-time job to match their skill set and experience. It’s no minor task: the U.S. economy has to create about 200,000 jobs per month — a roughly net 100,000 job gain over the monthly gain needed to keep unemployment from rising — for the next 5.5 years to replace the roughly 6.8 million jobs lost during the recession.” Joseph Lazzaro, Daily Finance.

Also there are now 796,000 discouraged workers up by 335,000 over the past 12 months.

And there are now five million people who have been unemployed longterm (longterm is more than 27 weeks.)

On Chart A12 section U-6 Total unemployed, plus all marginally attached   workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.. is now 16.3%.

The Employment Situation for August is scheduled to be released on Friday,
September 4, 2009, at 8:30 a.m. (EDT).

Edited by Browne Molyneux

The Real Number of Unemployed Nationally: 16.5 %

I'm glad we agree, this is not a job. Pic by Steve Schwartz

I'm glad we agree, this is not a job. Pic by Steve Schwartz

Often when my friends and I talk about issues of unemployment a question comes up. How do we know if this number that we read in the paper is including everyone?

What about your friend who hasn’t had a job in two years and has just stopped looking?
What about people who work temp jobs, so they sort of have a job, but not really?
What about people who got a job at the mall during the SUPER SUMMER SALE, but then got let go?

I found a table to answer those questions.

There is a table in the Bureau of Labor and Statistics. It’s table A12. It is the Alternative Measures of Labor Underutilization.  (H/T to Jonathan Tasini of Working Life, I was actually going to work this number out the old fashioned way with pencil and paper, but you saved me time.) 

16.5% is the number of unemployed nationally if you take into the account all of things that we all wonder about in regards to true unemployment: Continue reading

La Crisis 2009. A look at 15 companies that you may know.

A look back at California's History.

A look back at California


Companies that might not survive, with fun commentary put in by me, so you won’t be bored.

Rite Aid. (Ticker symbol: RAD; about 100,000 employees; 1-year stock-price decline: 92%).
This is unfortunate. I will now have to walk all the way to the downtown Ralph’s to get the mind numbing kind of alcohol that makes your forget everything. They should have stayed Thrifty’s. I still call it Thrifty’s

Claire’s Stores. (Privately owned; about 18,000 employees.) On the rare occasions I do go to the mall, where will I get my cheap jewelry from? I need cheap jewelry and hair accessories made in a random third world country to go along with my  Hot Topic t-shirt of a band that started before I was alive. Who is this Pink Floyd? Who cares, they make a cute T-shirt. Continue reading

Regulate the Rich. Make them play nice.

  • Exxon Mobil makes $76,000 per minute.
  • Exxon Mobil paid on $5 bililion dollars in income taxes last year to the US government.
  • Exxon Mobil paid $25 billion dollars to foreign governments.
  • Exxon Mobil made $400 billion dollars last year.

Also take a look at this yesterdays FT(7/29) article pg 18 “Shells sets pace as big oil lifts R&D spend” in the Financial Times by Ed Crooks to see how they are apparently price fixing, which I deduced sense the oil companies are spending far less than they should on R&D. And the article pg 2 “US Treasury blames supply and demand for oil prices” by James Politi that shows how they even have the US Treasury Department in on this deadly game.

Facts from Conde Nast Portfolio, Crude Reporting by Howell Raines 08/08

Hey they pay less of a percentage of their income on taxes than I do? I’m a human being that works.

Exxon Mobile Oil formerly Standard Oil was started by the John Rockefeller and his descendants still sit on the board (puts it all in an interesting historical perspective).

Now Rockefellers is synonymous with arts and NY and some odd looking guy running for various offices and another one who was VP, but that was just a great PR campaign. Pretty easy for them, since they own pretty much own either indirectly or directly everything we read.

Continue reading