When it comes to concerns about their professional future, few things faze Wall Streeters: mass layoffs - no big deal, someone else will hire; empty steakhouses - that's ok, Hustler Club is packed (and expense accounts are accepted just fine). But lower compensation and all hell breaks loose.
Submitted by Jack Salmon via The Foundation for Economic Education,
A new report from JP Morgan Chase & Co. finds that the summer employment rate for teenagers is nearing a record low at 34 percent. The report surveyed 15 US cities and found that despite an increase in summer positions available over a two year period, only 38 percent of teens and young adults found summer jobs.
Another Phony Jobs Report
And if true it is damning
The monthly payroll jobs reports have become a bad joke.
No growth in real retail sales, but 55,000 retail trade new jobs in February.
No growth in real consumer income, but 40,000 more waitresses and bartenders.
86,000 new jobs in Education, health services, and social assistance. February is a strange
month to be hiring new teachers. If February brought a quarter million new jobs, how come a
big hike in social assistance jobs?
Manufacturing lost 16,000 jobs.
For years, we noted that despite Goldman suffering progressively declining revenue...
... and occasional downward fluctuations in its bonus pool. one of its key "charms" for employees was that ever since the financial crisis, its total number of employees never declined. That is no longer the case.
By EconMatters
Sparks flew in the middle of the day, but when all was said and done we finished relatively flat for the day in the oil market. The week closes out Friday with the Employment Report.
https://www.youtube.com/watch?v=AbSYxXOO8qc
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