Labor

David Cameron’s mother has lost her job as austerity measures imposed by the conservative government have forced a local authority to close the children’s center she worked at. The Berkshire children’s centre where the Prime Ministers’s 81-year-old mum volunteers is being shut down at the end of the month. Mary Cameron said she was “very sad” that the centre is closing. RT reports: “I am very sad that it is being closed down but if there’s not enough money to pay for it things have to go. I don’t really know what can be done really as I’ve just heard about it.

Submitted by Lance Roberts via RealInvestmentAdvice.com,

The Fed’s Got A Problem

The most recent employment report sent the financial market pundits abuzz claiming that the economy was on solid footing with no recession in sight. The problem, for anyone willing to actually look at the data, was the underlying data was mostly disappointing.

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.