A Reader Reports From The Jobs Front
Mr. Roberts, Thank you for your work. I suppose I’m one of the “jobs added.” $9 an hour, 40 hrs./wk., security work. No insurance provided. Last year I made well over 3 times that in manufacturing. Most all my friends laid off, our unemployment benefits now expired. Keep up your great work. —Steven, Texas
The post A Reader Reports From The Jobs Front appeared first on PaulCraigRoberts.org.
And you thought Greece was "fixed"...
The last 3 days have seen Greek bank stocks cut in half...
Which has slammed Greek stocks to their lowest since December 1989...breaking below Draghi's "Whatever it takes" lows...
And Greek bond yields are back above 10% - the highest since last year's crisis...
No it is not, a slowing economy crippled by 346% in debt/GDP; it's not the artificially high exchange rate (which was pegged to a dollar when it was plunging during QE1-3 and is now soaring) yet which China can't aggressively lower either as that would mean a disorderly flight of capital from the mainland; it's not the feedback loop of plunging commodity prices and highly levered domestic corporation which can not pay their annual interest expense payments; it's not the recently burst housing bubble; nor is it the burst stock market bubble which recently popped, or the bond bubble which is
Submitted by Jed Graham via Investors.com,
Hiring at restaurants, hotels and other leisure and hospitality sector venues slowed markedly last year in metro areas that saw big minimum-wage hikes, new Labor Department data show.
Wherever cities implemented big minimum-wage hikes to $10 an hour or more last year, the latest data through December show that job creation downshifted to the slowest pace in at least five years.
Submitted by Jeffrey Snider via Alhambra Investment Partners,