When the Fed released last month's Beige Book, as part of the explanation why employers are having an increasingly more difficult time finding jobs, it presented the following disturbing anecdote from a Boston Fed respondent:
Employment, new orders, and production all slowed notably in May according to the MNI Chicago PMI report. Printing at 55.2 - below the lowest expectation - this is the lowest level since January's collapse.
Forecast range 56 - 62 from 34 economists surveyed... oops!
Breakdown:
Authored by Ilya Levtov via Priceonomics.com,
For many companies, the biggest cost is talent. This is especially true of Silicon Valley, where companies sell clicks and digital goods that do not have any material cost. So which companies' workforces are able to generate the most revenue?
America’s Best Economist Tells It Like It Is
The Middle Class Is Now The Company Store Class
Michael Hudson
Students usually don’t think of themselves as a class. They seem “pre-class,” because they have not yet entered the labor force. They can only hope to become part of the middle class after they graduate. And that means becoming a wage earner – what impolitely is called the working class.
Authored by Robert Fellner via The Mises Institute,
An influential left-wing think tank has called for the government to create millions of jobs for those without a college degree, leading to headlines like The Nation’s declaration that “It’s Time for the Government to Give Everyone a Job.”