Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Jobs

Shiller’s CAPE, Harvey, Irma, and now Jose: How Much More is Needed for a Stock Selloff?

This article was published by The McAlvany Intelligence Advisor on Friday, September 8, 2017:

English: (left) and meeting shortly after the ...

Republicans Smoot and Hawley

Wall Street prognosticators have watched Robert Shiller’s CAPE – “cyclically adjusted price-to-earnings” ratio – for years for signs that stocks are becoming overvalued. It’s now at a nosebleed level reached just before the October 1929 crash. The good news is that CAPE has been at that level ever since Shiller said that stocks were overvalued earlier this year. It is not a market timing tool, but more of an early warning indicator.

Short sellers have gotten smashed as the stock market continues to defy gravity. Bets against the SPDR S&P 500 exchange-traded fund, the largest ETF tracking that index, fell to lows in July not seen since May 2013.

But Hurricanes Harvey, Irma, and now possibly Jose may finally bring things back to earth. The jump in unemployment claims for the week ending September 2, caused by Harvey and reported by the Department of Labor (DOL) on Thursday, not surprisingly exceeded economists’ consensus. The increase of 62,000 for the week to

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Jump in Jobless Claims Following Harvey Is Just the Beginning

This article appeared online at TheNewAmerican.com on Thursday, September 7, 2017:

View of the eyewall of Hurricane Katrina taken...

View of the eyewall of Hurricane Katrina taken on August 28, 2005 as the storm made landfall on the United States Gulf Coast.

The jump in unemployment claims for the week ending September 2, as reported by the Department of Labor (DOL) on Thursday, not surprisingly exceeded economists’ consensus of just 241,000. The increase of 62,000 for the week to 298,000 nearly broke a claims record that has been in place for 131 weeks: 300,000.

That record will surely be broken in the weeks to come. The unemployment claims are just beginning to come in, and they are a predictor — a proxy — for job layoffs. Some workers

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August Jobs Report Shows Economy Humming Along Nicely

This article appeared online at TheNewAmerican.com on Saturday, September 2, 2017:

English: Bureau of Labor Statistics logo RGB c...

Bureau of Labor Statistics

Laura Rosner, senior economist at Macro Policy Perspectives (known for its ability to “understand how to read the tea leaves of economic and financial developments”), summed up August’s jobs report from the Bureau of Labor Statistics (BLS) on Friday: “The economy is doing well, but it’s not necessarily taking off. We’re on an even keel. The labor market continues to hum along.”

The growth in jobs was in all the right places, too,

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Trump Takes Credit for Banner Jobs Report

This article appeared online at TheNewAmerican.com on Friday, August 4, 2017:  

Within 15 minutes of Friday morning’s release of the July jobs numbers by the Bureau of Labor Statistics (BLS), President Trump tweeted: “Excellent Jobs Numbers just released — and I have just begun. Many job stifling regulations continue to fall. Movement back to USA!”

He has good reason to cheer:

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Warehouse Automation Causes Employment to Increase?

This article was published by The McAlvany Intelligence Advisor on Friday, August 4, 2017:

Image of Autonomous Robot From Second Grand Ch...

Image of Autonomous Robot From Second Grand Challenge Advancing to Urban Challenge.

The crux of the anti-capitalist cabal’s complaint about the robotic revolution taking place all across the country is this: since robots can do anything that a human can do, everyone’s job is on the chopping block. So how do they explain the simple bald fact that warehousing jobs – where much of the robotic revolution is taking place – have increased? A year ago there were 867,300 people employed in warehousing. Today that number is approaching 950,000. And Apple is looking to add thousands more. How is that possible?

Part of the answer of course is

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Robots Making Humans More Efficient, Opening Up New Jobs

This article appeared online at TheNewAmerican.com on Thursday, August 3, 2017:

Factory Automation with industrial robots for ...

Factory Automation with industrial robots for palletizing food products like bread and toast at a bakery in Germany,

SAM, the Semi-Automated Mason, can be seen on YouTube laying bricks alongside human masons. While SAM can, according to contractors, lay around 2,000 bricks a day compared to an average of 600 to 700 for a human mason, the video illustrates a key point missed by many: It shows human workers programmming SAM and providing it the bricks and mud and following behind cleaning up after it. In other words, SAM, produced by Construction Robotics, isn’t replacing masons, it is making them more efficient and saving their backs.

A year ago, Rick Cohen, the founder of Symbotic LLC, which develops autonomous robots for warehouses, said,

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At Least Papa John’s Pizza Arrives Fresh, Warm, and Tasty

This article was published by The McAlvany Intelligence Advisor on Wednesday, July 26, 2017:

Democrats are so upset over the Democrat Party’s new slogan that some demanded that its originator be fired immediately. The slogan, unveiled by Democrat Senate Minority Leader Charles Schumer in the New York Times on Monday, is: “A Better Deal: Better Jobs, Better Wages, Better Future.” This was birthed after months of intense mental analysis of last November’s loss to Donald Trump, and it was, according to many, stillborn. The Gateway Pundit massaged Papa John’s Pizza logo on its website, showing Nancy Pelosi beneath the banner, and below, instead of “Papa John’s” was “Dems: Still Pelosi.” It’s worth clicking on it. (See Sources below).

Other Democrats were less charitable.

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Democrats’ New Slogan Channels Papa John’s Pizza

This article appeared online at TheNewAmerican.com on Tuesday, July 24, 2017:

English: Charles Schumer, United States Senato...

Charles Schumer

The Democrat Party’s new slogan, rolled out on Monday by Senate Minority Leader Chuck Schumer (shown, D-N.Y.) in the New York Times, sounds an awful lot like the slogan of Papa John’s Pizza (“Better Ingredients, Better Pizza, Papa John’s.”) The new official slogan of the party, according to Schumer, is “A Better Deal: Better Jobs, Better Wages, Better Future.”

A closer look reveals old, tired, stale, and tasteless ideas of a party that not only has lost its way, but has lost a majority of Americans along the way. A recent Washington Post/ABC News poll revealed that

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Food Stamp Dependency Dropping

This article was published by The McAlvany Intelligence Advisor on Monday, July 24, 2017:

English: Logo of the .

In its report released last week the USDA reported that SNAP – the Supplemental Nutrition Assistance Program, the old food stamp program – is shrinking, a little. In 2016, 44 million Americans and immigrants (legal and illegal) took advantage of taxpayers’ largess, costing them $71 billion. In 2010, there were 47 million receiving SNAP benefits costing taxpayers closer to $80 billion.

The program, which began in 1969, has virtually exploded, from just 2.9 million beneficiaries that year (costing taxpayers a paltry $250 million) to a peak of 47.6 million in 2013, which cost taxpayers $79.9 billion.

Part of the shrinkage is due to

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New York Times Shrinks Print Staff; 100 Taking Severance Offers

This article appeared online at TheNewAmerican.com on Friday, July 21, 2017:

English: The New York Times building in New Yo...

On Thursday more than 100 staffers at the New York Times, including copy editors and reporters, took their only option: severance packages offered as the paper continues to shrink its print staff.

Though they were warned well in advance, many of those whose jobs were in jeopardy decided to wait until the bitter end, hoping to snag one of the few new job openings at the Times’ digital operations. For many, those final job interviews turned out instead to be offers to take the severance package, as their job skills no longer fit the new paradigm at The Gray Lady.

Red ink has been flowing for years as the Times struggled with a shrinking print audience and a technology that wasn’t keeping up with audiences switching to online media for their information. In January the Times published an internal report, “Journalism That Stands Apart,” crafted by seven of the newspaper’s journalists. It was blunt in its assessment:

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Trump’s Growth Target Reduced to 3 Percent

This article appeared online at TheNewAmerican.com on Monday, July 17, 2017:  

For Mick Mulvaney, President Donald Trump’s director of his Office of Management and Budget (OMB), reality is setting in. On the campaign trail Trump repeatedly promised four percent growth in the GDP (gross domestic product): “We’re bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.” (October, 2016). Later that month he doubled down during a speech to an audience in North Carolina: “I’m going to get us to 4 percent growth and create 25 million jobs over a 10-year period.”

Mulvaney’s editorial in the Wall Street Journal on Wednesday was unapologetic: “We are promoting MAGAnomics — and that means sustained 3 percent growth.” This new tag, which incorporates the acronym for “Make America Great Again,” is a play on “Reaganomics” from the 1980s:

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Will Mulvaney Have Any More Success with MAGAnomics than Stockman did with Reaganomics?

This article was published by The McAlvany Intelligence Advisor on Monday, July 17, 2017:

English: Official portrait of US Rep. Mick Mul...

Mick Mulvaney.

After serving in the House as a Republican representative from Michigan, David Stockman served as President Ronald Reagan’s OMB director from January 1981 until he quit 4½ years later in frustration. He got half of Reaganomics passed – the tax reduction part. He failed in getting the other half passed – the government spending cut part.

Mick Mulvaney is now Trump’s OMB Director after serving in the House as a Republican from South Carolina. And his job is likely to be as difficult and frustrating as was Stockman’s.

It’s far too soon to speculate about Mulvaney.

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Robots May Take 2/3 of Las Vegas Service Jobs

This article appeared online at TheNewAmerican.com on Monday, July 10, 2017:

Two college professors from the University of Redlands, California, looked at the occupations at the highest risk of being automated or replaced by robots, analyzed 100 American cities with working populations over 250,000, and listed those cities most at risk. They included Bakersfield and Riverside, California; El Paso, Texas; and at the top of the list, Las Vegas. The professors predict that over the next two decades, at the present rate that robots are replacing workers, 65 percent of the jobs in Las Vegas will be done by robots.

They will include robots

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When Will the Luddites Ever Learn?

This article was published by The McAlvany Intelligence Advisor on Monday, July 10, 2017: 

Rage Against the Machine

Rage Against the Machine

Two Oxford University professors, Carl Benedikt Frey and Michael Osborne, wrote back in 2013 that the robotic revolution would overtake and virtually displace human workers in broad expanses of U.S. industry. Those occupations most at risk include loan officers (98 percent chance of being replaced by a robot), receptionists and information clerks (96 percent), paralegals and legal assistants (94 percent), retail sales people (92 percent), taxi drivers and chauffeurs (89 percent), and fast food cooks (81 percent).

At the bottom of the list are elementary school teachers and physicians and surgeons (0.4 percent chance), lawyers (4 percent), musicians and singers (7 percent), and reporters and correspondents (11 percent).

They found that almost half of those currently employed in the United States were in their “high risk” category, defined as jobs that could be automated “relatively soon, perhaps over the next decade or two.”

Two other college professors, this time from the University of Redlands, California, decided to take the Oxford study and apply it to American cities with more than 250,000 workers. They concluded that

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Robots and Kiosks (and Amazon) are Making Jobs Reports Irrelevant

This article was published by The McAlvany Intelligence Advisor on Friday, July 7, 2017:

MarketWatch

MarketWatch

Malcolm Frank is one of those rarest of futurists: He sees what’s coming and writes clearly about what to do about it. In his What to do When Machines do Everything: How to get Ahead in a World of AI, Algorithms, Bots and Big Data, Frank discusses the massive upheavals businesses are going through as they try to keep up and stay profitable.

One issue he doesn’t discuss is how to measure the new economy’s output.

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Jobs Market Getting Tighter, Says ADP

This article appeared online at TheNewAmerican.com on Thursday, July 6, 2017:

At first blush the jobs report from ADP, the data-processing firm that works with Moody’s Analytics in developing its monthly review, looked disappointing. Economists had expected 185,000 new jobs created in June but instead they got just 158,000. Further, both estimates and ADP were well below the 230,000 new jobs number reported for May.

A closer look behind the headlines reveals a startling fact:

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Enjoying Record Low Gas Prices? Thank a Fracker!

This article appeared online at TheNewAmerican.com on Tuesday, June 27, 2017:  

On November 17, gas prices had dropped to $1.9...

Of the estimated 44 million Americans who will travel over the upcoming Independence Day holiday weekend (a record, by the way), 37.5 million of them will drive to their destinations. Along the way they will not only spend nearly a dollar a gallon less for gas than they have over the last 10 years on average, they will spend less on gas than any Independence Day since AAA has been keeping records. In addition, this will be the first time in nearly two decades that they will be spending less for gas in July than they did in January. On average over the last decade gas prices have been 47 cents a gallon higher on the Fourth of July than on New Year’s Day.

Consumers are always the ultimate beneficiaries of improved technologies, as producers are

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Blockbuster Study: Seattle’s Minimum-wage Increases Cost Low-wage Workers $125 a Month

This article appeared online at TheNewAmerican.com on Monday, June 26, 2017:  

A study commissioned by Seattle’s city council just came back with results they didn’t want to hear: Their efforts to raise wages of the city’s lowest-paid workers are instead costing them about $125 a month. This is thanks to their employers cutting their hours in response to the law raising the minimum wage from $10.50 an hour to $13 an hour in 2016.

Mark Long, one of the authors of the University of Washington (UW) study, said:

If you’re a low-skilled worker with one of these jobs, $125 a month is a sizeable amount of money. It can be the difference between being able to pay your rent and not being able to pay your rent.

In addition, the UW study concluded that, thanks to the minimum-wage increase, some 5,000 low wage jobs in Seattle were never created.

All of which makes perfect economic sense:

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Trump, Mexico Settle Sugar Dispute Just in Time for NAFTA Renegotiations

This article appeared online at TheNewAmerican.com on Wednesday, June 7, 2017: 

The sugar settlement between the United States and Mexico, announced on Tuesday by U.S. Commerce Secretary Wilbur Ross, sets the stage for the NAFTA “renegotiation” scheduled to begin in August. And the settlement is going to cost Americans more to satisfy their sweet tooths.

At bottom, it’s all about protecting an inefficient American industry from foreign competition. Sugar is an enormous industry, and economic and political interests want to keep protections in place in order to save it from foreign competition. On one side is Big Sugar:

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May’s Jobs Report Stronger Than It Appears

This article appeared online at TheNewAmerican.com on Friday, June 2, 2017:

The headline number from the Department of Labor’s Bureau of Labor Statistics’ (BLS) May jobs report, released on Friday, appeared weak: Just 138,000 new jobs were created last month compared to expectations of 185,000 by forecasters. But as usual, a peek beneath the headlines shows an economy growing steadily, providing it with more than enough workers to absorb those leaving or retiring.

After revisions were made to March and April numbers, May’s job creation was more than the last three months’ average of 121,000. Taking into account robust numbers reported from ADP, a national human resources and benefits firm, on Wednesday — it reported that 253,000 new jobs were created in May — Mark Zandi, chief economist at Moody’s Analytics remarked,

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.