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Exposing The Lie Behind The “Strong Jobs Recovery” In One Chart

With all eyes glued to Friday’s payrolls report, we thought it worth reiterating some ‘facts’ about US employment data. As ECRI notes, the sustained decline in the official jobless rate – now approaching the Fed’s estimate of “full employment” – is a misleading indicator of labor market slack. The data shows thatthe so-called jobs recovery has been spearheaded by cheap …

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Peter Gosselin – Why American Teens Aren’t Working Summer Jobs Anymore

This was supposed to be a better year for teenagers to land summer jobs, and July has always been the peak month for such positions. Things haven’t worked out that way, according to the Labor Department’s latest jobs report. On an unadjusted basis — which is probably fairer given the question is seasonal jobs — there was a 1.2 million increase in teen …

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Nick Licata – ALEC, Where Corporations Are “People” Like You and Me

Unlike other political organizations of locally elected public officials, corporations, business associations, and think tanks are full voting ALEC members, referred to as the private-interest partners. From talking to one private-interest member, the cost of joining ALEC is just over $1,000 but to vote in one of ALEC’s task forces that make policies, the cost goes above $3,000. I suspect …

How Technology Is Destroying Jobs By David Rotman

Given his calm and reasoned academic demeanor, it is easy to miss just how provocative Erik Brynjolfsson’s contention really is. ­Brynjolfsson, a professor at the MIT Sloan School of Management, and his collaborator and coauthor Andrew McAfee have been arguing for the last year and a half that impressive advances in computer technology—from improved industrial robotics to automated translation services—are …

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US home ownership rate hits lowest level in two decades By Andre Damon

The economic recession that began with the collapse of the housing market in 2007 officially came to an end in June 2009—more than six years ago. But by most indications, American households are significantly worse off than they were at the depth of the downturn. Despite the drop in the official unemployment rate, household incomes have fallen, wages have stagnated …

The Hidden Hand: The Forces behind America’s Economic Destruction

The Hidden Hand: The Forces behind America’s Economic Destruction Gary Null Progressive Radio Network, May 13, 2014   On the Brink of Economic Calamity We are witnessing unprecedented low points in American economic history as 50 million Americans—17 million of them children—are living below the poverty line[i],[ii] while 47 million citizens rely on food stamps[iii]. All told, the 2008 economic …

Seeds of doubt: Monsanto never had Bt cotton patent – Shishir Arya & Snehlata Shrivastav

Fourteen years after US multinational Monsanto brought the genetically modified (GM) Bt Cotton (Bollgard) to India, there is no clarity on the discovery having ever been patented in the country. Clueless Indian farmers and seed manufacturers have paid crores as royalty to the company from 2002 until 2006, when the company came out with Bollgard 2, which was, incidentally, patented. …

Most of the world’s workers have insecure jobs, ILO report reveals – Katie Allen

A global shift to more insecure jobs since the financial crisis is fuelling growing inequality and higher rates of poverty, according to a new report that estimates only a quarter of the world’s workers are on permanent contracts. The International Labour Organization (ILO) said the remaining three quarters are employed on temporary or short-term contracts, working informally often without any contract, are …

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Women are more likely to be physically assaulted in developed countries, study shows

When researchers examine violent assault numbers, historically the data has pointed to higher rates of female victimization in developing countries. But a study by a West Virginia University sociology professor finds that women in developed countries — like the United States — are actually more likely to be physically assaulted than women in developing countries. In “Individual and Structural Opportunities: …

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Unemployment Report Shows Labor Force Drop Outs At Record High

The March unemployment rate remained the same, yet once again the BLS survey showed another huge increase in those not considered part of the labor force anymore and as a result the figure hit a record 93.175 million high.  The official unemployment rate is 5.5%.  The labor participation rate is also 62.7% and remains at 37 year record lows.  From …