Tag: Employment

On Quitting My Job

 

“What makes you think you were doing bad work?” Asks the psychologist. Not a real one, just the call-and-response in my cranium.

“Well, there’s only so many hours a workday you can spend on Ricochet when you ought to be doing other things and still think you’re a good worker. I’m not going to sit here taking their coin forever when I’m not providing commensurate services in exchange. It’s dishonest.”

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Red Hot Stocks!

 

Stocks are red hot…and so are other investments, resulting in these headlines:

The Best First Half for Financial Markets Ever — U.S. News and World Report, 28 June 2019

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President Trump Rocks Out with Real Heavy Metal Band

 

The afternoon of 20 March 2019, President Trump rocked out with a group that makes real heavy metal. The event was different from other presidential appearances, but featured many of the same themes. Two themes, American defense revival and energy dominance, stood in stark contrast to news from Germany. In the midst of the prepared remarks, with the usual riffs, President Trump elaborated on his criticism of the politician John McCain, who the appointed Senator from Arizona, Martha McSally, is unconditionally defending, raising questions about her viability or suitability in 2020. President Trump’s visit to the Lima Army Tank Plant was a great political messaging success on several levels.

The setting:

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Member Post

 

http://www.bbc.com/capital/story/20180806-how-hidden-bias-can-stop-you-getting-a-job I was just reading the BBC essay above, on problems encountered in the hiring process, and how employers can further eliminate their hidden biases. Some of it was probably helpful but one sentence jumped out at me: More

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There is a terrific Wall Street Journal article today about the increasing number of people living with a disability who are entering the workforce. One man applied for more than 300 government jobs with no success before landing a job as a bartender near Gallaudet. Now he owns his own craft brewery. I am curious to […]

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Business leaders, educators, and nonprofit donors across the country are intensifying efforts to revamp career and technical education in the United States. Recently, City Journal convened a panel of experts to talk about how these efforts can be applied in American high schools. Fixing America’s crisis of long-term, persistent joblessness will also require major upgrades to K-12 education, where big spending increases […]

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Thesis: For 55 years conservatives would eventually win every argument on economics, trade, and immigration by chaining liberals to the whippin’ post of data analytics. America is now on the brink of ruin, conservatism on the brink of irrelevancy, and the two political parties are stranded on terra incognita. If conservatives don’t stop winning arguments […]

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Would Fewer High-skill Visas Really Mean More Jobs for Americans? Hmm…

 

As I write this, President Trump still hasn’t selected someone to chair his Council of Economic Advisers, much less filled all the CEA slots. That, even though Gary Cohn, head of Trump’s National Economic Council, recently said his boss has “every intention” of appointing a CEA chair. (Actually, it’s the law. The CEA was created by the Employment Act of 1946.) What’s more, the CEA chair apparently will not be cabinet-level in the Trump White House. Still, maybe now that Steven Mnuchin is on the job as Treasury secretary, a CEA pick will be forthcoming. Who knows?

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August Jobs Report: The Most Boring Economic Expansion Ever Keeps Being Boring

 

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As I tweeted about the August jobs report: “So 151,000 new August jobs, under expectations. Unemployment, employment, participation, and U-6 rates all stay the same.” I could also have tossed in the meh numbers on wage growth (slowed a bit, though keep in mind inflation is quite low) and long-term unemployment (stable but high).

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From the Ottawa Citizen: The United Nations was a terrible employer. More

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March Jobs Report Shows Labor Market Continues Its Slow March Forward

 

The recovering US job market continued to march forward in March.

Nonfarm payrolls rose by 215,000 vs. a monthly average of 223,000 the previous 12 months. Just keepin’ on, keepin’ on. The unemployment rate edged up to 5.0% but for positive reasons as labor force participation continues to rise. Overall, the labor force grew by nearly 400,000. As Capital Economics notes: “…the labor force has now increased by more than two million in the past five months alone. The participation rate has jumped from a low of 62.4% last September to a two-year high of 63.0% this March. This is a remarkable turnaround in terms of both its speed and magnitude.”

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If Trump Were Serious About Immigration

 

When looking back at the 2016 election, historians will undoubtedly be able to identify the principal fault lines that drove the tectonic shifts we’ve seen, particularly among Republicans. However, I’m not yet throwing in the towel on the idea that Donald Trump can be denied the nomination. I think his ascendence would be a disaster for the party and our nation, given that the best evidence available indicates that Trump will perish bigly in a ball of electoral flames like Sinclair in The Rocketeer. Sinclair's_death

That said, it seems clear that the proximal causes of these ructions revolve around immigration policy. Trump has promised to address this matter and some of his positions aren’t terrible. However, they miss the fundamental issue that bedeviles us. The reason why we have an immigration problem does not lie in the lack of a wall, but in economics.

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Cartels and Concierge Bureaucracy Management

 

Several years ago I heard an amusing story on NPR’s Planet Money program. The story described an Indian entrepreneur who, frustrated with India’s local political corruption and red tape, started a new business: Concierge Bribery. For a fee, he would seek out and pay off all of the sundry local officials whenever a local business needed something done. I thought how lucky we were that America had not yet descended to that level. I was deeply wrong. We, in fact, have had concierge bureaucracy managers for some time.

While it is generally a good maxim to never ascribe to mendacity that which can be explained by incompetence, normal logic seems rarely to apply to any of the corruption and rot stemming from Obamacare (and for the record, I refuse to call it “The Affordable Care Act”, or ACA). The act seems explicitly designed, among other things, as a tool to force a cartelization of the entire medical industry. We see this in the rapid demise of independent practices, as they close up shop and merge into large provider networks — effectively regional medical cartels. What we are not yet seeing, or rather noticing, on any scale is the very similar effect Obamacare (when coupled with the many other business strictures in place) is having on general employment itself.

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When I got to that point in the Ricochet sign-up I had to stop and think. You see, I know how the Internet works. Every single employer I get from now to forever will google my name and see it associated with right wing ravings. Never mind that I don’t actually rave often; employers are […]

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Back in the summer, the Department of Labor announced a proposed rule change to overtime / hourly wages – effectively forcing all businesses to put any employee under their arbitrary threshold (Approx $50,500) on an hourly pay scale, regardless of their exemption status. This was targeted to start in 2016. Is this rule actually going […]

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I enjoyed a nice dinner (H/T to Al Biernat and his team) with two friends who are institutional sales brokers yesterday. We always talk shop and Friday morning’s Bureau of Labor Statistics (BLS) Employment Situation Report was the hot topic. JR, the relentless bull called it a monster print and then ordered his third martini while I rolled […]

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The first Friday of most every month is widely followed in markets because the Bureau of Labor Statistics releases the Employment Situation report including private non-farm payrolls used to measure job creation. Additionally, other scrutinized statistics include employed population, unemployed, civilian labor force, unemployment rate, part-time, over time, etc. The report is the most widely followed and […]

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