Tag: may

May Jobs Report: Bad But Not Terrible

 

The US employment rate ticked lower last month, and at 4.3% fell to its lowest level since May 2001. But that’s pretty much where the good news ends. Job growth was just 138,000 versus Wall Street expectations of 180,000, and the prior two months were revised down a net 66,000 jobs. (Though it seems the calendar played a role here. The payroll survey week may have been a bit too early to capture students going to work at summer jobs.)

Moreover, the jobless rate fell “for all the wrong reasons,” notes Capital Economics. The decline was driven by the labor force participation rate falling 0.2 percentage point to 62.7%. The employment rate fell by the same amount.

What about paychecks? This from JPMorgan: “The dreary realities on labor supply have been reasserting themselves in recent months. On wages, the gradual 2015-2016 acceleration has stalled so far this year; average hourly earnings rose a modest 0.2% last month and the year-ago increase was unchanged at 2.5%.” So as Deutsche Bank argues, perhaps 2.5% wage growth is the news 3%, especially given weak productivity growth.

Winning through Ricochet – and Knowing What You’ve Lost

 

Ah, collagen. The most abundant protein in animals. Great for cooking into rich sauces – and glue (hence the name). It gives structure to mammals’ extracellular space. Your skin, tendons, ligaments, blood vessels, mucous membranes, cartilage, bones, and teeth all depend on collagen for strength. When our collagen lets us down, we can expect trouble.

Several diseases, from rheumatoid arthritis to scurvy, are connective-tissue diseases. Several attack our abundant collagen specifically. Sometimes, though, collagen weakens not because it’s under attack, but because it never formed right to begin with. Several genes have been identified as causing Ehlers-Danlos Syndrome (EDS), congenitally weakened cartilage, and several genes remain to be discovered. The worst types of EDS are super-weird, and super-scary. Your silly-putty skin could be so loose and stretchy that it’s obvious from birth you’d be a freak-show star, pulling your neck skin over your face for strangers’ amusement. Or maybe your joints dislocate so easily you’d join the circus as a contortionist, disarticulating yourself for cold, hard cash. Or maybe EDS causes your organs to explode, far less marketable but still super-scary. Many of us, if we’ve heard of EDS at all, have more reason to think “circus freak” than “subtle.”