News
CNN Money | Brutal losses in state and local jobs
Nearly 250,000 state and local government employees lost their jobs in 2011, with the ax falling particularly hard on public school teachers.
Washington Times | Business groups fear revitalized NLRB
The National Labor Relations Board will have a “cloud” hanging over any rulings it makes after President Obama this week pushed through three recess appointments to the agency that don’t pass “constitutional muster,” a former member of the labor board said Thursday.
NY Times | Manufacturing Is Surprising Bright Spot in U.S. Economy
For the first time in many years, manufacturing stands out as an area of strength in the American economy.
CNN Money | Unemployment falls ... but not for blacks
But at the end of the year the black unemployment rate was 15.8%, exactly where it started out 2011, according to the government's December jobs report released Friday.
CNN Money | Holiday deliveries boost job numbers
Well, not exactly. More than 40,000 of those jobs were couriers and messengers, which were in demand during the holidays because of the increased focus on online shopping rather than retail.
Econ Comments
RCM | Obama Grasps At Employment Straws
The BLS "Household Survey" is more statistically valid, and it provides a more accurate picture of labor market conditions. This report showed that total employment rose by 176,000 in December. This is only a little more than half the increase reported for November, and it is 25% less than the average monthly increase for the second half of 2011 as a whole.
WSJ | Unemployment Scars Likely to Last for Years
...economists gathered here for the American Economic Association's annual convention took a longer and generally dimmer view.
Blogs
Calculated Risk | Question #5 for 2012: Employment
How many payroll jobs will be added in 2012?
WSJ: Real Time Economics | Government Still Trimming Jobs, but Cutbacks Slow
State and local governments continue to be a big drag on the job market, though they are cutting jobs at a slower pace than they were over the past two years when the economy was weaker and their budgets tighter.
Calculated Risk | Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
This was a decent report compared to expectations, but it was still weak compared to the number of people unemployed and the high level of unemployment.
Daily Capitalist | December Unemployment Data: There Is Less Than Meets The Eye
Unemployment has been the devil in the economy: its persistence at a high level belies the argument that the US economy is in recovery.
WSJ: Real Time Economics | Jobs Strength Is There, Now Sustainability Needed
A sustained pace of December-caliber job growth is needed to trigger the virtuous cycle of more income generating more demand which causes businesses to add more workers. The key word there is “sustained.”
