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The payroll jobs report for May released today continues the fantasy. Goods producing jobs declined, with manufacturing losing another 4,000 jobs, but the New Economy produced 179,000 service jobs. Are these jobs the high-powered, high-wage “innovation jobs” that economists promised would be our reward from Globalism. I’m afraid not. According to the Bureau of Labor Statistics, the jobs created are the usual lowly paid non-exportable domestic service jobs–the jobs ...Read full article...
UPI November 1, 2011 Brazilian government economic planners have been served the first warning this year that the Latin American country’s commodities-fueled economy may be slowing. Data released by the state development bank BNDES indicated the sluggish growth wasn’t only a reality but one that had gained momentum in recent months. Reports of the continent’s largest economy slowing contrast with projections that continue to indicate healthy activity in most ...Read full article...