Paper Economy - A US Real Estate Bubble Blog: Envisioning Employment: Employment Situation August 2012

Friday, September 07, 2012

Envisioning Employment: Employment Situation August 2012

Today’s Employment Situation Report indicated that in August, net non-farm payrolls increased only slightly adding 96,000 jobs overall with the private non-farm payrolls sub-component adding just 103,000 jobs while the civilian unemployment rate declined slightly to 8.2% over the same period.

Net private sector jobs increased just 0.09% since last month climbing 1.80% above the level seen a year ago but remained a whopping 3.64% below the peak level of employment seen in December 2007.

Labels: economy, nonfarm payrolls, unemployment rate

8 Comments:

Interesting post.!!

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By Devender Gupta, at 12:46 AM
Adding 96,000 jobs overall with the private non-farm payrolls would be a great help in this economy.

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By Entrümpelung wien, at 7:48 AM
The job situation today poses an interesting question for those on both the left and the right. Why is it or how can it be that companies in the standard and poors five hundred are seeing their earnings soar while at the same we are seeing such animic job creation by the private sector. The answer technology. Labor saving technology and also the increasing ability of many companies to move not just physical production overseas but also white collar jobs overseas. What we have here is a very serious dilemma on the one hand increasing productivty can keep prices down their by keeping inflation in check. But theirs a problem in our economic system. If a company is profitable and productive they could use their increasing productivity to improve both wages and benefits of their employees and they could also use their increasing productivity to lower prices or at least not raise prices. On the other hand they could use their growing excess profits which are directly related to their increasing efficiency and productivity to buy back their stock pay a larger dividend and do acquisitions or just hold the cash on their balance sheet. Rather than increase and improve the wages and benefits of their empolyees and lower or hold prices of their products and services steady. I believe the vast majority of businesses in the united states have chosen to do the latter. In order to expect companies to pass on their excess profits in the form of lower prices or stable prices we must see increased competition among firms in the same business. This is often absent. Look at the huge money center banks that have a hold on huge regions of the country. With fewer competitors these companies can keep much of their excess profits instead of being forced to pass them along to consumers.. Another factor that is at work here is the tremendous amount of competition for jobs in the lackluster labor market as long as unempolyment remains high many companies are not inclined to increase wages and improve benefits. In the end we have a growing mismatch between the ability of the average consumer to afford the products and services being provided to the consumer by business.

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By micheal clark, at 4:20 AM