Daily Digest

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Daily Digest 9/6 - How To Read The Jobs Report, Dengue Fever In Japan

Saturday, September 6, 2014, 10:21 AM

Economy

Monthly U.S. Jobs Report: A Story Told by Numbers, With a Twist (or Two) (jdargis)

wo data points get the most attention when the U.S. Bureau of Labor Statistics releases its monthly report on the employment situation: the unemployment rate and the number of jobs added or lost. The BLS calculates unemployment rates by surveying people over the age of 16 who aren’t in the military, in prison or in mental hospitals. They are asked whether they are currently working and, if not, whether they have searched for a job in the last four weeks. Those who have stopped looking for work — whether because they have retired or because they have given up hope of finding a job — are considered outside the labor force. The data come from the Current Population Survey, which polls about 60,000 households every month. In addition to the unemployment rate, the CPS, which is commonly known as the household survey, is also the source of data on how many people are working part-time vs. full-time, as well as information on the age, gender, and racial composition of the labor force.

Do High-School Students With Jobs Make More Money Later in Life? (jdargis)

Of course, the biggest wage booster of all is still going to college. A Pew report earlier this year found that the wage premium of completing a bachelor’s degree is at a record high. There’s conflicting research on whether high-school employment negatively affects grades and educational attainment, though the conventional wisdom is that working more than 15 hours can hurt your grades. So work in high school, just not too much. And for those who can't finish their homework, better to stay home and study, as even a high-school diploma will likely boost your future earnings more than working in high school.

What's The Point Of Hiding It Any Longer? (pinecarr)

At this point why even pretend there is a "market"? The "market", and by "market" we mean stocks - it has long been known that central banks actively trade bonds, FX and commodities - is whatever central banks say it is.

Finally, if central banks are going to be rigging the market as they now conclusively are on a daily basis, perhaps they can disclose ahead of the trading day start to everyone, and not just the primary dealers, what the closing S&P 500 price for any given day is.

Rare Outbreak of Dengue Fever in Japan (jdargis)

Japan’s health minister on Friday urged the public not to panic after a popular park in central Tokyo was closed because of a rare outbreak of dengue fever. The Ministry of Health said that 70 people had been found infected with the dengue virus in the past week, in what it called the first outbreak in Japan since 1945. Dengue, which causes fevers and in rare cases death, is common in tropical climates, but not in temperate Japan. Officials said global warming might be playing a role in the spread of dengue to places like Tokyo. This year, Japan had an unusually hot and humid summer.

Obama outlines strategy to 'ultimately destroy' Islamic State (jdargis)

“It is absolutely critical that we have Arab states, and specifically Sunni-majority states, that are rejecting the kind of extremist nihilism that we're seeing out of ISIL, that say, ‘That is not what Islam is about,' and are prepared to join us actively in the fight,” Obama said, using one of the acronyms for Islamic State.

Secretary of State John F. Kerry and Defense Secretary Chuck Hagel are to fly to the Middle East in coming days to line up regional partners, a push for a Middle Eastern coalition that recalled the Sunni Awakening movement a decade ago that brought some stabilization to Iraq during the war there.

Pursuing ISIS to the Gates of Hell

If that phrase sounds familiar, it’s because Joe Biden uttered it on Wednesday about the Islamic State of Iraq and Syria (ISIS). He said it, I suspect, in part because he recognizes that over the last two weeks, America’s foreign-policy debate has turned Jacksonian in a way that could cause the Obama administration a great deal of trouble.

More than 100,000 lose power as storms hit Chicago area (jdargis)

As more people return home in the evening and report more outages, those numbers could increase significantly, she said.

“If there are down power lines please assume they are energized,” Morris-Johnson warned. “You cannot look at it and determine if there’s power running through it. Call us to handle that.”

Wildfire Near Yosemite Forces Hundreds Evacuations (jdargis)

Meanwhile in far northern California, a blaze that broke out nearly four weeks ago grew to nearly 130 square miles.

A red flag warning for dangerous fire conditions near that blaze was extended to Saturday night, but it has yet to damage any homes or buildings. It's 25 percent contained.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/5/14

Provided daily by the Peak Prosperity Gold & Silver Group

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2 Comments

AKGrannyWGrit's picture
AKGrannyWGrit
Status: Gold Member (Offline)
Joined: Feb 6 2011
Posts: 433
Paul Ehrlich

I do hope Mr. Ehrlich is on the guest list for the not too distant future as I am looking forward to the podcast.  Just making sure you haven't forgotten and know that some of us visit the site regularly with anticipation to see who you will interview next.

Thanks

AK Granny

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
Europe Goes "All In": Will sanctions Russian Energy Exporters

From Zerohedge @ http://www.zerohedge.com/news/2014-09-07/europe-goes-all-will-sanction-rosneft-gazprom-neft-and-transneft

"Until this moment, the main reason why everyone mostly dismissed Europe's sanctions against Russia is that despite all its pompous rhetoric, Europe consistently refused to hit Russia where it would hurt: its energy titans Gazprom, Rosneft And Transfneft. The reason is simple: by imposing sanctions on these core energy exporters, Europe would directly threaten the stability of its own energy imports (Russia accounts for up to 30% of German gas imports), and as winter approaches with every passing day, playing with the energy status quo would seem like economic suicide. This all appears to have changed last Friday, when as the FT reports from a leaked copy, Europe's latest sanctions round will boldly go where Europe has never dared to go before, and impose sanctions on the big three: Rosneft, Gazprom Neft and Transneft."

 

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