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Jobless Rate Drops to 7.4%, but Job Growth Still Lags

Mike Hall | Economy

Photo by Steve Rhodes/Flickr

The nation’s economy added 162,000 new jobs in July and the jobless rate dropped to 7.4% from June’s 7.6%, according to  figures released this morning  by the U.S. Bureau of Labor Statistics.

William Spriggs, AFL-CIO chief economist, said today’s job numbers “continue to show a very mild recovery, but they fell below expectations and are disappointing.”

Read more and comment »

Something Is Fundamentally Wrong

William Spriggs | Economy

President Obama continued his visits to different parts of America to discuss the economy. This is his attempt to use the Bully Pulpit of the Presidency to direct a national dialogue. The president said, “There are no simple tricks to grow the economy. What we need is a serious, steady, long-term American strategy that reverses the long erosion of middle-class security and gives everyone a fair shot to get ahead.”

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Collaboration@Work See How America's Unions Make a Difference

Just How Low Can Your Salary Go? 117 ALEC Bills in 2013 Fuel Race to the Bottom in Wages and Workers' Rights

Mary Bottari and Rebekah Wilce | Economy

Just How Low Can Your Salary Go? 117 ALEC Bills in 2013 Fuel Race to the Bottom in Wages and Workers' Rights

At least 117 bills introduced in 2013 fuel a "race to the bottom" in wages, benefits and workers' rights and resemble "model" bills from the American Legislative Exchange Council (ALEC), according to a new analysis by the Center for Media and Democracy (CMD), publishers of ALECexposed.org .

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Getting on Track

William Spriggs | Economy

This week, President Obama kicked off a series of talks to America's working families on the economy. He started in Galesburg, Ill., where he succinctly described a solution to our economic troubles: making the middle class the engine of American prosperity. Obama said:

I care about one thing and one thing only, and that’s how to use every minute of the 1,276 days remaining in my term to make this country work for working Americans again.

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Fiscal Follies: Watch the Conversation on Budget Surplus

William Spriggs | Economy

Last week, the White House announced changes in projections for fiscal health. In June, the government will have a surplus and the projected deficit for this year will be $214 billion less than originally projected. That means the deficit will be 4.7% of GDP (the nation’s total income), down from the original forecast of 6%.  Moreover, the deficit will be below 3% of GDP by 2017. Now it is time for the follies to begin.

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Growing Threat of Currency ‘War’ Could Derail Global Economic Recovery

Mike Hall | Economy

Growing Threat of Currency ‘War’ Could Derail Global Economic Recovery

China has long been known as the globe’s biggest currency manipulator. China undervalues its currency—the yuan or the renminbi— and that raises the price of U.S. exports and suppresses the price of Chinese imports into the United States. This artificial price advantage is a major factor that encourages U.S. businesses to shut down operations here and manufacture in China instead, costing the U.S. millions of manufacturing jobs and is a major reason for the massive U.S. trade deficit.

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eZTemplate: Loading template "content/datatype/view/ezxmltags/link.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezxmltags/li.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezxmltags/link.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezxmltags/li.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezxmltags/ul.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/ezimage.tpl" with resource "design"
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "content/datatype/view/eztext.tpl" with resource "design"
Timing: Oct 02 2013 03:25:34
End
Notice: Oct 02 2013 03:25:34
eZTemplate: Loading template "setup/debug_toolbar.tpl" with resource "design"

Timing points:

CheckpointElapsedRel. ElapsedMemoryRel. Memory
Script start 0.0000 sec0.0131 sec 1,284.6719 KB1,198.9844 KB
Module start 'content' 0.0131 sec0.4394 sec 2,483.6563 KB6,404.8672 KB
Module end 'content' 0.4525 sec1.8152 sec 8,888.5234 KB15,199.8047 KB
End 2.2677 sec  24,088.3281 KB 
Total runtime:2.2848 sec
Peak memory usage:25,874.5781 KB

Time accumulators:

 Accumulator Elapsed Percent Count Average
ini_load
Load cache0.0073 sec0.3186%330.0002 sec
Find INI Files0.0003 sec0.0111%60.0000 sec
Mysql Total
Mysqli_queries1.5122 sec65.9985%12350.0012 sec
Looping result0.0314 sec1.3683%12160.0000 sec
TS translator
TS init0.0021 sec0.0920%40.0005 sec
TS cache load0.0010 sec0.0439%40.0003 sec
TS context load0.0007 sec0.0303%40.0002 sec
Template Total2.2461 sec 98.0% 3 0.7487 sec
Template load0.0053 sec0.2317%30.0018 sec
Template processing2.2407 sec97.7927%30.7469 sec
Template load and register function0.0001 sec0.0051%10.0001 sec
states
state_id_array0.1052 sec4.5903%850.0012 sec
state_identifier_array0.1223 sec5.3384%960.0013 sec
override
Cache load0.0068 sec0.2947%1370.0000 sec
Sytem overhead
Fetch class attribute name0.0164 sec0.7138%420.0004 sec
Fetch class attribute can translate value0.0016 sec0.0717%220.0001 sec
class_abstraction
Instantiating content class attribute0.0015 sec0.0635%540.0000 sec
XML
Image XML parsing0.0178 sec0.7751%220.0008 sec
General
String conversion0.0000 sec0.0008%30.0000 sec
dbfile0.0037 sec0.1617%1040.0000 sec
Total script time:2.2912 sec