{"id":184203,"date":"2012-07-06T19:10:00","date_gmt":"2012-07-07T00:10:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/07\/06\/economy-suckage-continues\/"},"modified":"2012-07-06T19:10:00","modified_gmt":"2012-07-07T00:10:00","slug":"economy-suckage-continues","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/07\/06\/economy-suckage-continues\/","title":{"rendered":"Economy Suckage Continues"},"content":{"rendered":"<div style=\"border: 1px solid black; float: right; margin: 0px 10px; padding: 5px; text-align: center; width: 400px;\">Click for full size<\/p>\n<hr \/>\n<p><a href=\"http:\/\/i990.photobucket.com\/albums\/af27\/msaroff\/payrolls.jpg\"><img decoding=\"async\" border=\"0\" bordercolor=\"white\" src=\"http:\/\/i990.photobucket.com\/albums\/af27\/msaroff\/payrolls.jpg\" width=\"390\" \/><\/a><br \/><i>It&#8217;s the cuts in government employment, stupid!<\/i><\/div>\n<p>Yes, yesterday <a href=\"http:\/\/articles.marketwatch.com\/2012-07-05\/economy\/32542538_1_initial-claims-first-time-claims-rdq-economics\">initial claims improved a bit yesterday<\/a> , but <a href=\"http:\/\/www.nytimes.com\/2012\/07\/07\/business\/economy\/unemployment-report-for-june.html\">today&#8217;s monthly job figures are horrible<\/a>, with unemployment (U-3) staying at 8.2%, and only 80K jobs, less than needed to match population growth.<\/p>\n<p>As <a href=\"http:\/\/blogs.reuters.com\/felix-salmon\/2012\/07\/06\/chart-of-the-day-government-payrolls-edition\/\">Felix Salmon notes<\/a>, the real problem is that government payrolls have been slashed for the past year or so, as people make invocations to the austerity fairy.<\/p>\n<p>BTW, while the U-3 unemployment rate was flat, but the less conservative, and to my mind more representative,&nbsp;<a href=\"http:\/\/www.bls.gov\/news.release\/empsit.t15.htm\/U6\">U-6 unemployment rate rose to 14.9%<\/a>.<\/p>\n<p>Not good news.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size It&#8217;s the cuts in government employment, stupid! Yes, yesterday initial claims improved a bit yesterday , but today&#8217;s monthly job figures are horrible, with unemployment (U-3) staying at 8.2%, and only 80K jobs, less than needed to match population growth. As Felix Salmon notes, the real problem is that government payrolls &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1089],"tags":[],"class_list":["post-184203","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184203"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184203"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184203\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}