     |
Job Growth
Dear Friends of the U.S. Department of Labor: We are pleased to share with you our Spring/Summer 2008 edition of The Labor Advocate, a newsletter about DOL issues important to America's working families. In the Spring/Summer 2008 issue of The Labor Advocate, you will find articles titled: * Secretary of Labor Elaine L. Chao delivers keynote speech at the 2008 National Peace Officers’ Memorial Service * U.S. Department of Labor working to aid recovery from flooding and tornadoes in the Midwest * U.S. Department of Labor announces more than $1.8 million to assist dislocated Wisconsin workers * U.S. Department of Labor announces $1.25 million to North Carolina to help trade-affected workers pay for health insurance * McLane Co. in Temple, Texas, agrees to pay more than $1.5 million in back wages to 570 employees following a U.S. Department of Labor investigation * U.S. Department of Labor files suit against Aggregate Industries to recover more than $1 million in back wages due 302 Denver, Colorado-area workers * U.S. Department of Labor announces grant of more than $1.7 million to assist Missouri workers affected by automotive industry layoffs * U.S. Department of Labor Sues Chicago Investment Firm and Executives to Recover More Than $25 Million for Five Michigan Union Pension Plans * U.S. Department of Labor announces $8.7 million for dislocated airline workers in Hawaii, Indiana * U.S. Secretary of Labor Elaine L. Chao highlights accomplishments in reforming employee benefits system at ‘DOL Speaks’ conference For more on these articles, link to: http://www.dol.gov/_sec/laboradvocate. U.S. Labor Secretary Elaine L. Chao delivers keynote address at new Cleveland Job Corps Center open house "The new Cleveland Job Corps Center furthers our mission to provide students with education and training upon which they can build a career and a brighter future," Secretary Chao told an audience of students, teachers and dignitaries. "The center's academic and training programs are rigorous, effective, and accredited so students' skills are recognized by the state's top employers when they graduate." Dr. Esther Johnson, Job Corps national director added, "The $35 million Cleveland Job Corps Center includes nine buildings on a 25 acre campus, which has the capacity to serve about 440 students who will receive education and training in fields such as health care, construction, computers and tax preparation." The center is located at 13421 Coit Road in Cleveland, Ohio. Job Corps is the nation's largest and oldest federally funded job training and education program for "at promise" youth ages 16 through 24. At 122 centers nationwide, the program trains approximately 62,000 youth each year in more than 100 career areas. For more information about Job Corps, call (800) 733-JOBS or visit http://jobcorps.dol.gov. Consumer Price Index +0.3% Mar 2008 Unemployment Rate 5.0% Apr 2008 Payroll Employment -20,000(p) Apr 2008 Average Hourly Earnings +$0.01(p)
..."By eliminating tariffs on American-made goods and services exported to Colombia, the Colombia FTA will help create more jobs for America’s workers. Forty percent of U.S. workers are employed by firms that engage directly in the international trade of goods. Export related jobs pay 13-18 percent more than non-export related jobs. Forestalling the vote on the Colombia FTA deprives U.S. workers of these good paying opportunities. In the current economic climate where exports are increasingly responsible for job creation in our country the Colombia FTA is important to the competitiveness of the American economy. The Colombian labor leaders in attendance were Cesar Augusto Velazco, General Secretary of Untracun Cundinamarca Labor Union which represents the flower, construction and footwear sectors of the workforce; Gerardo Sanchez Zapata, General Secretary Antioquia Region of the Textiles Rionegro-Coltejer Labor Union which represents the textile and apparel sectors of the workforce; Eufracio Ruiz Santiago, National Executive Committee Member of Sintra San Carlos Tulua which represents municipal employees; Oswaldo Cuadrado, Senior Advisor and ex-President Central Unitaria de Trabajadores-CUT and ex-Vice President Sintrainagro Public Labor Unions; Carlos Sierra, General Secretary of Centro de Pensamiento Primero de Colombia; and Gustavo Palacio, Union Organizer for mining sector employees." April 11, 2008 The Importance of the Colombia FTA Andrew Roth Full article Andrew Roth Club For Growth Economist Dan Drezner shares his thoughts on the Colombia FTA by responding to blog posts written by Kevin Drum and Matthew Yglesias. Drezner is one of the leading pros on trade economics, and I, of course, agree with him. However, I'd add one more point. The virtue of economic liberty is missing from the Colombia trade debate specifically, and political discourse in general. Free trade agreements are a good idea for several reasons, one of which is because they reaffirm our natural right to trade freely with foreigners who want to do business with us. American consumers should have the right to buy Colombian flowers and coffee without government interference. Why aren't people pointing this out more often? It's just like the term, "ownership society." Larry Kudlow recently pointed out -- correctly -- that nobody is using that term anymore. Sure, buzz phrases come and go, so I'm fine with "ownership society" getting discarded, but only if it is replaced with something with the same meaning. I don't think it's a freak accident that its lack of use coincides with the GOP's brand losing its integrity. It's time to start talking about economic liberty...now. In a time when free trade is getting pulverized by protectionists, we need to talk about the freedom that comes with trade liberalization. We need to talk about how the benefits of free trade are immutable. We need to talk about how everyone benefits over the long run when the barriers to trade are at their lowest. Also, I disagree with Drezner when he said, "let's face it, there is going to be zero momentum towards further liberalization beginning in 2009 regardless of whether this FTA is passed." I don't blame Drezner for having a "glass half-empty" attitude on trade, but I think he'll be proven wrong if McCain, one of the strongest free traders in Congress, is elected president. Nonfarm payroll employment rose by 166,000 in October, and the unemployment rate was unchanged at 4.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job gains occurred in professional and business services, health care, and leisure and hospitality. Manufacturing employment continued to decline, and construction employment was little changed. Unemployment (Household Survey Data) The number of unemployed persons, at 7.2 million, was essentially unchanged in October, and the unemployment rate held at 4.7 percent. A year earlier, the number of unemployed persons was 6.7 million, and the jobless rate was 4.4 percent. In October, unemployment rates for the major worker groups--adult men (4.3 percent), adult women (4.1 percent), teenagers (15.6 percent), whites (4.2 percent), blacks (8.5 percent), and Hispanics (5.6 percent)--showed little or no change. The unemployment rate for Asians was 3.7 percent, not seasonallyadjusted. Total Employment and the Labor Force (Household Survey Data) Total employment, at 146.0 million, was about unchanged in October. The employment-population ratio--62.7 percent--was little changed in October but was down from its recent peak of 63.4 percent in December. The civilian labor force, at 153.3 million in October, and the labor force participation rate, at65.9 percent, were essentially unchanged from September. Fifty straight months of Job Growth. THE EMPLOYMENT SITUATION: SEPTEMBER 2007 Employment rose in September, and the unemployment rate was essentially unchanged at 4.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Nonfarm payroll employment rose by 110,000. Revised figures were revised for July and August. Increases were 93,000 in July and 89,000. In September, health care, food services, and professional and technical services continued to add jobs, while employment trended down in manufacturing and construction. Average hourly earnings rose by 7 cents, or 0.4 percent. Unemployment (Household Survey Data) The number of unemployed persons (7.2 million) and the unemployment rate (4.7 percent) were essentially unchanged in September. A year earlier, the number ofunemployed persons was 6.9 million and the jobless rate was 4.6 percent. WASHINGTON -- Federal Reserve Chairman Ben Bernanke suggested the Fed won't be convinced that the risk of higher inflation has subsided, until the unemployment rate rises and businesses are operating farther from full capacity. Interestingly what would normally be very good news-full capacity operations and a low unemployment rate are seen as worries to those focusing on possible higher interest rates. The Federal Reserve's main inflation gauge, personal-consumption expenditures prices, increased at 1.9% over the 12 months ended in May. The Fed's new forecast puts inflation at between 2% and 2.25% this year. The labor market remains tight-very good news for the average worker-event though growth has slowed somewhat compared to growth in 2005 and 2006. Skilled workers are even more in demand than average workers. ### This past week we learned that job growth over the last year was far greater than previously stated. During the first week of each month the Bureau of Labor Statistics, which is within the Department of Labor, issues the jobs report, providing data on the number of new jobs, or job losses. Fortunately for the last 37 months, there have been plenty of new jobs-good jobs-created. In fact that number has turned out to be mind bogglingly higher than previously reported. The number of unreported jobs turned out to be 810,000, bringing the total over the last 2 years to more than 5 1/2 million. The disparity is caused in large part because the jobs report does not take into account those reported in the "Household Survey" which is done by telephone and takes into account small business employment, the self-employed, independent contractors and many limited liability corporations. We know how many friends, neighbors, acquaintances, start new businesses for which there are no records when the businesses are new and all red tape, filing and reporting of forms has not taken place. And what about buying and selling on eBay. The evidence is in that many of these are not taken into account in the Bureau of Labor Statistics survey. So along with this good news, wage gains have had hefty increases in the last 12 months, the stock market just went over 12,000, unemployment is lower than the average of the last 40 years, inflation is under control, and economic indicators bode very well. Let's not let the doomsdayers-mostly liberals-succeed in striking fear into every day Americans. The news is great!!
|
