Hard hitting global and local news
Original post: Message to 5.7 Million Truck Drivers "No Drivers Needed" Your Job is About to Vanish; Time Marches On,…
More: Job Growth Trends by Type of Job and Part-Time Status
Weakest rise in service sector activity in nine months Services employment and new orders broadly stagnate Ninth successive month of higher input prices in the service sector Summary The latest data for Japanese service providers indicated that the expansion evident in previous surveys continued in July, but the pace slowed. Business activity increased only marginally, whilst new business and employment stagnated, in each case ending eight-month sequences of growth. The headline seasonally adjusted Business Activity Index fell in July to 50.6 from 52.1 in June
PEW Social Trends research shows a Record 21.6 Million Young Adults Live in Their Parents’ Home Here are some clips from the fascinating PEW study. In 2012, 36% of the nation’s young adults ages 18 to 31 the so-called Millennial generation—were living in their parents’ home, according to a new Pew Research Center analysis of U.S
Magazine Ad Revenues Plunge; Google Collects Half of Mobile Internet Ads; Cannibalization of Ad Market Is the advertising pie growing, shrinking, or simply being redistributed? Let’s start with a look at PEW Center research that shows News magazines hit by big drop in ad pages
Read this article: An Analysis of July Employment Numbers 1955 to 2013; Full-Time Employment Down Over 5 Million Since 2007
I am normally critical of IMF forecasts, but their baseline unemployment projection for Spain of 25% or more with no more than .6% annual growth through 2017 seems reasonable. The pessimistic scenario is a toxic deleveraging downward spiral that continues right now. The optimistic scenario assumes 2% growth, but that scenario does not start until 2018, and only if labor reforms in Spain and Europe take place
Initial Reaction The establishment survey showed a gain of 162,000 jobs. The previous two months were revised lower
• XKeyscore gives ‘widest-reaching’ collection of online data• NSA analysts require no prior authorization for searches• Sweeps up emails, social media activity and browsing history A top secret National Security Agency program allows analysts to search with no prior authorization through vast databases containing emails, online chats and the browsing histories of millions of individuals, according to documents provided by whistleblower Edward Snowden. The NSA boasts in training materials that the program, called XKeyscore, is its "widest-reaching" system for developing intelligence from the internet. XKeyscore, the documents boast, is the NSA’s "widest reaching" system developing intelligence from computer networks – what the agency calls Digital Network Intelligence (DNI).
India Housing Bubble Still Expanding This is a guest post from by Deepak Shenoy, an economic blogger at Capital Mind in India.