Hard hitting global and local news
Small Business Owners Cut Capital Expenditures, Plan to Cut Even More According to the latest Gallup survey, Small-Business Owners Pull Back Capital Spending Plans . Moreover, net capital spending by small businesses declined over the last year as well
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Click on the above link to see an interactive map that lets you select the rate of job growth up to January of 2020.
In light of Carney’s " radical action " statements, please consider Bank of Canada warns of low-rate risk . The Bank of Canada says low-interest policies that it and other central banks have put in place are adding another layer of risk to the already stressed global financial system
Please consider the Detroit News article Chrysler reinstates 13 workers fired for drinking on job . Chrysler Group LLC says it was forced to reinstate 13 workers who were fired from its Jefferson North Assembly Plant two years ago after being filmed by a local television station drinking and smoking what the network suggested was a controlled substance before and during work. "The workers followed the grievance procedure process outlined in the collective bargaining agreement between Chrysler and the United Auto Workers.
Bank of England Warns of Global Currency Wars By the time central banks warn about something, the practice has likely been going on for years. Today’s case in point is BoE’s King warns of growing currency competition The head of the Bank of England warned on Monday that too many countries were trying to weaken their currencies to offset the impact of the slow global economy and the trend could grow next year. "You can see, month by month, the addition to the number of countries who feel that active exchange rate management, always to push their exchange rate down, is growing," Mervyn King said in a speech
Gallup Reports Upper-Income Spending Worst November Ever With the generally upbeat spending reports on black Friday and cyber-Monday, Gallup paints a different point of view in its most recent poll that shows U.S. Consumer Spending Holds Steady, Consistent With 2011 Americans’ self-reported daily spending averaged $73 in November, essentially on par with September and October.
See the article here: Mine-Sniffing Dolphins Lose Their Jobs to Robots; Sea Lion Jobs Safe for Now
Right-to-Work provisions are at long last coming to Michigan. Reuters reports ‘right-to-work’ law exempts existing union contracts Right-to-Work could be approved within a week Stunning blow to organized labor Immediate impact blunted by "grandfather" clause Opponents vow to overturn new law The proposed Michigan "right-to-work" law will not apply to existing union contracts, a leading sponsor of the proposal said on Friday, which may blunt its immediate impact on the huge auto industry in the state.
For the rest of the trend, consider my comment in today’s job report: Establishment Survey +146,000; Household Survey -122,000 Jobs; Unemployment 7.7% as Labor Force Shrinks by 350,000 In the last year, the civilian noninstitutional population rose by 3,733,000.