Hard hitting global and local news
Following many months of gloom – and seven consecutive quarters of declining growth – the Chinese stock markets are permitting themselves a frisson of excitement after China’s official manufacturing PMI rose to a seven-month high of 50.6 in November, from 50.2 in October. The higher PMI was propelled (unfortunately, I think) by a surge in construction activities
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
The chart assumes a steady rise in labor force to the BLS 2020 projection of 164,360.
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.
Read More: Establishment Survey +146,000; Household Survey -122,000 Jobs; Unemployment 7.7% as Labor Force Shrinks by 350,000; No Sandy Effect
Continue Reading: Small Business Owners’ Hiring Intent Plunges to 2008 Lows; Don’t Blame Sandy or Fiscal Cliff
Links Don’t Survive the "Collapse" – Prevent It December 5, 2012 (LocalOrg) – Cuba, Thailand, New York City. All three have faced either economic or natural disasters
A modest carbon tax has modest carbon reduction results Been meaning to highlight Brad Plumer’s post on a paper about the effect of a carbon tax on emissions (full paper here ). Â A tax of $20/ton, with an inflation-adjusted 4% annual increase, knocks emissions down 14% by 2020, and a larger number in 2050 if you believe economic projections that far in the future
Read the article: US Fiscal Cliff Blame Game Between Geithner, Boehner; UK Deficit Cut Taking Longer Than Planned