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See the original post: CBO Report Says Minimum-Wage Hike Will Cost 500,000+ Jobs; Common Sense vs. Research Papers
Via translation from El Pais, Members of European Parliament Accuse Troika of Aggravating Unemployment and Poverty in Rescued Countries "They could have acted as surgeons, cutting superfluous. Instead they acted like butchers with an ax," says MEP Alejandro Cercas in reference to the policies that the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF), the troika, that have been implemented in Greece, Ireland, Portugal and Cyprus, the four Eurozone countries that were forced to request a bailout. The report before the Committee on Employment and Social Affairs of the European Parliament adopted on Thursday morning does not use such harsh words, but blames the three agencies-known as the troika for policies that have contributed to the deterioration of the welfare levels in the four countries
Read this article: Nonfarm Payrolls +113,000, Median Bloomberg Estimate 180,000; Huge March 2013 Employment Revision
ISM Report Snips PMI Manufacturing expanded in January as the PMI® registered 51.3 percent, a decrease of 5.2 percentage points when compared to December’s seasonally adjusted reading of 56.5 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
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PMI rises to 11 – month high, indicating solid improvement in business conditions Output supported by strong increase in new orders Employment growth quickens to nine – month high Input price pressures intensifies Summary Business conditions in the U.S. manufacturing sector improved at the fastest rate since January, according to the final December Markit U.S. Manufacturing Purchasing Managers’ Indexâ„¢ (PMIâ„¢).
Follow this link: Economic Illiterate Proposal: "Inflation Creates Jobs"; Inflation Economics 101
Flash France Composite Output Index falls to 47.0 (48.0 in November), 7-month low Flash France Services Activity Index drops to 47.4 (48.0 in November), 6-month low Flash France Manufacturing Output Index slips to 45.3 (48.0 in November), 7-month low Flash France Manufacturing PMI falls to 47.1 (48.4 in November), 7-month low Both the manufacturing and service sectors signalled sharper reductions in output than in November. Services activity decreased for the second month running, and at the fastest pace since June. Meanwhile, manufacturers posted a marked decline in production, extending the current sequence of contraction to five months
More: Covered Employment Update: Employment vs. Federal Spending
For further discussion of income distribution, please see What’s "Really" Behind Gross Inequalities In Income Distribution? BLS Birth-Death Model Black Box The BLS Birth/Death Model is an estimation by the BLS as to how many jobs the economy created that were not picked up in the payroll survey