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Tuesday, 12 January

15:05

US labour market appears to be marking time Bill Mitchell – billy blog

Last week (December 8, 2015), the US Bureau of Labor Statistics published the latest – Employment Situation – December 2015 – and the data shows that “Total nonfarm payroll employment rose by 292,000 in December, and the unemployment rate was unchanged at 5.0 percent”. The BLS noted that they had revised their estimates of the change in total non-farm payroll employment for October up by 9000, and the estimates for the change in November up 41,000. In other words, “employment gains in October and November combined worth 50,000 higher than previously reported”. The BLS also note that “over the past 3 months, job gains of averaged 284,000 per month.” This information was widely interpreted as a strong result with the employment growth spread across several industries and services. Construction employment was also strong for the third consecutive month. However, other indicators suggest a more static picture. Broad measures of labour underutilisation indicate no significant improvement in the latter part of 2015 in the US labour market. Further average hourly earnings were static and of not risen as strongly as in previous recoveries. The participation rate was unchanged at 62.4 per cent and remains well below previous peaks. As I have shown before, despite the robust employment growth, there is a bias towards jobs at the lower end of the pay distribution (see blog – US jobs recovery biased towards low-pay jobs.

For those who are confused about the difference between the payroll (establishment) data and the household survey data you should read this blog – US labour market is in a deplorable state – where I explain the differences in detail.

Focusing on the Household Labour Forc...

13:32

From tall trees to many green shoots: the evolution of the green bond market continues Renew Economy

Another successful year for the green bond market with 2015 issuance hitting $41.8bn making it the biggest year ever for green bonds.

12:42

Ford steps up its game on smart mobility and electric vehicles Renew Economy

Ford may not be the first automaker that comes to mind when thinking about cutting-edge transportation technology. But now that's starting to change.

09:07

World Bank says TPP will barely benefit Australia AFTINET

January 12, 2016:  Peter Martin reports in the Sydney Morning Herald that Australia stands to gain almost nothing from the TPP trade deal with 11 other nations including United States, says an economic analysis  from the World Bank, The TPP would boost Australia's economy by just 0.7 per cent by the year 2030, and annually by less than one half of one 10th of 1 per cent. 

Sunday, 10 January

01:35

Asia’s Stock Winners and Losers The Diplomat » Pacific Money

It’s been a rough start to the year. What lies ahead?

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