By Steve Eggleston

Yesterday, the Bureau of Labor Statistics released the August jobs report, and the news was not good. The seasonally-adjusted 144,000 non-farm jobs added, with 134,000 in the private sector, broke the 8-month streak of at least 200,000 jobs added per month, and was unexpectedly worse than the expert consensus of 220,000-230,000 jobs added. The prior two months’ worth of jobs gains were revised down by a net 28,000.

Meanwhile, even though the unemployment rate fell by 0.1 percentage points to 6.1%, that was due almost exclusively to more people departing the workforce. Only 16,000 more people were employed on a seasonally-adjusted basis in August, while the labor force declined by 64,000. That drove the seasonally-adjusted labor force participation rate back down to its multi-generational low of 62.8%, a level that, prior to October 2013 (and again in December 2013, April 2014, May 2014 and June 2014), was last seen in March 1978. The seasonally-adjusted employment-population ratio remained stuck at 59.0% for the third consecutive month, a level not seen between February 1984 and August 2009.

As usual, the deeper one digs into the numbers, the worse the news gets. Once again, there is a disconnect between the estabilshment survey, from which the jobs numbers come and the household survey, from which the unemployment numbers come. On a seasonally-adjusted basis, while there were 354,000 non-farm jobs added since June per the establishment survey, there were 168,000 fewer people working in non-farm jobs in August than in June per the household survey. That continues a multi-year trend – while there were 2,512,000 non-farm jobs added on a not-seasonally-adjusted basis since August 2013, there were only 2,064,000 more people employed in non-farm jobs on a not-seasonally-adjusted.

Staying with the non-seasonally-adjusted numbers, the 63.0% labor-force participation rate is the weakest August since August 1977’s 62.7%. The 59.1% employment-population ratio is, other than August 1982’s 58.7%, the weakest August between August 1977’s 59.0% and August 2010’s 58.8%. In fact, a larger percentage of the population was employed in August 1969 (59.2%) than was employed last month.

One more item – had each 5-year age group participated in the labor force at the same percentage as that group did in August 2008 (with the youth participating even more to cover the fact that the employed portion of the 60-64, 65-69 and 75+ year old population is larger than the entire population of those age groups back in 2008), the unemployment rate would have been 8.8%, not 6.1%.

Revisions/extensions – Related to this, the Los Angeles Times has a story on the booming street vendor phenomenon that has grown well beyond its traditional recent immigrant base to include, among others, laid-off professionals. While the Times has a short memory and didn’t make the connection, those with a sense of history might note the similarities to the last “Great” economic downturn, the Great Depression.

With apologies to Carter G. Woodson. This essay was originally posted as a Facebook note on June 24, 2010. SinceBaldilocks mini it’s getting some recent attention over there, I figured that it could use some attention here.

by baldilocks

Reading as a pair of acquaintances had a back-and-forth about American and Russian literature got me to thinking about how we Americans—especially those of us who attended urban inner-city public schools–have been short-changed with respect to our formal primary and secondary education. From that train of thought, I began to muse on how many of us black Protestant Christians have been cheated in the same manner. Continue reading “The Mis-Education of the American Christian Negro”

I’ll be at the Natural Discount Shop 614 N Main St Rt 12. Leominster, MA 01453 Saturday at Noon for DaTechguy on DaRadio this week.

I’ll be giving away Big Finish Doctor Who CD’s Conservative Books, Grille Bucks good at Happy Jacks Restaurant in Leominster or The South Side Grille & Margarita Factory in Gardner.

We’ll be setting up around 11 AM and after the Broadcast we’ll be doing a podcast so come on down and say hi and get some free stuff.

You can listen live here or call 888-9-fedora

And of course we are played on FTR Radio and the 405 media as well

You can join the conversation at 888-9-fedora.

And don’t forget for the next two weeks we’ll be live at the Natural Discount Shop Rte 12 Leominster Mass broadcasting live!

Hope to see you there. And don’t forget if you can’t make it this week we’ll be there again next week too.

For 35 days stores like Stop & Shop, Hannafords and Shaws reaped the windfall from the Market Basket Work Action.

I wondered during that time if they would take the chance to drop prices to compete in the hopes of keeping these customers even if Arthur T won.

I shopped at Hannafords the afternoon a few hours before the sale was announced, it seemed to me they didn’t bother.

And now a week into the return of Market Basket comes the reckoning:

Until this summer, Casey Kett never thought much about Market Basket. Mostly, he remembers his brother nagging him to pick up inexpensive beer at the store in Portsmouth on his way to their parents’ summer home in Maine.

Then, like thousands of consumers around New England, Kett became intrigued by the unprecedented protest Market Basket employees staged to get Arthur T. Demoulas reinstated as head of the grocery empire.

And so on Friday, just two days after Demoulas struck a deal to buy out his cousin’s share of the company, Kett finally stopped in at the Portsmouth store — becoming one of an untold number of new customers drawn to Market Basket by the recent barrage of news coverage.

If somehow you never heard of Market Basket before you damn well have heard of them now, and more importantly these new shoppers like Casey are catching the workforce at their absolute best, flush from their victory and still happy every single day they are at work no matter what the duty.

So right now 35 days after Arthur S. Demoulas & family figured they finally had finished off Arthur T and his allies not only have they lost the company but it’s has under his cousin reached cult status and rather than dumping him with a debt ridden white elephant have put him in a position to reap greater profits and rewards then they every dreamed of.  And what did they get, well they went from very rich to very very rich, in other words their own lives will hardly change at all.

It must make Arthur S Demoulas sick to his stomach.