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Low pay and zero-hours contracts rise dramatically, figures show | UK news | The Observer
Low pay and zero-hours contracts rise dramatically, figures show | UK news | The Observer.
New figures have revealed the dramatic spread of low-paid, insecure and casual work across the British economy since the financial crash of 2008.
In that year, one in 20 men and one in 16 women worked in the casualised labour market. Now, one in 12 of both men and women are in precarious employment, which includes zero-hours contracts (ZHCs), agency work, variable hours and fixed-term contracts, according to new TUC data.
According to the analysis, in 2008 there were 655,000 men in the casualised labour market. That number has risen by 61.8% to 1.06 million. The casualised female workforce has increased by 35.6%, from 795,000 in 2008 to 1.08 million in 2014.
The TUC is also publishing research showing that since 2008, only one in 40 new jobs has been full-time. Over the same period, 60% of net jobs added have been self-employed and 36% have been part-time.
…click on the above link to read the rest of the article…
Ten Reasons Why a Severe Drop in Oil Prices is a Problem | Our Finite World
Ten Reasons Why a Severe Drop in Oil Prices is a Problem | Our Finite World.
Not long ago, I wrote Ten Reasons Why High Oil Prices are a Problem. If high oil prices can be a problem, how can low oil prices also be a problem? In particular, how can the steep drop in oil prices we have recently been experiencing also be a problem?
Let me explain some of the issues:
Issue 1. If the price of oil is too low, it will simply be left in the ground.
The world badly needs oil for many purposes: to power its cars, to plant it fields, to operate its oil-powered irrigation pumps, and to act as a raw material for making many kinds of products, including medicines and fabrics.
If the price of oil is too low, it will be left in the ground. With low oil prices, production may drop off rapidly. High price encourages more production and more substitutes; low price leads to a whole series of secondary effects (debt defaults resulting from deflation, job loss, collapse of oil exporters, loss of letters of credit needed for exports, bank failures) that indirectly lead to a much quicker decline in oil production.
John Williams’ Take On The October Unemployment Report: “The Economy Remains In Terrible Shape” | Zero Hedge
When it comes to inflation data, there are two parallel sources: the BLS, and ShadowStats’ John Williams, who continues to plough through the underlying “data” using pre-pre-pre-revision protocols, and every month reveals a parallel universe in which something shocking is revealed: the truth. Here is his take on the October “weaker but really stronger than expected” jobs numbers. Here is what really happened.
From ShadowStats
Never Recovered, the Economy Remains in Terrible Shape. The large number of opening headlines in today’s (November 9th) missive reflects various stories, ranging from twisted unemployment data, to an election dominated by underlying economic reality, and to headline 2014 financial results on the federal government’s operations that should raise some troubling questions in the markets. The general outlook is unchanged
Twisted Unemployment Numbers. Headline October 2014 unemployment reporting, in particular, was skewed heavily by warped seasonal-adjustment factors that do account properly for last year’s government shutdown. When the U.S. government closed in October 2013, the shutdown encompassed the Bureau of Labor Statistics (BLS) base-period for determining the unemployment and employment detail in the household survey, as well as for determining employment in the payroll survey. The BLS was unable to determine fully the impact of the government shutdown on the monthly October labor data.
…click on the above link to read the rest of the article…
French Unemployed Hits Record High, Hollande Demands EU Budget “Must Be Adapted” | Zero Hedge
French Unemployed Hits Record High, Hollande Demands EU Budget “Must Be Adapted” | Zero Hedge.
France’s President Francois Hollande states confidently that “everyone should respeoct treaties,” then ‘Junckers’ it with this stunningly hypocritical bullshit, “budget rules must be adapted” to support growth and France “has done what it has to do” on its deficit… one glance at the following chart suggests that Hollande has done nothing and has been enabled by Draghi… What a farce!!
…click on the link above to read the rest of the article…
