Posted by Kendall Harmon

The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

Read it all from the front page of today's NY Times.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyConsumer/consumer spendingHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal Finance* TheologyAnthropologyEthics / Moral Theology

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Posted April 23, 2014 at 11:29 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

At a time when the still sluggish economy has sent a flood of jobless young adults back home, older people are quietly moving in with their parents at twice the rate of their younger counterparts.

For seven years through 2012, the number of Californians aged 50 to 64 who live in their parents' homes swelled 67.6% to about 194,000, according to the UCLA Center for Health Policy Research and the Insight Center for Community Economic Development.

The jump is almost exclusively the result of financial hardship caused by the recession rather than for other reasons, such as the need to care for aging parents, said Steven P. Wallace, a UCLA professor of public health who crunched the data.

Read it all.

Filed under: * Culture-WatchChildrenMarriage & FamilyMiddle Age* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* TheologyAnthropologyEthics / Moral Theology

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Posted April 23, 2014 at 5:45 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

AT A recent school careers fair, one stall stood apart. Its attendant touted a job that involves 60-hour weeks, including weekends, and pays £24,000 ($40,000) a year. Despite her unpromising pitch, the young vicar drew a crowd.

God’s work is growing more difficult. Attendance on Sundays is falling; church coffers are emptying. Yet more young Britons are choosing to be priests. In 2013 the Church of England started training 113 20-somethings—the most for two decades (although still too few to replace retirees). The number of new trainees for the Roman Catholic priesthood in England and Wales has almost doubled since 2003, with 63 starting in 2012, and their average age has fallen.

Church recruiters have fought hard for this. Plummeting numbers of budding Catholic priests in the 1990s underlined the need for a new approach, says Christopher Jamison, a senior monk. The Church of England used to favour applicants with a few years’ experience in other professions. Now it sees that “youth and vitality are huge assets”, says Liz Boughton, who works for the church.

Read it all.

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)* Christian Life / Church LifeParish MinistryMinistry of the Ordained* Culture-WatchReligion & CultureYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* International News & CommentaryEngland / UK* Religion News & CommentaryOther ChurchesRoman Catholic

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Posted April 23, 2014 at 5:16 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The recovery from the recession has been nasty, brutish and long. It also is shaping up as one of the most enduring.

The National Bureau of Economic Research, the semiofficial arbiter of business cycles, judges that the U.S. economy began expanding again in June 2009, just over 58 months ago. That means the current stretch of growth, in terms of duration, is poised to drift past the average for post-World War II recoveries.

Yet after almost five years, the recovery is proving to be one of the most lackluster in modern times. The nation's 6.7% jobless rate is the highest on record at this stage of recent expansions. Gross domestic product has grown 1.8% a year on average since the recession, half the pace of the previous three expansions.

Read it all.


Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* TheologyEthics / Moral Theology

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Posted April 21, 2014 at 2:44 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

CareerCast is out with their annual ranking of the 10 best and 10 worst jobs for 2014, and let's just say that math and science guys everywhere are about to high-five.

Nine out of 10 of the best jobs fell into the STEM career category (science, technology, engineering and math), with the "numbers guys," in particular, locking in 3 of the top 4 spots.

"This absolutely verifies the importance of STEM careers," said Tony Lee, publisher of CareerCast.com and JobsRated.com.

Read it all.

Filed under: * Culture-WatchEducationScience & TechnologyYoung Adults* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* International News & CommentaryAmerica/U.S.A.* TheologyAnthropologyEthics / Moral Theology

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Posted April 15, 2014 at 4:28 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

There was a time when hitting a fresh cycle low in initial jobless claims was something to cheer. That doesn’t seem like the appropriate response this cycle. The labor backdrop at present is punctuated not by the fact that layoffs are diminishing, but rather by the sheer lack of hiring. We have gone through this calculus ad nausea but it bears repeating. The pace of hiring (as measured by the hiring rate, which is hiring relative to employment) at present is not just lower than the previous cycle low, it also shows a stunning lack of momentum. Make no mistake, the level of hiring is trending in the right direction, but at best the pace is quite modest. Part of the problem is the difficulty filling job openings…while the hiring rate remains weak by any standard, the ratio of hires-to-job openings continues to print cycle lows and remains at levels that are more consistent with a very tight labor backdrop
--RBC Capital Market’s Tom Porcelli as quoted this afternoon by Barrons

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyAnthropologyEthics / Moral Theology

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Posted April 10, 2014 at 3:06 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Travis Wiseman and Andrew Young, the two economists who wrote this study, found that the more Christians there are in a state, the lower the level of entrepreneurship for that state.

For some, this may come as a surprise. Yet many of us have come to the realization that the Protestant work ethic has all but disappeared.
- See more at: http://blog.tifwe.org/the-atheist-work-ethic/#sthash.QilmokYV.dpuf

Read it all.

Filed under: * Culture-WatchHistoryReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* Religion News & CommentaryOther FaithsAtheism* TheologyEthics / Moral Theology

1 Comments
Posted April 9, 2014 at 3:26 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

When LaTisha Styles graduated from Kennesaw State University in Georgia in 2006 she had $35,000 of student debt. This obligation would have been easy to discharge if her Spanish degree had helped her land a well-paid job. But there is no shortage of Spanish-speakers in a nation that borders Latin America. So Ms Styles found herself working in a clothes shop and a fast-food restaurant for no more than $11 an hour.

Frustrated, she took the gutsy decision to go back to the same college and study something more pragmatic. She majored in finance, and now has a good job at an investment consulting firm. Her debt has swollen to $65,000, but she will have little trouble paying it off.

As Ms Styles’s story shows, there is no simple answer to the question “Is college worth it?” Some degrees pay for themselves; others don’t. American schoolkids pondering whether to take on huge student loans are constantly told that college is the gateway to the middle class. The truth is more nuanced, as Barack Obama hinted when he said in January that “folks can make a lot more” by learning a trade “than they might with an art history degree”. An angry art history professor forced him to apologise, but he was right.

Read it all.

Filed under: * Culture-WatchChildrenEducationMarriage & FamilyYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted April 9, 2014 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A big puzzle looms over the U.S. economy: Friday's jobs report tells us that the unemployment rate has fallen to 6.7% from a peak of 10% at the height of the Great Recession. But at the same time, only 63.2% of Americans 16 or older are participating in the labor force, which, while up a bit in March, is down substantially since 2000. As recently as the late 1990s, the U.S. was a nation in which employment, job creation and labor force participation went hand in hand. That is no longer the case.

What's going on? Think of the labor market as a spring bash you've been throwing with great success for many years. You've sent out the invitations again, but this time the response is much less enthusiastic than at the same point in previous years.

One possibility is that you just need to beat the bushes more, using reminders of past fun as "stimulus" to get people's attention. Another possibility is that interest has shifted away from your big party to other activities.

Economists are sorting out which of these scenarios best explains the slack numbers on labor-force participation....

Read it all.

Filed under: * Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPolitics in General* TheologyAnthropologyEthics / Moral Theology

4 Comments
Posted April 6, 2014 at 2:36 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Ah, ah, ah--you need to guess before you look. Check it out from Forbes.

Filed under: * Culture-WatchYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe U.S. GovernmentCensus/Census DataPolitics in GeneralCity Government

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Posted April 5, 2014 at 7:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Brendan Eich, the well-known techie who has gotten swept up in a controversy about his support of California’s anti-gay marriage law Proposition 8, is resigning as CEO of for-profit Mozilla Corporation and also from the board of the nonprofit foundation which wholly owns it.

Mozilla confirmed the change in a blog post.

“Mozilla prides itself on being held to a different standard and, this past week, we didn’t live up to it. We know why people are hurt and angry, and they are right: it’s because we haven’t stayed true to ourselves,” read the post, in part. “We didn’t act like you’d expect Mozilla to act. We didn’t move fast enough to engage with people once the controversy started. We’re sorry. We must do better.”

Read it all. There is much more here from Reihan Salam and there from Andrew Sullivan.

Filed under: * Culture-WatchMarriage & FamilyPsychologyReligion & CultureScience & Technology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyTheology: Scripture

4 Comments
Posted April 3, 2014 at 4:08 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Gallup Business Journal: Why has psychological injury become such a concern in the workplace?

Damian Byers, Ph.D.: Health and safety in the workplace is often looked at from a cost point of view. Psychological injury has become a well-recognized category of injury, and the rate of increase is skyrocketing. So the people who are most vociferous about managing it tend to be the finance people. And because of the risk exposure associated with any kind of injury, there's often interest from [corporate] boards as well. But they're usually interested in aggregated macro lag indicators, such as lost-time injury frequency rate or other kinds of overall incident rate indicators, not individual cases.

The problem is that boards and finance people are a long way from the day-to-day work of a line manager. Line managers don't see the cost of psychological injury, but they're accountable for it because they're accountable for team performance. And because the metrics of injury are macro lag indicators, they don't guide decisions or change behaviors for anybody. Lagging indicators don't tell people what they need to do.

What causes psychological injuries?

Dr. Byers: It's almost always [the result of] a failure of management practice and process, particularly a breakdown in the management relationship. In most of the cases that I have analyzed in the organizations that I have worked in, we're talking about bad manager-worker relationships and a well-established, unproductive, poisonous dynamic within a team. These dynamics are the result of poor people management practices and often poor people management tools and policies. The remedy there is well and truly in the hands of senior line managers.

Read it all.

Filed under: * Culture-WatchGlobalizationHealth & MedicinePsychologyStress* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted April 2, 2014 at 5:45 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Waking at 4.30am every day she says her prayers before getting ready to make the trip from the flat she shares with her sister’s family in Walworth Road, south London, to get to work by 7am. The best bit of her job is the pay. She earns the so-called living wage, which in London is set at £8.80 an hour. The boost in her pay – which was previously the adult minimum wage rate of £6.31 – has made her “lighter” and “happy inside”, less stressed over financial struggles.

A secondary school teacher with a degree in social and political science as well as a masters in education, she came to Britain in 2005 from Nigeria to improve her living standards. She has always been resourceful. In Nigeria, as well as teaching, she ran a catering company and imported fashion accessories from Europe.

Her first few months in London were spent finding her feet in a city she found unwelcoming. It is the social life she misses: in Nigeria “we live like brothers and sisters”, she says. There she could rely on neighbours to watch her children; here she has never even met the person who lives next door. The local Anglican church has proved her social salvation. “That is where my happiness lies. When I go to church, it’s like I’m back in Africa.”

Read it all.

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)* Christian Life / Church LifeParish MinistrySpirituality/Prayer* Culture-WatchUrban/City Life and Issues* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* International News & CommentaryAfricaNigeriaEngland / UK

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Posted April 1, 2014 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Some employers increasingly are viewing autism as an asset and not a deficiency in the workplace.

Germany-based software company SAP has been actively seeking people with autism for jobs, not because of charitable outreach but because it believes features of autism may make some individuals better at certain jobs than those without autism.

It's a worthy initiative, according to disability experts, since 85% of adults with autism are estimated to be unemployed.

Piloted in Germany, India and Ireland, the program is also launching in four North American offices, according to an announcement Thursday.

Read it all.

Filed under: * Culture-WatchHealth & MedicinePsychology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted March 30, 2014 at 4:30 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

None of us works anything like as hard as we think we do. According to studies in the US and elsewhere, people routinely overestimate their working hours by at least 10 per cent – when you compare how hard people say they work to diary entries, the two don’t tally.

In itself that isn’t terribly surprising. We are all famously useless at estimating how long we spend doing anything. Time-use studies show we wildly overestimate the amount of housework and underestimate sleep – ask an insomniac how much she slept last night, and she’ll say two hours, when it was actually closer to five.

What is unusual about the work estimates is that the longer people actually work the more they overestimate it. Those who work 37 hours estimate that they work 40. But people who work 50 hours bump up the estimate by a whacking 25 hours and claim to work 75.

Read it all.

Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropology

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Posted March 30, 2014 at 4:01 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Local people facing homelessness soon will be able to earn money by selling a news magazine with content about challenges they face and various social justice issues.

Founder Paul Gangarosa put up his own money and time to create The Lowcountry Herald, a monthly news magazine whose first 16-page issue should be published this week.

"I saw through the Great Recession how easy it is for anyone to become homeless," says Gangarosa, an adjunct professor at the College of Charleston who teaches public health. He also saw the concept of so-called street newspapers.

Read it all.

Filed under: * Culture-WatchMediaPovertyUrban/City Life and Issues* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyPastoral Theology

1 Comments
Posted March 30, 2014 at 2:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Demographers tell us that Millennials are young adults aged 18 to 33. They’re often the ones you see sipping a latte at Starbucks, checking their Twitter feeds, or texting their friends.

According to a Pew Research report entitled “Millennials in Adulthood,” they are incredibly well connected to friends, family, and colleagues via all the latest digital platforms. But as University of Virginia sociologist W. Bradford Wilcox says, when it comes to “the core human institutions that have sustained the American experiment — work, marriage, and civil society,” the Millennials’ ties “are worryingly weak.”

Let’s take them in order. Concerning work, less than half of young people aged 18 to 29 are employed full time, and the numbers continue to fall. Wilcox says, “Work affords most Americans an important sense of dignity and meaning—the psychological boost provided by what American Enterprise Institute president Arthur Brooks calls a sense of ‘earned success.’ ”

Read it all.

Filed under: * Christian Life / Church LifeParish MinistryEvangelism and Church Growth* Culture-WatchMarriage & FamilyYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyEthics / Moral Theology

1 Comments
Posted March 29, 2014 at 9:40 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

South Carolina's unemployment rate plummeted to 5.7 percent in February from 6.4 percent in January, the largest one-month decrease since the state starting tracking jobless numbers in 1976, the Department of Employment and Workforce said Friday.

It was the ninth consecutive month the figure has declined.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in GeneralState Government* South Carolina* TheologyAnthropologyEthics / Moral Theology

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Posted March 28, 2014 at 4:31 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The US is losing its edge as an employment powerhouse, where most people have a job or are looking for one, after its labour participation rate fell behind the UK’s.

The diverging trends between the US and the UK come as central bankers in both countries try to understand the dynamics in their respective labour markets, a critical factor in how long they should keep interest rates at record lows.

The labour force participation rate – the proportion of adults who are either working or looking for work – started to decline in the US in 2000 and has plunged since 2008 from 66 to 63 per cent.

Read it all (if necessary another link Read it all).

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* International News & CommentaryAmerica/U.S.A.* TheologyAnthropologyEthics / Moral Theology

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Posted March 25, 2014 at 5:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Want to be happy in your work? Go to theological college and avoid a career pulling pints. That would seem to be one conclusion to draw from a new study into wellbeing and public policy, which found that employees reporting greatest job satisfaction were vicars, while publicans – who on average earn almost £5,000 a year more – were the least happy in their work.

Overall job satisfaction, in fact, has little to do with salary, according to the figures drawn from Office for National Statistics data. While company chief executives, earning £117,700 a year on average, were found to be the second happiest employees (mean clergy income by contrast is a mere £20,568), company secretaries, fitness instructors and school secretaries, all earning less than £19,000 a year, emerged among the top 20 most satisfying careers.

Read it all.

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)* Christian Life / Church LifeParish MinistryMinistry of the Ordained* Culture-WatchPsychologyReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* International News & CommentaryEngland / UK

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Posted March 23, 2014 at 3:26 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

America’s long-term jobless face huge obstacles in returning to steady full-time employment, with just 11 per cent succeeding over the course of any given year, according to new research that raises alarm bells about structural problems in the US labour market.

The study by Alan Krueger, a Princeton University economist who served as a top economic adviser to Barack Obama between 2011 and 2013, shows that even in good times and in healthy states the long-term jobless are “at the margins” of the labour market with little hope of regaining their footing.

A big spike in long-term unemployment – defined as joblessness extending beyond 26 weeks – has been one of the defining features of the US recession and its aftermath. There were 3.8m long-term unemployed in February 2014, according to the latest labour department data, more than double the pre-financial crisis level of 1.9m in August 2008. The share of the jobless who have been out of work for more than six months has nearly doubled over that timeframe, from 19.8 per cent to 37 per cent.

Read it all (if necessary another link may be found there).

Update: There is more from the Washington post there.

Filed under: * Culture-WatchGlobalizationHealth & MedicineHistoryPsychologyScience & Technology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* TheologyAnthropologyEthics / Moral Theology

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Posted March 21, 2014 at 7:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

There have long been stark economic differences between Fairfax County and McDowell. But as their fortunes have diverged even further over the past generation, their life expectancies have diverged, too. In McDowell, women’s life expectancy has actually fallen by two years since 1985; it grew five years in Fairfax.

“Poverty is a thief,” said Michael Reisch, a professor of social justice at the University of Maryland, testifying before a Senate panel on the issue. “Poverty not only diminishes a person’s life chances, it steals years from one’s life.”

That reality is playing out across the country. For the upper half of the income spectrum, men who reach the age of 65 are living about six years longer than they did in the late 1970s. Men in the lower half are living just 1.3 years longer.

This life-expectancy gap has started to surface in discussions among researchers, public health officials and Washington policy makers.

Read it all.

Filed under: * Culture-WatchPovertyPsychology* Economics, PoliticsEconomyConsumer/consumer spendingHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

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Posted March 20, 2014 at 3:09 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

U.S. business leaders, encouraged by the recent break in Washington's budget gridlock, are increasingly looking to boost spending. But that probably won't come in ways that would drive rapid hiring or economic growth, according to a new Business Roundtable survey of top CEOs....

Nearly half of CEOs surveyed by the Washington trade group said they expect to boost U.S. capital spending in the next six months, compared with only 39% eyeing higher spending three months ago. But while 72% of CEOs see an increase in sales in the next six months, only 37% expect to boost U.S. employment, according to the survey released Tuesday. Forty-four percent see their U.S. payrolls unchanged.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted March 19, 2014 at 8:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The articles are entitled Employment of young workers has plunged as older workers remain in entry-level jobs and A Dead End--few leaving stepping-stone jobs. Read them both.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* South Carolina* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted March 15, 2014 at 9:31 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Jeanina Jenkins, a 20-year-old high-school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald’s Corp. that she calls a “last resort” because nobody would offer her anything better.

Stephen O’Malley, 26, a West Virginia University graduate, wants to put his history degree to use teaching high school. What he’s found instead is a bartender’s job in his home town of Manasquan, New Jersey.

Jenkins and O’Malley are at opposite ends of a dynamic that is pushing those with college degrees down into competition with high-school graduates for low-wage jobs that don’t require college. As this competition has intensified during and after the recession, it’s meant relatively higher unemployment, declining labor market participation and lower wages for those with less education.

Read it all.

Filed under: * Culture-WatchEducationYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General

0 Comments
Posted March 13, 2014 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A Church of England bishop has accused the Government of penalising stay-at-home mothers and carers by discriminating against families in the tax and benefits system.

The criticism came after an inquiry by a Christian charity to be launched on Tuesday found that that married couples with only one earner keep less of every extra pound they earn in the UK than in any other country in the developed world.

Last month, church leaders including 27 Anglican bishops condemned the Coalition’s welfare policies for causing hardship and hunger, and Cardinal Vincent Nichols, leader of the Catholic Church in England and Wales, said its benefit cuts were “a disgrace". Now the Government is under attack for being “anti-family” in a study carried out by the charity Christian Action Research and Education (CARE).

Read it all from the Independent.

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)CoE Bishops* Culture-WatchChildrenLaw & Legal IssuesMarriage & Family* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketTaxesPolitics in General* International News & CommentaryEngland / UK

1 Comments
Posted March 10, 2014 at 5:21 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

More than 40 religious leaders from the North Shore and elsewhere in the Chicago area have sent a letter to Sen. Mark Kirk (R-Ill.), calling on him to help families struggling with unemployment. The clergy have asked Sen. Kirk to support the extension of emergency unemployment compensation (EUC), a federal program that provides unemployment aid after state benefits have been exhausted. This aid helps families pay bills and put food on the table, while they seek work in a difficult job market. EUC expired last December, and Congress has so far been unable to reinstate it, causing more than 2 million people to lose this vital assistance, including more than 110,000 from Illinois.

Sen. Kirk has twice voted against reinstating EUC, even though the unemployment rate in Illinois is 8.9 percent—the third highest in the nation. The last vote, which happened in February, fell one vote short of passage. Sen. Kirk’s “no” is widely seen as decisive in killing that bill, and he will hold the key vote when the Senate again considers the bill, which may be as early as next week. The letter follows....

Read it all.

Filed under: * Anglican - EpiscopalEpiscopal Church (TEC)* Culture-WatchReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPolitics in General

1 Comments
Posted March 10, 2014 at 12:19 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

America’s vaunted Protestant work ethic is getting a makeover: Now it might be more of an atheist work ethic.

A new study has found an inverse relationship between the religiosity of a state’s population and its “productive entrepreneurship.” That’s professor-speak for “entrepreneurial investment responsible for real economic growth.”

In other words, the less religious a state’s population, the more likely it is to have a healthy economy.

Read it all.


Filed under: * Culture-WatchHistoryReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* Religion News & CommentaryOther Faiths* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted March 9, 2014 at 3:01 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

At the heart of any company is its mission. A business' mission defines what it stands for -- its purpose and the reason for its existence. Mission declares the difference a company seeks to make in the world. A strong mission is lofty, ambitious, and sometimes audacious.

Many executives don't realize that mission is an underused asset in improving organizational performance and profitability, and they neglect their ultimate responsibility of aligning their brand and culture with their highest purpose. Failure to meet a company's mission-related needs is failure of leadership.

To instill a passion for the company's purpose, the best leaders in the world hold managers accountable for addressing employees' basic engagement needs. Then they focus on aligning mission, culture, and brand to empower high performance among individuals and teams. By providing this strategic direction, mission-driven leaders maximize employee engagement as a key driver of organizational performance -- and as a strong predictor of business success.

Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted March 7, 2014 at 11:29 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Canadians are in a funk. Things are better than ever, but people are feeling worse. “The trend lines are disturbing,” EKOS pollster Frank Graves wrote recently, reporting that public pessimism is deepening. “… Only around 10 per cent of Canadians and Americans think the next generation will enjoy a better quality of life.”

Well, maybe they will or maybe they won’t. Meantime, this generation is doing pretty well. Despite recessions, globalization and the inexorable rise of the robots, most of us never had it so good. In 2011, the median real income for Canadian two-parent families with two earners was $100,000 – $13,000 higher than in 2000. The annual average unemployment rate is down to 7 per cent. Despite the soaring cost of housing, nearly 70 per cent of us have an ownership stake in our own homes.

So what’s our problem?...

Read it all.

Filed under: * Culture-WatchChildrenGlobalizationMarriage & FamilyPsychologyScience & Technology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal Finance* International News & CommentaryCanada* TheologyEthics / Moral Theology

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Posted March 6, 2014 at 3:34 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Gallup's U.S. Job Creation Index increased slightly in February to +21 from +19 in December and January. The index now exceeds the +20 average for 2013 and is the highest February reading since the beginning of the 2007-2009 recession.

Read it all.

Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

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Posted March 6, 2014 at 1:39 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A critical shortage of affordable housing affects the long-term economic health of the region and strains the budgets of many homeowners and renters, according to a new study.

Some 33 percent of homeowners and 50 percent of renters are living in housing they can not afford. Those affected include teachers, police officers and others in the tri-county's largely service-based economy, says the report released by the Berkeley, Charleston, Dorchester Council of Governments.

"Housing affordability greatly impacts the ability to retain existing businesses and attract new industries," it says.

Read it all from the local paper.

Filed under: * Economics, PoliticsEconomyHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal Finance* South Carolina

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Posted March 4, 2014 at 3:19 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

If Daniel Nadler is right, a generation of college graduates with well-paid positions as junior researchers and analysts in the banking industry should be worried about their jobs. Very worried.

Mr Nadler’s start-up, staffed with ex-Google engineers and backed partly by money from Google’s venture capital arm, is trying to put them out of work.

Its algorithms assess how different securities are likely to react after the release of a market-moving piece of information, such as a monthly employment report. That is the kind of work usually done by well-educated junior analysts, who pull data from terminals, fill in spreadsheets and crunch numbers. “There are several hundred thousand people employed in that capacity. We do it with machines,” says Mr Nadler. “We’re not competing with other [tech] providers. We’re competing with people.”

Read it all.

Filed under: * Culture-WatchScience & Technology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted March 4, 2014 at 5:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

His co-workers may have not seen past his beard, but the jury did.

A Muslim American man from Ypsilanti, Mich., has won a nearly $1.2-million jury award after successfully arguing he was harassed, taunted and discriminated against at work because of his religion, race and appearance - most notably, his long scruffy beard.

Ali Aboubaker, 56, a U.S. citizen and Tunisia native with four advanced degrees, was awarded the judgment on Thursday following a two-week jury trial in U.S. District Court in Detroit.

"We were stunned," said Aboubaker's lawyer, Shereef Akeel, who stressed to the jury that his client had several strikes against him.

Read it all.

Filed under: * Culture-WatchLaw & Legal IssuesReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* Religion News & CommentaryOther FaithsIslam

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Posted March 2, 2014 at 12:15 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The economy finished 2013 on a weaker footing than first thought, the government said on Friday, heightening concern that the United States is in the midst of another of the periodic slow patches that have dogged the recovery over the last five years.

The Commerce Department now estimates the economy grew at an annual pace of 2.4 percent in October, November and December, down from an initial estimate of 3.2 percent. The revised figure also represents a substantial slowing from the pace of growth in the third quarter, which totaled 4.1 percent. The department is scheduled to provide one more estimate of growth during the fourth quarter on March 27.

The downward revision comes after new data showing lackluster retail sales, inventory adjustments and a slightly less impressive trade balance late last year. Disappointing reports on job creation in December and January have also prompted fear of continued weakness into the spring of 2014.

Read it all.

Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. Government* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

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Posted March 1, 2014 at 8:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The impression is that if only poor people would organise their lives more effectively, work harder at work or at finding work, and help each other out a little more, the problems would disappear.

This is not just a comforting fantasy for the comfortably-off, it’s a dangerous delusion. It ignores the huge structural changes affecting the British economy, thanks to technology, international competition and immigration. The top 1 per cent have seen their share of earnings increase from 7 to 10 per cent in two decades, but median pay has been static or falling for ten years. The decline is sharpest for those at the bottom of the scale.

Poor people are getting poorer because full-time jobs are disappearing or wage rates are being cut. The Joseph Rowntree Foundation shows that the income of those in the bottom tenth of the income range peaked in 2004 and has been falling ever since. At the same time there have been above-inflation rises in essential costs. Since 2008 gas and electricity prices have risen by almost two thirds, food by a third, transport by a quarter. The result is that incomes and wealth are being squeezed as never before. Half of all families on average to low incomes have no savings whatsoever.

Read it all (subscription required).

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)CoE Bishops* Culture-WatchDieting/Food/NutritionGlobalizationPovertyReligion & CultureScience & Technology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted February 27, 2014 at 6:31 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

As we report in Wednesday’s Wall Street Journal, a number of companies, including elite banks and consulting firms, regularly ask job applicants to list their SAT scores along with GPAs, extracurricular activities and work experience. Though the practice is most common for new college hires, some firms request scores from candidates in their 40s and 50s....

Read it all.

Filed under: * Culture-WatchEducation* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market

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Posted February 26, 2014 at 6:20 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Last June, in an interview with Adam Bryant of The Times, Laszlo Bock, the senior vice president of people operations for Google — i.e., the guy in charge of hiring for one of the world’s most successful companies — noted that Google had determined that “G.P.A.’s are worthless as a criteria for hiring, and test scores are worthless. ... We found that they don’t predict anything.” He also noted that the “proportion of people without any college education at Google has increased over time” — now as high as 14 percent on some teams. At a time when many people are asking, “How’s my kid gonna get a job?” I thought it would be useful to visit Google and hear how Bock would answer.

Don’t get him wrong, Bock begins, “Good grades certainly don’t hurt.” Many jobs at Google require math, computing and coding skills, so if your good grades truly reflect skills in those areas that you can apply, it would be an advantage. But Google has its eyes on much more.

“There are five hiring attributes we have across the company,” explained Bock. “If it’s a technical role, we assess your coding ability, and half the roles in the company are technical roles. For every job, though, the No. 1 thing we look for is general cognitive ability, and it’s not I.Q. It’s learning ability. It’s the ability to process on the fly. It’s the ability to pull together disparate bits of information. We assess that using structured behavioral interviews that we validate to make sure they’re predictive.”

Read it all.


Filed under: * Culture-WatchBlogging & the InternetEducationScience & Technology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted February 26, 2014 at 8:01 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

South Carolina's military communities are bracing for an uncertain future after Defense Secretary Chuck Hagel on Monday called for deep cuts to the Army in 2015.

While Fort Jackson in Columbia - where more than 45,000 recruits are trained annually - is the obvious target, Charleston's and other installations also may be in the cross hairs since Hagel also called for a new round of base-closure reviews in 2017.

Still, the decision on rekindling a Base Realignment and Closure Commission depends on Congress, which has delayed the assessments in recent years in the interest of protecting jobs at home.

Read it all from the local paper.

Filed under: * Culture-WatchRural/Town LifeUrban/City Life and Issues* Economics, PoliticsDefense, National Security, MilitaryEconomyHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinancePolitics in GeneralCity GovernmentState Government* South Carolina* TheologyEthics / Moral Theology

3 Comments
Posted February 25, 2014 at 6:16 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

...more people every year, locally and across the nation, continue laboring for a paycheck past the time when they could be collecting Social Security.

The average age of retirement in America, which had been on the decline during much of the 20th century, has been rising for the past two decades for a combination of reasons. A recent Bureau of Labor Statistics report found that about 27 percent of people ages 65 to 74 were still in the workforce, compared with just 20 percent in 2002. It predicted nearly one in three people of that age would be part of the labor pool in 2022.

“People today are working later than they have been for quite some time … as long today as in the 1970s,” said Kevin Cahill, a research economist for the Sloan Center on Aging and Work at Boston College. “The incentives have shifted in favor of work.”

Read it all.

Filed under: * Culture-WatchAging / the ElderlyMiddle AgePsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

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Posted February 20, 2014 at 11:04 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

50% of GDP comes from orange areas, 50% from blue.

Look at the map and read it all.

Filed under: * Culture-WatchRural/Town LifeUrban/City Life and Issues* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe U.S. Government* International News & CommentaryAmerica/U.S.A.

2 Comments
Posted February 19, 2014 at 3:45 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Americans have a new No. 1 problem. Nearly one in four Americans mention jobs and unemployment as the most important problem facing the country, up from 16% in January. The government and politicians had topped the list since the government shutdown in October.

Prior to last fall, either jobs or the economy had led the "most important problem" list going back to February 2008, and these two have regained their top spots in the Feb. 6-9 poll.

Healthcare continues to rank among the top problems, with 15% naming it, unchanged from January. Mentions of the federal debt/budget deficit are stable at 8%, despite Congress' increasing the debt ceiling in February.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryAmerica/U.S.A.* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted February 18, 2014 at 7:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Like other 20-somethings seeking a career foothold, Andrew Lang, a graduate of Penn State, took an internship at an upstart Beverly Hills production company at age 29 as a way of breaking into movie production. It didn’t pay, but he hoped the exposure would open doors.

When that internship proved to be a dead end, Mr. Lang went to work at a second production company, again as an unpaid intern. When that went nowhere, he left for another, doing whatever was asked, like delivering bottles of wine to 27 offices before Christmas. But that company, too, could not afford to hire him, even part time.

A year later, Mr. Lang is on his fourth internship, this time for a company that produces reality TV shows. While this internship at least pays him (he makes $10 an hour, with few perks), Mr. Lang feels no closer to a real job and worries about being an intern forever. “No one hires interns,” said Mr. Lang, who sees himself as part of a “revolving class of people” who can’t break free of the intern cycle. “Is this any way to live?”

Read it all.

Filed under: * Culture-WatchPsychologyYoung Adults* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyAnthropologyEthics / Moral Theology

1 Comments
Posted February 18, 2014 at 6:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Fourteen percent of adults between the ages of 24 and 34 -- those in the post-college years when most young adults are trying to establish independence -- report living at home with their parents. By contrast, roughly half of 18- to 23-year-olds, many of whom are still finishing their education, are currently living at home.

Read it all.

Filed under: * Culture-WatchChildrenMarriage & FamilyPsychologyYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyPastoral Theology

0 Comments
Posted February 14, 2014 at 7:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

To help money flow more evenly across the currency area, Coeure said the idea of cutting into negative territory the rate the ECB pays banks to hold their deposits overnight was "a very possible option".

"That is something we are considering very seriously. But you should not expect too much of it," he said of a negative deposit rate.

The ECB left policy on hold last week but President Mario Draghi put markets on alert for possible action in March, saying the Governing Council would have more information at its disposal by then, including new forecasts from the bank's staff that will extend into 2016 for the first time.

Read it all from Reuters.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyEuroEuropean Central BankHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Banking System/Sector* International News & CommentaryEurope--European Sovereign Debt Crisis of 2010* TheologyEthics / Moral Theology

1 Comments
Posted February 12, 2014 at 6:01 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Underemployment, as measured without seasonal adjustment, was 18.6% in January, up from 17.2% in December, and up from 17.5% in January 2013. Gallup's U.S. underemployment rate combines the percentage of adults in the workforce who are unemployed (8.6%) with the percentage of those who are working part time but looking for full-time work (10.0%). An increase in unemployment mainly explains the increase in underemployment vs. December, partly attributable to more out-of-work Americans now reporting they are looking for work.

Read it all and please note that U-6 happily fell from 13.1% to 12.7% in the BLS report on Friday

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* TheologyAnthropologyEthics / Moral Theology

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Posted February 10, 2014 at 3:20 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A hiring chill hit the U.S. labor market for the second straight month in January, reflecting employers' reluctance to take on new workers despite some of the nation's strongest economic growth in years.

U.S. payrolls rose a seasonally adjusted 113,000 in January after December's lackluster gain of 75,000 jobs, marking the weakest two-month stretch of job creation in three years, the Labor Department said Friday.

Yet the unemployment rate ticked down to 6.6%—the lowest level since late 2008. The decline came because more people found jobs last month as opposed to last year when it fell in part because of unemployed Americans abandoning their job hunts and dropping out of the labor force.

Read it all.

Filed under: * Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

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Posted February 8, 2014 at 9:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

[Mark] Riley's frustration is widely shared. More than one in six men ages 25 to 54, prime working years, don't have jobs—a total of 10.4 million. Some are looking for jobs; many aren't. Some had jobs that went overseas or were lost to technology. Some refuse to uproot for work because they are tied down by family needs or tethered to homes worth less than the mortgage. Some rely on government benefits. Others depend on working spouses.

Having so many men out of work is partly a symptom of a U.S. economy slow to recover from the worst recession in 75 years. It is also a chronic condition that shows how technology and globalization are transforming jobs faster than many workers can adapt, economists say.

The trend has been building for decades, according to government data. In the early 1970s, just 6% of American men ages 25 to 54 were without jobs. By late 2007, it was 13%. In 2009, during the worst of the recession, nearly 20% didn't have jobs.

Read it all.

Filed under: * Culture-WatchMenMiddle Age* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryAmerica/U.S.A.

0 Comments
Posted February 6, 2014 at 2:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Don’t let all the suits and ties fool you. Almost everyone at Year Up has faced almost unimaginable hardship in getting here. Poverty, drugs, foster care, men's and women's shelters—you name it.

Gerald Chertavian: We are going into a professional skills course.

This all out corporate training blitz is the brainchild of Gerald Chertavian -- a Wall Street veteran who believes that he’s discovered an untapped source of talent among the poorest in the country.

Gerald Chertavian: A majority of the young adults growing up in isolated poverty, in our inner cities, want opportunity, want to be challenged, want to be held to higher expectations, and are motivated to actually get a good job. They haven't had any exposure as to how do you do that.

Read it all or watch it all.

Filed under: * Culture-WatchHealth & MedicinePsychologyUrban/City Life and IssuesYoung Adults* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyPastoral Theology

0 Comments
Posted February 6, 2014 at 5:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The budget office analysis found that the law, in effect, nudges workers to work less. The insurance expansion reduces the need for a person to take a full-time job just to get coverage. The premium subsidies effectively bolster household income. Higher taxes for richer households also reduce the incentive to work.

But it will also have an effect on businesses, the report said, including by encouraging them to reduce employee hours to avoid the “employer mandate.” The overall demand for labor would not change, in other words, but businesses might arrange their workers’ schedules differently to avoid having to provide them with health care.

Read it all.

Filed under: * Culture-WatchHealth & Medicine--The 2009 American Health Care Reform Debate* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyEthics / Moral Theology

0 Comments
Posted February 5, 2014 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

DE SAM LAZARO: Joe Bozich founded the Knights Apparel company in 2001 and built it into the largest maker of licensed college sportswear. These shirts are made in a tiny corner of the Knights empire: a factory called Altagracia that pays people like Manuel Guzman a living wage. Unusual does not begin to describe the factory where Guzman works in the Dominican Republic, a Caribbean nation of nearly 10 million, where unemployment exceeds 15 percent. The factory atmosphere is relaxed, the music is loud.

MANUEL GUZMAN: (through translator) There is no pressure here to produce all the time. People come here to train us, lawyers have taught us our rights. Also, we have a union that protects us.

DE SAM LAZARO: Maritza Vargas is the union steward.

(to Vargas) Are the wages sufficient?

MARITZA VARGAS: Si.

DE SAM LAZARO: Yes, she responded. Wages are based on the cost of living for a family of five, calculated by the country’s central bank and adjusted every year for inflation.

Read or watch and listen to it all.

Filed under: * Culture-WatchGlobalizationLaw & Legal IssuesReligion & Culture* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market

0 Comments
Posted February 3, 2014 at 4:41 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The economy had its best second half in a decade, indicating that the U.S. is on firmer footing. But the current expansion remains slow, and the pace of growth still is weak historically.

Read it all and look at the three charts carefully.

Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

0 Comments
Posted February 1, 2014 at 5:35 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A recent Accenture survey tallied the optimism among CEOs and other top executives in 20 countries and found that 64% of them were bullish on the U.S. and planning to locate more labor and operations there in 2014. Companies may finally stop sitting on so much cash and use it to invest in workers and equipment. That would spark a virtuous cycle that should ultimately lead to real, sustainable growth of 3% to 4%, which is what the U.S. needs for unemployment numbers to continue ticking down. Incoming Federal Reserve Chair Janet Yellen recently told me she's hopeful that businesses will start spending this year.

If they do, pay attention to what types of jobs get created. That's where the argument for exceptionalism gets trickier. Over half of all U.S. jobs created in 2013 were in low-wage sectors, like retail or health care, where paychecks are actually shrinking relative to inflation. Part-time workers still make up more of the workforce than is healthy. And the participation rate, meaning the number of people with jobs relative to the overall working-age population, is the lowest it's been since 1978, before women started coming into the labor force en masse. (The unemployment rate, by contrast, takes into account only workers who are seeking jobs.) While some economists argue that this reflects the retirement of baby boomers, Westwood Capital managing director Daniel Alpert points out that it's not nearly enough to account for the many millions of workers who've dropped out of the labor market. "There is much more going on here than the retirement of some lucky baby boomers," he says.

Read it all.

Filed under: * Culture-WatchGlobalizationHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor Market* International News & CommentaryAmerica/U.S.A.

0 Comments
Posted January 31, 2014 at 4:20 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The gruelling hours were even more important, however. In his valedictory emails, perhaps wary of the cliché, Mr El-Erian avoided saying he wanted to spend more time with his family. But that is, in fact, his main reason for leaving, according to people close to him.

One tells me that on an average day Mr El-Erian’s alarm clock goes off at 2.45am. He usually gets to the office by 4.15am, gets home to his family about 7pm, eats, goes to bed by about 8.45pm and does it again.

Read it all.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeCredit MarketsCurrency MarketsLabor/Labor Unions/Labor MarketPersonal FinanceStock Market

0 Comments
Posted January 28, 2014 at 4:28 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

...it's not to fuel their love that today's couples don't live under the same roof. It's in order to work. Long hours in the office make some commuters think about renting accommodation close to HQ rather than stay with their spouse. The effect this must have on marriage, not to mention children, is huge – and negative. Marriage works – and every piece of research confirms that it does – because it is an emotional and physical bond between two people, tested and strengthened on a daily basis. It's not a serial dating relationship, where man and woman have a bit of fun and then retreat into their autonomous zones.

Incredibly, until very recently, as Iain Duncan Smith reminded us in the interview he has given me, the government promoted precisely this mad model of marriage. The welfare system was set up to give more money to single parents (or those living on their own) than to couples. Spouses would either pretend to, or genuinely, split up in order to claim more in benefits. The model, called "Living Apart Together", was based on the Government's fear that giving less to lone parents would amount to "persecuting" them. It wouldn't look good – even if it did harm.

Thankfully, the Coalition has decided to come out in favour of old-fashioned marriage, and will give a tax break to married couples.

Read it all.

Filed under: * Culture-WatchLaw & Legal IssuesMarriage & Family* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPolitics in General* International News & CommentaryEngland / UK* TheologyEthics / Moral Theology

0 Comments
Posted January 27, 2014 at 5:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Students under 30 still make up the largest age cohort in seminaries, according to the Association of Theological Schools. But older students are growing in representation among 74,000 or so students pursuing a seminary degree from an institution associated with the agency that accredits graduate schools of theology. The percentage of students over 50 enrolled in a seminary rose to about 21% in 2011 from 12% in 1995. The percentage of students under 30 has hovered at around 30% during the same period.

Older students bring some advantages to churches, including congregations that may not be able to afford a pastor who seeks a sizable salary, says Daniel Aleshire, executive director of the Association of Theological Schools. Older pastors may have a pension from a previous career and may not carry as much debt as younger candidates.

"Those who are older identify with what people who are going through because they bring a lot of life experience," Mr. Aleshire says. "They may not have the energy, but they may be more skilled overall."

Read it all.

Filed under: * Culture-WatchMiddle AgeReligion & Culture* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologySeminary / Theological Education

1 Comments
Posted January 24, 2014 at 11:20 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

More than five years later, there is still no answer to perhaps the most critical question raised by the man-made disaster: How much did it all cost?

In July, three economists at the Federal Reserve Bank of Dallas, Tyler Atkinson, David Luttrell and Harvey Rosenblum, gave it a shot, at least as far as the United States economy goes.

...their examination offers a panoramic view of the variety of ways in which the financial crisis diminished the nation’s standard of living. At a bare minimum the crisis cost nearly $20,000 for each American. Adding in broader impacts on workers’ well-being — an admittedly speculative exercise — could raise the price tag to as much as $120,000 for every man, woman and child in the United States. With this kind of money we could pay back the federal debt or pay for a top-notch college education for everyone.

Read it all.

Filed under: * Culture-WatchChildrenHistoryMarriage & FamilyPovertyPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentFederal ReserveThe National DeficitPolitics in General* TheologyAnthropologyEthics / Moral Theology

5 Comments
Posted January 22, 2014 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

If the new wave of supersmart robots and computers is as clever as people say, will they be any more able than humans are to answer the question of whether these automatons will destroy everyone’s jobs?

This issue has been subject to fierce debate in the US, where the economy has never generated so few jobs in an upturn since records began. It has been less debated in Britain, probably because the country has so far experienced a low-productivity recovery in which employers have preferred hiring low-wage workers to investing in technology.

That could be temporary, however: there are signs that productivity may be starting to pick up. The robots issue has global implications.

Read it all.

Filed under: * Culture-WatchGlobalizationScience & Technology* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted January 21, 2014 at 9:09 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

True to their "live to work" reputation, some baby boomers are digging in their heels at the workplace as they approach the traditional retirement age of 65. While the average age at which U.S. retirees say they retired has risen steadily from 57 to 61 in the past two decades, boomers -- the youngest of whom will turn 50 this year -- will likely extend it even further. Nearly half (49%) of boomers still working say they don't expect to retire until they are 66 or older, including one in 10 who predict they will never retire.

Read it all.

Filed under: * Culture-WatchAging / the ElderlyMarriage & FamilyMiddle AgePsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPersonal FinancePensionsStock MarketThe U.S. GovernmentMedicareSocial SecurityPolitics in General* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted January 21, 2014 at 6:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The US Federal Reserve was being complacent by planning for years of below-target inflation, warned Minneapolis Fed President in a clarion call for more economic stimulus.
“We’re running the risk of being content with inflation running consistently below our target. That’s inappropriate,” said Narayana Kocherlakota, who votes on Fed monetary policy this year, in an interview with the Financial Times. “Right now we’re sitting with an outlook for inflation that even by 2016 . . . is not getting back to 2 per cent.”

Mr Kocherlakota’s remarks illustrate the growing anxiety about low global inflation that led Christine Lagarde, head of the International Monetary Fund, to warn this week that “rising risks of deflation” could be disastrous for the world’s economic recovery – calling it the “ogre that must be fought decisively”.

Read it all.

Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentFederal ReservePolitics in General* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

0 Comments
Posted January 17, 2014 at 6:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

There is no simple fix for an entrenched culture of overwork at professional services firms. The fact that an entry-level analyst at a Wall Street bank is required to sacrifice his or her personal life to the job – sitting at a desk until dawn, eating order-in food and correcting invisible errors in spreadsheets – has been built into the system.

“They know they have signed up for long hours but, until they get there, they don’t realise how disruptive it is. Your friendships deteriorate and your boyfriend or girlfriend is angry because they have not had a meal with you for a month. You lose touch with your family. It’s miserable,” says Kevin Roose, the author of Young Money , a forthcoming book on Wall Street’s first- and second-year recruits.

It is, of course, an elite problem. Despite everything, thousands compete for such jobs, hoping the Faustian pact will pay off. Goldman Sachs, which has tried to reform how it treats junior employees, received 17,000 applications for its 2014 intake of analysts and recruited 330.

Read it all.

Filed under: * Culture-WatchHealth & MedicineLaw & Legal Issues* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketStock Market* TheologyAnthropologyEthics / Moral Theology

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Posted January 16, 2014 at 3:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

More Americans, 42%, say they are financially worse off now than they were a year ago, reversing the lower levels found over the past two years. Just more than a third of Americans say their financial situation has improved from a year ago.

These results come from Gallup's annual "Mood of the Nation" poll, conducted Jan. 5-8. Gallup has found that Americans' economic confidence, self-reported consumer spending, and perceptions of job creation improved in 2013. Despite Americans' more positive views of the overall U.S. economy in 2013, nearly two-thirds believe their personal financial situation deteriorated or was stable over the past year.

Though down from mid-2013, the percentage of Americans saying they are financially better off than a year ago is nearly in line with the historical average (38%), spanning 1976-2014. On the other hand, the share of Americans saying they are financially worse off compared with a year ago is, by historical standards, high -- eight percentage points above the average. The record high of 55% occurred in May and September 2008, the year (and, in the latter case, the month) of the global financial meltdown.

Read it all.

Filed under: * Culture-WatchChildrenMarriage & FamilyPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

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Posted January 16, 2014 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Here’s what we learned from the in-depth report on how women are doing in post-recession America.

--1 in 3 American women, 42 million women, plus 28 million children, either live in poverty or are right on the brink of it. (The report defines the “brink of poverty” as making $47,000 a year for a family of four.)
--Nearly two-thirds of minimum wage workers are women, and these workers often get zero paid sick days.
--Two-thirds of American women are either the primary or co-breadwinners of their families.

Read it all.

Filed under: * Culture-WatchChildrenMarriage & FamilyPovertyWomen* Economics, PoliticsEconomyConsumer/consumer spendingHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal Finance* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

3 Comments
Posted January 15, 2014 at 7:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

As 2014 dawns, ObamaCare's most disruptive changes to the health care system are just now getting under way. For American businesses, that means a raft of new taxes that will pose devastating consequences for their employees and the broader economy.

Paramount among them is a new tax on health insurers (HIT) that's projected to "hit" them for more than $100 billion over the next decade. ObamaCare's architects intended to eat into the margins of insurers with this levy — and even set it proportional to each company's market share, so that bigger insurers pay more.

But the truth is that firms in every sector will pay it, as insurers will simply pass the tax along to employers in the form of higher premiums.

Indeed, premiums are expected to jump 2% to 3% over the course of this year thanks to this tax. By 2023, they could be about 4% higher.

Read it all.

Filed under: * Culture-WatchHealth & Medicine--The 2009 American Health Care Reform DebateLaw & Legal Issues* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal Finance

3 Comments
Posted January 14, 2014 at 6:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Payrolls dropped at nursing homes, home health agencies, hospitals, and doctors’ offices. Outpatient care centers gained jobs.

This is only a single monthly jobs report. December’s decline in health-care jobs might be a blip that could be revised to a gain in future months. But the industry did slow hiring in 2013. A look at the average job gains in health care over the last 12 months shows the sector adding about 21,000 a month, compared with 25,000 per month the year before.

Read it all.

Filed under: * Culture-WatchHealth & Medicine* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* International News & CommentaryAmerica/U.S.A.

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Posted January 13, 2014 at 5:26 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The U6 unemployment rate tabulates not only people without work who are seeking full-time employment but also counts "marginally attached workers and those working part-time for economic reasons."

Please take the time to study this graph of U-6 at the top and look carefully at the other numbers. What do you see? Seasonally adjusted U-6 unemployment is now
still higher than it was in November of 2008, over 5 years ago. While there has been improvement from the worst levels of the great recession, it is hardly anywhere near what could be called healthy.

Those of you who are data hounds (like yours truly) will perhaps appreciate the table here; there is much more material at the BLS website--KSH.

Filed under: * By Kendall* Culture-WatchHistory* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. Government

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Posted January 10, 2014 at 4:30 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

In a blow to hopes that the economy was finally gaining momentum, the government reported on Friday that employers added jobs last month at the slowest pace in three years, although some experts cautioned that wintry weather in many parts of the country may have skewed the data.

In December, employers added just 74,000 jobs, the Labor Department said, well below the 200,000 gain many economists had been looking for. The latest figures were a reversal from healthier monthly payroll gains in the fall that had convinced many economists – as well as policy makers at the Federal Reserve – that the labor market was on a more solid footing.

The unemployment rate did fall to 6.7 percent from 7 percent in November, the lowest since November 2008. But that was largely because of people dropping out of the work force rather than finding jobs.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyEthics / Moral Theology

1 Comments
Posted January 10, 2014 at 4:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Oregon replaced Washington, D.C., which had held the top spot for the previous five years as workers sought out government jobs. The nation's capital fell to fourth place last year, tying with South Dakota.

Other top destinations for those seeking to relocate included South Carolina, with 60 percent of moves made for those coming into the state, North Carolina (58 percent), and Nevada (56 percent).

"Business incentives, industrial growth and relatively lower costs of living are attracting jobs and people to the Southeastern and Western states, such as South Dakota, Colorado and Texas," said UCLA economist Michael Stoll.

Read it all.

Filed under: * Culture-WatchTravel* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* General InterestWeather* South Carolina* TheologyAnthropologyEthics / Moral Theology

6 Comments
Posted January 8, 2014 at 8:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Restaurateur Michael De Beyer wants to sell his fine-dining German restaurant, but at the right price, and all for a good cause.

A 19-year-old employee of De Beyer’s has been diagnosed with a ping-pong size tumor in her brain, he said. And in December, when doctors first made their diagnosis, De Beyer’s jack-of-all-trades hostess, waitress, bus-girl and kitchen aide didn’t have health insurance, he said.

De Beyer said he is willing to help any way he can, even if that includes selling the only German restaurant owned by an actual German in the Houston region, as he describes his Montgomery restaurant of 15 years, the Kaiserhof Restaurant and Wunderbar.

“I’m not able to just sit by and let it happen,” De Beyer said. “I couldn’t live with myself; I would never be happy just earning money from my restaurant knowing that she needs help.”

Read it all.

Filed under: * Culture-WatchHealth & MedicineTeens / Youth* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyPastoral Theology

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Posted January 8, 2014 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

In the field of higher education, reality is outrunning parody. A recent feature on the satire website the Onion proclaimed, "30-Year-Old Has Earned $11 More Than He Would Have Without College Education." Allowing for tuition, interest on student loans, and four years of foregone income while in school, the fictional student "Patrick Moorhouse" wasn't much better off. His years of stress and study, the article japed, "have been more or less a financial wash."

"Patrick" shouldn't feel too bad. Many college graduates would be happy to be $11 ahead instead of thousands, or hundreds of thousands, behind. The credit-driven higher education bubble of the past several decades has left legions of students deep in debt without improving their job prospects. To make college a good value again, today's parents and students need to be skeptical, frugal and demanding. There is no single solution to what ails higher education in the U.S., but changes are beginning to emerge, from outsourcing to online education, and they could transform the system.

Read it all.

Filed under: * Culture-WatchEducationYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPersonal Finance* TheologyAnthropologyEthics / Moral Theology

2 Comments
Posted January 4, 2014 at 6:09 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

American consumers in 2013 were more upbeat than at any time in the previous six years as views on the economy, finances and the buying climate improved.

The Bloomberg Consumer Comfort Index...averaged minus 31.4 for 2013, the highest since 2007, when it was minus 10.5. The weekly index fell for the first time since mid-November, dropping to minus 28.7 for the period ended Dec. 29, from minus 27.4.

An improved job market, higher stock prices and rising home values lifted sentiment at the end of the year and helped drive holiday retail shopping. Stronger wage and employment growth would help propel bigger gains in confidence and encourage Americans to boost spending, which accounts for almost 70 percent of the economy.

Read it all.

Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceStock MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryAmerica/U.S.A.

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Posted January 3, 2014 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The 41 employees of Extreme Dodge in Jackson, Mich., are very familiar with trade-ins, but this year they’re learning about trade-offs as they come face to face with the new realities of health care. A few workers say they’re getting a great deal, but most have a severe case of sticker shock.

“I feel like I’ve been taken to the cleaners,” said Neal Campbell, a salesman.

Read it all or watch the video report from NBC.

Filed under: * Culture-WatchHealth & Medicine--The 2009 American Health Care Reform DebateLaw & Legal Issues* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal Finance* TheologyEthics / Moral Theology

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Posted January 2, 2014 at 3:05 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A handful of employees--now ex-employees--of a Miami chiropractic office say they got more than a paycheck for their labors.

The workers say they were force-fed an indoctrination in the rituals of Scientology, the controversial religion that counts such celebrities as Tom Cruise and John Travolta among its members. Those rituals, the workers complained, included occasionally having to sit perfectly still in a spare room at the office, facing one another for an eight-hour stare-down--as well as yelling at ash trays and talking to the walls.

They also had to devour the books of the late L. Ron Hubbard, Scientology's founder, including his seminal work, "Dianetics," the complaint alleged.

Read it all.

Filed under: * Culture-WatchLaw & Legal IssuesReligion & Culture* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* International News & CommentaryAmerica/U.S.A.* Religion News & CommentaryOther Faiths

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Posted December 23, 2013 at 8:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Although the Fed expects to keep reducing the program "in measured steps" next year, the timing and the course isn't preset. "Continued progress [in the economy] is by no means certain," Mr. [Ben] Bernanke said. "The steps that we take will be data-dependent."

If the Fed proceeds at the pace he set out, it would complete the bond-buying program toward the end of 2014 with holdings of nearly $4.5 trillion in bonds, loans and other assets, nearly six times as large as the Fed's total holdings when the financial crisis started in 2008.

Still, officials—worried that investors would quake at the thought of less Fed support—went to lengths to demonstrate that they would keep interest rates low for years to come, even after the bond-buying program ends.
Read it all.

Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeCredit MarketsCurrency MarketsHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceStock MarketThe Banking System/SectorThe U.S. GovernmentBudgetFederal ReserveThe National DeficitPolitics in General* TheologyEthics / Moral Theology

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Posted December 19, 2013 at 8:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

While plenty of baby boomers, born from 1946 to 1964, have become affluent and many elderly around the U.S. face financial hardship, the wealth disparity of this father and daughter is emblematic of a broad shift occurring around the country. A rising tide of graying baby boomers is less secure financially and has a lower standard of living than their aged parents.

The median net worth for U.S. households headed by boomers aged 55 to 64 was almost 8 percent lower, at $143,964, than those 75 and older in 2011, according to Census Bureau data. Boomers lost more than other groups in the stock market and housing bust of 2008, and many also lost their jobs in the aftermath at a critical point in their productive years.

Read it all.


Filed under: * Culture-WatchAging / the ElderlyChildrenMarriage & FamilyMiddle AgePsychology* Economics, PoliticsEconomyHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinancePensionsStock MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentMedicareSocial Security

0 Comments
Posted December 18, 2013 at 6:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Workers’ pay is hardly growing, with average hourly compensation only rising 38 cents, or 1.2%, over the last year.

Including both wages and benefits, employers paid an hourly average of $31.16 to each worker in September, compared with $30.78 a year ago, according to a Labor Department report released Wednesday. Wages and salaries made up nearly 70% of total compensation.

The agency’s quarterly report measures the average costs of wages, salaries and benefits for employees in the nonfarm private sector and state and local government workers. It doesn’t include people who work for the federal government or are self-employed. Benefit costs include paid leave, such as vacation or personal time, and the legally required benefits of Social Security, Medicare, unemployment insurance and workers’ compensation.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyAnthropologyEthics / Moral Theology

0 Comments
Posted December 12, 2013 at 5:45 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Americans see little prospect that President Barack Obama and Congress can get much done beyond keeping the government open for the next few months.

A Bloomberg National Poll finds 78 percent of respondents say the political gridlock in Washington will hurt the nation’s economy in 2014.

Large majorities say they want the government to ensure the new health-care law functions well, that policy makers agree to revise the tax code, and that an accord is reached to provide a pathway to U.S. citizenship for undocumented immigrants.

Yet most doubt those things can be accomplished in the current political environment...

Read it all.

Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in GeneralHouse of RepresentativesOffice of the PresidentPresident Barack ObamaSenate* TheologyEthics / Moral Theology

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Posted December 12, 2013 at 5:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Baby boomers are calling for a timeout.

After decades of raising children and climbing the corporate ladder, they're weary of the same old routine. But they're so caught up in high-pressure jobs that they don't have the time and energy to figure out what to do next.

Enter the career break.

Inspired by high-school and college students who take "gap" or "bridge" years, more baby boomers are taking an extended leave from the working world. Their goal: to relax, re-energize and reflect upon what they want to do next—which often means heading down an entirely new and more fulfilling career path.

Read it all from the WSJ.

Filed under: * Culture-WatchHealth & MedicineMiddle AgePsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropologyEthics / Moral TheologyPastoral Theology

0 Comments
Posted December 10, 2013 at 6:15 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The Atlantic has a story out about how the aging of the baby boom will lead to a housing crash. I am skeptical, because research I am doing with Hyojung Lee suggests that old people do not move out of their homes very much, and so as boomers age, they will not be glutting the market with their houses.

But there is another reason to think that the homeownership rate could fall: people are getting married at a decreasingly low rate. Susan Brown at Bowling Green has a study that shows that the marriage rate has dropped by 60 percent since 1970; right now slightly less than half of American households are married couple households. As recently as 1960, 3/4 of American households were married couple households.

Read it all.

Filed under: * Culture-WatchHistoryMarriage & Family* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor Market

1 Comments
Posted December 8, 2013 at 12:30 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

A federal bankruptcy judge granted Detroit unprecedented powers Tuesday to shed billions of dollars in debt, including the ability to slash city employee pensions despite a state constitutional provision protecting them.

In approving the nation’s ­largest-ever municipal filing, Judge Steven Rhodes cleared the way for Detroit’s emergency manager to develop a plan to reorganize the city’s estimated $18 billion in debt. Beyond cutting worker pensions and retiree health benefits, the city could stiff bondholders and sell city assets such as its water and sewer authority and its priceless art collection.

Read it all.

Filed under: * Culture-WatchLaw & Legal Issues* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Banking System/SectorThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in GeneralCity Government* TheologyEthics / Moral Theology

0 Comments
Posted December 4, 2013 at 8:46 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Pope Francis called for renewal of the Roman Catholic Church and attacked unfettered capitalism as "a new tyranny", urging global leaders to fight poverty and growing inequality in the first major work he has authored alone as pontiff.

The 84-page document, known as an apostolic exhortation, amounted to an official platform for his papacy, building on views he has aired in sermons and remarks since he became the first non-European pontiff in 1,300 years in March.

In it, Francis went further than previous comments criticizing the global economic system, attacking the "idolatry of money" and beseeching politicians to guarantee all citizens "dignified work, education and healthcare".

Read it all.


Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyCorporations/Corporate LifeCredit MarketsCurrency MarketsHousing/Real Estate MarketLabor/Labor Unions/Labor MarketStock MarketThe Banking System/Sector* International News & CommentaryEurope* Religion News & CommentaryOther ChurchesRoman CatholicPope Francis * TheologyEthics / Moral Theology

0 Comments
Posted November 26, 2013 at 8:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

American workers are living with unprecedented economic anxiety, four years into a recovery that has left so many of them stuck in place. That anxiety is concentrated heavily among low-income workers such as Stewart.

More than six in 10 workers in a recent Washington Post-Miller Center poll worry that they will lose their jobs to the economy, surpassing concerns in more than a dozen surveys dating to the 1970s. Nearly one in three, 32 percent, say they worry “a lot” about losing their jobs, also a record high, according to the joint survey, which explores Americans’ changing definition of success and their confidence in the country’s future. The Miller Center is a nonpartisan affiliate of the University of Virginia specializing in public policy, presidential scholarship and political history.

Job insecurities have always been higher among low-income Americans, but they typically rose and fell across all levels of the income ladder. Today, workers at the bottom have drifted away, occupying their own island of in­security.

Read it all.


Filed under: * Culture-WatchGlobalizationPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

0 Comments
Posted November 26, 2013 at 7:01 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Companies are bracing for an influx of participants in their insurance plans due to the health-care overhaul, adding to pressure to shift more of the cost of coverage to employees.

Many employers are betting that the Affordable Care Act's requirement that all Americans have health insurance starting in 2014 will bring more people into their plans who have previously opted out. That, along with other rising expenses, is prompting companies to raise workers' premium contributions, steer them toward high-deductible plans and charge them more to cover family members.

Read it all.

Filed under: * Culture-WatchHealth & Medicine--The 2009 American Health Care Reform Debate* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal Finance* TheologyEthics / Moral Theology

0 Comments
Posted November 25, 2013 at 11:14 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

In the Southeast, South Carolina ranked better than neighboring states such as Georgia, which posted 8.1 percent unemployment, Tennessee at 8.4 and North Carolina at 8.0 percent for October. Among the lowest jobless rates for states in the region were Alabama and Louisiana, both at 6.5 percent for October.

South Carolina’s largest employment gains included 2,600 additional jobs in manufacturing and 1,800 in construction.

College of Charleston economist Frank Hefner said the latest data is encouraging news for the jobs market.

“Back to the past, that’s where we are,” he said. “We are trying to make up for five years of lost activity, and we are getting back to those levels.”

Read it all from the local paper.

Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal Finance* South Carolina

0 Comments
Posted November 23, 2013 at 8:28 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The Church of England pays its top bureaucrat over £10,000 more than the Prime Minister receives despite launching a series of attacks on high executive salaries, it has been disclosed.

Papers laid before the Church’s General Synod, which has been meeting this week, show that eight lay officials across the Church’s London headquarters and its financial arm receive more than 100,000 a year.

Questions were raised about the level of pay for top Church officials after William Shawcross, chairman of the Charity Commission, recently warned that charities risk bringing good causes into “disrepute” by awarding further pay rises to chiefs on six-figure sums.

Read it all.

Filed under: * Anglican - EpiscopalAnglican ProvincesChurch of England (CoE)* Christian Life / Church LifeParish MinistryStewardship* Culture-WatchReligion & Culture* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPersonal FinancePolitics in General* International News & CommentaryEngland / UK

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Posted November 21, 2013 at 7:30 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

...what if the world we’ve been living in for the past five years is the new normal? What if depression-like conditions are on track to persist, not for another year or two, but for decades?

You might imagine that speculations along these lines are the province of a radical fringe. And they are indeed radical; but fringe, not so much. A number of economists have been flirting with such thoughts for a while. And now they’ve moved into the mainstream. In fact, the case for “secular stagnation” — a persistent state in which a depressed economy is the norm, with episodes of full employment few and far between — was made forcefully recently at the most ultrarespectable of venues, the I.M.F.’s big annual research conference. And the person making that case was none other than Larry Summers. Yes, that Larry Summers.

And if Mr. Summers is right, everything respectable people have been saying about economic policy is wrong, and will keep being wrong for a long time.

Read it all.

Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor Market

0 Comments
Posted November 20, 2013 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

WHAT if America were to scrap all its anti-poverty programmes—welfare, food stamps, unemployment benefits, the works—and replace them with an unconditional basic income (UBI) for everybody? Even in a Congress beset by less extraordinary levels of dysfunction, the idea would have little chance of becoming law. It’s fun to theorise, though. And if Switzerland approves a referendum to send all of its citizens $2,800 a month, the debate will have a fascinating new reference point.

Annie Lowrey’s article in the New York Times Magazine explains that both the left and the right have reason to favour a basic income. Liberals support the idea because it would elevate 50m Americans above the poverty line overnight. Some on the right, like Charles Murray, are keen to eliminate rent-seeking—and much of the federal bureaucracy—with a UBI that gives everyone the same government benefit. “A single father with two jobs and two children would no longer have to worry about the hassle of visiting a bunch of offices to receive benefits,” Ms Lowrey writes. “And giving him a single lump sum might help him use his federal dollars better. Housing vouchers have to be spent on housing, food stamps on food. Those dollars would be more valuable—both to the recipient and the economy at large—if they were fungible.”

The economic effects of a basic income are debatable. Some economists think a UBI would disincentivise work; others argue that it would enhance entrepreneurialism by easing the path to start a small business or switch careers.

Read it all.

Filed under: * Culture-WatchLaw & Legal IssuesPoverty* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPersonal FinanceThe U.S. GovernmentPolitics in General* TheologyEthics / Moral Theology

2 Comments
Posted November 19, 2013 at 8:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Among the potential sites for the work are the South Carolina plant opened in 2011 where Boeing assembles some 787s, as well as plants in Salt Lake City, Utah, and Huntsville, Alabama. All of those sites are in “right to work” states with weak union rights and are currently unionised.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* South Carolina

0 Comments
Posted November 14, 2013 at 11:22 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Veteran Chris Delplato wanted to be a firefighter for a long time.

"Ever since I was a little kid — [toy] truck and everything," Delplato says. But he only just got his dream job, after first joining the Navy and cruising around the Persian Gulf.

He was hired by New Jersey's North Hudson Fire Department, which brought on 43 veterans this year.

Read or listen to it all and also enjoy all 9 pictures.

Filed under: * Culture-WatchHistoryLaw & Legal IssuesPolice/FireMilitary / Armed ForcesPsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market

0 Comments
Posted November 11, 2013 at 8:01 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Elite business-school graduates are increasingly heading to work in technology over finance as the lingering aftereffects of the financial crisis—along with Wall Street's long hours and scaled-back pay—sends newly minted M.B.A.s elsewhere.

At Harvard Business School, 18% of job-seeking students landed tech-sector spots this year, up from 12% in 2012. A similar shift is under way at the business schools at Yale University and Cornell University, where the share of graduates going into tech more than doubled over the past two years.

Meanwhile, just 27% of Harvard Business School graduates took jobs in finance this year, down from 35% last year. That figure dropped to 16% from 27% at the MIT Sloan School of Management.

Read it all.

Filed under: * Culture-WatchEducationScience & TechnologyYoung Adults* Economics, PoliticsEconomyCredit MarketsLabor/Labor Unions/Labor MarketStock MarketThe Banking System/Sector* TheologyEthics / Moral Theology

0 Comments
Posted November 7, 2013 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

It has long been known that people are attracted to jobs which match their names. As examples may we present Lord Judge, a former lord chief justice, a New York lawyer called Sue Yoo and the late Cardinal Sin. Now research carried out by Cambridge University has established that people with names such as Prince and King are more likely to find themselves in positions of power.

The study examined the names and occupations of 222,924 people in Germany and discovered that people called Kaiser (Emperor) and König (King) were more likely to be managers. Would Mervyn King have become governor of the Bank of England if his name had been Higginbottom?

So it’s all the more remarkable that Nick Clegg has enjoyed such a successful career despite having a surname that means “horsefly”....

Read it all (subscription required).

Filed under: * Culture-WatchHistoryPsychology* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyAnthropology

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Posted November 3, 2013 at 4:01 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The Gallup Economic Confidence Index rose six points last week to -30. While this marks the second straight week of improvement since the end of the federal government shutdown, confidence is still well below the -15 reading Gallup found in mid-September, in the weeks before the shutdown. It remains sharply lower than the -3 reached earlier this year.

The latest results are for the week ending Oct. 27, based on interviews with more than 3,500 U.S. adults. The index represents Americans' net optimism about the economy, combining their views about current economic conditions and their perceptions of the economy's direction. The index has a theoretical maximum of +100 if all Americans think the economy is "excellent" or "good" and improving, and a theoretical minimum of -100 if all believe the economy is "only fair" or "poor" and getting worse.

Read it all.

Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentPolitics in General* TheologyAnthropologyEthics / Moral Theology

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Posted October 30, 2013 at 5:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Not long ago, I received, in a single week, three (3) invitations to write an original piece for publication or give a prepared speech in exchange for no ($0.00) money. As with stinkbugs, it’s not any one instance of this request but their sheer number and relentlessness that make them so tiresome. It also makes composing a polite response a heroic exercise in restraint.

People who would consider it a bizarre breach of conduct to expect anyone to give them a haircut or a can of soda at no cost will ask you, with a straight face and a clear conscience, whether you wouldn’t be willing to write an essay or draw an illustration for them for nothing. They often start by telling you how much they admire your work, although not enough, evidently, to pay one cent for it. “Unfortunately we don’t have the budget to offer compensation to our contributors...” is how the pertinent line usually starts. But just as often, they simply omit any mention of payment....

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Filed under: * Culture-WatchBlogging & the InternetGlobalization* Economics, PoliticsEconomyLabor/Labor Unions/Labor Market* TheologyEthics / Moral Theology

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Posted October 27, 2013 at 3:00 pm [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

The bishops might have been promoting a strictly Democratic line, but U.S. Senate Chaplain Barry Black was more ecumenical. Amid the shutdown, Rev. Black offered a daily prayer in the Senate chamber asking God to “save us from the madness. We acknowledge our transgressions, our shortcomings, our smugness, our selfishness, and our pride.” Later he condemned the “hypocrisy of attempting to sound reasonable while being unreasonable.” His listeners in one party no doubt assumed he was talking about the other side.

It is one thing to spiritually shame politicians, as Rev. Black did. Trying to do their jobs is another. The bishops and other clergy in the Circle of Protection go well beyond their competencies when they make such policy prescriptions. Speaking about the moral issues of the day is certainly within their pastoral purview, but the bishops’ calls to raise revenues (aka taxes), for instance, or eliminate “unnecessary” military spending are not.

Bishops routinely assert their authority as “pastors and teachers,” as Bishops Blaire, Gomez and Pates did, but according to the tradition of their own church, they have no teaching authority when it comes to politics.

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Filed under: * Culture-WatchReligion & Culture* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeCredit MarketsCurrency MarketsHousing/Real Estate MarketLabor/Labor Unions/Labor MarketTaxesThe Banking System/SectorThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentBudgetMedicaidMedicareSocial SecurityThe National DeficitPolitics in GeneralHouse of RepresentativesOffice of the PresidentPresident Barack ObamaSenate* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

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Posted October 25, 2013 at 11:11 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Ai Aoyama is a sex and relationship counsellor who works out of her narrow three-story home on a Tokyo back street. Aoyama, 52, is trying to cure what Japan's media calls sekkusu shinai shokogun, or "celibacy syndrome". Japan's under-40s appear to be losing interest in conventional relationships. Millions aren't even dating, and increasing numbers can't be bothered with sex.

Japan's under-40s won't go forth and multiply out of duty, as postwar generations did. The country is undergoing major social transition after 20 years of economic stagnation. It is also battling against the effects on its already nuclear-destruction-scarred psyche of 2011's earthquake, tsunami and radioactive meltdown. There is no going back. "Both men and women say to me they don't see the point of love. They don't believe it can lead anywhere," says Aoyama. "Relationships have become too hard."

Japan's punishing corporate world makes it almost impossible for women to combine a career and family, while children are unaffordable unless both parents work. Cohabiting or unmarried parenthood is still unusual, dogged by bureaucratic disapproval.

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Filed under: * Culture-WatchHealth & MedicinePsychologySexualityYoung Adults* Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor MarketPolitics in General* International News & CommentaryAsiaJapan* TheologyAnthropologyEthics / Moral Theology

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Posted October 24, 2013 at 6:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Clearly this payout trend is unsustainable, but what politician dare touch it?

Social Security is not that difficult a problem in theory (at least in comparison to Medicare), except for the politics of it all. Numerous things could be done to put the system in the green.

Possible Ways to Make Social Security Actuarially Sound

Raise retirement age
Raise or eliminate the cap on payroll taxes
Cut benefits
Collect Social Security on personal income
Implement a Tiered Cap structure
Means Testing

Democrats would oppose 1 and 3. Republicans might oppose all but 3. So, how does this mess end if politicians won't touch it?

Read it all and make sure to take a careful look at the charts.

Filed under: * Culture-WatchAging / the ElderlyYoung Adults* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe U.S. GovernmentSocial Security

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Posted October 22, 2013 at 7:00 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

2--At its root Social Security is, and always has been, an inter-generational transfer of wealth....

4--...since 2010 Social Security’s cash expenses have exceeded its cash receipts; negative cash flow last year was about $55 billion, according to the latest report from the system’s trustees. While credited interest is still more than enough to cover the deficit, that will only be true until 2020. After that, Social Security will begin redeeming its hoard of Treasuries for cash to continue paying benefits — as was the plan all along.

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Filed under: * Culture-WatchHistory* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe U.S. GovernmentBudgetSocial SecurityThe National DeficitPolitics in GeneralHouse of RepresentativesOffice of the PresidentPresident Barack ObamaSenate* TheologyEthics / Moral Theology

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Posted October 20, 2013 at 6:45 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

Almost half of all American women (40%) with children under the age of 18 are the primary or sole source of income in their families, according to a major Pew survey released this year. Back in 1960, the share was just 11%. It is a huge social shift.

Once, American mothers were dubbed "soccer moms". Then, after 9/11, we got to know the "security moms". Today's generation are the "breadwinner moms".

But to lump all these millions of women together is simplistic. This story of financial revolution is really two stories.

Read it all.

Filed under: * Culture-WatchChildrenMarriage & FamilyWomen* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPersonal FinanceThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* TheologyAnthropologyEthics / Moral Theology

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Posted October 19, 2013 at 10:35 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

With just two days to go before an Oct. 17 deadline to raise the nation’s debt limit, 51% of the public views a rise in the nation’s debt limit as “absolutely essential” in order to avoid an Half View Debt Limit Increase as Essential, More than a Third Say it is Noteconomic crisis, while 36% think the country can go past the deadline without major problems.

Public concern over breaching the debt limit deadline has risen only slightly from a week ago, when 47% said a rise in the debt limit was essential and 39% said it was not.

Those who see no dire economic consequences resulting from going past Thursday’s deadline are not only skeptical about the timing – most say there is no need to raise the debt limit at all. Nearly a quarter of all Americans (23%) – including 37% of Republicans and 52% of Tea Party Republicans – believe the debt limit does not need to be raised at all.

Read it all.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeCredit MarketsCurrency MarketsHousing/Real Estate MarketLabor/Labor Unions/Labor MarketPersonal FinanceStock MarketThe U.S. GovernmentBudgetThe National DeficitPolitics in GeneralHouse of RepresentativesOffice of the PresidentSenate* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

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Posted October 16, 2013 at 6:28 am [Printer Friendly] [Print w/ comments]

Posted by Kendall Harmon

...it is still foolish to ignore the leverage that the individual mandate gives opponents of Obamacare. America's healthcare system for the elderly (Medicare, plus Medicaid for nursing-home care) is already edging the country toward generational war because Washington will sooner or later be forced to choose between drastic limitations on coverage in those programs or drastic increases in taxes on the decreasing portion of working Americans. Now we're adding a parallel obligation on younger workers to subsidize healthcare for fiftysomethings.

What to do? The path of least political resistance is to tough it out, hoping younger households will be unable to figure out what's happening, or simply unwilling to throw in their lot with opponents of gay marriage, marijuana reform and the like. Alternatively, we could start paying attention to the building crisis as younger households scramble ever harder for a middle-class living standard.

And none too soon, because the signs of generational conflict are already appearing.

Read it all.

Filed under: * Culture-WatchAging / the ElderlyHealth & Medicine--The 2009 American Health Care Reform DebateYoung Adults* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeHousing/Real Estate MarketLabor/Labor Unions/Labor MarketTaxesThe U.S. GovernmentBudgetMedicaidMedicareThe National DeficitPolitics in General* International News & CommentaryAmerica/U.S.A.* TheologyEthics / Moral Theology

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Posted October 14, 2013 at 8:00 am [Printer Friendly] [Print w/ comments]




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