If Pittsburgh's economy is supposedly booming then why is the local civilian labor force at 1993 levels?
FRED Data Destroys Myth of Pittsburgh Economic Boom
If Pittsburgh's economy is supposedly booming then why is the local civilian labor force at 1993 levels?
JOLTS Openings - May 2017
CNBC: In a mixed report, employers are finally catching up with their hiring as job openings, at 5.666 million in May, fell back 5.0 percent and hiring, at 5.472 million, shot up 8.3 percent. The hiring total is a new record for this series while job openings are the second lowest of the year. Other movement in this report is a 1 tenth rise in the quits rate to 2.2 percent which hints perhaps at worker confidence and willingness to switch jobs which may be a positive for wage traction...
Reckless Consumer Borrowing Keeps Recovery Illusion Afloat
ECONODAY: Consumer spending has been modest but consumers did run up their credit-card debt in May helping to lift consumer credit outstanding by a larger-than-expected $18.4 billion. Revolving credit, which is where credit cards are tracked, rose $7.4 billion vs only $1.2 billion in April. Nonrevolving credit, where auto financing and student loans are the biggest factors, posted yet another sizable increase of $11.0 billion in May. Credit card debt may not be a plus for long-term consumer health, but it is one for near-term consumer spending and GDP...
The Kimmy Granger Stephanie Seymour Theory
Would it be socially acceptable right now for the daughter of a supermodel to go into porn? Could you ever see Kaia Gerber getting naked and sucking dick on camera? Not likely
But would guys get off on seeing a supermodel's daughter get fucked on camera? Would that type of performer be extremely positive for porn profits and social engineers?
Faced with that task, how do you create the perfect porn star...
Retail Sales - May 2017
ECONODAY: Consumer spending was unusually weak in the first quarter and doesn't look to be improving this quarter. Retail sales fell 0.3 percent in May vs Econoday's consensus for a 0.1 percent gain. Weakness riddles the report including a 1.0 percent drop for department stores, a 0.2 percent decline for autos, and a 0.1 percent dip for restaurants. Two readings that echo price contraction in this morning's consumer price report are gasoline stations, down 2.4 percent, and electronics & appliances stores, down 2.8 percent as phone prices continue to come down. Other readings are likewise very weak, at minus 0.3 percent excluding autos and no change when excluding both autos and gasoline. Control group sales are also unchanged (this excludes autos, building materials, gasoline and restaurants). Wages aren't showing any traction and neither is consumer spending. The consumer just hasn't been participating this year...
Pittsburgh Unemployment Rate - May 2017
Pittsburgh Post-Gazette: The Pittsburgh region’s seasonally adjusted unemployment rate rose one-tenth of a percentage point to 5.4 percent in May, as employment shrunk and people left the labor force, according to the state’s monthly workforce report released Tuesday. For the fifth consecutive month, the labor force shrank from the year before — which could be a troubling sign for labor economists that more people have given up looking for work in 2017...
Initial Claims - Week 26 2017
ECONODAY: Jobless claims remain solidly stable at historic lows. Initial claims did inch 2,000 higher in the June 24 week but the 4-week average fell slightly to 242,250 and continues, as it has for the last 2 months, to hold in a tight range near 240,000. Continuing claims also inched higher to 1.948 million in lagging data for the June 17 week with this 4-week average moving to 1.939 million which is slightly above recent trend. The unemployment rate for insured workers is unchanged at 1.4 percent. There are no special factors in today's report which once again underscores the strength of demand for labor...