The Jobs Report
I’ll take it: 108,000 added in December; 90,000 more added to November’s original 215,000 for a new November total of 305,000; unemployment dipped to 4.9%.
Part of why I find the news OK is that I’m assuming the track record of adding lots of jobs to previous months will continue in future months. I understand caution, but this continued adding of large numbers of jobs to previous months makes me wonder about BLS’s data collection methods.
Time Inc.’s Business Magazines Get Their Act Together–Three Years (Too) Late
Techdirt reports, and makes an obvious point:
Business 2.0, Fortune and Money magazines have all done away with the subscription wall, meaning all their content, including archives, are now open to the public. It’s about time. However, for the past two and a half years, all three properties missed out on tremendous opportunities to establish themselves as superior brands, since they took themselves out of the conversation.
It was worse than that with Money, which managed not only to cut off non-subscribers but also alienated existing subscribers. Their magazine and web content weren’t in sync, meaning that I would often find good content in the magazine that wasn’t on the web, and that I therefore couldn’t save. I cancelled my subscription a year ago.
H&R Block Botch: SSNs Included in Mailing Tracking Number
This is breathtakingly weak, and a customer had to tell them about the problem:
Some H&R Block customers who received free copies of the company’s TaxCut software also had their Social Security numbers exposed, according to a company spokesperson.
H&R Block sent a letter to customers in late December saying that a tracking number used on packages containing TaxCut contained the customer’s Social Security number as part of a unique, 47-digit tracking number.
H&R Block blamed user error for the slip and said the number would be impossible to spot, and that no customer data has been lost or stolen as a result of the mistake, according to Denise Sposato, a spokesperson for H&R Block.
H&R Block learned of the slip-up in late December, after a customer informed the company that a unique ID that appeared on the package, above the mailing label, contained his or her Social Security number.
….. The Kansas City, Mo., company said it believes that less than 3 percent of those who were mailed a copy of TaxCut had their Social Security numbers used.
I saw a Block commercial last night that said something like “if we make a mistake, you don’t pay.” It would be nice to think that it might apply to anyone negatively affected by this pitiful screwup.
French Leaders “Optimistic” about Mediocre Economy
They’re trying to put a happy face on an economic growth rate that would lead to a political wipeout of the party in charge in the US:
The French economy grew 0.7 percent in the 2005 third quarter from the previous quarter, final official data showed Tuesday, putting France on track to achieve 1.5 percent growth for the full year.
The national statistics institute INSEE, publishing final figures for its November 18 estimates, confirmed its previous estimate of 0.7 percent expansion in the third quarter from the second.
It also revised slightly higher, by 0.1 point, the full-year growth forecast to 1.5 percent.
Most EU countries report the raw GDP growth figure each quarter, while the US figure is annualized before its release. So the 0.7% third-quarter growth in France is really 2.8% annualized, which is very decent, but the full-year forecast of 1.5% is not only mediocre, it’s probably overly optimistic because of the impact of the October riots.
While US growth chugs along at 3.5% or so, a separate Expatica article looks at future growth: “In a report that urged caution when interpreting recent data showing robust expansion in France, the OECD predicted growth this year of 1.6 percent rising to 2.1 percent next year and 2.2 percent in 2007.” Pretty weak.
Just another in a long line of reasons why we don’t want to “just like them.”