August 19, 2011

BLS State Jobs Report: Ohio Has 79K Jobs Added Since Jan. 1, Unemployment Rate Jumps to 9.0%

Filed under: Economy,Taxes & Government — Tom @ 5:27 pm

So is the half-full part of the glass more important than the half empty-part?

Here’s the seasonally adjusted half-full news:

Top9SAemploymentStates1210to0711

Ohio is still number nine in the nation in percentage employment growth this year. Michigan (a newly-red state), Massachusetts (which passed public-sector cost reforms not long ago), and Rhode Island (too small to matter) moved ahead of it in July.

It will be interesting to see the not seasonally adjusted numbers, which I will look at this evening. (Update: They were less impressive than I would like to have seen. The overall decline (which typically happens in July) was a bit more [-33.5K] than a year ago [-29.8K], but better than every other July from 2000-2009. The private sector pickup was essentially zero [vs. 15.5K in 2009], and was better than every other July from 2000-2009, except in a virtual dead heat with 2004.)

The unemployment rate went to 9.0%, and relates to a problem I noted on a nationwide basis a week or so ago, namely that employment and the labor force per the Household Survey (used to determine the unemployment rate) are heading down, while employment per the Establishment Survey (used to determine the “official” employment number) is heading up (as seen in the graphic). That’s a countrywide problem (28 states saw their rates go up, 13 stayed the same, and 9 went down).

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UPDATE: The BLS noted that payroll jobs (i.e., per the Establishment Survey) were up in 31 states, and down in 9.

One of the biggest losers was Illinois, which lost 24,900 jobs, the second month in a row of significant losses. Pat Quinn’s and Illinois Democrats’ high-tax chickens appear to be coming home to roost.

Quick Hits (081911, Morning)

Filed under: Lucid Links — Tom @ 9:28 am

Headline I thought I’d never see, at least until the POR (Pelosi-Obama-Reid) Economy arrived — “Mortgage rates make new lows, but nobody cares.”

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Pethokoukis at Reuters:

The White House’s worst-case scenario for the economy on Election Day next year has become Wall Street’s baseline scenario. After looking at a string of weak economic reports and Europe’s growing fear of debt meltdown and contagion, JPMorgan – led by Obama pal Jamie Dimon – has just come out with a politically poisonous forecast.

The megabank now thinks the economy won’t grow much faster over the next 12 months than it did during the first half of this year — and that’s assuming Europe doesn’t go all pear shaped. It sees GDP growth at just 1.5 percent this year, 1.3 percent next year with unemployment at … 9.5 percent heading into the final days of the election season. “The risks of recession are clearly elevated,” the bank said.

Yet from what I understand, the only thing the clown in the White House wants to propose is to double or triple down on even more stimulus with money we don’t have. And he’ll get around to it in, oh, maybe, September.

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Too bad I won’t be able to see the numbers on state employment today until early evening. They will be here at 10 a.m. It will be interesting to see if certain red states continue to separate themselves from the rest of the country, especially the “newly-reds,”, or whether they start getting dragged into the rest of the economy’s muck.

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The Financial Times’s Gavyn Davies asks, “What Went Wrong with the Global Recovery?” Unfortunately, he gets it wrong. The real answers are easy: We had the wrong people in charge who chose the wrong solutions and made things even worse than they already were.
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From the “You’ve come a long way baby” Dept.

  • In DC — “Flash Mob Robberies Continue”: “In the latest incident, 10 women stormed the Shop Express convenience store along Benning Road in northeast Washington at about 3:15 a.m. Thursday. … Store employees said this was the third such incident at the store in the past couple of weeks.”
  • In Philly — “New Video Surfaces Showing Unprovoked Attack by Philadelphia Teens”: “A new video has surfaced showing a group of teen girls attacking a worker outside City Hall in Philadelphia, myfoxphilly.com reports. The video, shot in May, shows a woman being attacked in broad daylight. … In the video, the girls are seen laughing, screaming and even dancing.”

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At Expatica“Cars torched in Berlin for fourth consecutive night.” The remarkable thing about this headline is that I don’t recall having seen one about Days 1, 2, or 3. What most Americans don’t realize is that car torchings are routine events in many major cities in Europe.

As to why:

“We don’t rightly know the reason for it,” police spokesman Guido Busch told AFP.

“But we believe it is mostly the work of a single person, or a single group of people, and that it is vandalism with no political motive,” he added.

Ann Coulter can explain it.

Positivity: Actions That Make Heroes

Filed under: Positivity,US & Allied Military — Tom @ 6:00 am

From Oregon, and South Carolina:

August 08, 2011

Medford man returns rare handgun to Medal of Honor winner (and MOH winner returns the favor — Ed.)

A historic Colt .45-caliber, semi-automatic pistol stolen more than 30 years ago from a Medal of Honor winner in South Carolina has been returned to its rightful owner.

The gun and owner were reunited after a history buff in Medford, who bought the old handgun in an online auction last month, tracked down the retired Marine whose name is engraved on it.

“I knew if I found him and it was his gun, I couldn’t keep it,” said George Berry, 71, who knew little about the history of the gun when he purchased it from an auction house in Pennsylvania.

The story begins when Berry, a retired Navy warrant officer who also served in the Marine Corps, decided this summer to fulfill a lifelong dream of owning one of the historic handguns.

“I’ve always wanted to own a Colt Model 1911 .45 automatic — always wanted one,” he says. “John Wayne had one in every World War II movie I’ve ever seen him in.”

Early in July, he began searching the Internet and discovered that Alderfer Auction, a well-known auction firm in Hatfield, Pa., would be offering three of the Colt .45s in a July 12 auction.

In particular, lot No. 78 caught his eye: “Colt 1911 A1 semi-automatic pistol. Cal. 45. 5″ bbl. SN 0103889. Reblued finish on all metal, plain walnut Colt grips, after-market rear sight, no magazine,” the description read.

“Faint ‘USMC’ stamped on right side of slide, partial ‘United States Property’ wording is visible,” it continued. “The name ‘John J. McGinty USMC’ stamped on left side of slide. Very good.”
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