| nsohbknsmi | Date: Thursday, 28 Nov 2013, 2:40 AM | Message # 1 |
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| Perhaps my many awful jobs during secondary school and college deliver a bias, but I've never understood how anyone could resist raising the minimum wage. Every few years, the state and federal forces insist that employers give five million or so janitors, fry cooks and housekeepers several extra bucks each week, while business interests wake up in arms about regulation, and government control, and employment. Actually, this time around there must be bigger issues to talk about, because there's not much of the fuss. But people that look at the facts realize it doesn't matter much on the overall economy.Economists around the far left and right are eternally desperate to fight over two issues: rent control and the minimum wage. The arguments are simple to understand: one side contends that government imposition of minimums or maximums distort industry, while the other insists they may be necessary to get young adults started working, as well as to save the less fortunate from exploitation. (I'd personally insert a picture of Statler and Waldorf to represent the complaining business interests, but could not get clearance on short notice.)Soon, however, the U.S government prevails, with the increase in the federal minimum wage to $7.25 by the hour, from the $6.55 legislated this past year. There has been a minimum wage in position since 1938, which reached $ 1 in the middle 1950s.When men landed around the moon in 1969 i was washing dishes in the faux-colonial restaurant in Washington Crossing, Penn., it was about $1.75. But I managed to hit the peak: inflation adjusted, the minimum wage has been falling since the late 1960s, albeit with a recent recovery, shown from the first graph below (due to Oregon State University).The 2nd graph, also from OSU, blogs about the annual rate of getting the minimum wage to the poverty level since its establishment in 1959. Minimum wages have not been sufficient to improve a family out of poverty only when one member of the family works, reports OSU.As you may imagine, people working at or below minimum wage are generally young, female, undereducated, and concentrated within the southeast.Economists have carefully scrutinized the macro-effectiveness of imposing a nominal amount wage. For example, one economist with the Fed has led or took part in 10 studies of the minimum wage since 2000. Search the topic on the site of the National Bureau of monetary Research, and back come 1,200 results.This week's social justice, however, draws little notice in the usual critics. The Wall Street Journal noted a couple of seconds as an upcoming news release for your week, while in the NY Times it just rated a question within the EconoQuiz.Marilyn Geewax, the excellent economics editor at National Public Radio, has studied the niche for years. I called her at NPR headquarters. Apparently , a cousin of hers taught me a course in business school."Has anyone demonstrably measured a top in the unemployment rate from an increase in the minimum wage?" she asked. "No," she answered. The other? I inquired: "No, they don't really show that it helps much either."However, the federal minimum wage is also a benchmark for the wages of many other workers. In addition to the roughly five million workers that earned below $7.25 per hour prior to this increase, Marilyn notes, you'll find another 10 million that will get raises as a result. Actually, some individuals just get raises, while some will get more buy more work -- to generate up for those not hired.She writes: <When>the minimum wage] goes up, it raises the floor under all low-wage workers. That shift would affect another 10.5 million workers approximately, according to the Department at work.Even some conservative economists concede that research has revealed that modest wage hikes generally have statistically insignificant impacts on employment nationwide. Nonetheless they add that for the least-skilled workers, like teenagers, it will matter. Economist David Neumark in the University of California, Irvine, estimates that this year's wage increase will eliminate about 300,000 jobs for those between the ages of 16 and 24."Given your situation we're in now <with>quite high unemployment], raising the minimum wage just may seem like a particularly bad idea," Neumark said. Marilyn's article for the NPR website includes a vigorous discussion down the conservative-liberal lines of the minimum wage debate. sundance ugg boots
Watching soldiers firing their guns and beating die-hard protesters with clubs within the streets of Myanmar, a distraught man decried the bloodbath and pleaded for international intervention.With all the streets eerily quiet in Myanmar, also is known as Burma, Saturday following the military's brutal crackdown on three days of demonstrations, many protesters were losing hope and falling back on such familiar pleas for the aid of the outside world."The world cannot fail people of Burma again," said the country's Coalition Government with the Union of Burma, an exile group situated in Thailand. "Selfless sacrifices deserve greater than words and lip-service. They really want effective intervention before it is too late."It's a call made each and every time the pro-democracy movement has dared fully stand up against Myanmar's 45 a lot of harsh military rule, just to be crushed.Among those challenging the regime in the most forceful demonstrations in nearly twenty years still hope such help - during the form of U.S. bombing - may arrive. About 300 die-hard protesters marched down a street inside the Chinatown section of Myanmar's main city, Yangon, on Saturday, waving the peacock-emblazoned flags with the democracy movement. They dispersed when soldiers arrived.Monks and civilians called diplomats to are convinced that troops had shown up at three different monasteries late Saturday, but were prevented from entering by folks the neighborhood who massed outside them. The soldiers departed, but threats of returning in larger numbers.U.N. envoy Ibrahim Gambari also rushed to Myanmar on Saturday and was taken immediately to Naypyitaw, the remote, bunker-like capital the place that the country's military leaders are based. A pro-democracy uprising in 1988 was brutally crushed by Burma's military regime, reports CBS News correspondent Bill Whitaker. Since the junta ignored the condemnation with the outside world then, why are they going to listen to Gambari now? "The indisputable fact that there is a titular envoy of the U.N., which is inside Burma, got a visa, (makes me) more hopeful," said Maureen Aung Thwin from the Open Society Institute. "And also, things are deteriorating so fast, maybe they are going to grasp, you know, at whatever he needs offer." The White House urged the junta to allow Gambari to have access to Aung San Suu Kyi, the Nobel Peace Prize laureate who is under house arrest, and ordinary Myanmar residents.A lot of people in Myanmar said despite Gambari's visit, however, they're resigned to some repeat of the 1988 uprising once the international community stood by as thousands were gunned down."Gambari is coming, but I don't think whenever they much of a difference," said one hotel worker, who choose other residents asked to never be named, fearing retaliation. "We must find a solution ourselves."The demonstrations began a few weeks ago by people angry over massive fuel price hikes, then mushroomed to crowds of a huge number after the monks joined in.The junta, that features a long history of snuffing out dissent, started cracking down Wednesday, once the first of at least 10 deaths was reported, after which let loose on Thursday, shooting in a crowd of protesters and clubbing them with batons.The crackdown has triggered an unprecedented verbal flaying of Myanmar's generals from virtually every corner of the world - even some criticism from No. 1 ally China.But hardly anything else that might stay the junta's heavy hand is viewed in the foreseeable future. ugg boots mini
One in 12 full-time workers in the us acknowledges having used illegal drugs before month, the government reports.The majority of those who report using illicit medicine is employed full-time, with the highest rates among restaurant workers, 17.4 %, and construction workers, 15.1 percent, according to a federal study hitting theaters Monday. About 4 percent of teachers and social service workers reported using illegal drugs before month, which was on the list of lowest rates.The modern study finds many substance abusers operate in fields in which they have got high potential to harm themselves yet others, reports CBS News correspondent Nancy Cordes. The type of surveyed, construction workers and miners were almost certainly to admit heavy alcohol use — nearly two in 10 workers, adds Cordes."Their decisions, their inaction, their mistakes could cost you money, could cost an existence — any number of things can happen if someone's impaired," said Elmore Briggs, clinical director of Kolmac Clinic.Federal officials said the most recent survey is a snapshot and was not designed to show whether illicit drug usage at work is a growing problem or possibly a lessening one. The current usage rate is 8.2 percent. Two previous government surveys reflected a usage rate of 7.6 percent in 1994 and seven.7 percent in 1997, but those studies involved a lot smaller sample of interviews.The most recent study comes from the Drug use and Mental Health Administration, an agency within the Health and Human Services Department. The data is drawn from the agency's annual surveys in 2002, 2003 and 2004 in the civilian, non-institutionalized population. Each survey included interviews using more than 40,000 people, who were each paid $30 to participate.Joe Gfroerer, an agency official, said the majority of the illicit drug use involved marijuana.Anne Skinstad, a researcher and clinical psychologist, referred to as the survey's results "very worrisome" because there are fewer treatment programs than there was once to assist employees and employers which has a dependence on drugs.However, testing programs for drug use are fairly prevalent, with 48.8 percent of full-time workers telling the federal government that their employers conducted testing for drug abuse."I used to train supervisors to detect chronic use and intervene as soon as possible, and that is a very good, constructive way instead of firing people," said Skinstad, an associate at work professor and director with the Prairielands Addiction Technology Transfer Center with the University of Iowa. "Some employers want drug testing. I not really know that's the way I'd like to go. What I think I'd like to focus on is employee performance."The study also showed that the prevalence of illegal drug abuse reported by full-time workers before month was highest among younger workers.Nineteen percent of workers age 18 to 25 said they used illegal drugs costs month, compared with 10.3 percent among those age 26 to 34; 7 percent among those age 35 to 49; and a pair of.6 percent among those age 50 to 64.Men landed about two-thirds of the workers — 6.4 million — who reported using illegal drugs during the past month, the government said. Men were also more likely than women to report illegal drug abuse in the past month — 9.7 percent for guys, versus 6.2 percent for females.The study also looked at alcohol use by workers. About 10.One million full-time workers, or 8.8 percent, reported heavy drinking alcohol. Heavy alcohol use was defined as drinking five or more drinks on one occasion no less than five times in the past 30 days. bailey button ugg boots sale
Five years after the war in Iraq began, 43 percent of usa citizens surveyed by CBS News say the war is going at the very least somewhat well. But nearly six in ten Americans say the U.S. must have stayed out of the country in the first place. More Americans than in the past - 42 percent - say the troop surge in Iraq has created things better. In June, just 17 percent surveyed said all the. Thirty-four percent of Americans the surge has had no impact, while 13 percent say it has made things worse. The share of Americans who say the war is going well is ten points more than it was in September of a year ago. But the 43 percent figure represents a decline of 29 percentage points since May of 2003, right after President George W. Bush announced no more major combat operations in Iraq. See the Complete Poll ResultsAmericans remain divided over Iraq by party - 71 percent of Republicans say the war is going well, while only 26 percent of Democrats and 43 percent of independents agree.Thirty-six percent of Americans say the war in Iraq has made America safer from terrorism, while 24 percent express it has made America less safe. Thirty-eight percent voice it out has made no difference. Up to 50 % of all Americans - 46 percent - want large numbers of U.S. troops to depart Iraq within the next year. Twenty-two percent are able to have U.S. troops remain in the country for one to 2 yrs, and 28 percent are prepared to have troops remain longer than that.Fewer than one in three Americans approve of the way in which Mr. Bush is handling the war in Iraq. His 30 % approval rating for the war is unchanged from last month and closely matches the president's overall approval rating of 29 percent.Thirty-six percent of american citizens think the U.S. did what's right in taking military action against Iraq, while 59 percent believe the U.S. must have stayed out. In March 2003, nearly seven in 10 Americans said the U.S. did what's right. Just 31 percent of usa citizens think the U.S. really should have stayed to rebuild Iraq after Saddam Hussein was removed from power. Twenty-seven percent repeat the U.S. really should have pulled out of Iraq after removing Saddam, while 41 percent repeat the U.S. really should have never gotten involved in the first place.Twenty-eight percent of Americans believe Saddam was personally involved in the Sept. 11 attacks. That figure is down significantly since the spring of 2003, when over half of those surveyed said the former Iraqi leader was active in the attacks. Majorities of Americans appear confident in any of the three leading presidential candidates - Hillary Clinton, Obama and John McCain - to help make the right decisions about Iraq. Voters who agree to the job Mr. Bush is doing in Iraq and who think the U.S. action in Iraq was right express confidence in McCain, while those that disapprove of the job Bush has been doing in Iraq and who think the U.S. needs to have stayed out express confidence in Clinton and Obama._________________________________________________________________ This poll was conducted among a random sample of just one,067 adults nationwide interviewed by telephone March 15-18, 2008. Larger than fifteen due to sampling for results based on the entire sample may be plus or minus three percentage points. The big mistake for subgroups is higher. A little oversample of African Americans has also been conducted for this poll, for the total of 122 interviews among this group. The results were then weighted equal in shape to the racial composition with the adult population from the U.S. Census. The margin of error for African Americans is plus or minus nine percentage points. mulberry bella hobo
NEW YORK (MarketWatch) -- U.S. stocks declined in thin trading on Wednesday, as mixed retail sales, a stern warning from Target and downbeat housing data soured investors' mood. The Dow Jones Industrial Average declined 39 points, or 0.3%, to 13,511. With the Dow's 30 components, only nine were higher. On the list of biggest decliners were Vehicle , which fell 1.3% to $26.20, and Wal-Mart Stores Inc. , whose shares dropped 1.6% to $47.96.Shares of Exxon Mobil Corp. gained 1% to $94.62."Obviously, it's actually a little disappointment in retail sales and of course the market had a nice run-up going into Christmas," said Peter Cardillo, chief market economist at Avalon Partners. "It's a little bit of profit-taking. Volume is light. We're still on holiday trading volume with Europe closed," Cardillo said. The S&P 500 dropped 4.74 points, or 0.3%, to a single,491.77, while the technology-laden Nasdaq Composite fell 8.95 points, or 0.3%, to 2,704. On the New York Stock Exchange, over 172 million shares were traded, with declining stocks outpacing advancing stocks 9 to 5. Over 265 million shares exchanged practical the Nasdaq, with decliners beating advancers 16 to 9.Within a shortened trading session Monday, the Dow rose 99 points, or 0.7%, in order to complete at 13,549.33. Mixed retail salesU.S. Redbook chain store sales rose 1.2% for the week ended Dec. 22 in comparison with year-ago sales, but fell 0.7% within the December-to-date figures compared with the same period in November, according to Action Economics. "That news follows the mixed readings away sales figures up to now and news that focus on fell shy of sales forecasts, containing not inspired stock market trading this a.m.," the experience Economics analysts said. Retail shares declined, using the S&P Retail Index falling 1.6%. Shares of Target fell 2.9% to $50.92. The business warned on Monday that December sales at stores open a minimum of a year, a key industry way of performance, were running well below plan and may decline. Separately, hedge fund Pershing Square said Monday it boosted its holding in the discounter to nearly 10%. Holiday retail spending rose 3.6% from a year earlier, led by luxury-goods and electronic-commerce purchases, MasterCard Advisors LLC said on Wednesday.In other economic news, house values in 20 major U.S. cities were down 6.1% normally in the past year since October, according to the Case-Shiller price index released Wednesday by Standard & Poor's. Since October 2006, prices in 10 cities fell 6.7% -- an archive drop. The prior largest decline was 6.3%, reached in April 1991. "No matter how you look at these data, no doubt that the current state of the single-family housing market remains grim," said Robert Shiller, chief economist at MacroMarkets LLC and co-developer in the index. Shares of Berkshire Hathaway gained following your company said it will purchase 60% of Marmon Holdings, a commercial group owned by trusts benefiting people in the Pritzker family of Chicago, for $4.5 billion. Berkshire, a purchase firm controlled by the Omaha investor Warren Buffett, also will acquire the rest gradually over five to six years, with payment based on earnings.Shares of Merrill Lynch & Co. fell 0.3% to $53.75. It bank said on Monday that it's going to raise up to $6.2 billion by placing common stock with Temasek Holdings and Davis Selected Advisors. In other markets, gold futures surged $9.40 to $825.90 an oz on the New York Mercantile Exchange. Crude-oil futures also rallied, together with the February contract gaining $1.82 to $95.95 a barrel.In currencies, the dollar index, which tracks the performance of the greenback against a gift container of other major currencies, fell 0.6% at 77.160.European markets were closed on Wednesday to the Boxing Day holiday. In Asia, stocks finished mostly higher, ith Japan's Nikkei 225 ending at its highest level in two weeks as automotive shares such as Toyota Motor Corp. gained. By Polya Lesova bailey ugg boots
NEW YORK (MarketWatch) -- U.S. stocks were slightly lower Wednesday, as investors kept a cautious stance before the Federal Reserve's decision on interest rates and with technology shares under pressure after a bleak sales forecast from Cisco Systems.The Dow Jones Industrial Average was down 1 point at 13,308, with its 30 components evenly divided between advancing and declining issues. Weighing on blue chips, Disney & Co. dropped 0.9% as soon as the entertainment giant didn't generate as much revenue as analysts had forecast, though its 27% profit rise were only available in ahead of forecast.International Business Machines , another Dow component, rose 1% after being upgraded to purchase from neutral at Goldman Sachs as soon as the technology giant's buyback move.The S&P 500 index eased back 0.9 points to 1,506, while the Nasdaq Composite lost 10.1 suggests 2,561.Tech-leader Cisco Systems dropped 6.6% after predicting slowing revenue growth. The networking gear producer reported a 34% profit rise and 21% revenue rise. By sector, telecoms , networking , internet led the declines. Semiconductors , airlines , and gold fell.Trading volumes showed 417 million shares exchanging hands on the New York Stock trading game and 659 million for the Nasdaq stock market. Advancing issues topped decliners by 15 to 14 for the NYSE, while decliners topped gainers by 16 to 11 on the Nasdaq.Fed clocks inThe Fed is a result of announce its interest decision at 2:15 p.m. Eastern -- expectations on the market are that rates will likely be held at 5.25%. "The market is universally positioned because of this, with the only risk being that the Fed may change its language becoming a bit more bearish on the economy than the market expects," said Carl Weinberg, chief economist at High Frequency Economics.Time for pull-back?Investors are also consolidating a few of the market's record gains of history two months. Through Monday's close, the Dow industrials had matched a 80-year old record of advancing in 24 from 27 sessions. The typical fell back ."An acceleration in merger-and acquisition activity is mainly responsible for the stock market to surge higher, despite <slowing> earnings growth as well as the weaker-than-expected economic outlook," said Bob Doll, global chief investment officer at BlackRock."Such divergences are certainly not enough to warrant selling cyclical positions, nonetheless they do warn that the recent one-way ride up in equity prices could hit turbulence at any point in time," he said.Other marketsBonds rose slightly, sending yields lower, in front of the Fed decision. The benchmark 10-year Treasury bond rose 1/32 at 98 31/32, yielding 4.630%. Oil futures were down 10 cents at $62.16 a barrel before weekly inventory numbers. Gold futures also fell, losing 80 cents to $686.60 one ounce. On the metals scene, Rio Tinto climbed over 6% on market speculation the world's number one miner, BHP Billiton , launched a takeover offer. Rio Tinto said it isn't aware of any approach.The Rio Tinto gains come amid many consolidation moves in the metals sector, including Alcoa's $27 billion hostile bid for rival aluminum producer Alcan . Previously there has been speculation that Rio or BHP may try and buy Alcoa.Corporate newsAlso for the M&A front, at least three teams of private-equity buyers are circling Alltel , The Wall Street Journal reported Wednesday. Alltel rose 1.2%.Toyota Motor reported a 9% profit rise on 10% revenue increase in the January-to-March quarter, as U.S. and European sales growth offset flagging sales in your house. The stock dropped 0.7%.Toll Brothers , the luxury home builder, issued another profit warning, noting that tighter lending standards were affecting affordability at discounted points. Its shares were down 0.6%.News Corp. , whose $5 billion bid for Dow Jones & Co. was discloed yesterday, posted quarterly earnings of 27 cents a share, a 6.2% increase from the year earlier, and in line with analysts estimates. News Corp shares fell 1.6%.Dow Jones will be the publisher of this report.By Nick Godt mulberry factory
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