Category Archives: Labor

Scott Walker: Equal Opportunity Fencer

Canada, Economy, IMMIGRATION, Intelligence, Labor, Republicans

Republican presidential hopeful Scott Walker is an equal opportunity fencer. Reflexive, laboring to show he does not discriminate against Mexico, Walker showed himself to be a bit of a bumpkin. As follows:

Republican presidential hopeful Scott Walker has called building a wall along the border between the US and Canada a “legitimate issue”.

Illegal immigration and the security of the southern border with Mexico have been major issues in the Republican race for president, but the northern border has not been discussed.

Mr Walker made the comments in response to a question from a NBC News reporter.

“That is a legitimate issue for us to look at,” he said on Sunday.

Does the US have a problem with a deluge of illegal immigrants pouring over the Canadian border? No. Canada is a high-wage area. The US is a high-wage area. Latin America is a low-wage area. Migratory pressure, Mr.Walker, flows from low-wage to high-wage regions.


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Immigration Occupation Map

IMMIGRATION, Labor

This immigration occupation map is all over the place, in the sense that it seems to address only illegal migrant labor participation, but fails to make distinctions in said population. The other option is that all immigration is crudely conflated, and that high-tech immigration forms a very small part of the immigrant population. We knew that.

BUSINESS INSIDER.


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Yes, The ‘Banksters’ Are Bad, But So Is Greek Profligacy & Sloth

Debt, Economy, EU, Europe, Federal Reserve Bank, Labor, libertarianism

After midnight, tonight, Greece will turn into a pumpkin. The Eurozone nations won’t be bailing the country out again after the deadline. Or so they say. For the life of me, however, I can’t understand why some ostensibly rational libertarians have joined Max Keiser and Stacy Herbert at RT in shaking the fist at the “banksters,” on behalf of the Greeks robbed.

Because EU manipulations have hurt Greece the most, some libertarians have concluded that Greece is the most victimized. That’s but part of the picture. True, the “apparatchiks of the EU” have aimed to create “one nation under inflation.” The EU superstate is especially bad for the unproductive Greeks. The same can be said for the effects of the European central bank and its beneficiaries: they harm the Greek people most.

But why discount the simpler realities of Greek’s political economy? As even this (unhinged) article concedes, “Greece had been on a steady path toward bankruptcy for 25 years.” Why not Germany, the workhorse of Europe?

Greece is among the least productive and most profligate EU countries. It’s a messy habit of mind that ignores this reality in favor of an analysis of macroeconomics alone. Thus, for example, Greece has a population of about 11 million, close on one million of whom were in the employ of the public sector, in 2009.

Is that 10 percent?????????????????????????????????????????????????????? Do you know what kind of liability that creates in perpetuity in terms of pensions and perks? The sovereign debt crisis has since forced the government to fire some parasites, but you get the drift.

As far as I know, Greeks have not voted to leave the EU and restore their own currency. This would indeed make them more competitive. And the Greek people have elected a socialist government that is resisting cuts to the public pension system, changes in the parasites’ retirement age (ridiculously young), and flexibility in sclerotic labor markets, socialized by the people’s choice. Would the Greeks rather starve than work? It seem so.

More Greece facts: “Greece deal: Seriously, what’s holding it up?”


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UPDATE II: Lagging Labor Participation (Just Another Gov. Index)

America, Canada, Economy, Europe, Labor, Russia

About the decline in US labor-force participation, when compared to other developed countries: One would think that the US has to have an absolute greater labor participation percentage than the rest of the far-less vibrant, Third-Way, Western economies, given the vitality of our economy. What RT is screeching about pertains to the rate of decline in US labor participation rates. One would expect this to be more precipitous in our economy, given that extreme welfarism and interventionism in labor markets are newer here than in the already atrophied European economies.

RT Boom & Bust: “The US stands alone, at least when it comes to labor participation rates. If you compare America to seven other advanced economies, such as Canada, France, and Germany, it’s the only country that hasn’t shown gains in labor force participation over the past 15 years. That’s according to a new study out by the Federal Reserve Bank of St. Louis. Boom Bust’s Ameera David weighs in.”

First, Russia’s labor-force participation rate, if these figures are accurate, is better than expected:

“The World Bank provides data for Russia from 1990 to 2012. The average value for Russia during that period was 61.9 percent with a minimum of 57 percent in 1998 and a maximum of 67.2 percent in 1990.”

The OECD (Organization for Economic Cooperation & Development) ranks the Russian Federation at 68.2 participation rate, in 2011. Not bad.

The number of Americans not in the labor force, as of 05/08/2015, is a staggering 93,194K, “with the result being a participation rate of 69.45 or just above the lowest percentage since 1977.”

This still puts the US above all other developed countries, besides Sweden, Norway and Iceland whose participation rates are in the 70s.

These 2013-2014 values for G-20 Economies are somewhat different:

Labour Force Participation Rate – USA 62.60% Apr-2014
Labour Force Participation Rate – Japan 59.06% Mar-2014
Labour Force Participation Rate – Germany 60.40% Nov-2013
Labour Force Participation Rate – France 56.50% Nov-2013
Labour Force Participation Rate – Brazil 55.86% Mar-2014
Labour Force Participation Rate – UK 62.90% Nov-2013
Labour Force Participation Rate – Italy 49.20% Nov-2013
Labour Force Participation Rate – Canada 65.60% Apr-2014
Labour Force Participation Rate – Australia 64.81% Apr-2014
Labour Force Participation Rate – Spain 58.80% Nov-2013
Labour Force Participation Rate – Mexico 59.64% Nov-2013
Labour Force Participation Rate – South Korea 61.79% Mar-2014
Labour Force Participation Rate – Indonesia 66.90% Aug-2013
Labour Force Participation Rate – Turkey 49.12% Feb-2014
Labour Force Participation Rate – Argentina 60.53% May-2013
Labour Force Participation Rate – South Africa 57.13% Nov-2013

The Rest are Here …

UPDATE I (6/28): Labor Participation: Just Another Gov. Index.

Europe has all sorts of labor laws, increasingly creeping up on America. For example, job-sharing. Instead of firing, two individuals will be forced to “share” one job. Fewer work hours and less pay is involved, but “labor participation” is kept up artificially. Naturally, the more skilled occupations are less prone to this central tinkering.

Yes, productivity: I am told by my sources in high-tech hubs that while the great American companies will have one super-duper specialist working on, say, a niche design in a product; the Scandinavian competitors—countries that sport the highest labor-participation—will have seven experts working that niche in a product.

In other words, productivity in an American mega-company is way higher, with one man doing the work of seven. However, the obviously misleading labor-participation index will lag the more productive a country is.

UPDATE II: Via Facebook Thread:

John Clement: If the job participation rate is at 69.45% then why isn’t the unemployment rate at 30.55%?

Ilana Mercer: John Clement, we presumed that LPR is calculated on the basis of an estimation of the number of people who ought to be working. So if total employment is 100%, your point is a good one.


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