July 31, 2014
A job seeker (R) meets with a prospective employer at a career fair in New York City, October 24, 2012. REUTERS/Mike Segar
By Lucia Mutikani
WASHINGTON (Reuters) – U.S. labor costs recorded their biggest gain in more than 5-1/2 years in the second quarter and a gauge of trends in the jobs market fell to an eight-year low last week, bolstering the economy’s outlook.
Though economists cautioned against reading too much into the rise in the employment cost index, they said a tightening jobs market suggested wage growth would soon accelerate significantly.
“If the unemployment rate keeps declining, compensation pressures simply have to increase. Most members of the Federal Reserve appear to believe it will be a lot later and not very rapidly but I am not that sure,” said Joel Naroff, chief economist at Naroff Economics Advisors in Holland, Pennsylvania.
The Employment Cost Index, the broadest measure of labor costs, rose 0.7 percent. That was the largest gain since the third quarter of 2008 and followed a 0.3 percent increase in the first quarter.
It is one of Fed Chair Janet Yellen’s favorite labor market gauges and is being closely watched for clues on the timing of the first interest rate increase from the U.S. central bank.
Fed officials on Wednesday acknowledged the improvement in labor market conditions, but said “significant underutilization of labor resources” remained.
Economists, who had forecast the employment cost index increasing 0.5 percent in the second quarter, are critical of the Fed’s views on the labor market, particularly wages, as anecdotal evidence of companies raising wages increases.
“We do expect to see a steady inflection higher in wage growth going forward that we think will call into question the Fed’s contention,” said Ted Wieseman, an economist at Morgan Stanley in New York.
In the 12 months through June, labor costs rose 2.0 percent. They had advanced 1.8 percent in the 12 months through March.
Wages and salaries, which account for 70 percent of employment costs, increased 0.6 percent in the second quarter. That was the largest gain since the third quarter of 2008 and followed a 0.3 percent rise in the first quarter.
Wages and salaries were up 1.8 percent in the 12 months through June after rising 1.6 percent in the 12 months through March. Benefit costs jumped 1.0 percent in the April-June period, the largest increase since the second quarter of 2011
FIRMING LABOR MARKET
In another report, the Labor Department said the four-week average of initial claims for state unemployment benefits, considered a better gauge of labor market trends as it irons out week-to-week volatility, fell 3,500 to a seasonally adjusted 297,250 last week, the lowest level since April 2006.
While overall claims increased 23,000 to 302,000 last week, that reflected difficulties smoothing out volatility from the data around this time of the year because of automobile plant shutdowns for retooling.
“The pace of layoffs is slowing, reflecting the need on the part of companies to retain more workers in the context of improving economic activity,” said Anthony Karydakis, chief economic strategist at Miller Tabak in New York.
The economy rebounded strongly in the second quarter after contracting in the first three months of the year. Growth is expected to remain on a faster path for the rest of the year.
Separately, the Chicago Business Barometer dropped 10.0 points to 52.6 in July, the lowest level in just more than a year. Managers, however, viewed the downturn, which was the largest since October 2008, as a lull rather than the start of a new downward trend.
July 29, 2014
WASHINGTON (Reuters) – U.S employment growth likely retained enough momentum in July to help buoy the economy for the rest of the year.
Nonfarm payrolls probably increased by 233,000 this month, according to a Reuters survey of economists. That would be a step down from June’s hefty increase of 288,000 jobs and the monthly average of 272,000 jobs gained in the second quarter.
It would, however, be the sixth straight month that employment has expanded by more than 200,000, a stretch last seen in 1997. The jobless rate is seen holding at a six year-low of 6.1 percent.
“It looks like employers are not shy about adding to head count. The recovery is on solid ground and we are expecting the data to show that in the month of July,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York.
Second-quarter gross domestic product data on Wednesday is expected to show the economy expanding at a 3.0 percent annual pace, rebounding from the first-quarter’s weather-related 2.9 percent slump.
That pace of growth is expected to be sustained for the remainder of this year, and economists point to the solid job gains as evidence for their optimism.
“Due to the strength in the labor market, we maintain that the weakness in economic growth in the first quarter is a one-off event and the trend in the labor market better represents the current direction of the economy,” said John Silvia, chief economist at Wells Fargo in Charlotte, North Carolina.
The Labor Department will release its monthly employment report, which is closely watched by financial markets around the globe, at 8:30 a.m. EDT (1230 GMT) on Friday.
EYES ON FED
The firming labor market – corroborated by steady declines in new weekly applications for unemployment benefits and independent surveys showing increased hiring – raises the risk of the Federal Reserve increasing interest rates sooner and a bit more aggressively than financial markets currently anticipate.
Fed Chair Janet Yellen warned of that possibility earlier this month.
Most economists look for the first increase in the second quarter of next year. [ECILT/US] The Fed has kept its benchmark lending rate near zero since December 2008.
The private sector is expected to account for the bulk of the employment gains in July. Government payrolls are expected to increase modestly after increasing by 26,000 in June.
Employment in the manufacturing sector is forecast increasing by 15,000 after adding 16,000 jobs in June. Economists, however, said factory job gains could surprise on the upside as data from automakers suggest strong production in July.
Construction employment could accelerate a bit, but weak housing starts during the month pose a risk to the downside.
Some moderation is expected in services industries employment growth, led by the retail sector.
Average hourly earnings, which are closely monitored as a signal of labor market tightness, are expected to have increased 0.2 percent. That would leave the annual rate of increase at 2.2 percent, still well below the levels that make Fed officials nervous.
But gains in recent months suggest wage growth has been quickening.
“The last couple of prints on average hourly earnings have almost rounded to a 0.3 percent increase, which would be consistent with a faster annual pace of growth closer to 3 percent than the 2 percent we have been seeing,” said Laura Rosner, an economist at BNP Paribas in New York.
The length of the average workweek is forecast steady at 34.5 hours, but could surprise on the upside because of strong auto production.
(Reporting by Lucia Mutikani; Editing by Paul Simao)
July 25, 2014
Fresh off the heels of its legal victory over Samsung last week, Apple named 8 Samsung smartphones yesterday that it wants pulled from stores and banned in the United States.
The legal verdict, which awarded Apple $1 billion after a jury found that Samsung infringed on 6 Apple patents, sent shockwaves throughout the mobile industry. Yesterday Samsung stock closed down 7.5% in South Korea, rival handset maker HTC, which also uses the Android OS, slipped 1.9% in Taiwan. Shares of Google also sank 1.4% in the U.S.
- Samsung’s Galaxy S 4G
- Galaxy S2 (AT&T)
- Galaxy S2 Skyrocket
- Galaxy S2 (T-Mobile)
- Galaxy S2 Epic 4G
- Galaxy S Showcase
- Droid Charge
- Galaxy Prevail
Do you own a Samsung device? Do you feel the verdict was fair? Are you more likely to switch to an iPhone now? Please post a comment below?
June 25, 2014
A hidden detour waits beneath vastly accelerated pace of 21st-century Information Highways to set secret baits for hapless travelers on the fastest lanes in Cyberspace. Best known as “sensory bombardment,” this insidious foe executes its M.O. with non-stop exposure to mass quantities of novel concepts and emergent trends. If left unchecked, the disorder results in full-blown sensory deprivation by blocking all knowledge assimilation of recent developments with direct relevance to each Web surfer.
Fortunately, new-age technology provides its own best prevention with numerous inventions to filter infinite audio/visual input to a few essential data without disruption of manual intervention. Glean the best means to auto-optimize time management by feasting your eyes on the high-tech tools outlined below.
Automated schedule assistant
Google Calendar integrates many great features for regaining and retaining full control over even the busiest schedule filled with dozens of daily, weekly and monthly tasks. Upon receiving emails related to upcoming meetings or other significant dates, merely select “create an event” from a dropdown menu at the top of your g-mail inbox. An adjacent tab opens instantly that displays all pertinent details in pre-filled text input fields.
At that point, you may set recurring auto-emails or desktop pop-ups to remind you of specific details about prescheduled events. Even better news is that you can choose separate frequencies for each recurring reminder that range between 1 minute and 30 hours. Moreover, no multiple manual re-entries are required to receive reminders of recurring events like weekly computer scans or monthly conferences. Instead, check a “repeat” button underneath the date just once during initial entry to activate recurring reminders that auto-generate at any desired time interval.
Still another pair of particularly handy Google Task tools are free downloadable multiple calendars to view future events while offline and guest invitations to any given event that may be sent via email with a single mouse click. Finally yet importantly is a free lab add-on that self-installs in seconds and creates an automated chronological daily schedule that arrives each morning via email at exactly 5:00 o’clock sharp in your local time zone.
Vast value of task timers
A huge array of freeware and cheap shareware apps is freely available in both Web-based and downloadable formats that let users set deadlines for individual tasks far ahead of time. For instance, Gmail integrates Google Tasks, a compact interface to get a bird’s eye view of itemized “To Do” lists by glancing at the bottom left corner of your screen.
Sub-entries can be nested under each numbered task to note extra info like completion deadlines or related emails and website URLs. Google Tasks even features customized multiple lists for centralized storage of different sets of similar data. For example, you might name one list “Unpaid Monthly Bills” and give another group of tasks a title like “Pending Projects.”
Expedite extraordinary oversight
Various high-tech implements are designed to personalize time management. Thus, you may put weekly budgeting chores on autopilot. On the other hand, you might choose to write and schedule emails for delivery well in advance. Your speed might be reconfiguring RSS feeds for selective delivery of data to your email inbox with nary a mouse click needed for timely news receipt that will never vary.
Final word on future-generation time management automation
Although finding the right high-tech tools with features and capabilities that best suit your specific needs requires an initial time investment, long-term ROI well justifies relatively miniscule acquisition cost. In fact, this author can personally attest to that fact. Early on in my career, I hesitated several weeks to spend a few hours locating free browser add-ons and extensions specially geared toward facilitating great literary works.
Final yielding to persuasion and persistent prodding from colleagues proved quite prudent, however. After spending nearly 6 hours of an 8-hour workday to read about and install several apps that are specially designed to assist online content writers, I witnesses a rise in gross income equal to almost 20 hours of extra effort – without one nanosecond of self-directed overtime!
This delightful equation of enhanced earnings potential was possible only with exceptionally increased productivity enabled by advanced electronics technology. Take a very valuable vicarious lesson from my experience. Put new-age technology to the task of solving age-old time management problems today!
June 14, 2014
Why you have to employ professional options broker?
Digital options purchasing and selling is one among the almost all lucrative investment possibilities you can buy nowadays. Because the fresh market rules declared inside 12 several weeks 2008, the development of options swapping has truly skyrocketed and an infinitely more people are usually growing his or possibly her purchases into options. Because of the temporary possibilities and greater returns on people possibilities, Digital options trading is becoming one of the most popular market expense options.
Traders may trade twenty numerous hrs and seven days each week inside options industry. In the actual very identical time, you will see a brandname-new uncomfortable reality running this kind of investment. One have to have thorough understanding concerning the present market habits to acquire elevated returns within their assets. Plus this specific marketplace is highly energetic and volatile within character which indicates a good need to retain continual eyes round the latest news and around the world market incidents. This really is really in which a reliable and specialized options broker platform may assist traders to create easy and reliable trades instantly.
How to be able to Select an experienced Options Broker?
Because of have the ability to the particular constant rise within the status of options swapping chances, there might be an growing requirement of reliable in addition to professional options broker programs. Regrettably, you will find generally numerous digital options cons present out truth be told there that try that you should sell your traders difficult to depend on and untested options broker platforms. This might bring regarding serious deficits to have the ability to the sellers because of insufficient specialist as well as reliable binary purchasing together with selling computer software. FO428353DF55
While determining on the reliable in addition to professional digital options broker software, you have to inquire with regards to the following features in addition to needs that lots of effective binary trading software program possess.
Important Options Broker Functions you have to maintain in your mind
1. Straightforward in addition to intuitive gui — Professional and reliable binary swapping system offers simple and straightforward to deal with person interface that saves considerable time and headache regarding traders. There’s generally you don’t need to take a position additional time and to understand new functions as well as controls inside your program. Most connected using these programs are internet based and customers do not need to lower load or bring up-to-date your buying and selling software applications individually Pc. Customers should have the energy to make use of the program very easily wherever and whenever they require. User warm and friendly along along with interactive controls are among the most significant ones which we ought to notice while selecting the best options broker system.
2. Capacity to create opportunities into numerous assets – Reliable as well as professional binary swapping software program offers models including property for that investment purpose. A trader are capable of invest into a number of market assets via foreign exchange, indices to be able to stocks in addition to shares and goods. One must be aware from the ability within the particular program to take a position into all of the offered market assets to understand optimum profits with the particular trades.
3. Access of appropriate expiry occasions : Some binary swapping brokers provide once seven days expiry periods despite the fact that supply hourly as well as finish during the day options thus therefore to their traders. To attain maximum command around the positions, it’s really vital that you simply discover the binary swapping software that gives greatest expiry occasions.
4. Finest payment percentage — Professional and popular electronic options brokers present greatest payout percentage therefore to their traders. You have to browse the binary purchasing and selling platform which might provide minimum 75% for your you 90% payment percentage for each won and missing expense. For each not successful industry, there should finish up being cheapest 5% for you to 10% returns in your traders.
5. Types of ‘languages’ offered – To obtain simpler using the actual usage of the particular binary purchasing as well as selling software applications, it is essential the word what from the particular program need to be your own personal personal mother tongue. You will find generally some specialist options broker websites available inside the market that offer models connected with languages from British, Arabic, The spanish language, Russian, Turkish, etc.
6. Minimum first deposit needs Body should be capable of available binary purchasing and selling account using the particular website free of charge and don’t require offer initial tissue. Look regarding individuals people binary buying and selling platforms which will provide cost-free sign ups and minimal deposits.
7. Types of payment options : Expert options buying and selling systems provide kinds of payment techniques for example Paypal, bank change, charge card, etc. Look relating for this type of binary in addition to electronic options broker that provide several forms including payment withdrawal options.
8. Greater register bonuses – Some digital options broker present as much as have the ability to 25% bonus products for his or her retailers that in addition depend on total turnover and original deposit sum out of your traders. Look regarding this type of trading platforms offering elevated bonuses that you should their people.
9. Top class customer service – Top quality customer support is every bit vital that you simply acquire timely support as well as assistance throughout all sorts including trades. Professional electronic purchasing together with selling brokers in addition to platforms always provide client support throughout types connected with languages and via numerous platforms this kind of as email, live talk, and cell phone support.
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June 13, 2014
Credit ratings around australia are ready with a specialized agency supplying information regarding the loan good reputation for an individual. The loan worthiness of the applicant may be the primary identifying factor for loan companies. Particulars regarding accounts, previous financial loans, bankruptcy or no, late obligations and cheques bouncing because of inadequate money is checked out through the agency. Any arrears of obligations are listed like a default on the file of the character. If an individual has past poor debt payment, they’ll be treated like a high credit risk customer, and perhaps declined credit or might finish up having to pay a greater interest rate. The present system around australia covers just the negative credit information. It’s being stated that positive credit information is going to be incorporated within the file shortly.
How credit rating is completed in Australia
The 2 primary credit confirming agencies around australia that credit rating are Veda advantage and Dun & Bradstreet. Loan companies calculate an individual’s credit rating to evaluate the danger they pose for them when it comes to payment. The greater the score, the low may be the interest rate offered. The credit rating is dependant on a scale of -1000 using the average credit rating being 750. Credit ratings around australia can handle stopping loan companies from giving money or passing on in a greater interest rate people must check their report every so often just to make sure that everything is needed. Supplying particulars for example title, address, birth date and license number is ample to obtain a copy from the report. Mostly, default entries and historic information can’t be taken off a credit history unless of course it is known as wrong.
Managing debt takes actions to lessen debt
Some managing debt solutions include reducing charge card debt the initial step to reducing all debt. Moving debt for an zero interest card is yet another managing debt solution that may be checked out. This process is going to be appropriate only when the customer finds it easy to pay back all of the debt on inside a recommended period of time. Giving the financial institution standing instructions regarding charge card payment is a great step that removes all overtime charges. Debt consolidation reduction loan is the best way to lessen debt, because it has numerous advantages in one plan.
How people enhance their credit rankings
If you will find any errors inside a credit history, people immediately make contact with the confirming agency with recorded proof showing the mistake made. Having to pay promptly and having to pay lower financial obligations increases the likelihood of a higher rating. Unused accounts without any negative reviews also play an important role in improving a person’s rating. Individuals using a mix of credit types obtain scores increased up. Mixture of credit types would come with getting a vehicle loan, house mortgage and efficient utilization of charge card. Getting an addition on charge card with perfect history likewise helps to some large degree.
Author has years of experience of article writing. He is easily the most celebrated and acclaimed author in financial sector. His many articles happen to be released online. Now he’s supplying info on credit rating Australia and managing debt solutions online.
June 13, 2014
Are you always falling behind in your bills? You can’t find any money after payday? You’ve thought about using your credit cards or taking out a loan just to keep food on the table?
This article can help you then to get you into the mindset of thinking of running personal finance affairs and your home like a business. If you do that and run your home or personal finances like a corporation does. Your life will become much easier and you will find money and resources you never knew you had. You say you don’t know how to do those things. Great! Then you will learn some new skills along the way.
I will offer up a simple solution and 3 optional plans A, B, and C you can follow if you so choose. Each will do the job with varying degrees of sophistication and costs. You need a model to work off. The simplest way to run a household or a business is to have a model to work from. To most people that means a spreadsheet. You can get many templates to do this from the internet. You can then do it way millions of other people are doing their finances. You could also do it with a ledger, which is the way it has been done since Dickens’s day in”A Christmas Carol.”
I prefer a third alternative and that is to use multiple notebooks I call:
Plan A: The Economy Approach
- Notebook 1 – General Ledger – Money in Money out.
- Notebook 2 – Home Inventory – Items – Value.
- Notebook 3 – Code #s to define your activities in your life and home.
- Order book – Keep track of exactly where all the money is going by order #.
- Notebook 4 – Keep Track of your time.
In the Business world, this would be called 100% activity reporting.
You are forced to:
Inventory your Assets and Codify your activities.
You discover where your money and resources are going and what you really have available.
By tracking your time you find the time thatyou are wasting. and thus allows you to budget and conserve it.
Time lost can never be replaced.
At first, it will be awkward and your family will not be happy with it or you. But, stick with it and it will become automatic. You will then start to discover where things can be cut and reallocated to save time and money.
Plan B: A Simpler Method
Plan B would be considered the midsize version. It has more options, is simpler, and has absolutely everything you need.
It’s called Business in a Box. Yes, I know you are working on a home budget. But, a home is a business and so is your life and job as well. After 2008, everything has changed and it is time for you to change to compete in a tougher market economy.
Business is a box is 1300 formatted forms that are used to start a business. One of the first forms is a home budget all ready for you use and fill in. In fact, in the older version I own, I used to actually run a business and I only used four of the forms under General Administration. This package will get you into business habits that run a successful home as well as a business.
Here it is for you to look at:
But, there of course is Plan C to consider.
Plan C: The Full Sized Option
My Ultimate Solution to running a home budgeting was to automate everything and here is how I did it. I had my boss way back when order me a copy of QuickBooks Pro and I created amulti-million dollar computer network for her using it to plan, budget and order hundreds of servers and support systems.
I have since bought and used it formy home and personal consulting businesssince 1996.
I mean Pro not the checkbook or any of the cutdown stuff. If you are going to run a professional business or a home your can’t skimp. Here it is: http://search2.quickbooks.com/quickbooks-a?gclid=CNuCtvHx6b4CFZRffgodBEoAVQ&cid=ppc_G_Exact_US_QBDT_US_B_QuickBooks Desktop_Exact_Tier2_G_S_quickbooks pro_txt&ef_id=Uzz26wAAAVDmZBqd:20140608084534:s
The neat thing is you can download it for free and play with it to see if everything I am going to tell you nest is crazy or not.
When it comes up, it will ask you for name and business name etc…
What you want to do is select a service business with the product option. You will get a bewildering number but keep those two options in mind.
This gives you the ability to enter services and products into an inventory.
Now you have options to fill in budget information, which is then indexed and codified for you. (See simpler already). It now also will maintain your banking and inventory of household goods and activities.
This is why I said choose both options. You now have an automated system that runs your home just like a company.
House repairs become Job proposals and job orders with estimates that print out. You now know how much a new pool will cost out, as it becomes a job order. So planning becomes a snap.
Time tracking becomes automated as well. You will start to see where you could again reallocate your time to get things down and not have to rob Peter to pay Paul.
We used to call that the 7Ps. Look it up on the internet. http://en.wikipedia.org/wiki/7_Ps_(military_adage) It is just as true now as when I was serving my country.
You now have Plans A, B, C that can handle any Home budgeting need you will ever have to face. Your home will start to stabilize and if you should desire it, you could quite easily explore actually running a home based business, as you will already have developed many of the skills needed by running your home like a business.
I would call that an education that is worth the price and a Win-Win for you and your family. But if you don’t have enough money to start your business try taking out a loan to get your business up and going. Run your home like a business, you will have more money, free time and peace of mind knowing that you are doing the necessary things to guide your home safely and have it survive in these uncertain waters of the 2nd decade of the 21st century
Your home will start ot stabilize and if you should desire it you could quite easily explore actually running a home based business as you will already have developed many of the skills by running your home like a business.
I would call that an education that is worth the price and a Win-Win for you and your family.
June 12, 2014
As I discussed in a post yesterday morning, President Obama used an executive order to expand the Pay As You Earn program, which caps a borrower’s monthly payment at 10% of their discretionary income, and forgives their remaining balance after 20 years, but which prior to today was only good for students who fulfilled these two criteria:
- No student loans taken out before October 2007
- Some student loans taken out AFTER October 2011.
It’s unclear from the President’s official remarks what criteria Pay As You Earn will take on now, but he referred in his speech to opening up eligibility to “nearly 5 million more Americans.” This number is far less than the 37 million Americans the New York Fed counted in a 2012 report, but it’s certainly a big expansion.
Pay As You Earn vs. Income Based Repayment
Heretofore the best option available to all borrowers had been Income Based Repayment, which was similar, but less generous.
Rather than cap payments at 10% of discretionary income as Pas As You Earn does, Income Based Repayment caps payments at 15% of discretionary income (Note that “discretionary income” is defined as income less 1.5 x the Health and Human Services Poverty Guidelines for your state and family size).
Rather than forgive remaining balances after 20 years of on-time payments as Pay As You Earn does, Income Based Repayment forgives the remaining balance after 25 years.
An IBR-PAYE comparison with numbers
So what does this mean in numbers?
Let’s walk through an example of someone who finishes school with $60,000 in student loans and an annual salary of $50,000.
Under the Income Based Repayment option, they would pay $406 per month and after 25 years, they would have the remaining $2,978 forgiven. Over the course of those 20 years, they would send away $122k in payments.
Under the Pay As You Earn option, they would pay just $271 per month and after 20 years, they would have the remaining 23,428 forgiven. Over the course of those 20 years, they would send away just $65k in payments; that’s about half the total payments under Income Based Repayment!
It’s pretty clear to see how this can be a great option for certain borrowers. Sadly, according to the official remarks (Link to the entire video), the new eligibility will likely not go into effect until December 2015.
Filed Under: Paying for school