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Daily Archives: December 17, 2014

BLS – Work Experience of the Populations 2013

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“A total of 157.0 million persons worked at some point during 2013, the U.S. Bureau of Labor Statistics reported [December 16, 2014]. The proportion of the civilian noninstitutional population age 16 and over who worked at some time during 2013 was 63.5 percent, little different from 63.8 percent in 2012. The number of persons who experienced some unemployment during 2013 decreased by 1.5 million to 20.9 million. These data are based on information collected in the Annual Social and Economic Supplement (ASEC) to the Current Population Survey (CPS). The CPS is a monthly survey conducted by the U.S. Census Bureau for the U.S. Bureau of Labor Statistics. The ASEC collects information on employment and unemployment experienced during the prior calendar year. Additional information about the CPS and the ASEC, including concepts and definitions, is provided in the Technical Note.

Highlights from the 2013 data:

  • The proportion of workers who worked full time, year round in 2013 was 66.9 percent, up from 65.5 percent the prior year.
  • The “work-experience unemployment rate”–defined as the number of persons unemployed at some time during the year as a proportion of the number of persons who worked or looked for work during the year–fell by 1.0 percentage point over the year to 12.9 percent in 2013.
  • About 4.8 million individuals looked for a job but did not work at all in 2013, down from 5.5 million in 2012…”

 

Option-Based Credit Spreads

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Culp, Christopher L. and Nozawa, Yoshio and Veronesi, Pietro, Option-Based Credit Spreads (December 15, 2014). Available for download at SSRN: http://ssrn.com/abstract=2538876 “Theoretically, corporate debt is economically equivalent to safe debt minus a put option on the firm’s assets. We empirically show that indeed portfolios of long Treasuries and short traded put options (“pseudo bonds”) closely… Continue Reading

Federal Reserve issues FOMC statement

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December 17, 2014: “Information received since the Federal Open Market Committee met in October suggests that economic activity is expanding at a moderate pace. Labor market conditions improved further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish.… Continue Reading

Library of Congress – Cinematic Treasures Named to National Film Registry

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“The horrors of war, the heroism of sacrifice, a vaudeville pioneer, the devil and a master of the macabre represent the diversity of an elite selection of films recognized for their cultural, historic or aesthetic significance. Librarian of Congress James H. Billington announced today the annual selection of 25 motion pictures to be named to… Continue Reading

Updated Death and Injury Rates of U.S. Military Personnel During the Conflicts in Iraq and Afghanistan

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Matthew Goldberg (CBO):  “In Operation Iraqi Freedom, which ended on August 31, 2010, some 3,482 hostile deaths occurred among U.S. military personnel and 31,947 people were wounded in action (WIA). More than 1,800 hostile deaths occurred during Operation Enduring Freedom (in Afghanistan and surrounding countries) through November 2014; about 20,000 more people were wounded in… Continue Reading

Small Area Income and Poverty Estimates Now Available

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“According to U.S. Census Bureau estimates released today, the poverty rate for school-age children had no statistical change in 2,199 counties between 2007 and 2013 while 928 counties experienced an increase and 15 showed a decline. The statistics are from the Small Area Income and Poverty Estimates program, which provides the only up-to-date, single-year income and… Continue Reading

New GAO Reports – DHS, Fair Labor Standards Act, FEMA. State and Local Govt’s, Tax Exempt Organizations

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Department of Homeland Security: Continued Action Needed to Strengthen Management of Administratively Uncontrollable Overtime, GAO-15-95: Published: Dec 17, 2014. Publicly Released: Dec 17, 2014. Fair Labor Standards Act: Extending Protections to Home Care Workers, GAO-15-12: Published: Dec 17, 2014. Publicly Released: Dec 17, 2014. Federal Emergency Management Agency: Opportunities Exist to Strengthen Oversight of Administrative Costs for… Continue Reading

NY Governor Cuomo Announces Ban on Fracking

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New York Times: “The Cuomo administration announced Wednesday that it would ban hydraulic fracturing in New York State, ending years of uncertainty by concluding that the controversial method of extracting gas from deep underground could contaminate the state’s air and water and pose inestimable public-health risks. “I cannot support high volume hydraulic fracturing in the great… Continue Reading

President Obama Announces New Policy on Cuba

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Fact Sheet – Charting a New Course on Cuba – see also NYT Graphic – How America’s Relationship With Cuba Will Change “Re-establish diplomatic relations Our diplomatic relations with Cuba were severed in January of 1961. The President is immediately reopening discussions with Cuba and working to re-establish an embassy in Havana in the next coming… Continue Reading