Flap’s Links and Comments for October 19th through October 20th

These are my links for October 19th through October 20th:

• Jobless Claims Straddle Key Level; Big Upturn Still Elusive – New claims for unemployment benefits fell last week and a gauge of labor market trends hit a six-month low, a government report showed on Thursday, pointing to an improvement in the jobs market.

  Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 403,000, the Labor Department said, from an upwardly revised 409,000 the prior week.

  Economists polled by Reuters had forecast claims falling to 400,000 from the previously reported 404,000.

  The claims data covered the survey week for the government's closely watched nonfarm payrolls count for October.

• An Unprecedented 26 Million Americans Are Now Underemployed – While the number of unemployed workers has held steady at around 14 million in recent months, another telling measure of frustration in the labor market—the number of underemployed individuals—rose for a third consecutive month in September, by almost a half of a million people.

  Almost 9.3 million Americans are considered underemployed, defined by the Bureau of Labor Statistics as working part-time for economic reasons, such as unfavorable business conditions or seasonal declines in demand.

  That's up from just over 8 million in July, but down from a peak of about 9.5 million in September 2010. In addition, about 2.5 million individuals are considered "marginally attached to the labor force," meaning they were not in the labor force, wanted and were available for work, and looked for a job sometime in the prior 12 months. (They are not counted as unemployed because they had not looked for a job in the past four weeks prior to the survey.)

• US ‘Misery Index’ Rises to Highest Since 1983 – An unofficial gauge of human misery in the United States rose last month to a 28-year high as Americans struggled with rising inflation and high unemployment.

  The misery index — which is simply the sum of the country's inflation and unemployment rates — rose to 13.0, pushed up by higher price data the government reported on Wednesday.

  The data underscores the extent that Americans continue to suffer even two years after a deep recession ended, with a weak economic recovery imperiling President Barack Obama's hopes of winning reelection next year.

  Inez Stallworth, an underwriting assistant for a financial services company, recently gave up her car, in part because of rising costs for gasoline and groceries.

  "I can't fit it in," said the 27-year-old Chicago resident, who said most of her extended family was getting by "paycheck-to-paycheck." Consumer prices rose 3.9 percent in the 12 months through September, the fastest pace in three years.

  With gasoline prices high, consumers have less to spend on other things.

  Moreover, a rise in overall prices saps economic growth, which is typically measured in inflation-adjusted terms.

  The last time the misery index was at current levels was in 1983.

• @Flap Twitter Updates for 2011-10-20 | Flap’s Blog – FullosseousFlap’s Dental Blog – @Flap Twitter Updates for 2011-10-20 #tcot #catcot
• Update: Ad Pulled – President 2012: Mitt Romney Releases Rick Perry Debate Blopper Video Which Asks: Is Perry Ready to Lead? | Flap’s Blog – FullosseousFlap’s Dental Blog – Romney Pulls Perry Attack Ad which ridiculed his debate performance bloopers:
• President 2012: Mitt Romney Releases Rick Perry Debate Blopper Video Which Asks: Is Perry Ready to Lead? | Flap’s Blog – FullosseousFlap’s Dental Blog – President 2012: Mitt Romney Releases Rick Perry Debate Blopper Video Which Asks: Is Perry Ready to Lead? #tcot #catcot
• President 2012: Rick Perry Attacks Mitt Romney on Immigration – Really? | Flap’s Blog – FullosseousFlap’s Dental Blog – President 2012: Rick Perry Attacks Mitt Romney on Immigration – Really? #tcot #catcot
• Flap’s Links and Comments for October 18th through October 19th | Flap’s Blog – FullosseousFlap’s Dental Blog – Flap’s Links and Comments for October 18th through October 19th #tcot #catcot