Income For Young, Middle-Aged And Elderly Americans, In Two Graphs

thedailyfeed:

Fishermen have the most dangerous job in the United States, according to new figures from the Bureau of Labor Statistics.

theatlantic:

5 Non-Partisan Job Creation Ideas That Could Actually Work

Address the housing market overhang with a new visa mechanism

The problem: Approximately 20 percent of homeowners owe more on their home than it’s worth. Households have depleted their savings and taken on additional debt in an attempt to remain in their homes, while many have decided to stop making mortgage payments. Rising shadow foreclosure inventory (delinquent homes that are not yet on the market), the prospect of falling prices, and tight loan requirements continue to exacerbate the housing overhang.

The solution: In order to absorb inventory, put a floor under housing prices or possibly boost them. Capitalize on pent-up foreign demand, by creating a new visa mechanism for the first two million non-U.S. residents to purchase a home in the U.S. in the price range of $200-500K, depending upon regional housing prices. Set the residency requirements at three months for the program to have maximum impact.

Read more. [Image: Reuters]

In fact, the U.S. economy actually lost 1.2 million jobs last month. There were 134.1 million jobs in June, and 132.9 million jobs in July. (The numbers are in this PDF.)

Why the massive gap between the number everybody is reporting and the actual number?

There are huge seasonal fluctuations in employment that occur in a predictable way, year after year. Retailers staff up before Christmas, and lay people off in January. Public school districts staff up in the fall — and let people go in July, after the school year ends.

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Actually, The U.S. Lost 1.2 Million Jobs Last Month

All businesses are cyclical, which makes it hard to hire effectively. Do you hire lots of people when times are booming, only to find yourself overstaffed when times are less great? Or do you underhire in the booms, depriving yourself of growth? Places like Goldman solve that problem the capitalist way: they simply staff to the cycle. When profits are going up, they hire; when profits are going down, they fire.

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Job insecurity at Goldman Sachs

theatlantic:

Go Midwest, Young Man: Indiana’s Plan to Steal California Jobs

Some Californians may have recently noticed an advertisement with a coffee mug and the word “Indiana” written in the milky latte foam. A crumpled napkin sits next to the mug with this scribbled on it: “Admit it, you find me fiscally attractive.” On another napkin it reads, “Indiana: low taxes, pro-business, fiscally responsible.”

Read more.

good:

According to a new Pew study, increasing your earning potential may require literally moving on up: If you aim to climb the income ladder in the United States, your best bet might be to move north and east—and definitely stay out of the south.

pewresearch:

More than eight-in-ten voters say the economy (86%) and jobs (84%) are very important issues in deciding who to vote for this fall.

Software engineer was ranked No. 1 in a list of the best jobs of 2012 published by CareerCast.com.

The career website ranked 200 jobs from best to worst based on five criteria: physical demands, work environment, income, stress and hiring outlook.

newyorker:

Cartoon of the day. For more cartoons from this week’s issue: http://nyr.kr/HdIkdW