Asset Management & Market Research

Weekend reads & daily charts ...

We scour the best of publications that cover the markets & economy, the world of business & finance, asset & wealth management, monetary & fiscal policy, Europe & Asia, the news & politics, science & technology … and throw in a bit of arts & entertainment, just to keep it light. Here’s what we found particularly compelling in the last 24 hours:

One dissenting view on Larry Summers: NYT Editorial Board (NYT)

El Erian: Answers To 4 Key Questions About Today’s Jobs Report (BI)

Overdrive: How America’s Amazing Car Recovery Explains the U.S. Economy (Atlantic)

Why Microsoft Had To Buy a Phone Company (New Yorker)

Succinct Summation of Week’s Events (The Big Picture)

Early Look: Chinese Economy Likely Had a Good August (RealTimeEconomics)

Germany: “Too big for Europe, too small for the world” (The Economist)

Pew Research: Public Opinion Runs Against Syrian Airstrikes (Pew Research)

Lipper: another big outflow week for ETF investors (Alpha Now)

Rising Bond Yields Look Bleak For Equities (MoneyBeat/WSJ)

How Fed Policy Has Devastated Three Generations of Retirees (Mauldin)

Why the VIX Could Stay Low for a Long Time (Shaeffer’s)

How low interest rates have capped hedge fund returns (Turnkey Analyst)

Football and the Fall of Jack Kerouac (The New Yorker)

Poll: Majority Of Americans Approve Of Sending Congress To Syria (The Onion)

The charts below are courtesy of the WSJ, The Federal Reserve (FRED), Sober Look and Bloomberg Briefs (ht Business Insider). The latter 3 charts combine to provide an excellent perspective on the long term jobs problem this country faces.

The Fed’s chart gives us the long view of declining participation rates, whereas Business Insider gives us the skinny on labor force participation by age group. The overall rate dropped to 63.2% from 63.4% in July, the lowest figure since August 1978. This chart from Bloomberg’s Michael McDonough breaks out labor force participation by age since 1990. Youth employment (ages 16-19) has seen the steepest decline, followed by ages 20-24. That said, the labor participation rate for those aged 16-19 fell last month to 34.0% from 34.9% in July. Why? Kids are likely staying in school for longer (or avoiding work altogether) thanks to a tough labor market. On the other hand, the 65-and-over crowd has seen the sharpest uptick in participation. The financial crisis bled retirement savings, forcing older Americans to stay on the job for longer.

 

china WSJ !!!!

 

labor force participation FRED !!!

 

(1) Labor force participation vs unemployment rate  SOBER

 

labor (a) force parti BL Briefs by age group !!!!!!

 



Author: Kevin Lane

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