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FIGURES on employment tend to encourage a black-or-white view of an economy. Either conditions are worsening and firms are shedding workers, as they did by the hundreds of thousands in 2008 and 2009, or times are improving and businesses are creating new jobs. Spirits leapt on February 3rd on news that America’s private businesses boosted their payrolls by 257,000 jobs in January, capping the country’s best 12-month employment performance in the private sector for over five years. But the headline figures represent just the tip of a large labour-market iceberg. Data provided by the relatively new Jobs Openings and Labour Turnover Survey (JOLTS) illuminate these depths.

Even in the darkest of days, labour markets remain busy. Growing firms hire to expand and even shrinking businesses seek out workers to fill important vacant positions. In December 2008, for instance, overall American employment dropped by nearly 700,000 jobs.

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Long before Survivor’s Richard Hatch, those who become accidental millionaires run the risk of ending up in jail. Not so for Parijat Saha who didn’t fall prey to the temptation to spend the $9.8 billion that suddenly appeared in his bank account. He simply notified the bank that made sure the funds would not be subject to withdrawal until they fixed the error. That may be the last time the $700/month teacher will ever see that amount of money come his way, but at the very least he didn’t end up taking the money and running with it like others before him. It brings up the point: What is the standard procedure after discovering a huge bank favor in your error? If you try to return the money and the bank doesn’t act quickly, you can easily fall victim to your own greed. That’s what happened to Herbert Starbird.

Honesty Can Still Pay

Once the money is available in your account, you do have the ability to remove it, whether the bank recognizes it is not yours or not at that moment.

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A new survey by Australian banking major ANZ suggest that the number of job advertisements jumped by their largest monthly rate since February 2010.

According to the ANZ job advertisement survey, the number of job advertisements placed in major newspapers and on the internet increased by 6.0 per cent in January. For the year ending January the growth was more moderate, posting a 0.7 per cent rise.

Ivan Colhoun, who runs Economics and Property research for the lender said that the trend could be attributed to increased activity in the mining areas of the Northern Territory and Queensland.

“The awaited significant acceleration in mining investment is now beginning to boost labour demand in these states. We remain mindful of the usual problem of significant volatility in the monthly data over the December-January holiday period.

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Tags: Number, Number Jobs

China’s inflation rate rose in January, which may dash hopes that the country’s central bank will soon take more action to support economic growth there.

Consumer prices rose 4.5% over a year ago, China’s National Bureau of Statistics reported Thursday, marking a pick-up from a 4.1% inflation rate the month before.

The uptick in inflation is likely a temporary blip related to the Lunar New Year.

Prices often pick up due to heightened demand for goods and services during the holiday. Common traditions include big feasts, giving friends and family red envelopes full of cash, and a lot of travel, as migrant workers in the major cities often return to the countryside.

Just a year ago, curbing high inflation was one of the government’s top priorities. It raised lending requirements for banks and made it harder for investors to buy multiple homes — a factor that was driving up the price of real estate in big cities.

Those policies appear to have worked. Read more…

Tags: Inflation Rate, Rate