05-12-2017, 11:06 PM
According to the Bureau of Labor Statistics, the U.S. economy generated 211,000 net new jobs in April, bringing total job creation in this labor market recovery to over 15 million. That is a large number, but at this stage it still falls behind the labor market recovery of the 1990s and is a far cry from job creation during the recovery of the 1980s. Still, at 79 months old, one cannot deny that this has been a lengthy and impressive cycle thus far.
Keeping our heads above water: Wage gains barely outpace inflation | TheHill
If the US economy is ever going to reach breakout speed, it's got some serious work to do — literally. Amid a raft of other economic data that has been mixed to trending lower as of late stands one number: a punk productivity level that is holding back economic growth. The trend is important as it stands as likely the primary divider between the acceleration that President Donald Trump has projected against the reality that has been the case for most of the past decade. "The persistent decline in productivity growth represents one of the most important medium-term global economic challenges," analysts at Moody's said in a lengthy report on the issue released Thursday. "Slow productivity growth, along with population aging, implies that future output growth will be materially slower than in the past."
The economy can't break out because of low productivity
As the market receives seemingly conflicting news about the state of the economy, Jim Cramer sifted through the uncertainty to find the market-movers that really matter. On Wednesday, the market soared on a strong jobs report from ADP, but the Federal Reserve's minutes coaxed the bears out of the woodwork and sent interest rates plunging. To make matters worse, House Speaker Paul Ryan indicated that passing tax reform may take even longer than health care. "His statement really crushed things. We know that his statement is the kiss of death for the industrial and financial bull," the "Mad Money" host said. And with the Labor Department's nonfarm jobs report coming on Friday, Cramer said now is as good a time as any to exercise discipline and not chase any investments.
Cramer pinpoints three market-movers that should set off warning bells
Glance at a map and you’ll realise that Spain – sitting, as it does, along the same longitude as the UK, Portugal and Morocco – should be in Greenwich Mean Time (GMT). But Spain goes by Central European Time (CET), putting it in sync with the Serbian capital Belgrade, more than 2,500km east of Madrid. So why are Spaniards living behind their geographic time zone? In 1940, General Francisco Franco changed Spain’s time zone, moving the clocks one hour forward in solidarity with Nazi Germany. For Spaniards, who at the time were utterly devastated by the Spanish Civil War, complaining about the change did not even cross their minds. They continued to eat at the same time, but because the clocks had changed, their 1pm lunches became 2pm lunches, and they were suddenly eating their 8pm dinners at 9pm.
BBC - Travel - The real reason why Spaniards eat late
Some travelers in the U.S. are about to get even less comfortable in the skies. Seats on some American Airlines AAL, +0.11% forthcoming Boeing BA, -0.03% 737 Max jetliners will now come with two inches less of legroom in coach, CNN reported this week. The “pitch,” or distance between the seats, was previously 31 inches and will now shrink to 29 in three rows of these airplanes. The rest of its main cabin will see the pitch decreased from 31 to 30. (American did not immediately respond to request for comment for this story).
American Airlines to shrink legroom for these coach passengers - MarketWatch