CB,..Re:.The China Trade Pacts (PNTR/WTO) and the existing NAFTA (Mexico/Border Industrial Zones) have provided all the CHEAP LABOR that we will ever need, despite the unfounded imaginary fear of Alan Greenspan that we may be facing wage inflation, which is found no where in reality.
I'd be mighty interested in hearing how your cheap labor from Mexico and China fit in with the type of jobs that we are creating on a monthly basis here in the U.S.?
From the last employment report.
stats.bls.gov
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Employment in the services industry grew by 121,000 in April, in line with its average monthly gain for the prior 12 months. Business services added 55,000 jobs in April, following a similarly strong gain in March.
Within business services, help supply services added 46,000 jobs over the month, bringing its total gain since January to 94,000. Employment in computer services grew by 8,000; while still adding jobs at a rapid pace, the industry has experienced smaller employment gains since August 1999. Motion pictures rebounded from losses in the prior 2 months by adding 9,000 jobs. Employment also rose over the month in amusement and recreation services and in hotels. Engineering and management services employment showed little change in April.
Retail trade added 119,000 jobs in April. The largest employment gains were in eating and drinking places (80,000) and food stores (20,000). Eating and drinking places had shown virtually no change in employment
during the first quarter of the year; employment in food stores has had almost no growth for several years. Building materials and garden supplies stores lost 8,000 jobs in April, following an above-average gain in March.
Employment in wholesale trade was little changed in April.
Transportation added 27,000 jobs over the month, with the largest increases in trucking and warehousing, local and interurban transit, and transportation services. The gain of 10,000 jobs in trucking follows relatively weak growth in the first quarter.
Finance, insurance, and real estate employment was up by 7,000 in April. In finance, security brokerages added 8,000 jobs, while employment declines continued in mortgage brokerages. Since May 1999, mortgage brokerages have lost 33,000 jobs. In April, employment in both insurance and real estate was about unchanged.
Government added 107,000 jobs in April, largely due to the hiring of an additional 73,000 temporary workers by the federal government for Census 2000. Employment in local education increased by 33,000 in April, after
seasonal adjustment, following little growth in the first quarter.
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In the goods-producing sector, construction employment declined by 55,000 in April, seasonally adjusted, following a substantial rise in March. Because the March survey reference period was relatively late in the month, some of the spring hiring that usually occurs between March and
April was captured in March this year instead of April. Taking March and April together, construction employment rose by an average of 18,000 amonth.
Manufacturing employment was up by 11,000 in April, following a somewhat larger loss in March (after adjustment for the return of 15,000 workers from strike). In April, the largest employment increase was in electrical equipment (8,000), which has added 21,000 jobs thus far in 2000.
Fabricated metals and food products each added 5,000 jobs in April. Aircraft manufacturing employment continued on its downward trend with the loss of 4,000 jobs.
Mining added 4,000 jobs, as employment in oil and gas extraction continued to rise. Since its most recent low point in August 1999, oil and gas employment has grown by 20,000.
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Re:.despite the unfounded imaginary fear of Alan Greenspan that we may be facing wage inflation, which is found no where in reality.
check out the reality of the rate of change in benefits and wages as well as the consumption chain price index.
stls.frb.org
Additional info (monetary base, inflation, etc. )FWIW.
stls.frb.org
stls.frb.org
M1, M2, M3
stls.frb.org
inflation
stls.frb.org
Cheers,
Lee |
