Thursday, July 20, 2017

Am I Missing Something? This Is Not A Headline Story? -- July 20, 2017

Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 233,000 for the week ended July 15, the Labor Department said on Thursday. That was the lowest level since February, when claims fell to 227,000, which was the best reading since March 1973.  

Jobs. From
  • first time claims: down 15,000 to 233,000
  • not even mentioned on mainstream media
  • forecast: 245,000 
  • Reuters says it was near a 5-month low and not even mentioned on mainstream media (it probably was; I probably just missed it) 

Max look:

Pensions Being Slashed

From cbsnews:
The Central States Pension Fund was the first to actually be approved for this triage under a 2014 law known as the Multiemployer Pension Fund Reform Act. Many pension advocates call it unfair.

"It was run through Congress in the dead of night, and President Obama -- who was supposed to be for the working class -- signed it," complained Burruel. The fund is overseen by attorney Kenneth Feinberg, known for dividing up huge settlements in cases such as the 9/11 terrorist attack and the BP (BP) oil spill in the Gulf.

However, it's not clear what would be fair. The hammer is falling on the private pension funds that are running out of cash. And those shortfalls have many reasons. "The stock market crash had a huge effect," said Outreach Director Joellen Leavelle of the Pension Rights Center. "Some plans lost billions." It was a loss from which they never recovered.

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