“Nerds are no longer the only ones benefiting from the innovation boom.

Having left the heavy-lifting to technology companies until early this year, San Francisco’s non-tech employers are playing a growing role in the city’s labor recovery. Positions in everything from retail to construction to hospitality now comprise about 75 percent of the city’s job growth, helping the Northern Californian hub add jobs at among the fastest rates in the nation and reduce its unemployment rate to 6.5 percent.”

Full article

“Nuveen Asset Management hired Robert Doll as chief equity strategist, less than six months after he announced his retirement from the same role at BlackRock Inc. (BLK), where he was known for his bullish stance on stocks.

Doll, 58, will also serve as senior portfolio manager directly overseeing about $1.5 billion and reporting to David A. Chalupnik, Nuveen’s head of equities, the Chicago-based company said today in a statement. Doll will offer a weekly markets commentary, just as he did at BlackRock, and continue his annual list of 10 market predictions, he said in a telephone interview today.”

Full article

Last weeks 439k was revised to 451k…..

“Foxconn has been planning to buy 1 million robots to replace human workers and it looks like that change, albeit gradual, is about to start.

The company is allegedly paying $25,000 per robot – about three times a worker’s average salary – and they will replace humans in assembly tasks. The plans have been in place for a while – I spoke to Foxconn reps about this a year ago – and it makes perfect sense. Humans are messy, they want more money, and having a half-a-million of them in one factory is a recipe for unrest. But what happens after the halls are clear of careful young men and women and instead full of whirring robots? What happens to China’s “burgeoning” economy?”

Full article

“(MoneyWatch) Large U.S. employers continue to eliminate traditional pension plans that pay retired workers a monthly lifetime pension in favor of defined contribution and hybrid plans that offer lump-sum payments at retirement, according to a recent survey HR consulting firm Towers Watson.

Among Fortune 1000 companies, only 11 percent still offer a traditional pension plan to newly hired salaried workers, down from 14 percent in 2011 and continuing a long slide from 90 percent in 1985. Conversely, in 1985 only 10 percent of those companies offered only a defined contribution plan to salaried workers — today that figure stands at 70 percent.”

Full article

Trade Balance is a smaller deficit of $41.5 billion

“Australian employers boosted payrolls more than economists forecast in October and theunemployment rate unexpectedly held as the nation weathered a global slowdown, sending the local currency higher.

The number of people employed rose by 10,700 after a 15,500 gain in September, the statistics bureau said in Sydney today. That compares with the median estimate for an increase of 500 last month in a Bloomberg News survey of 26 economists. The jobless rate was unchanged at 5.4 percent, compared with expectations for a rise to 5.5 percent.”

Full article

Top 10 fastest growing job opportunities for those willing to change or for those college students racking up debt…

Full article

Job growth across the board…

Full report

“NEW YORK (CNNMoney) — Don’t just call it a low-wage recovery.

It’s true that the economy has added a lot of low-paying jobs over the last two years. Restaurants and bars, which pay a median wage of just $9 an hour, have accounted for 15% of all the jobs created in the recovery. Retailers, which pay a median $11 an hour, make up another 9%.”

Full article

Q3 non farm productivity up 1.9%

Full report

“The latest layoff report from Challenger, Gray, & Christmas is out.

——

Job Cuts Surge to Five-Month High
OCTOBER JOB CUTS JUMP 41% TO 47,724

CHICAGO, November 1, 2012 – Planned job cuts surged 41 percent in October to 47,724, as a spate of layoff announcements in the wake of weak quarterly earnings reports helped push downsizing activity to its highest level in five months, according to the report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.”

Read more

Just how bad is it in Greece? If you glance at the t.v. now and then you might think a bunch of yogurt eating folk are protesting over loosing a cushy ride from government. Take a closer look and see how they are really living.

Full article

” Inflation in wages is not really present right now. A report for the third quarter showed that the Employment Cost Index slipped to +0.4% from +0.5% in the second quarter. Bloomberg was calling for a reading of +0.5% today, but that appears to be rounded up as the range was 0.4% to 0.5% for the third quarter. Dow Jones also had a consensus of 0.5% for the third quarter.”

Full report

“The markets may have been closed for two trading days this week due to the hurricane, but key economic data is still likely to be released this week from the Labor Department’s read on October’s unemployment and jobs. Each month we get a report from TrimTabs that aims to front-run or project job gains ahead of the formal report, and the projection from this group is that the economy added some 140,000 jobs in the month of October. TrimTabs is also saying that the BLS employment estimates lag the real-time economic data.”

Full article

Spain posted more bad news for its citizens as unemployment rose above 25%.

Full article

Fun times….

Full article

“Even if the US Labor Department has determined that the unemployment level has finally plateaued after months of staggering jobs statistics, the truth behind the numbers isn’t all that nice. Only four out of every 10 adults in the US is employed.

While the percentage of Americans filing jobless benefit claims isn’t what it was during an unemployment epidemic that ravaged the country throughout the majority of US President Barack Obama’s administration, the Labor Department’s numbers are largely inflated on account of how they determine what actually constitutes looking for work.

Officially, the unemployment rate in America for the month of September was only 7.8 per cent, but that statistic stems from only the number of citizens who have been actively searching for a paycheck. In reality, only around 5 per cent of the adult population in the US is unemployed in the eyes of the government, because they have been handing in applications during the four weeks before the Labor Department conducted their research. Additionally, another 3 per cent are interested in work, but haven’t actively engaged in a job hunting during that span, creating an unemployment figure of just under 8 per cent.

The real figures, however, reveal a much scarier statistic.”

Full article

“U.K. jobless claims unexpectedly fell and payrolls rose to a record high as the London Olympics helped boost hiring.

Jobless-benefit claims fell 4,000 to 1.57 million in September, the Office for National Statisticssaid today in London. The number of people in work surged 212,000 to 29.6 million in the quarter through August, the highest since records began in 1971. Separately, minutes of the Bank of England’s policy meeting this month showed that officials are divided on the need for more stimulus for the economy.”

Full article