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Tuesday, July 10, 2012
Why Were So Many "Crazy" Higgs Boson Stories Published?
The presumed discovery of the Higgs boson may be one of the most important scientific discoveries ever, but it did bring out quite a bit of "strange" science reporting. In addition to blogs, many mainstream news sites jumped on the crazy headline bandwagon. The ability to soon travel at the speed of light, the building of a Star Trek style transporter, and many stories of the particle proving God doesn't exist have made the rounds in the past week. Is the particle's discovery just on the fringe of common scientific knowledge and therefore prone to wild speculation, or does this all come down to having the most sensational headline?
Monday, July 9, 2012
Norway: A Political Risk Lesson For Oil
Oil markets are riddled with geopolitical risk. A sanctions hit Iran, a broken Iraq, a fiesty Venezuela, a corrupt Angola, a restless Russia, a worried Saudi Arabia ? we know the narrative well. But what markets continually overlook is the idea that political risk can be just as acute, if not more deadly in the most developed states of all. The latest workers strike in Norway provides a perfect example.
While all eyes were on the Middle East to see how sanctions deadlines played out, the oil price didn?t budge an inch. Any trader worth their salt would claim they had that one comfortably priced in; but when a bunch of fed-up workers in Oslo demand retirement at 62 with full pensions rights, the oil price shoot straight back to $102/b. We now face the prospect of 2mb/d of high quality, low-sulphur Norwegian production being shut in. Truly explosive stuff for the supply-demand balance. No one saw it coming.
The strike has already clipped Norwegian output by 15% with nine platforms being taken offline. The Norwegian Oil Industry Association hardly helped the situtation by threatening to end all national production if the strike wasn?t called off by midnight tonight (9th July). Someone will have to blink first, and the chances are, it?s going to be the Labour led Norwegian government to come up with a compromise solution. If they don?t, things are deemed so bad, that the International Energy Agency will step in to release the strategic petroleum reserve to offset any shortages.
That?s probably worth repeating just in case it didn?t fully sink in: what the US failed to conjure over Iran ? it could now get over Norway ? the IEA will release emergency reserves thanks to a pension dispute in the highest ranked nation on the UN human development index, with a vast $600bn sovereign (read pension) fund in the kitty. Worst still, even if some kind of arbitration panel manages to reach a settlement this time round, word on the ?Oslo street? is that there will be more disruptions in the coming months. With giant new Norwegian finds in the North Sea and the Arctic, Statoil needs to keep its workers on, riggers and engineers will want a pretty crown for doing so. You litterally couldn?t make this stuff up for Norway, or so you?d think.
Oil traders obviously missed a trick in all this, but the core problem is that political risk has always been mis-priced in developed markets. As the second largest gas exporter to Europe, Oslo?s outages should certainly give Brussels something?to think about, but it?s as the world?s fifth largest oil exporter where the real concern hits. Norway had similar strikes back in 2004 that were quickly dealt with, but it feeds into a far broader developed market resource trend. They all have a predation and penchant for political risk.
The UK treasury has always hiked royalties and taxes on North Sea prodcution to try and balance London?s budgetary books. France has just slapped a tax hike on its beleagured refining sector, while Australia has a long history of introducing overnight take hikes, most recently seen in the 30% Minerals Resource Tax. Canada remains remarkably picky about who it does business with; BHP Billiton couldn?t even get its bid for Potash beyond state legislators in Saskatchewan; political risk doesn?t play out with central governments in developed markets, it can also hit at sub-state and local levels ? especially where valuable resources are concerned.
Then of course we have the US. Forget the Unocal saga back in 2005, that?s old news. But what?s still very current is the ongoing fallout from BP?s Macondo spills. It brought the British major to its knees in 2010, and it?s still in the recovery room now. Compare BP?s Gulf of Mexico mishaps, to?Shell?s operations in the Gulf of Guinea (Nigeria), and?the contrast couldn?t be any sharper as a ?tale of two Gulfs?. Both have been serious environmental bloopers, but the?latter?remains a ?systemic? problem for Shell, the?former was a ?temporal? blow out for BP. Yet it?s on the shores of Florida, rather than the swamps of the Niger Delta that share prices have been hit, and oil prices corrected.
It comes as no surprise that Shell has already received far more international coverage by entertaining the notion that it will drill into Alaska?s Chukchi and Beaufort Seas (believed to hold anything up to 27bn barrels of oil) than it did in the Delta. Highly developed markets = highly developed (and sophisticated) levels of risk. The same dynamic will certainly apply if the US makes serious progress on shale oil, both for environmental demands entailed, and tax takes Washington will try to levy. Some will put all this down to mainstream media being more exacting over ?domestic? standards and what?s deemed a fair slice of the resource pie for advanced nations, but it still comes with the deep irony that markets don?t properly consider upstream risks in developed jurisdictions. Bottom line: when things wrong in ?pleasant places?, market knees always jerk.
As peculiar as that is, it presents an interesting operational rub for IOCs to ponder: The high risk propositions of old might actually become the ?lower risk? bets for the industry, precisely because frontier markets are already considered a ?basket case? of risk. If plays go drastically wrong, so what; it was to be expected. But get lucky and find a ?petrocrat? who knows what?s good for him,?then?oil will flow, policies remain stable; you end up quids in. Both seem a better idea than being caught on the wrong side of the fence in politically capricious developed markets. If that happens, you?re guaranteed one thing: You?ll pay a very heavy price.
Obviously that?s not to say the developed vs. developing energy world division is quite that simple. The iron law of any serious analysis is country risk first, sub-state risk second, project risk third. But the irony of ?nice Norwegians? giving? ?nasty Iranians? a free oil hand will certainly not be lost on the streets of Tehran right now. Risk is everywhere, but the most serious pockets tend to be where nobody has bothered to look.
Source: http://www.forbes.com/sites/matthewhulbert/2012/07/09/norway-a-political-risk-lesson-for-oil/
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Health Science: An Introduction to Health Sciences
You often hear the words 'health science' lately. Although the practice existed eons ago, this word which was only recently acknowledged as a field altogether has become a well-demanding major to venture into. But what exactly is it?
First of all, let us study the roots of those words. There are many aspects of which health can be referred to. A person's health is not just measured by how fit they are physically or how well they are growing according to the trends; health can also be measured by how satisfied they are with their lives, how they are able to function normally in society, and even how they process their thoughts. On the other hand, science refers to a systematic study that confirms testable laws. When the words health and science are put together, It would be referred to as a systematic study to confirming the laws to do with health. For simplicity sake, the study of health science is the study and research of health-related issues.
The study of health science is a rather general field, which either looks into our intake of nutrition, or our human function of sorts. Sometimes overlapping with one another, both nevertheless aims to improve or maintain the wellbeing of our health with the knowledge of the areas obtained. Some examples of specializations are dietetics, phytotherapy, nutrition, environmental and occupational health, medicine, health education, audiology, speech therapy and others.
As issues regarding the health of mankind are being paid much attention to these says, the study of health science is becoming more well accepted. Hence, there is always an opening in positions if you look at the right places. In addition, having a PhD in this field would bring you far in the field you venture into. A PhD in Health Science equips you with the knowledge and credentials to work in a specialized field in allied sciences. You will basically learn how to critically analyze and evaluate the issues that arise in the field, which could bring about progress and development to the general health.
Source: http://foragemarin.blogspot.com/2012/07/introduction-to-health-sciences.html
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Putin demands answers over deadly floods
GELENDZHIK, Russia ?? Russian President Vladimir Putin ordered investigators to find out whether local officials could have done more to prevent floods killing 150 people in southern Russia after flying to the region to handle the first big disaster of his new presidency.
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Putin, who was criticized for his slow reaction to disasters earlier in his career, has promised money for new homes for victims of the worst flooding in decades in Krasnodar, a prosperous region with thriving agriculture and tourism.
He declared Monday a day of mourning for the dead, most of whom drowned. Many were elderly people caught unawares as they slept when water swept through their homes after two months' average rainfall fell in a night.
"I have asked the leadership of the (federal) Investigative Committee to come down," Putin said late on Saturday during a meeting with officials in Krymsk, the worst-hit town.
"The Investigative Committee will check the actions of all the authorities - how notice was given, how it could have been given, how it should have been given and who acted in what way."
Floods kill 150 people in Russia
Police said survivors climbed into trees and onto roofs to stay above the waters, which flooded entire ground floors of some buildings and created driving torrents in some streets.
Almost 30,000 homes were also without electricity and gas in a region that is Russia's traditional "bread basket", emergency officials said.
In Krymsk, where 139 people died, residents were without drinking water and the Health Ministry, concerned about potential infection from a local cemetery eroded by floodwaters, began vaccinating residents. Rains continued there on Sunday.
Video: Floods terrorize Europe (on this page)But the sun was shining and the waters had receded from the resort town of Gelendzhik, on the Black Sea coast, where nine people were killed. The town had appeared badly flooded in aerial photographs taken on Saturday.
Emergencies Ministry aircraft were taking off from Gelendzhik airport, the nearest regional airport to Krymsk.
Most passenger rail traffic resumed on Sunday and Russia's biggest port, Novorossiisk, a major outlet for crude oil from the world's largest producer, resumed normal operations, an official at the port operator said.
Novorossiisk is also a major outlet for wheat from Russia, the world's second largest exporter this past year. The official said Novorossiisk Grain Terminal was ready to resume exports, though none were scheduled for Sunday.
Photos: Putin's 24 hours in the Middle East
The consequences of the flash flood could be more lasting for Putin, though he moved swiftly to show he was on top of the rescue effort.
On Saturday, Putin and the regional governor surveyed the flood zone from a helicopter and bumped over a country road in a minibus with the head of the Krymsk district, discussing the disaster response in the town worst hit by the flooding.
A criminal investigation was opened into whether the deaths were caused by negligence, Russian media reported.
It was the first major disaster in Russia since he returned to the Kremlin for a third term as president after a four-year interlude as prime minister.
The former KGB spy, now 59, has increasingly struggled to project his customary image of mastery since the outbreak of protests against his rule last December.
In his 12 years in power, both as president and prime minister, Russia has been plagued by natural and man-made disasters that have laid bare a longstanding shortfall in investment and management of Russia's transport and infrastructure.
These include deadly forest fires in 2010 and the sinking of the Kursk nuclear submarine in 2000 which killed 118 sailors and officers. Putin was accused of responding slowly to the Kursk disaster because attempts by foreign rescue teams to save the sailors were initially not allowed.
Putin on Saturday ordered the Emergencies Ministry to check a reservoir near Krymsk.
The state water resource agency has rejected suggestions by residents that a release of water from a nearby reservoir was responsible for the severe flooding in Krymsk.
Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp
Source: http://www.msnbc.msn.com/id/48109518/ns/world_news-europe/
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Sunday, July 8, 2012
Self Help Information That's Great To Know | mosfetaudio-didik.com
To change and grow, you must make the choice to change your ways. Growth and improvement do not happen until you willingly embrace these changes.
When working on your personal development, you need to value yourself and what is best for your life. Value your personal best and make that important to your life.
Aim to make each day better than its predecessor. Keep aiming higher and higher. Challenge yourself to improve on something that you did yesterday.
It?s important to remember that faith and love go hand in hand. It is impossible to be faithful without having love. Thus, it is important to always act on your faith and show your love. You can make your faith meaningful by doing positive things for peers and loving them.
Find texts and phrases that sooth and encourage you. A religious text might work for some people, while others may prefer a book that contains inspirational quotes. A book functions as a concrete object you can use to find support and useful advice when you need it.
Instead of bragging about how many things you?ve earned in your life, try to ask other people about what they?ve earned in their life and what they?re proud of. People will appreciate your company more, and you will find new common points of interests between you and your friends.
You must stop spending your time worrying. Creating worries is what happens when you expect the worst to happen, before anything has happened. Confront your fears and take action that will prevent them from occurring in the first place. Then, you are prepared to handle whatever gets thrown your way. Excessive worrying solves nothing.
Do not shop for comfort. Instead, find a hobby to take up your time that doesn?t cost you much money. This way, you won?t be running up high bills and filling your house with things you don?t need.
Unless you take care of yourself, you won?t be able to care for anyone else. Take time for rest and relaxation, whether your health is good or poor.
When your body feels in tip-top shape, your mind will feel better as well. Consistent workouts and proper nutrition should be integral to your lifestyle. If you want a healthy mind, make sure it resides in a healthy body.
Learn the habits that successful people practice, and build them into your own life. Begin with some basic, easy habits, and remember to practice them until it becomes second nature. You should keep it up for at least 21 days to make it a habit.
Talking to a counselor or a religious leader can help you relieve stress. They have a great deal of experience in dealing with personal thoughts and are even licensed to do so. Their job is to listen to you and your concerns and help you gain a new outlook on your situation. Sharing your issues with such an adviser can result in a greater sense of peace and wisdom.
Exercise is for all people, not just someone looking to lose weight. There are many physiological benefits associate with exercise. Exercising causes the release of endorphins that make you feel happier and less irritable.
When building a personal development plan, it is important to consider your personal values. It wouldn?t make sense to develop a trait that was contrary to who you are. Spend your energy and time on those areas that you want to better and that mesh well with your values. By doing so, you can make changes in your professional and personal life that will stick with you.
It is senseless to allow yourself to be consumed with worries. Worrying is really imagining things that are not there, and why worry about something that hasn?t happened? Instead of worrying, think about the worst thing that could happen, and prevent it. By doing, this you will feel ready to deal with whatever the situation throws at you, so you will no longer have to worry.
You should feel comfortable in your own skin and being the person that you are. Every person is an individual with different talents, and we are not all going to be good at everything. You should not bemoan skills you have yet to acquire and instead focus on the good the skills you already possess can bring.
Stress is what often brings down happiness. When stress happens in our minds, it also has detrimental affects on our physical health. Make sure to deal with stress in order to always think clearly and calmly about your goals. Take the time out of your day to sit down and clear your head. Having a time to refresh can give you peace and improve your self-image.
Leadership is an important part of someone?s personal development. Most people believe that leadership and influence are synonymous. Think about your own leadership experiences. What events have impacted you the most in your life? How have you changed because of those events? Evaluate attributes that you possess which contribute to your role as a team player. Thinking deeply about these issues can bring awareness of the level of your leadership and team member skills.
People who have particularly intractable problems should try therapy. Self-help books can be useful for many small problems, but they won?t help you tackle the bigger issues which could be haunting you. Sometimes, the best solution comes about through the simple act of talking with a trained therapist. A book can not talk to you like a therapist can.
Figure out what you want your life to be and do what it takes to accomplish it. Sitting and thinking about the life you want will not get you that life. Therefore, you should get off your butt, and actually do something to turn your dream into a reality.
If you put the information to use that you learned in this article, you?ll be able to make the proper steps towards personal development. You should also continuing searching for any new personal development strategies that could work well for you.
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Source: http://mosfetaudio-didik.com/self-help-information-thats-great-to-know/
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Jobs data force delicate balancing act for Obama
FILE-In this June 13, 2012 file photo, job seekers have their resumes reviewed at a job fair expo in Anaheim, Calif. U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is still struggling three years after the recession ended. The unemployment rate was unchanged at 8.2 percent, the Labor Department said in its report Friday, July 6, 2012. (AP Photo/Jae C. Hong, File)
FILE-In this June 13, 2012 file photo, job seekers have their resumes reviewed at a job fair expo in Anaheim, Calif. U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is still struggling three years after the recession ended. The unemployment rate was unchanged at 8.2 percent, the Labor Department said in its report Friday, July 6, 2012. (AP Photo/Jae C. Hong, File)
Tressa Miller, right, helps military veteran Roger Porter, of Detroit, with resume career counseling in Detroit, Tuesday, June 26, 2012 for a first-of-its-kind gathering designed to help America's warriors on a number of fronts at three events: a job fair, a small business conference and an open house . (AP Photo/Paul Sancy
WASHINGTON (AP) ? A third straight month of weak hiring shows the U.S. economy is still struggling three years after the recession officially ended.
U.S. employers added just 80,000 jobs in June, and the unemployment rate was unchanged at 8.2 percent, the Labor Department said Friday.
For the April-June quarter, the economy added an average of 75,000 jobs a month ? one-third the pace in the first quarter.
And for the first six months of 2012, employers added an average of 150,000 jobs a month. That's fewer than the 161,000 average for the first half of 2011.
Slow job growth has led consumers to pull back on spending. Many analysts think the economy is growing at a sluggish annual rate of less than 2 percent.
Job creation is the fuel for economic growth. When more people have jobs, more consumers have money to spend ? and consumer spending drives about 70 percent of the economy.
___
Here's what The Associated Press' reporters are finding:
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OBAMA TREADS CAREFULLY.
Four months before voters pass judgment on his leadership of the economy, President Barack Obama attempted a rhetorical balancing act Friday.
June's slight job growth is a "step in the right direction," Obama said on a bus tour through Ohio and Pennsylvania,
Yet he also acknowledged that the economy must grow faster.
"It's still tough out there," the president conceded.
He said voters must help him break a stalemate in Congress that he says is preventing his administration from boosting hiring.
For Obama's Republican presidential rival, Mitt Romney, the jobs report could provide a point of attack in the dwindling time before Election Day.
And Romney seized on it.
Campaigning in New Hampshire, he called the unemployment rate "unacceptably high" and said Obama must take responsibility for failed policies.
? Ben Feller, AP White House Correspondent
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TIME UNTIL ELECTION DWINDLING
Is it too late for Obama to win over voters unhappy with the job market he's presided over?
The election is four months away, and four more job reports will be issued before then. The final one will come four days before Election Day.
At some point ? now, or closer to the election ? voters' views of Obama's handling of the economy will solidify. And many analysts think four months isn't enough time for the unemployment rate to fall much below its current 8.2 percent.
"Time has run out," says Patrick Sims, director of research at the consulting firm Hamilton Place Strategies.
For the unemployment rate to fall under 8 percent would require an average monthly gain of 219,000 jobs from July through October, according to calculations by Hamilton Place.
Few predict job growth that strong.
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THE ANNUAL SLUMP
The June jobs report confirmed evidence of an unhappy long-term trend: Hiring is slumping for a third straight year.
In each of the past three years, hopes for a job-market recovery were lifted by robust gains early in the year. But in each case, those hopes fizzled as hiring slowed by spring or summer.
June marked a third straight month of weak hiring ? an average of 75,000 jobs for the second quarter of 2012. That's far too few to lower the unemployment rate.
The 2011 job slump lasted from May through August. Over that period, the average monthly job gain was 80,000.
In 2010, the slowdown, from June through September, consisted of four straight months of job losses. The average loss was 76,000.
Over time, the economy would need to add about 150,000 jobs a month to drive down the unemployment rate.
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SOURNESS ON WALL STREET
Stock investors gave a collective thumbs-down.
The market opened sharply lower after the jobs report was issued. The Dow Jones industrial average closed down 124 points, nearly 1 percent. Other stock indexes also sank.
Money flowed instead into U.S. Treasurys, which investors perceive as safer than stocks when the economy is weakening.
Never mind that you get almost nothing in return for lending money to the federal government these days. The yield on the benchmark 10-year U.S. Treasury note fell to 1.54 percent, from 1.59 percent on Thursday.
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THE LOST JOBS
Five million jobs.
That's how many the economy has still failed to recover since the Great Recession officially ended three years ago.
The nation lost nearly 8.8 million jobs between January 2008 and February 2010. Since then, it's regained more than 3.8 million ? less than 44 percent.
The economy has added just 137,000 jobs a month since employment hit bottom. At that pace, it would take three more years for employment to return to where it was in January 2008.
? Paul Wiseman, AP Economics Writer
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WORDS TO DESCRIBE THE NUMBERS
Here's what politicians and economists had to say about the June employment data:
President Barack Obama: "It's still tough out there."
Mitt Romney: "This kick in the gut has got to end."
Mark Zandi, chief economist at Moody's Analytics: "It's hard to sugarcoat any of it."
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GLASS HALF-EMPTY, GLASS HALF-FULL
Compared with last year, job growth is worsening.
Employers added an average of 150,000 jobs a month in the first half of 2012 ? fewer than the 161,000 average in the first half of 2011.
Yet by some other measures, the job market has improved over last year. The number of people who sought first-time unemployment aid fell to 374,000 late last month ? 12 percent lower than the level a year earlier. That shows layoffs have declined.
Companies are posting more jobs. There were 3.4 million job openings in April, according to the most recent data available. That's 13 percent more than in April 2011.
And the economy grew at a 1.9 percent annual rate in the first three months of this year. That's a weak gain, granted. But it's better than the nearly stalled 0.4 percent annual pace in the first quarter of 2011.
? Christopher S. Rugaber, AP Economics Writer
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FED TO THE RESCUE?
As job growth sputters, the Federal Reserve becomes more likely to try to give the economy another jolt.
Economists generally agree, though, that the Fed won't act immediately and won't act at all unless the economy takes a sharper turn for the worse.
The Fed's options are complicated by the presidential election, just four months away. The Fed may be reluctant to take action close to the election out of concern it could be seen as affecting the vote.
After the Fed's last policy meeting, which ended with a decision to extend a bond-buying program, Chairman Ben Bernanke said, "If we're not seeing a sustained improvement in the labor market, that would require additional action."
The Fed's next policy meeting begins July 31.
? Martin Crutsinger, AP Economics Writer
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IT'S A MAN'S RECOVERY
Men bore the brunt of the recession: They lost about 70 percent of the jobs. But they've benefited the most during the weak recovery.
Three-quarters of the jobs created in the past 2? years have gone to men: roughly 2.7 million of the 3.8 million jobs.
Dean Baker, an economist at the Center for Economic Policy and Research, says huge job losses in male-dominated professions like manufacturing and construction have forced men to seek work elsewhere. As a result, they've taken many jobs that otherwise might have gone to women.
Men have landed 474,000 jobs in retail and 123,000 in finance, Baker calculates. By contrast, women have lost 49,000 retail jobs and 65,000 finance positions.
? Christopher S. Rugaber, AP Economics Writer
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THE 10 MILLION MISSING WORKERS
One reason it's been so hard for the economy to generate consistently strong hiring: Only 58.6 percent of adults are earning paychecks.
That's near a three-decade low. And it's down from about 63 percent before the recession ? meaning 10 million fewer people have jobs.
These people include not only laid-off workers. Some are young adults who are staying in school or older workers who have retired early. It also includes people who aren't looking for jobs and rely on disability or other government aid.
Nearly all have less money to spend than if they were working. They can't spend as much to eat at restaurants or to buy computers or furniture.
That means lower sales for companies, which are responding by adding few jobs. The result is a vicious cycle that's been difficult for the economy to escape.
___
STATES OF (RELATIVE) DISTRESS
Only 14 states have unemployment rates above the national average of 8.2 percent. But most of them have large populations. Thirty-four states ? more than two-thirds ? have rates that are below the national average. Two states, Arizona and Kentucky, are at the national average.
Unemployment is highest in Nevada (11.6 percent), where the effects of the housing bust are pervasive. The four states with the next highest rates are: Rhode Island (11 percent), California (10.8 percent), North Carolina (9.4 percent) and New Jersey (9.2 percent).
Unemployment is lowest in North Dakota (3 percent). It's an agricultural state that avoided the housing boom and bust and has benefited from an oil-drilling boom. The four states with the next lowest rates are Nebraska (3.9 percent), South Dakota (4.3 percent), Vermont (4.6 percent) and Oklahoma (4.8 percent).
The Labor Department's state-by-state unemployment data is for May.
___
'WORLDLY AND BROKE'
When Deborah Masse, 49, lost a job in 2007, she had three interviews and a job offer within six weeks.
This time has been different. After being laid off in October 2011, she's sent out thousands of resumes and had several phone interviews.
No job offers.
But Masse, who lives in Stanton, Mich., with her husband and mother, has been encouraged by the auto industry's rebound. She's seeing auto companies advertise jobs in human resources, her field. She plans to move next week to be closer to Detroit.
While unemployed, Masse says she's exercised more, learned some French and Spanish, and brushed up on her technological skills.
"If nothing else, I will end up on Social Security more fit, more intelligent and worldly and broke," she says.
? Christopher S. Rugaber, AP Economics Writer
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UNEVEN JOB MARKET
If you're 25 or older, the job market may not feel so tough. The unemployment rate for this group was just 6.9 percent in June.
If you're a teenager, the outlook is much bleaker. Unemployment for teens was 23.7 percent.
Such disparity illustrates how the pain of a tight job market can depend on age and race.
Among racial and ethnic groups, black Americans suffered the sharpest increase in June. Their unemployment rate jumped from 13.6 percent in May to 14.4 percent. It exceeded the rate for Hispanics (11 percent) and was far above the rates for whites (7.4 percent) and Asians (6.3 percent).
The June jobs report left no doubt about the value of education: Unemployment was 4.1 percent for college graduates. The rate was double for people with no more than a high school education and triple for those without a high school degree.
? Christopher S. Rugaber, AP Economics Writer
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MORE CARS, MORE GADGETS
Despite the overall tepid job growth, customer demand in some sectors is lifting hiring.
Consider the auto industry. Healthier U.S. sales, on track for their best year since 2007, are leading to more jobs.
Nissan plans to hire 1,000 workers at a plant in Canton, Miss., by year's end to build the Sentra sedan. Volkswagen is on a hiring spree, with plans to hire 1,000 at its assembly plant in Chattanooga, Tenn.
Technology companies are generally faring well, too. A common complaint is a lack of qualified software engineers and designers.
Demand is also rising for social media specialists, who manage ads on Facebook or LinkedIn or moderate online communities. There's also a need for Web developers who know HTML5, the newest version of the programming standard websites are built on.
Amazon.com is adding more than 7,000 jobs, mainly at order centers in California, Indiana, South Carolina, Tennessee and elsewhere.
? Dee-Ann Durbin, AP Auto Writer and Barbara Ortutay, AP Technology Writer
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SHRINKING GOVERNMENT JOBS
As an employer, the government isn't helping.
The number of jobs at all levels of government fell 4,000 in June. Only local governments added jobs ? and it was a scant 4,000. State governments cut 1,000 jobs. They shed 13,000 in the April-June quarter.
"In the first quarter it looked like state and local government job losses were coming to an end," says Stuart Hoffman, chief economist at PNC Financial Services. "That turned out to be a temporary halt... Apparently, there's no end in sight."
The federal government cut 7,000 jobs in June. It hasn't added jobs since March 2011.
? Paul Wiseman, AP Economics Writer
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A BROADER GAUGE OF PAIN
The unemployment rate doesn't fully capture the breadth of the jobs crisis.
A more inclusive measure is known as the "underemployment rate." And it worsened again in June.
This measure includes not only the unemployed but also people who want jobs but have stopped looking for them and part-time workers who want full-time jobs.
The underemployment rate rose to 14.9 percent in June ? up from 14.8 percent in May and 14.5 percent in April.
___
'FISCAL CLIFF' KEEPS EMPLOYERS ON EDGE
The job market could get even weaker once 2012 ends.
Unless Congress intervenes by then, income tax cuts will expire and $100 billion in spending cuts will kick in. This would push the economy off a " fiscal cliff" and land it in another recession, according to the Congressional Budget Office.
Jobs would become even scarcer.
A last-minute reprieve is likely, according to many political analysts. But until then, uncertainty is making employers reluctant to hire. More than three-fourths of the 32 economists surveyed by the AP last week described the fiscal cliff as a "major" risk.
___
CUSHIONING THE PAIN
When the job market and the economy weaken, energy prices tend to drop. That means relief for businesses and consumers.
Lower oil prices mean cheaper diesel and jet fuel for shippers and airlines. Falling gasoline prices give drivers more money to spend on things like cars, appliances and vacations that fuel economic growth.
Oil has fallen 21 percent from its peak in late February ? to $87.22 barrel. And gasoline now costs $3.34 a gallon, down 15 percent from early April.
As the U.S. and European economies struggle, oil demand is expected to weaken in the second half of the year. The U.S. is the world's biggest oil consumer, and the prospect of less demand tends to lower prices.
___
AS FOR THE GOOD NEWS...
Average hourly pay rose 6 cents in June ? the biggest gain in nearly a year. Hourly pay has risen 2 percent in the past 12 months. It's slightly outpacing low inflation, which has been held back by lower gas prices.
The construction industry added jobs for the first time in five months. The gain was small ? 2,000 jobs ? but it could rise in coming months because builders are breaking ground on more homes. And spending on commercial construction is up.
Manufacturers added jobs for a ninth straight month. The average work week grew. And companies hired 25,000 temporary workers.
Economists say those are generally signs that hiring will increase in the months ahead.
That said, job growth will likely stay too weak to drive down unemployment significantly.
? Christopher S. Rugaber, AP Economics Writer
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Cheap Kitty Cats Never Use Kitchen Cabinets | Home Improvement ...
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