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Fri Jul 3

• Works of Peter Kropotkin
• Op-Ed Columnist - That ?30s Show - NYTimes.com: Since the recession began, the U.S. economy has lost 6 ½ million jobs ? and as that grim employment report confirmed, it?s continuing to lose jobs at a rapid pace. Once you take into account the 100,000-plus new jobs that we need each month just to keep up with a growing population, we?re about 8 ½ million jobs in the hole. And the deeper the hole gets, the harder it will be to dig ourselves out. The job figures weren?t the only bad news in Thursday?s report, which also showed wages stalling and possibly on the verge of outright decline. That?s a recipe for a descent into Japanese-style deflation, which is very difficult to reverse. Lost decade, anyone?
• http://soccerl ens.com/the-go ld-rush-in-foo tball-is-80m-t oo-much-200m-w hen-and-how-wi ll-this-end/31 324/

Thu Jul 2

• Adictos al Trabajo. Formación y desarrollo | JAVA, JEE, UML, XML |. Tutoriales sobre nuevas tecnologías.
• Jobs Data Bode Ill for the Future - Real Time Economics - WSJ: Weighing on the recovery is the American consumer?s newfound thrift. Consumer spending has helped buoy past recoveries, but a lack of credit, falling home prices and a weak job market appears to have finally knocked consumers to the mat. Making matters worse will likely be falling take-home pay. Wages were flat in June and with so many people out of work, employers won?t have much pressure to drive them up soon.
• Stagnant Pay Saps Consumers' Ability to Spur Recovery - WSJ.com: The bad news for the economy isn't just that employers shed 467,000 jobs last month, more than in May. It is that people worked less and their pay stagnated, threatening the strength of a potential recovery in the second half of the year.
• U.S. Economy: Job Cuts in June Deeper Than Forecast (Update1) - Bloomberg.com: The growing ranks of the jobless are allowing companies to restrain wage growth and reduce the work week, eroding the consumer spending that makes up about 70 percent of the economy, today?s report suggested. Bargaining Power ?Workers? bargaining power for wages is evaporating,? said Ryan Sweet, an economist at Moody?s Economy.com in West Chester, Pennsylvania. ?Outright declines in wages could unravel the recent stabilization we?ve seen in consumer spending and home sales.? The average work week fell to 33 hours, the lowest level since records began in 1964, from 33.1 hours in May, today?s report showed. Average weekly hours worked by production workers rose to 39.5 hours from 39.4 hours, while overtime held at 2.8 hours. That brought the average weekly earnings down to $611.49 from $613.34.
• State and Federal Minimum Wage Rates from LaborLawCenter .com
• Ausländer trifft die Krise zuerst

Wed Jul 1

• Wage Deflation in Our Midst | The Big Picture: For those who still believe that we somehow managed to avoid an economic depression this cycle because of a 13% fiscal deficit/GDP and a pregnant Fed balance sheet, the Center for Labour Market Studies at Northeastern University estimates that the real unemployment now stands at 18.2%, which is actually higher than the posted rate at the end of the 1930s.

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