McJob Stats - 1.2 million applied for 50,000 burger flipper jobs.
McDonald’s and its franchisees received more than 1,200,000 applications for a total of 50,000 published jobs. The application to position ratio was placed at 24:1 . Meaning 24 people applied to flip hamburgers for 1 hamburger flipper position open. The company reacted by hiring 62,000 people, moving the ratio to just under 20 applying for [...]
Read MoreBen Bernanke states QE3 is not printing money
Ben Bernanke said fears that the Fed would be printing more money and taking inflation risks through its bond purchases was a “myth.” He said the Fed isn’t printing money when buying Treasuries and the purchase won’t result in a significant expansion of money circulating in the market. We want to get this right Ben, [...]
Read More40,800,000 Americans on Food Stamps
40,800,000 Americans on Food Stamps. The number roughly corresponds with the entire population of the following states and the nations capital: Wyoming Washington DC Vermont North Dakota Alaska South Dakota Delaware Montana Rhode Island Hawaii Maine New Hampshire Idaho Nebraska West Virginia New Mexico Nevada Utah Kansas Arkansas Mississippi Iowa Connecticut Oklahoma Everyone in those [...]
Read MoreMancession : 1 of 6 men not employed
It’s hard to exaggerate how bad the job market is. Here’s one arresting fact: One of every five men 25 to 54 isn’t working. Even more alarming, the jobs that many of these men, or those like them, once had in construction, factories and offices aren’t coming back. “A good guess…is that when the economy [...]
Read MoreBen Bernanke what is the exit plan?
Ben, The Federal Reserve under the quantitative easing policy increased the money supply dramatically. In layman terms it’s generally called printing money. So we have a question we would like you to answer. Where is this money going to eventually end up? See right now the banks are still not lending money out, so it [...]
Read MoreTracey Edwards ad agency shuts down - won’t pay bills
The Union Leader is reporting that ad agency Tracey Edwards has shut down. With an incredible note stating “Unfortunately, there will be no assets for distribution to unsecured creditors, like you,” the letter, addressed “To Whom It May Concern,” said.” and No bankruptcy filing is contemplated because there will be no assets for distribution to [...]
Read MoreCNBC : Tribble was right about unemployment
Evidently CNBC is coming to the same conclusion we did nearly a year ago that the U-6 is the real unemployment rate standard. The problem is that the U-3 doesn’t count in the millions of people where their unemployment benefits have ran out, hence the U-3 is counting them as employed… even though they have [...]
Read MoreThe Recession is over today
The recession is over, so why does everyone feel like it’s still getting worse? I figured I would explain to you what’s really wrong with calling this recession over. They measure it from Quarter to Quarter, meaning every 90 days they look to see if the economy has improved from the previous 90 days. The [...]
Read MoreAd Agency in a recession - the good, bad and ugly
With layoffs being in the headlines this is going to be the classic textbook definition of a jobless recovery (if we really are in a recovery). Leaving us Advertising Agency types with a serious problem. The first being the fact that many consider our services optional, as payroll takes precedence, hence leaving our industry with [...]
Read MorePink Slips flying at ad agency Ogilvy
Evidently Happy Monday at advertising agency Ogilvy, pink slips are flying. George Parker has the full leak. Layoffs will contintue across the industry as this recession hasn’t seen it’s full potential in terms of unemployment. These people will be forced entering the workforce facing horrific unemployment and very low chances of finding a job quickly [...]
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