Archive for August 23rd, 2010

Recovery Summer update: About those 600,000 private sector jobs created …

August 23, 2010

From the WSJ …

The unemployment numbers are even worse than reported.

Last year the Labor Department admitted it over-counted the number of jobs by 1.4 million.

Why?

Because they used a computer program that tries to extrapolate how many new companies are being created during each month and then estimates the number of jobs these firms should be creating.

They were wrong!

Since April, the Labor Department has counted 550,000 nonexistent jobs under this so-called birth/death series.

Without these phantom jobs, the economy this year created virtually no jobs — certainly not the 600,000 the administration has been touting.

WSJ, The End of American Optimism, August 16, 2010
http://online.wsj.com/article/SB10001424052748703960004575427332237529948.html

Posted in Employment - Jobs | Leave a Comment »

Recovery Summer update: About those 600,000 private sector jobs created …

August 23, 2010

From the WSJ …

The unemployment numbers are even worse than reported.

Last year the Labor Department admitted it over-counted the number of jobs by 1.4 million.

Why?

Because they used a computer program that tries to extrapolate how many new companies are being created during each month and then estimates the number of jobs these firms should be creating.

They were wrong!

Since April, the Labor Department has counted 550,000 nonexistent jobs under this so-called birth/death series.

Without these phantom jobs, the economy this year created virtually no jobs — certainly not the 600,000 the administration has been touting.

WSJ, The End of American Optimism, August 16, 2010
http://online.wsj.com/article/SB10001424052748703960004575427332237529948.html

Posted in Employment - Jobs | Leave a Comment »

Embarrassing pics on Facebook? … No problem – just change your name.

August 23, 2010

From the UK’s Daily Telegraph …

Google’s CEO Eric Schmidt warned that the “young” will have to change their names to escape their ‘cyber past’.

He says that the private lives of young people are now so well documented on the internet that many will have no choice but to change their names on reaching adulthood,

“I don’t believe society understands what happens when everything is available, knowable and recorded by everyone all the time.”

Mr Schmidt said he believed that every young person will one day be allowed to change their name to distance themselves from embarrasssing photographs and material stored on their friends’ social media sites.

Schmidt also predicted that in the future, Google will know so much about its users that the search engine will be able to help them plan their lives.

Using profiles of it customers and tracking their locations through their smart phones, it will be able to provide live updates on their surroundings and inform them of tasks they need to do.

“I actually think most people don’t want Google to answer their questions. They want Google to tell them what they should be doing next.”

Full article:
http://www.telegraph.co.uk/technology/google/7951269/Young-will-have-to-change-names-to-escape-cyber-past-warns-Googles-Eric-Schmidt.html

Posted in Internet - Soc Networking, Internet Marketing - eCommerce - | Leave a Comment »