Could Jobs Report Delay Decrease of Interest Rates?

first_img Share Save Could Jobs Report Delay Decrease of Interest Rates? Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Could Jobs Report Delay Decrease of Interest Rates? The Week Ahead: Nearing the Forbearance Exit 2 days ago The prospects that the Fed will slash interest rates later this month took a hit after the June jobs report from the Bureau of Labor and Statistics revealed the economy added 224,000 jobs, the most since January. “After May’s weaker jobs data, which was revised even lower today, the June report takes on new importance as a sign of whether the May data was a one-month blip or the start of a new weaker trend,” said Danielle Hale, Chief Economist for “The 224,000 jobs added in June are a strong bounce back and will likely make the Fed less inclined toward rate cuts later this month, especially as the unemployment rate still hovers near 50-year lows at 3.7%.” The unemployment rate of 3.7% is marginally higher than what was reported in May, and the number of unemployed people came in a 6 million. Data also found the labor force participation rate came in at 62.9%, which is marginally higher than May’s 62.8%. Unemployment rates for African Americans dropped from May’s 6.2% to 6% in June, and a year-over-year decrease from 6.5% in June 2018. Average weekly earnings grew slightly to $959.76 in June from $957.70 in May. Employment in professional and business services saw the biggest increase, adding 51,000 jobs in June. Health care added 35,000 jobs in June, and transportation and warehousing added 24,000 jobs. While the June report exceeded expectations, a report by Bloomberg states these numbers could cause the Fed to take a second look at cutting interest rates. “This morning’s (July 5) robust jobs report should ease some of the pressure that the Fed faces to cut rates at the upcoming July FOMC meeting,” said Doug Duncan, Chief Economist at Fannie Mae. “The report showed non-farm payrolls increasing by 224,000 in June, outweighing small downward revisions to the prior two months and indicating that the labor market remains a strength of the economy. The Best Markets For Residential Property Investors 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Tagged with: Fed Interest rates Jobs Report Previous: The Week Ahead: Fed Chair in the Spotlight Next: Innovative Funding Models: A New Approach to Urban Blight About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Print This Postcenter_img Sign up for DS News Daily Subscribe July 5, 2019 1,114 Views Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Fed Interest rates Jobs Report 2019-07-05 Mike Albaneselast_img read more

Stability amid revolution

first_imgPart of a series about Harvard’s deep ties to Asia.JINAN, China ­— As a German diplomat in Africa, Daniel Koss saw his share of unstable governments. But given the continent’s poverty, factionalism, and history of colonialism, the situation was understandable.What he didn’t understand was China.The Asian giant, growing ever larger on the world stage while Koss was in Africa from 2004 to 2006, was once beset by many of the same problems. It was colonized by European powers and by Japan. It suffered waves of violence during the 1937 Japanese invasion, the civil war between nationalists and Communists, and the Cultural Revolution from 1966 to 1976.“I’m interested in political order and how you create political order,” Koss said. “Coming from Africa, I wondered, ‘How is this country stable?’ It’s a Communist country that’s not really Communist anymore, so what makes it stick together?”Koss believes the answer may lie with the Chinese bureaucracy, which has endured trials and turmoil for 1,000 years, deep into the imperial past. If he’s right, that bureaucracy represents a stable foundation upon which the Communist Party’s networks of members operate, working together to create a stable state.Koss, a doctoral student in Harvard’s Government Department, is nearing the end of his second six-month stint in China’s Shandong Province, whose provincial capital, Jinan, is 250 miles south of Beijing and has a population of more than 4 million. Koss has been living a somewhat transient life in Shandong, bouncing between hotels, a room borrowed from a university faculty member, and an academic guest house as he visits archives, speaks with local residents, and travels to view key sites.From German government to HarvardKoss gave up a career in Germany’s Foreign Ministry to come to Harvard. After a two-year stint in the embassy in Cameroon that began in 2004, he moved to the permanent mission to the United Nations in New York when his wife, Jie Li, entered graduate school at Harvard. He eventually applied to Harvard himself.“I really like academic life,” said Koss, whose work is supported by the Fairbank Center for Chinese Studies’ Desmond and Whitney Shum Fellowship. “There’s much more freedom to ask the questions I want to ask, and to ask deeper questions, too.”Koss entered Harvard to study international relations, but switched to political science after taking a course from his eventual adviser, Henry Rosovsky Professor of Government Elizabeth Perry.“I was blown away by how much you can do with political science,” Koss said.In China, Koss has had ups and downs with his research. There are times when the archives are welcoming, the documents he seeks are available, and the people he meets vividly recall the Cultural Revolution. But at other times, he finds archives closed, documents unavailable, and people suspicious of the questions he’s asking. He has had a laptop stolen — less than disastrous because he’d backed up the data ­­— and was once interrogated for nine hours while crossing the border because of papers he’d purchased in a local market.His first visit presented other challenges. He had learned to read Chinese before going overseas, but initially found it difficult to interview officials. So he spent the early part of that visit practicing Chinese on the job, improving his ability to converse, which got him more access to people and documents. After his first six-month visit, his biggest problem wasn’t the field conditions, but his confusion over what he had learned and where it might lead.He returned to Cambridge, talked with his doctoral adviser, and sorted out his research direction.“Daniel is one of an extraordinarily talented group of Harvard Government Department doctoral candidates doing pioneering grassroots field work in China to explain the remarkable differences in policies and politics among local governments,” Perry said. “Daniel’s project is notable for its historical depth. It is a very exciting exploration of how imperial and revolutionary legacies may continue to shape contemporary state-society relations.”Koss has gotten support from several faculty members at Shandong University in Jinan, at the history department and at the School of Public Administration on the Hongjialou campus. The head of local government studies at the university, Fang Lei, has offered support, as well as the all-important introductory letters needed to access local archives.Fang said foreign scholars such as Koss can work on subjects that local Chinese scholars may not be able to, so their work is useful within China too.Koss’ work shows that the Cultural Revolution didn’t undo China’s bureaucratic legacies, but eventually made the state stronger as bureaucrats learned to cope with rebellion and to continue government operations even amid turmoil.Three layers of studyKoss said his work involves three layers. The first, largely conducted at the Harvard-Yenching Library, explores the imperial bureaucratic legacy stretching back 1,000 years. The imperial Chinese bureaucracy was renowned for efficient administration of the vast country. It had an examination system that helped ensure that officials were qualified and a personnel appointment system that was able to pick local governors who were loyal to the leadership, talented enough to do the job, and who wouldn’t raise the ire of the local people.“The basic problem [today] is the same,” Koss said.The second layer of his work examines the roots of the Communist Party’s political network, which varies in strength from province to province. He believes that party strength came not from idealistic fervor, but from patriotic sentiment aroused by the Japanese invasion in 1937. By looking at which provinces have the highest party membership and comparing them to the extent of Japanese occupation, he was able to draw nearly a one-to-one correlation between occupation and party strength.The third layer looks at the later chaos of the Cultural Revolution, which began in 1966 and stretched until leader Mao Zedong’s death in 1976. Those years, during which the revolutionary Red Guard moved against China’s own institutions, were particularly difficult for the bureaucracy, which was specifically targeted by the violence, which killed between 750,000 and several million.Koss’ work shows that the Cultural Revolution didn’t undo China’s bureaucratic legacies, but eventually made the state stronger as bureaucrats learned to cope with rebellion and to continue government operations even amid turmoil. Despite the violence, the bureaucracy ground on. He has found posters that reminded protesters to protect water quality, and brochures whose publication alone affirms that bureaucratic functioning continued. Perhaps most telling, a search of tax records shows that despite the turmoil, tax receipts in Shandong Province during the most difficult year fell just 2 percent.“Words like ‘anarchy’ and ‘civil war’ come to mind, but it’s wrong. On the streets, that was the experience, but the state continued,” Koss said. “The bureaucracy was still functioning. It’s very resilient. If there’s a problem, you know the government will keep running.”last_img read more

Ashes of former national footballer Winston Callender to be interred today

first_imgTHE ashes of former Guyana national footballer and Georgetown Football League (GFL) president Winston `Cally’ Callender will be interred today after a funeral service at the St James-the-Less Anglican Church, located on David Street, Kitty, Georgetown. The service starts at 14.00hrs`Cally’, as he was fondly known, died in the United States of America after a brief illness and was cremated there.His ashes should have been brought back to Guyana more than a week ago, but because of the snow storm currently affecting flights out of the U.S. his memorial here in Guyana had to be rescheduled to today.Callender, a former national footballer and football administrator, served as first vice-president of the Guyana Football Association.Callender, born in Kitty, first made his entry into the administrative aspect of the sport at the sub-association level.Thereafter, in 1997, leading up to the football league’s Annual General Meeting/Election of Office-Bearers, Callender’s candidacy for the presidency was endorsed by GCF’s Committee members.That particular AGM was historical on numerous fronts. The incumbent GFL President and Honorary Secretary were already entrenched in the respective GFA positions and for the first time ever in the sport’s history, a delinking from the GFL was imminent, since in the Football Association General Council’s deliberations the conflict of interest scenario that was inherently in place had to cease forthwith.The subsequent AGM was aborted but when it was reconvened, Callender won by a landslide. Due to a shortened season, the former Banks DIH employee secured sponsorship from his employer for the Banks DIH/Campsite Senior Round Robin K.O. involving both first and second division teams.last_img

Latest Warriors’ injury report on Durant, Cousins & Iguodala

first_imgKlay Thompson subscribes. You can too for just 11 cents a day for 11 months + receive a free Warriors Championship book. Sign me up!SAN ANTONIO — The Warriors’ training room has become crowded lately.Warriors center DeMarcus Cousins will sit out when the Warriors (47-21) visit the San Antonio Spurs (41-29) on Monday because of a sore right foot. So will veteran reserve Andre Iguodala because he needs to have a tooth extraction. But the Warriors will at least welcome back Kevin Durant after …last_img read more

Planning How You Work Is as Important as How You Sell

first_imgKnowing how to sell isn’t the same as knowing how to work. You can be very effective in sales and be very inefficient and very ineffective when it comes to working.Focusing on the Right OutcomesActivity isn’t the same thing as outcomes. You need activity if you are going to have outcomes, but knowing what outcomes you need and holding yourself accountable for those outcomes is how you improve your effectiveness.It is easy to be busy and still not make any progress on your most important outcomes. You can be a very good salesperson who chooses to allow themselves to be bogged down with the trivial and the insignificant.Effectiveness at work begins with knowing your outcomes.Planning Your Week is Planning Your WorkMost people don’t plan their week. They don’t know how valuable the planning exercise is when it comes to producing results. Instead, they live in a reactive mode, allowing the world to have its way with them.It takes time to plan your week. But that time is an investment that produces dividends by providing you with the time to determine your three most important outcomes for the week and to block time to make progress towards them.Planning your week is planning your work. Planning your work ahead of time is what allows you to do better and more valuable work.Tracking Your CommitmentsMost people are great at keeping their calendar. But they aren’t so great at keeping track of all the other commitments they make that aren’t being scheduled as an event.Throughout the week, you make all kinds of commitments. Some of them are so small as to be quickly made and just as quickly forgotten. Without tracking your commitments, you aren’t likely to keep them.Doing good work means keeping your commitments, large or small. Your attention to detail and follow-up are what enable you to do good work.Doing Quality WorkIt’s sometimes easy to swap quantity for quality. We cross off tasks from our to-do list and feel a tremendous sense of accomplishment as if we are getting things done.But getting things done efficiently yet poorly isn’t how you should work. It isn’t what produces the results you need, nor does it produce work you can be proud of.Slowing down and doing quality work is its own reward. But if you want more reasons to do quality work, remember that you are going to be known for the work you do. It’s also worth remembering that work done well doesn’t have to be done again later, and nothing is more expensive when it comes to your time as having to do the same work over again.If you want to produce better results in sales, do better work. How you work is as important to your results as how you sell. Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Nowlast_img read more