makesnoscents.com

Young, Underemployed and Optimistic
Pew Social and Demographic Trends
Nonetheless, since 2010, the share of young adults ages 18 to 24 currently employed (54%) has been its lowest since the government began collecting these data in 1948. Andthe gap in employment between young and all working-age adults—roughly 15 …

Labor & Economic News – Institute for Research on Labor & Employment Library

The Japanese and foreign media are both salivating over what might become of Michael Woodford, the ex-President and CEO of Olympus. In reality, who really cares, and what does it matter? The New York Times is reporting that “An outside panel appointed by Olympus to investigate its financial scandal issued a harsh report Tuesday, calling the company’s recently departed management ‘rotten to the core.’”

So?

The panel, led by a former Japanese Supreme Court judge, also details the roles it claims were played by three former Nomura bankers in arranging a cover-up, and it says Olympus paid the bankers for their efforts. It also criticizes Olympus’s auditors, KPMG AZSA and Ernst & Young ShinNihon, for failing to expose fraud at the company.

The report says that Olympus had persuaded several banks, including Société Générale of France

OK, enough. French investment banks have been behaving badly in Japan and hiring low end “talent” and castoffs from other investment banks for a long time; this is nothing new, ask any financial headhunter in Tokyo. KPMG and Ernst & Young? Firms staffed by people wishing they could make investment banker bonuses. Again, why is this news?

But back to the main point. While the Grey Lady asserts that managers at Olympus were “rotten to the core,” Woodford must see some hope in the firm if he truly wishes to return as CEO and/or President. And there might just be enough foreign ownership of equities for that to happen.

Japan Economy News & Blog

Family health care premiums exceed 20% of income

Labor & Economic News – Institute for Research on Labor & Employment Library

Amid Skepticism, Obama Prepares For Jobs Speech
The president’s jobs proposal is expected to include a combination of new and extended tax cuts, new spending on public works projects, and assistance for those who’ve been out of work a long time. But he’s dogged by the controversy that surrounds his early stimulus effort.

Labor & Economic News – Institute for Research on Labor & Employment Library

Weekly Unemployment Claims Rise Slightly
The number of people seeking unemployment benefits ticked up slightly last week, evidence that the job market isn’t improving. The Labor Department said weekly applications for unemployment benefits rose 2,000 to a seasonally adjusted 414,000.

Labor & Economic News – Institute for Research on Labor & Employment Library

Apprenticeships May Solve Skills Gap, Spark Economy
Morning Edition has been asking business people for their one idea on how to help fix a part of the economy. Tim Brown, CEO of the design firm IDEO, talks to Steve Inskeep about his idea of reviving apprenticeships.
NPR Morning Edition

Labor & Economic News – Institute for Research on Labor & Employment Library

TUC conference: what’s in store
As the TUC conference begins, union leaders and leftwing commentators discuss what the main themes will be

Labor & Economic News – Institute for Research on Labor & Employment Library

US Poverty Rate, 1 in 6, at Highest Level in Years
The portion of Americans living in poverty last year rose to the highest level since 1993, the Census Bureau reported Tuesday, fresh evidence that the sluggish economicrecovery has done nothing for the country’s poorest citizens

Labor & Economic News – Institute for Research on Labor & Employment Library

America losing ground in global competition for college-educated …
America appears to be losing an important edge in the global knowledge economy, with its share of college-educated workers falling relative to rival economic powers, according to a new study by the Organization for Economic Cooperation and Development.

Labor & Economic News – Institute for Research on Labor & Employment Library

Ed Miliband endures rough ride at TUC after criticism of pension strike action
Labour leader urges talks to prevent confrontation while public sector unions gear up for a long-running battle

Labor & Economic News – Institute for Research on Labor & Employment Library