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General
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Dhan,
Could u tell me why SWISS BANKS accept such kind of deposits.... WE SHOULD KNOW HOW MUCH MONEY IS STACKED AWAY in swiss banks.... we should expose that.. who will do it... the army cannot, the honest politicians cannot, the world bank will not, US president will not but the students of India can... they should hold nation wide protests to expose this kind of unaccounted money. I hear it stands at TRILLION DOLLARS....
In reply to:
ISI chief meets Pakistan PM amid India row
Posted by :
treasureddhan
Why talk of trillions of dollars, there are news , that MPs of country want to convert black money into white. News is spread across the Chartered Accountant feternity to help them. From Delhi to Kanyakumari, this is spread. RBI is keeping its eyes closed. The touts connected with the deals talk of some abbrevated word `RR`for the process of conversion. God only knows what the word `RR` means. When such things happen within our country, what else we can expect from these third rate politicians 
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continued...........
Congress MP Adhir Choudhury fully agrees: "Some of our fellow politicians are suffering from the foot-in-the-mouth syndrome, no doubt. It`s due to the deterioration of political ethics in this country. It`s unfortunate and I feel ashamed.
"We are people`s representatives. But, people hardly respect us nowadays due to the irresponsible and immature comments made by some flashy politicians.
"The father of the slain Major showed the nation what politicians deserve by shooing the Kerala Chief Minister out of his home. That was the perfect treatment which needs to be meted out by the civilian society to what is now seen as a despicable species of Indian population called politicians."
Mitra interrupts. "No I don`t agree to the bracketing of all politicians as despicable people. In case of Naqvi what he was really wanted to convey was a sudden excitement among Mumbai`s chattering classes."
But, Choudhury feels that whether it`s his party MP or whosoever it be, any politician who indulges in irresponsible remarks should not be "punished".
See both Shivraj Patil and RR Patil had to finally resign -- one for his sartorial fetish while the other for saying `bade bade saheer mein chota chota blasts hota hai` respectively after the Mumbai Terror attacks."
Sums up Kolkata-based psychologist Dr SK Dasgupta: "People`s anger against politicians is more due to fear coming from a sense of insecurity."...
In reply to:
Are politicians suffering from foot-in-mouth syndrome?
Posted by :
morningdew
New Delhi: The political class has never had it so bad with unprecedented public anger over Mumbai Terror attacks, and they have made it worse for themselves with "foot-in-the-mouth" syndrome.
From lipstick to cur, politicians have come in for sharp criticism for their shooting-from-the-lip with eminent personalities saying time has come for them to think before opening their mouth.
Be it Kerala Chief Minister VS Achuthanandan`s "dog" remark or former Maharashtra Deputy CM RR Patil`s "filmi-syle" statement or BJP Vice-President MA Naqvi`s "lipstick" reaction and their respective parties taking exception to them – these kneejerk comments are now being subjected to public scrutiny.
Says India`s first woman IPS officer-turned-social activist Kiran Bedi: "The politicians have long been suffering from the foot-in-the-mouth syndrome. But, thanks to media now, they and their diseases are getting exposed. We need change in the country."
Concurs historian Ramachandra Guha. He says that the anger of people after the Mumbai mayhem "was aggravated by the cavalier behaviour of the politicians".
Rajya Sabha MP Chandan Mitra disagrees. "In no way, we can generalise the politicians who make comments from time to time which are not in good taste. Politicians as a class are not suffering from the foot-in-mouth disease.
"Each of the comments has to be seen as a specific case. The only exception is Kerala CM`s `dog` remark about a martyred Army Major -- that statement is despicable. However, other comments don`t fall in that category."
Achuthanandan had ignited a controversy after being "snubbed" by the angry father of NSG officer Major Sandeep Unnikrishnan who was brutally killed by terrorists in Mumbai, when he went to Bangalore to offer his condolences, by saying, "If it had not been Sandeep`s house, not even a dog would have glanced that way."
However, noted social scientist Shabnam Hashmi disagrees with Mitra.
"A majority of politicians suffer from some sort of disease. You take BJP leader Naqvi`s audacious statement on `women wearing lipstick and powder` and protesting against the politicians in the wake of the Mumbai carnage. These comments reflect one`s feudal mindset.
"Likewise, Chief Minister of Gujarat Narendra Modi`s announcement of compensation for the slain policemen – Anti- Terror Squad chief Hemant Karkare, Additional Commissioner Ashok Kamte and encounter specialist Vijay Salaskar – who died fighting the terrorists in Mumbai – is also condemnable.
"It`s evident Modi did it for political gains. But the bereaved wife of brave heart officer Karkare showed the nation what the politicians actually deserve by refusing the largesse from the Chief Minister," she exclaims.
[indian express]
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Why talk of trillions of dollars, there are news , that MPs of country want to convert black money into white. News is spread across the Chartered Accountant feternity to help them. From Delhi to Kanyakumari, this is spread. RBI is keeping its eyes closed. The touts connected with the deals talk of some abbrevated word `RR`for the process of conversion. God only knows what the word `RR` means. When such things happen within our country, what else we can expect from these third rate politicians...
In reply to:
ISI chief meets Pakistan PM amid India row
Posted by : radhika_nandlal
One guy from the Junta (on CNBC) asked for the liqudation of the trillions of dollar in swiss bank flushed into India for the maintenance and upkeep of our security force.
Imagine a trillion dollars in swiss bank in the accounts by the polticians. Gosh.. there is so much of dirt to be washed out... why is swiss bank so notorious for creating benami accounts.. isnt it a blot on the bank`s character?
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New Delhi: Union Home Minister P Chidambaram on Friday admitted to the intelligence and security lapses and assured that steps would be taken to ensure that there is an improvement in measures to tackle terrorism.
"I agree that there has been a failure on the part of the security forces, but this attack will help the Government be more determined in combating terrorism," Chidambaram said at the state police headquarters in New Delhi on Friday.
“I apologise to the people of Mumbai,” Chidambaram said.
On the possible involvement of Pakistan`s Inter Services Intelligence (ISI) in the attacks, the Home Minister said, "there is ample evidence to link the attack to organisations or entities which have been responsible for Terror attacks in the past."
"At this stage, it would not be correct to name any organisation but you can draw conclusions," Chidambaram said.
He also said that there is a proposal to set up an intelligence agency at the national level similar to that of United States` Federal Bureau of Investigation (FBI) adding that plans in this regard would be announced in Parliament.
The investigation into the attack has been entrusted to Mumbai Crime Branch and a full and clear picture will emerge in their report that will be submitted before the court," Chidambaram said.
"A lot of work is under progress and evidence has been gathered and various aspects would be checked after which full picture will be drawn," he added.
"There are speculations and I have read reports linking the terror attacks to Dawood Ibrahim and have taken note of it but cannot comment on it," Chidambaram said.
This attack will trigger a change in the attitude of both the Central and state governments towards terror and combating terrorism, Chidambaram said and added that the Government will go into the causes of security lapses.
"The need of the hour is a fundamental change and a change in our attitude towards law. The country also needs a hightened sense of alertness," he said.
"Terrorists chose Mumbai, famously known as the city of dreams to make maximum impact across the world. The attack is not only on the city but is a challenge to the soul of the country," he said.
"The Maharashtra Government has announced compensation packages for the kin of the deceased and injured persons in the terror attack and I have requested the home secretary to implement those packages before December 31," Chidambaram said.
He further said that he has asked the insurance companies to expedite the insurance claims of the kin of deceased and the injured persons promptly.
"I would request Mumbaikars to summon once again the spirit of Mumbai so that it rises as the premium city of the country," the Home Minister said, adding that Mumbaikars have set an example in how to confront challenges on previous Terror attacks.
Before arriving at the state police headquarters, Chidambaram visited terror affected places CST, Taj Hotel, Oberoi Hotel and J J Hospital, where several injured have been admitted.
He offered condolences to the families of the 163 persons, including policemen, who lost their lives in the three-day long audacious terror strike.
Praising the security forces, he said the country should salute the work of the Maharashtra police, NSG and Marine Commandos.
"Hundreds of lives were saved by the security personnel in which 18 of them laid down their lives and we should not forget the sacrifices made by them," the Home Minister said.
"I know what the city means to the country. Mumbai is vibrant, emerging and forward where the poor and rich, less educated and the most talented persons` dream. I have visited the city several times and have stayed at the Taj and Oberoi on these occasions," he said. "We will go to the source of this terror and try to put an end to it," the Home Minister added.
[indian express]...
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Morningdew,
I agree with you about the feudal mindset of Naqvi.. If the lord like Modi is feudal why blame the subordinates. LOL
Quote
"A majority of politicians suffer from some sort of disease. You take BJP leader Naqvi`s audacious statement on `women wearing lipstick and powder` and protesting against the politicians in the wake of the Mumbai carnage. These comments reflect one`s feudal mindset.
Unquote
...
In reply to:
Are politicians suffering from foot-in-mouth syndrome?
Posted by : morningdew
New Delhi: The political class has never had it so bad with unprecedented public anger over Mumbai Terror attacks, and they have made it worse for themselves with "foot-in-the-mouth" syndrome.
From lipstick to cur, politicians have come in for sharp criticism for their shooting-from-the-lip with eminent personalities saying time has come for them to think before opening their mouth.
Be it Kerala Chief Minister VS Achuthanandan`s "dog" remark or former Maharashtra Deputy CM RR Patil`s "filmi-syle" statement or BJP Vice-President MA Naqvi`s "lipstick" reaction and their respective parties taking exception to them – these kneejerk comments are now being subjected to public scrutiny.
Says India`s first woman IPS officer-turned-social activist Kiran Bedi: "The politicians have long been suffering from the foot-in-the-mouth syndrome. But, thanks to media now, they and their diseases are getting exposed. We need change in the country."
Concurs historian Ramachandra Guha. He says that the anger of people after the Mumbai mayhem "was aggravated by the cavalier behaviour of the politicians".
Rajya Sabha MP Chandan Mitra disagrees. "In no way, we can generalise the politicians who make comments from time to time which are not in good taste. Politicians as a class are not suffering from the foot-in-mouth disease.
"Each of the comments has to be seen as a specific case. The only exception is Kerala CM`s `dog` remark about a martyred Army Major -- that statement is despicable. However, other comments don`t fall in that category."
Achuthanandan had ignited a controversy after being "snubbed" by the angry father of NSG officer Major Sandeep Unnikrishnan who was brutally killed by terrorists in Mumbai, when he went to Bangalore to offer his condolences, by saying, "If it had not been Sandeep`s house, not even a dog would have glanced that way."
However, noted social scientist Shabnam Hashmi disagrees with Mitra.
"A majority of politicians suffer from some sort of disease. You take BJP leader Naqvi`s audacious statement on `women wearing lipstick and powder` and protesting against the politicians in the wake of the Mumbai carnage. These comments reflect one`s feudal mindset.
"Likewise, Chief Minister of Gujarat Narendra Modi`s announcement of compensation for the slain policemen – Anti- Terror Squad chief Hemant Karkare, Additional Commissioner Ashok Kamte and encounter specialist Vijay Salaskar – who died fighting the terrorists in Mumbai – is also condemnable.
"It`s evident Modi did it for political gains. But the bereaved wife of brave heart officer Karkare showed the nation what the politicians actually deserve by refusing the largesse from the Chief Minister," she exclaims.
[indian express]
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Chemkiron,
Long live the lipstick powder race.
Whats wrong with Osho,
Whats wrong with spelling Krishna as Krsna.
Why should i be in Saudi when i am proud to be an Indian... I told u if there is someone who is more evolved than the american its the Indian Hindu.
The Indian Hindu can dress any which way including the most traditional grab and not look like he needs a session with the psychiatrist. Being able to smell, touch and feel FREEDOM inspite of our belief in god is the most evolved state and Hindus have enjoyed this state of social nirvana since times immemorial....
In reply to:
Shame shame shame shame on BJP VP
Posted by : chemkiron
A woman (mis)quoting from bhagwatgita, prefers to spell Krishna as Krsna (ISCON way), quoting from kamsutra, calls herself a progressive forward is a joke. Madam, whatever your quotes on Bhagvadgita & Kamsutra are there indicates that you must be Osho(Rajnish) follower. No harm in that because you are in India & not Saudi Arabia.
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Japan`s Recession Hits `Temps`
Sweeping Layoffs Expose Social Tensions; Isuzu Workers Sue
FUJISAWA, Japan -- In the parlance of Japan`s new brutal economy, Dan Yamamoto is a "disposable" worker.
For the past 2½ years, the 34-year-old has worked on Isuzu Motor Ltd.`s assembly line installing axles. His job -- like the "temporary" jobs of a third of Japan`s work force -- comes with no security, few benefits, and lower wages than the jobs of permanent workers with longer-term contracts.
Two weeks ago, Isuzu said it would lay off all 1,400 temporary workers at its Japanese plants as the truck maker scaled back production amid the global economic turmoil.
"I feel angry but it cannot be helped," said Mr. Yamamoto, standing outside Isuzu`s Fujisawa plant on the outskirts of Tokyo on a recent evening. His last day of work is Dec. 26.
As companies around the world slash jobs, the recent cuts of more than 30,000 temps like Mr. Yamamoto at Isuzu, Toyota Motor Corp. and other Japanese manufacturers may seem modest. But the sweeping cuts -- the first on such a scale since 2004, when Japan lifted restrictions on manufacturers` hiring of temporary workers -- have created a moment of reckoning, exposing the social costs of the country`s embrace of more open style of capitalism.
For decades, many Japanese manufacturing workers were coddled with secure jobs that guaranteed them a middle-class lifestyle. That ended with a slump in the 1990s and early 2000s that lasted more than a decade. Deregulation measures earlier this decade helped spawn a vast and growing group of workers who say they are treated like second-class citizens.
"Japan has gone too far. We should think about the things we have thrown away," says Akiko Kamei, a member of the opposition People`s New Party in Japan`s parliament and a onetime temp worker. She says the cuts may breed greater poverty and social tensions.
Temps, or nonpermanent employees, earn about two-thirds what permanent full-timers do. Temps` contracts usually run for less than a year; they can often be hired and fired with just a few days` notice and receive no severance. Their numbers have ballooned to 35% of the work force from 24% in 1998 and 18% in 1988.
Japan`s flagship exporters have hired temps by the thousands in recent years to keep labor costs low amid cutthroat global competition. Exporters` soaring profits helped lead Japan to six years of expansion. Now, as Japan buckles down for a long recession, the mass layoffs may allow companies to recover more quickly when the economy rebounds.
But their tough decisions have touched a nerve. Unlike permanent workers, many temps aren`t entitled to government unemployment insurance.
On Thursday, two temp workers in Isuzu`s engine plant north of Tokyo filed a lawsuit demanding that the company allow them to continue their contracts until they expire.
"I`m really, really mad," said Hirotoshi Matsumoto, 46, one of the temps who filed the suit. "I`m mad at both the company and the nation who came up with this kind of policy." Mr. Matsumoto had been working as a temp forklift driver at Isuzu since 2005. On Nov. 17, he was handed a sheet of paper informing him that his current contract, which expires in September, would end nine months early.
Isuzu declined to comment on the lawsuit. The truck maker has said the layoffs were necessary because of the downturn in sales this year. Isuzu said last month that it was slashing its net-profit forecast for the year ending in March by more than half because of sluggish sales and higher materials costs.
Japan`s unemployment rate still remains low at 3.7%, though more layoffs are expected in the months ahead. Honda Motor Co. on Thursday said it will cut 490 temporary staff at its Japanese plants by January.
...
In reply to:
Job losses....
Posted by : sambala
In a separate survey of households, the government found that employment fell by 673,000, the largest lost since August 2001.
Unemployment rose by 251,000 to 10.3 million. Unemployment has increased 2.7 million during the recession and 2.7 million more have been forced into part-time work.
In November, the labor force fell by 422,000.
The employment-population ratio fell to 61.4% in November from 61.8%. The labor force participation rate fell to 65.8% from 66.1%.
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Raju,
Network TV18 includes CNN-IBN and CNBC as i understand it? As far as i have understood their reporting style, they are a milder channel and would like to play it safe like BBC... NDTV of course is dependent on its party affiliation for its survival. This is the impression i get but yes all media channels indulge in their own dirty game of politicking....
In reply to:
Hello Indians
Posted by : Raju55
RN
RN
U r completely off the mark. TV18 is no better than other channels. No doubt like politicians looking for votes, Media is twisting the news for TRP ratings. Politicians and Media are of the same class - not doing their job. Mr.Arun Shourie asked a question to the media or rather I would say accused media of reportng such news which should not have been reported (such as Punjab police action to put down the terriorism)or sensationalised.
Raju123
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In a separate survey of households, the government found that employment fell by 673,000, the largest lost since August 2001.
Unemployment rose by 251,000 to 10.3 million. Unemployment has increased 2.7 million during the recession and 2.7 million more have been forced into part-time work.
In November, the labor force fell by 422,000.
The employment-population ratio fell to 61.4% in November from 61.8%. The labor force participation rate fell to 65.8% from 66.1%....
In reply to:
Job losses....
Posted by : sambala
Payrolls plunge by stunning 533,000 in November
Jobless rate rises to 15-year high of 6.7%, as recession deepens
WASHINGTON - U.S. nonfarm payrolls plunged by an astonishing 533,000 in November, the worst job loss in 34 years, the Labor Department reported Friday.
It`s only the fourth time in the past 58 years that payrolls have fallen by more than 500,000 in a month. Since the recession began 11 months ago, a total of 1.9 million jobs have been lost. Job losses in September and October were revised much lower.
In addition to the 533,000 lost jobs, an additional 621,000 workers were pushed into part-time work and 422,000 simply dropped out of the labor force.
"This is almost indescribably terrible," wrote Ian Shepherdson, chief U.S. economist for High Frequency Economics. "The pace of job losses is accelerating alarmingly."
Over the past three months, 1.26 million jobs have been lost, a pace of job destruction exceeded only once since 1945.
"The threat of a widespread depression is now real and present," said Peter Morici, a business professor at the University of Maryland.
The recession "is going to be long and drawn out," wrote Jennifer Lee, an economist for BMO Capital Markets.
The unemployment rate rose from 6.5% in October to 6.7% in November, the highest jobless rate since October 1993.
Job losses were widespread across industries in November. Fewer than a third of industries were hiring in November.
In services-producing industries, 370,000 jobs were lost, a record excluding one month in 1983 when nearly three-quarters of a million workers at AT&T went on strike.
The grim report could set the stage for further responses from Washington to address the recession. The Bush administration promised "aggressive" action, and pressure increased on the incoming Obama administration to craft a sizable fiscal stimulus plan. The large loss of jobs could also boost the chances for the automakers to get a loan from the federal government.
The Federal Reserve is likely to lower its interest rate target at the Dec. 16 meeting, economists said.
The employment report was much worse than expected. Economists expected job losses of around 350,000 in November. They expected the unemployment rate to rise to 6.8%.
"We expect labor market conditions to be dreadful for many months to come and consequently for consumer spending to continue to decline," wrote Josh Shapiro, chief economist for MFR Inc.
Job losses in September and October were revised sharply lower by a total of 199,000. Over the past three months, payrolls have fallen by an average of 419,000 per month, compared with average monthly losses of 82,000 earlier in the year.
An alternative gauge of unemployment -- which includes discouraged workers and those whose hours have been cut back to part-time -- rose to 12.5% from 11.8%. The number of workers forced to work part-time rose by 621,000 to 7.3 million.
Total hours worked in the economy fell 0.9% in November and are down 2.8% in the past year. The average workweek fell to a record-low 33.5 hours in November. The decline in working hours is consistent with a 5% annualized drop in gross domestic product, wrote John Silvia, chief economist for Wachovia.
Average hourly earnings rose by 7 cents, or 0.4%, to $18.30. Average hourly wages are up 3.7% in the past year, close to the 3.8% rise in the consumer price index.
In goods-producing industries, 163,000 jobs were lost, according to a survey of work places. Manufacturing lost 85,000 workers, while construction lost 82,000.
In the services, 136,000 jobs were lost in business services, including 101,000 in employment services, such as temporary jobs. Financial services cut 34,000 jobs. Retail shed 91,000 jobs, including 24,000 at auto dealers.
Leisure and hospitality industries cut 76,000 jobs
Health and education services industries added 52,000 jobs.
Government added 7,000.
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One guy from the Junta (on CNBC) asked for the liqudation of the trillions of dollar in swiss bank flushed into India for the maintenance and upkeep of our security force.
Imagine a trillion dollars in swiss bank in the accounts by the polticians. Gosh.. there is so much of dirt to be washed out... why is swiss bank so notorious for creating benami accounts.. isnt it a blot on the bank`s character?...
In reply to:
ISI chief meets Pakistan PM amid India row
Posted by :
indianstock
Islamabad: The chief of Pakistan`s powerful Inter-Services Intelligence (ISI) agency met Prime Minister Yousaf Raza Gilani on Friday amid growing tension with old rival India over the Mumbai attacks.
Lieutenant-General Ahmed Shujaa Pasha, the head of Pakistan`s main security service, briefed Gilani on security, according to a brief statement from the prime minster`s office.
India has blamed Islamist militants based in Pakistan for the three-day rampage in its financial capital last week that killed 171 people.
Indian newspapers said on Friday the ISI was involved in training the militants, who are said to belong to the Pakistan-based Lashkar-e-Taiba group that has been blamed for earlier attacks in India.
The Pakistani government and security officials have denied any involvement by state agencies, and the chief of the Interior Ministry reiterated on Friday Pakistan`s commitment to helping India with its investigation.
"We will give India unconditional support to identify the criminals and take action against them," acting Interior Minister Rehman Malik told reporters.
"We think the criminals, whether they are from India or Pakistan or anywhere else in the world, he or they should be brought to justice," he said.
Tension between the nuclear-armed neighbours, which have fought three wars since independence from British rule in 1947, has stoked fears of renewed confrontation and the collapse of their four-year-old peace process.
Malik said no one wanted war: "Neither the Pakistani nation nor our Indian brothers want war. God willing, that won`t happen".
US Secretary of State Condoleezza Rice was in both New Delhi and Islamabad this week, where she stressed the need for full cooperation from Pakistan to get to the bottom of the attacks. She also urged India to show restraint.
Hope For Peace
India says 10 militants were involved in the coordinated attacks on two luxury hotels and several others places. Nine of them were killed. The lone surviving attacker told Indian investigators after he was captured that they had undergone months of commando training organised by Lashkar-e-Taiba and conducted by former Pakistan army officers.
Pakistani army chief General Ashfaq Kayani told his military commanders on Thursday that the army stood for peace and security. Without mentioning India, he said he hoped "peace and stability in the region will be maintained".
A confrontation between the South Asian rivals would undercut efforts to bring stability to Afghanistan and defeat al Qaeda.
Pakistani security officials have said they could feel compelled to abandon the campaign against Islamist militancy and take forces away from the Afghan border, where they are fighting al Qaeda and the Taliban, and move them to the Indian border if tension increases.
Reuters
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Payrolls plunge by stunning 533,000 in November
Jobless rate rises to 15-year high of 6.7%, as recession deepens
WASHINGTON - U.S. nonfarm payrolls plunged by an astonishing 533,000 in November, the worst job loss in 34 years, the Labor Department reported Friday.
It`s only the fourth time in the past 58 years that payrolls have fallen by more than 500,000 in a month. Since the recession began 11 months ago, a total of 1.9 million jobs have been lost. Job losses in September and October were revised much lower.
In addition to the 533,000 lost jobs, an additional 621,000 workers were pushed into part-time work and 422,000 simply dropped out of the labor force.
"This is almost indescribably terrible," wrote Ian Shepherdson, chief U.S. economist for High Frequency Economics. "The pace of job losses is accelerating alarmingly."
Over the past three months, 1.26 million jobs have been lost, a pace of job destruction exceeded only once since 1945.
"The threat of a widespread depression is now real and present," said Peter Morici, a business professor at the University of Maryland.
The recession "is going to be long and drawn out," wrote Jennifer Lee, an economist for BMO Capital Markets.
The unemployment rate rose from 6.5% in October to 6.7% in November, the highest jobless rate since October 1993.
Job losses were widespread across industries in November. Fewer than a third of industries were hiring in November.
In services-producing industries, 370,000 jobs were lost, a record excluding one month in 1983 when nearly three-quarters of a million workers at AT&T went on strike.
The grim report could set the stage for further responses from Washington to address the recession. The Bush administration promised "aggressive" action, and pressure increased on the incoming Obama administration to craft a sizable fiscal stimulus plan. The large loss of jobs could also boost the chances for the automakers to get a loan from the federal government.
The Federal Reserve is likely to lower its interest rate target at the Dec. 16 meeting, economists said.
The employment report was much worse than expected. Economists expected job losses of around 350,000 in November. They expected the unemployment rate to rise to 6.8%.
"We expect labor market conditions to be dreadful for many months to come and consequently for consumer spending to continue to decline," wrote Josh Shapiro, chief economist for MFR Inc.
Job losses in September and October were revised sharply lower by a total of 199,000. Over the past three months, payrolls have fallen by an average of 419,000 per month, compared with average monthly losses of 82,000 earlier in the year.
An alternative gauge of unemployment -- which includes discouraged workers and those whose hours have been cut back to part-time -- rose to 12.5% from 11.8%. The number of workers forced to work part-time rose by 621,000 to 7.3 million.
Total hours worked in the economy fell 0.9% in November and are down 2.8% in the past year. The average workweek fell to a record-low 33.5 hours in November. The decline in working hours is consistent with a 5% annualized drop in gross domestic product, wrote John Silvia, chief economist for Wachovia.
Average hourly earnings rose by 7 cents, or 0.4%, to $18.30. Average hourly wages are up 3.7% in the past year, close to the 3.8% rise in the consumer price index.
In goods-producing industries, 163,000 jobs were lost, according to a survey of work places. Manufacturing lost 85,000 workers, while construction lost 82,000.
In the services, 136,000 jobs were lost in business services, including 101,000 in employment services, such as temporary jobs. Financial services cut 34,000 jobs. Retail shed 91,000 jobs, including 24,000 at auto dealers.
Leisure and hospitality industries cut 76,000 jobs
Health and education services industries added 52,000 jobs.
Government added 7,000.
...
In reply to:
Job losses....
Posted by : sambala
Layoffs `right-size` expectations
Commentary: Draconian downsizing signals next turn in cycle
SAN FRANCISCO -- Economists like to talk about "right-sizing" industries. It`s a horrible word but serves well enough as shorthand for finding that elusive equilibrium between supply and demand.
On Thursday we witnessed some serious right-sizing.
By the time the market opened, investors were starring at about 30,000 planned job cuts, with such corporate titans as AT&T,DuPont, Credit Suisse Group and Nomura clearing their decks for the storm ahead.
Of all the cuts announced, the 12,000 figure from AT&T was the biggest. But the 6,500 cuts at DuPont are perhaps the scariest. As a chemical producer, DuPont is at the forefront of the manufacturing cycle. So when DuPont says 2009 is shaping up to be a dreadful year, it`s a dire warning from one of the economy`s true bellwethers.
The past month`s barrage of bad economic news has put a real damper on the holiday spirit. Actually losing your job kills it. And Friday`s jobs report from the Labor Department is likely to show another 300,000 Americans lost their income last month, adding to the 1 million jobs lost this year through October.
Where much of the grim news comes to roost this time of year is the retail sector, which just reported its worst November in the 35 years of data we have at hand.
One bright spot is Wal-Mart the big-box store that until a few months ago catered to America`s low-end retail market. That low end is swelling at a furious pace and now includes much of the middle class, which helps explain why Wal-Mart`s November sales rose 3.4% from a year ago and the rest of the sector had another dismal month, falling short of Wall Street`s already low expectations.
If there`s any good news in all this, it`s that consumers are right-sizing purchases to match their shrinking pocketbooks. It`s a simple case of supply and demand.
But it weighs heavily on investor sentiment. Accepting a skimpy sack of goodies from Santa this year is one thing. Watching investors flee the market, often looting their own retirement funds in the process, is quite another.
It also weighs on national morale. Watching so many workers lose their livelihoods, especially during the holidays, is gut-wrenching and appears, according to DuPont, to be setting up the next downward leg in this painful cycle.
Which means that, for most of us, still having a job in the New Year will be the best gift ever.
-- Jim Jelter
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New Delhi: The political class has never had it so bad with unprecedented public anger over Mumbai Terror attacks, and they have made it worse for themselves with "foot-in-the-mouth" syndrome.
From lipstick to cur, politicians have come in for sharp criticism for their shooting-from-the-lip with eminent personalities saying time has come for them to think before opening their mouth.
Be it Kerala Chief Minister VS Achuthanandan`s "dog" remark or former Maharashtra Deputy CM RR Patil`s "filmi-syle" statement or BJP Vice-President MA Naqvi`s "lipstick" reaction and their respective parties taking exception to them – these kneejerk comments are now being subjected to public scrutiny.
Says India`s first woman IPS officer-turned-social activist Kiran Bedi: "The politicians have long been suffering from the foot-in-the-mouth syndrome. But, thanks to media now, they and their diseases are getting exposed. We need change in the country."
Concurs historian Ramachandra Guha. He says that the anger of people after the Mumbai mayhem "was aggravated by the cavalier behaviour of the politicians".
Rajya Sabha MP Chandan Mitra disagrees. "In no way, we can generalise the politicians who make comments from time to time which are not in good taste. Politicians as a class are not suffering from the foot-in-mouth disease.
"Each of the comments has to be seen as a specific case. The only exception is Kerala CM`s `dog` remark about a martyred Army Major -- that statement is despicable. However, other comments don`t fall in that category."
Achuthanandan had ignited a controversy after being "snubbed" by the angry father of NSG officer Major Sandeep Unnikrishnan who was brutally killed by terrorists in Mumbai, when he went to Bangalore to offer his condolences, by saying, "If it had not been Sandeep`s house, not even a dog would have glanced that way."
However, noted social scientist Shabnam Hashmi disagrees with Mitra.
"A majority of politicians suffer from some sort of disease. You take BJP leader Naqvi`s audacious statement on `women wearing lipstick and powder` and protesting against the politicians in the wake of the Mumbai carnage. These comments reflect one`s feudal mindset.
"Likewise, Chief Minister of Gujarat Narendra Modi`s announcement of compensation for the slain policemen – Anti- Terror Squad chief Hemant Karkare, Additional Commissioner Ashok Kamte and encounter specialist Vijay Salaskar – who died fighting the terrorists in Mumbai – is also condemnable.
"It`s evident Modi did it for political gains. But the bereaved wife of brave heart officer Karkare showed the nation what the politicians actually deserve by refusing the largesse from the Chief Minister," she exclaims.
[indian express]
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Economy bleeds jobs
Jobless rate at 15-year-high 6.7% as U.S. payrolls plunge
Nonfarm payrolls contract by 533,000 in the worst monthly job loss in 34 years. Since recession began in late 2007, 1.9 million jobs have been lost. Jobless rate is at highest level since 1993
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Job losses....
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Layoffs `right-size` expectations
Commentary: Draconian downsizing signals next turn in cycle
SAN FRANCISCO -- Economists like to talk about "right-sizing" industries. It`s a horrible word but serves well enough as shorthand for finding that elusive equilibrium between supply and demand.
On Thursday we witnessed some serious right-sizing.
By the time the market opened, investors were starring at about 30,000 planned job cuts, with such corporate titans as AT&T,DuPont, Credit Suisse Group and Nomura clearing their decks for the storm ahead.
Of all the cuts announced, the 12,000 figure from AT&T was the biggest. But the 6,500 cuts at DuPont are perhaps the scariest. As a chemical producer, DuPont is at the forefront of the manufacturing cycle. So when DuPont says 2009 is shaping up to be a dreadful year, it`s a dire warning from one of the economy`s true bellwethers.
The past month`s barrage of bad economic news has put a real damper on the holiday spirit. Actually losing your job kills it. And Friday`s jobs report from the Labor Department is likely to show another 300,000 Americans lost their income last month, adding to the 1 million jobs lost this year through October.
Where much of the grim news comes to roost this time of year is the retail sector, which just reported its worst November in the 35 years of data we have at hand.
One bright spot is Wal-Mart the big-box store that until a few months ago catered to America`s low-end retail market. That low end is swelling at a furious pace and now includes much of the middle class, which helps explain why Wal-Mart`s November sales rose 3.4% from a year ago and the rest of the sector had another dismal month, falling short of Wall Street`s already low expectations.
If there`s any good news in all this, it`s that consumers are right-sizing purchases to match their shrinking pocketbooks. It`s a simple case of supply and demand.
But it weighs heavily on investor sentiment. Accepting a skimpy sack of goodies from Santa this year is one thing. Watching investors flee the market, often looting their own retirement funds in the process, is quite another.
It also weighs on national morale. Watching so many workers lose their livelihoods, especially during the holidays, is gut-wrenching and appears, according to DuPont, to be setting up the next downward leg in this painful cycle.
Which means that, for most of us, still having a job in the New Year will be the best gift ever.
-- Jim Jelter
Dr Samar Mubarakmand has said that Pakistan is competent to launch nuclear missiles at a short notice of ten minutes in case India attacks Pakistan.
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Pakistan is capable of launching nuclear missiles within ten minutes:
Fri, Dec 5 02:15 PM
Islamabad, Dec 5 (ANI): Nuclear scientist Dr Samar Mubarakmand has said that Pakistan is competent to launch nuclear missiles at a short notice of ten minutes in case India attacks Pakistan.
"Pakistan`s long-range Shaheen nuclear missiles were more accurate than comparable Indian missiles. No city in India was beyond the reach of Pakistan`s missiles," Samar told to a private TV channel.
Samar, a member of the team of scientists that conducted Pakistan`s nuclear tests in 1998, said that before Pakistan conducted the missile tests that equalised the ratio, India had been superior to Pakistan by a ratio of 3.5 to 1.
Talking about the payload capacity, Samar said, "The nuclear missiles tested by India had a payload capacity between eight to ten tons, while Pakistan missiles have 25 to 30 tons."
Urging political leaders not to be flexible in the face of India`s allegations, he said, the Dawn quoted him as saying, "We would have to live with respect in the region. Our weakness would strengthen our enemies." (ANI)
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The global financial crisis has hit India`s largest private sector conglomerate. The Reliance group and its associate companies have asked about 5,000 employees to resign, according to inside sources. A significant portion of the staff reduction has come from the retail operations....
